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Fri, 26 Apr 2024 Today's Paper
12 Feb 2024 - 0 - 264
Opposition MP and Leader of the United Republic Front, Patali Champika Ranawaka, urged the government to adopt a scientific....
12 Feb 2024 - 0 - 219
Sri Lanka’s industrial production is seen to be gradually recovering from the prolonged weakness induced by the economic ....
12 Feb 2024 - 0 - 286
Earnings from remittances from Sri Lankan migrants rose by 11.4 percent in January 2024 to US$ 487.6 million, continuing....
12 Feb 2024 - 0 - 252
In December 2023, the net credit extended to the government by the banking system surged by more than half a trillion rupees....
09 Feb 2024 - 1 - 361
The sharper fall in bill yields in last couple of weeks, and specially the plunge seen at this week’s primary auction has sparked concerns.
09 Feb 2024 - 0 - 243
Gross official reserves held by the Central Bank continued to build up as increased current account inflows in recent times mostly helped it to remain a net buyer of foreign currency from the domestic banking system.
08 Feb 2024 - 0 - 342
India continues to show interest in Sri Lanka’s state-owned enterprises (SOEs). The majority of the bidders for the government-owned Canwill Holdings (Pvt.) Ltd are from the neighbouring giant. While a total of six companies have prequalified as bidders for the divestiture of the government’s shares in Canwill Holdings, five are from India and one is from Sri Lanka. The State-Owned Enterprises Restructuring Unit of the Finance Ministry shared tha
07 Feb 2024 - 0 - 164
Foreign Minister Ali Sabry urged Sri Lanka’s business community to step up efforts in demanding and ensuring policy consistency...
07 Feb 2024 - 0 - 463
The Cabinet greenlighted the proposal to gradually lift some restrictions imposed on rupee conversions for outward remittances ...
06 Feb 2024 - 0 - 496
Sri Lanka closed 2023 with its first balance of payment (BOP) surplus in four years and the highest since 2017, as the country recorded a positive balance in the external account of US $ 2,826 million last year. This is in comparison to the deficit of US $ 2,806 million recorded in 2022, when the country fell into its worst economic crisis caused by the shortage of foreign currency. The last time the country recorded a positive BOP was back in 20
06 Feb 2024 - 0 - 211
The foreign investors were adding Sri Lankan government securities into their holdings in the last couple of weeks, reversing a recent sell off seen in the middle of January. According to the data, the foreigners had added Rs.5,470 million worth of treasury bills and bonds in the last two weeks, at Rs.3,636 million and Rs.1,834 million, respectively, bringing the total foreign holdings of rupee treasuries to Rs.114,413 million. For the year howev
12 Jan 2021 - 0 - 965
In 2019, Sri Lanka recorded the highest reported elephant deaths and second highest number of human deaths in the world, due to the human-elephant conflict (HEC).
20 Mar 2017 - 0 - 9960
The Securities and Exchange Commission of Sri Lanka (SEC) has released the ‘Capital Market Strategy 2020’, a comprehensive transformative plan for Sri Lanka’s capital market, with the intention of providing strategic clarity to market participants and the public.
15 Nov 2016 - 0 - 15386
Finance Minister Ravi Karunanayake presented Sri Lanka’s national budget for 2017 in parliament on November 10, 2016.
29 Dec 2014 - 0 - 29653
The common opposition, fielding Maithripala Sirisena as its presidential candidate, recently pledged to replace the current consumption-led economy with a more sustainable manufacturing-led model.Sri Lanka skipped industrialization, trading for an easy service economy, which currently accounts for 59 percent of the country’s Gross Domestic Product (GDP). This has made the country import-dependant even on certain basic necessities.
10 Dec 2014 - 0 - 28724
Sri Lanka’s January – October YoY exports have improved 9 percent while an export product that recently faced volatile EU markets showed a promising turnaround, a statement by Industry and Commerce Ministry said.“For the month of October 2014 alone our provisional exports were at US $ 900 million and this is only merchandise exports without taking into account service exports such as ICT,” Export Development Board CEO/
01 Dec 2014 - 0 - 28461
Sri Lanka’s inflation in November fell for the fourth consecutive month Year-on-Year (YoY) to 1.5 percent from 1.6 percent a month ago, recording the lowest headline inflation seen in five years, according to data released by the Department of Census and Statistics (DCS).With headline inflation reaching near zero levels, Sri Lanka may now have to worry about a looming deflationary economy, similar to now struggling Euro region and Japan
26 Nov 2014 - 0 - 28337
EconomicTimes: Sri Lanka and Africa are fast emerging as the largest export markets for Hero MotoCorp, according to the company’s Vice-Chairman and Managing Director, Pawan Munjal.
24 Nov 2014 - 0 - 26999
The net profit of Japan’s Onomichi Dockyard owned Colombo Dockyard PLC saw its September quarter net profit (3Q14) dwindling over 80 percent yearon-year (yoy) to Rs.36.3 million, amid its main shipbuilding segment under performing.As a result, the quarterly earnings per share deteriorated t o 51 cents from Rs.2.68.
24 Nov 2014 - 0 - 25760
The private sector should take the initiative to develop the country, according to Defence and Urban Development Secretary Gotabaya Rajapaksa, who was speaking at the Business Today Top Twenty-five 2013-14 at the Colombo Hilton recently.“As Sri Lanka strives to become the Wonder of Asia, those in the corporate world have a special responsibility to help the nation achieve its economic potential,” he said. He claimed that the govern
21 Nov 2014 - 0 - 25533
Bringing global packaging honour to Sri Lanka, the World Packaging Confab kicked off in Colombo for the second time yesterday.Industry and Commerce Minister Rishad Bathiudeen addressing the event said, the upward trend i n per capita consumption and the average packaging cost of FMCGs reporting a 10-15 percent sales growth show the strength of packaging development in Sri Lanka.
14 Nov 2014 - 18 - 80246
Vega, Sri Lanka’s first electric super car will be sold at US$ 400,000 upwards, according to Codegen CEO Dr. Harsha Subasinghe who was speaking at the 59th LBR LBO CEOs Forum at the Cinnamon Grand recently.“Middle East and Sri Lanka are the markets. There is a demand for exclusive cars,” he said.He further added t hat t he first prototype will be completed next month, and that once the commercial model is ready, only 40-50 ca
11 Nov 2014 - 0 - 26484
John Keells Holdings’ commercial banking unit, Nations Trust Bank PLC (NTB) recorded a net profit of Rs.830.1 million for the quarter ended September 30, 2014, recording an increase of 35 percent over the corresponding period last year, the interim results released to the Colombo Stock Exchanged showed.The earnings per share rose to 360 cents from 267 cents during the period.
05 Nov 2014 - 0 - 25298
Power unit signs two hydro PPAs with CEBDiversified conglomerate Sunshine Holdings PLC (Sunshine) posted Rs. 144.59 million net profit for the quarter ended September 30, 2014 (2Q’15), an 18 percent decline from the same quarter last year. The earnings per share was 108 cents from 132 cents a year ago.The negative performance is due to the higher direct costs which rose by 28 percent Yearon-Year (YoY) to Rs.3.31 billion, but the revenue
05 Nov 2014 - 0 - 24672
The listed weft knit manufacturer, Textured Jersey Lanka PLC (TJL) posted a net profit of Rs. 281.79 million for the quarter ended September 30, 2014 (2Q15), up 7 percent a year ago, interim results showed.The earnings per share rose to 43 cents from 40 cents during the same period.The hike in TJL net profits came as a result of a one-off non-operating income of Rs. 20.59 million which comprised of a technical services fee.The top line grew by
05 Nov 2014 - 0 - 25043
Premier blue chip John Keells Holdings PLC (JKH) saw its net profit for the quarter ended September 30, 2014 (2Q15) improving 29 percent year-on-year (yoy) to Rs.2.64 billion, despite lagging transportation and logistics sector performance.The earnings per share for the quarter improved to Rs.2.67 from Rs.2.32 reported in the corresponding quarter of the previous year.The revenue for the quarter rose 6 percent yoy to Rs.22.1 billion whi
04 Nov 2014 - 0 - 26434
Seylan Bank PLC saw its net profit for the quarter ended September 30, 2014 (3Q14) surging 97 percent year-on-year (yoy) to Rs.1 billion with net interest income improving 21 percent yoy to Rs.3 billion.The earnings per share improved to Rs.3.04 from Rs.1.55.Despite a 6 percent drop in interest income, the bank was able to cut its interest expenses by a significant 24.4 percent yoy to Rs.2.86 billion.The net fee and commission income for the q
03 Nov 2014 - 0 - 25211
The Hayleys group knitted fabric manufacturer, Hayleys MGT Knitting Mills PLC (MGT) posted a net profit of Rs.31.74 million (US $ 241,059) for the quarter ended September 30, 2014 (2Q15), up 44 percent from a year ago, according to the interim financial results.The earnings per share rose to 18 cents from 13 cents during the same period.
31 Oct 2014 - 0 - 25272
Chevron Lubricants Lanka PLC, a unit of US-based multinational said its net profit for the quarter ended September 30, 2014 (3Q14) rose 23 percent year-on-year (yoy) to Rs.750 million.The revenue for the quarter rose 11 percent yoy to Rs.3 billion while cost of sales increased at a lower pace of 3 percent yoy to Rs.1.8 billion, resulting in a gross profit of Rs.1.26 billion, up 23 percent.The distribution costs fell 8 percent yoy to Rs.120.2 m
31 Oct 2014 - 1 - 24885
The Central Bank yesterday said the methodology used for the computation for Doing Business rankings have significantly changed and Sri Lanka’s 2014 ranking has been revised downwards to 105 from 85.Therefore, the bank said, according to the 2015 Doing Business report, Sri Lanka’s position has improved to 99th place compared with the previous year’s ranking under the new methodology.
25 Apr 2024