Business Sentiment – The Index Continues To Head North At a recent webinar, the Institute of Policy Studies of Sri Lanka’s (IPS) Executive Director Dr. Dushni Weerakoon noted that a V-shaped recovery seems to be on the cards for the Sri Lankan economy, following the 3.2 percent contraction recorded last year. With a growth rate…
Announcing its financial results for the 2nd quarter of the financial year, Expolanka Holdings PLC once again reported exceptional results driven by the continued growth of its Logistics business. For the quarter ended 30 September 2021 (Q221), Expolanka recorded a Profit After Tax of Rs 12 Bn, at a 166% increase Year on Year (YoY)….
Headline inflation, as measured by the year-onyear (Y-o-Y) change in the Colombo Consumer Price Index (CCPI, 2013=100), increased to 7.6per cent in October 2021 from 5.7 per cent in September 2021. This was driven by monthly increases of prices of items in both Food and Nonfood categories. Subsequently, Food inflation (Yo-Y) increased to 12.8 per cent in October…
Financial Results for the period ended 30 September 2021 DFCC Group recorded a PAT of LKR 3.4 Bn. Advances grew by LKR 54 Bn to LKR 356 Bn (18% growth). Deposits grew by LKR 31 Bn to LKR 340 Bn (10% growth). Despite the challenging operating environment in the banking industry, DFCC Bank has continued…
The Monetary Board of the Central Bank issued new Rules, as published in the Gazette Extraordinary No. 2251/42 dated 28 October 2021, in respect of repatriation of export proceeds into Sri Lanka and conversion of such export proceeds to Sri Lanka Rupees, repealing the existing Rules issued under the Monetary Law Act, No.58 of 1949….
The European Union (EU) has announced a further EUR 2 million in funding to help Sri Lanka in its efforts to manage the pandemic. The grant, provided by the EU humanitarian office ECHO, will be channelled through the World Health Organization (WHO) and World Vision in Sri Lanka. These resources complement ongoing EU support to…
The Monetary Board of the Central Bank of Sri Lanka has established an Advisory Committee to examine possible revival options for failed finance companies. The Committee comprises four (04) eminent experts from the business sector and is chaired by Mr. Dharma Dheerasinghe, Chairman of CBC Finance Ltd., former Chairman of Commercial Bank of Ceylon PLC and former Deputy…
Sustaining Sri Lanka’s prominence as one of the most popular tourist destinations in the post-COVID-19 era, an inaugural virtual MICE Expo will be launched from 1st to 3rd December 2021. This exciting 3-day event will consist of a Virtual Expo and interactive webinars to showcase what Sri Lanka can offer for MICE and Business events…
Sri Lanka’s merchandize exports in September 2021 recorded US$ 995.8 Mn as per the data released by the Sri Lanka Customs. EDB Chairman & CE, Suresh D. de Mel said, “Observing the export figures of September, it is remarkable to see that our exporters performed this well amidst travel restrictions and lockdowns due to the…
Seylan Bank PLC announced a Profit After Tax (PAT) of Rs. 3.2 Billion in the nine months ending September 30, 2021 reflecting a 45% increase over the corresponding period last year. The Bank’s Net Interest Income grew by 14.76% to LKR 17,068 Mn during the period under review, announcing a robust growth as the industry…
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