Headline inflation, as measured by the year-on-year (Y-o-Y) change in the Colombo Consumer Price Index (CCPI, 2013=100), increased to 5.2 per cent in June 2021 from 4.5 per cent in May 2021. This was driven by monthly increases of prices of items in both Food and Non-food categories. Accordingly, Food inflation (Y-o-Y) increased to 11.3…
BUSINESS SENTIMENT – Business Confidence Nudges Down While the COVID-19 pandemic has brought many challenges for the economy since March last year, World Bank Country Director for Maldives, Nepal and Sri Lanka Faris Hadad-Zervos believes that it also presents an opportunity for the nation to drive policies that will enable it to “build back better with…
Sri Lanka Retailers’ Association (SLRA), the body which represents some of the top retailers in the country, calls the government to save the critical service from collapsing Retail sector contributes one-third to the GDP, 15% of the gainfully employed The Sector supports a wider eco system of farmers, suppliers, entrepreneurs and delivery personnel Requests urgent…
The Ceylon Chamber of Commerce elected Mr. Vish Govindasamy as its Chairman during the Chamber’s 182nd Annual General Meeting on Tuesday (29). Mr. Govindasamy succeeds Dr. Hans Wijayasuriya who completed his 2-Year Term as Chairman at the culmination of the Annual General Meeting. Mr. Vish Govindasamy serves in the capacity of Managing Director of Sunshine…
WEConnect International hosted a first-of-its-kind roundtable last week with U.S. Ambassador to Sri Lanka Alaina Teplitz, the U.S. Department of State, and local business leaders to present research findings on the status of women-owned businesses (WOBs) in corporate value chains in Sri Lanka and why only a handful of women suppliers win procurement contracts with…
By Dr. Pulasthi Gunawardhana AI, long the mainstay of science fiction, is today a very real presence in business, manufacturing, government operations and an array of other sectors as AI applications take on a growing number of tasks. AI is accelerating the transition from the traditional to the digital economy, and at the same time…
The Information and Communication Technology Agency of Sri Lanka (ICTA), the apex Government body for Technology Startup Development in the country has been the catalyst in driving the startup ecosystem forward during the past decade. In its efforts to create a favorable environment for startups and contribute towards a startup-friendly government, ICTA in collaboration with…
The advent of technology has seemingly transformed the travel and tourism industry – and this evolution was even more pronounced during the current pandemic. Sri Lanka Tourism adopted a proactive approach to harness the benefits of technology into its offering to remain competitive in the digital era. Sri Lanka’s apex tourism body is integrating technology…
Fitch Ratings: Sri Lankan rated corporates with financial-service (FS) subsidiaries face a rise in Fitch-adjusted debt and potential rating pressure due to the subsidiaries’ medium-term asset growth in the current weak operating environment, Fitch Ratings says. Fitch’s corporate rating criteria deconsolidates the FS subsidiary from the parent in calculating the parent’s credit metrics. However, for…
By Dr. Chatura Rodrigo (Ph.D) Palm oil is an edible vegetable oil produced from the reddish fruit of the oil palm. It’s the most consumed edible oil in the world. Contrary to popular opinion, it’s also one of the most sustainable and economically viable crops in the world. To illustrate, only 5% of the world’s…
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