Fitch sees divergent impact on biz from further tightening of import controls

Further tightening of import controls will have divergent impact across industries, depending on their reliance on imports for daily business, the extent to which they engage in import substitution and their essential nature as designated by the government, Fitch Ratings said as it looked at the potential impact if the import controls were further tightened amid depleting reserves.

Tea industry to face double whammy amid easing volumes and prices

It will be an uphill task for the tea industry to maintain its export earnings with the potential decline in volumes caused by the chemical fertilizer ban and the prevailing low prices at the auctions, according to Fitch Ratings.

CIC Holdings maintains growth momentum in first quarter

CIC Holdings PLC delivered strong revenues and profits for the three months ended in June 30 (1Q22), maintaining the momentum it gained last year, as the group’s interests in multiple business lines stood to benefit from pandemic created conditions, policy title towards domestic production and the group’s yearlong strategic realignment, which ended recently.

US$ 1bn int’l sovereign bond matures tomorrow

The Central Bank on behalf of the government is expected to settle a maturing US$ 1 billion international sovereign bond (ISB) that falls due tomorrow (27th).

Countrywide prices up 6.1% in June

National prices continued to remain high in June as prices of food items continued their climb, while the non-food prices followed suit amid effects of the fuel price hike in the second week of the month feeding to transport costs, which rose sharply.

IMF assistance could be most plausible solution for SL’s current economic crisis

An International Monetary Fund (IMF) bailout package presents the government with “the perfect excuse” to usher in much needed, yet unpopular economic and public finance reforms to drive economic growth, while enabling the country to find a mid to long-term solution to the worsening external debt crisis and foreign exchange liquidity crunch exacerbated by the COVID-19 pandemic.

Industrial production shrinks further in May as lockdowns take hold

The country’s manufacturing activities, which plunged in April, shrank further in May after movement restrictions on and other economic activities were intensified disrupting the smooth functioning of factories, putting a further dent on their output.

CFA Society Sri Lanka hosts guest lectures at Kelaniya University

CFA Society Sri Lanka, University Outreach committee recently organized a series of guest lectures at the Department of Finance, University of Kelaniya in association with Acuity Knowledge Partners on Financial Modelling and Investment note writing with the objective of enhancing skills and sharing best practices in the global capital market spacewith Sri Lanka’s undergraduate students.

Baurs to bring expert team to study Sri Lanka’s agriculture ecosystem

A. Baur & Co. (Pvt.) Ltd., also known as Baurs, will be bringing down a team of renowned experts from Switzerland to study the country’s agriculture ecosystem with the purpose of providing scientific and practical solutions to converse into an organic approach.

MTI enables global strategy for Rwanda’s home grown initiatives

MTI Consulting has completed the strategic plan for Rwanda Cooperation - the Rwanda State-owned Enterprise charged with the responsibility of sharing the country’s home grown initiatives and good practices that have enabled Rwanda’s remarkable socio-economic transformation.

Dialog Television presents Amazon Prime Video for first time in Sri Lanka

Continuing to deliver world-class entertainment and edutainment to its customers, Dialog Television has extended the premium streaming service – Amazon Prime Video for the first time in Sri Lanka via its latest ViU Hub 2.0 decoder powered by Android Q.

HIPG delegation visits SL Ambassador to China

As construction work begins in the industrial park at the Hambantota Port, efforts are being made to attract Sri Lankan and international investors.

Rosatom, DP World to join efforts on Arctic container shipments

(Arab News) Russian state nuclear energy firm Rosatom and Dubai logistics firm DP World agreed on Friday to join efforts in developing pilot container shipping between Northwest Europe and East Asia through the Arctic, the companies said.

SriLankan Airlines: Facing challenges and coming out strong

Uncertainty as a result of the coronavirus pandemic has thrust the global aviation industry into genuine chaos as a result of closed borders and strict border controls since the early days of the crisis, which has seen planes flying with just a handful of passengers,

BRIDGE integrates with global shipping lines, airlines and courier services

Tracking multiple shipments several times a day can at times be a hassle. This is because professionals in the shipping industry have to visit many third party websites or take numerous calls to obtain information on the whereabouts of their shipment. This problem has been persistent in the trade for many years and has been the cause for many wasted man hours.

MBSL introduces 2 new leasing packages for registered Japanese and Indian motorcycles

MBSL introduces two new leasing packages for registered motorbikes of Japanese and Indian origins.

Brand Finance-LMD name Honda as Most-Loved Automobile Brand in Sri Lanka

As with every other industry, the COVID-19 pandemic has had a drastic impact on the globally integrated automotive industry and even more so, on the Sri Lankan automobile market, due to the restrictions on vehicles, motorcycles and scooter imports.

Seylan partners Allianz Lanka for unique offers in motor insurance

Seylan Bank, the Bank with a Heart, announced an exclusive partnership with Allianz Lanka, Sri Lanka’s premier insurance provider, offering a host of benefits on motor insurance premium payments.

DIMO launches Mercedes-Benz Genuine Engine Oil in Sri Lanka

DIMO, one of the leading conglomerates in Sri Lanka, together with its long-standing partner Mercedes-Benz, introduced Mercedes-Benz Engine Oil to the Sri Lankan market recently.

Bajaj Genuine Parts and Genuine Oil are now online

To provide even greater convenience and aftersales service to Bajaj vehicle owners, David Pieris Motor Company (Pvt.) Ltd recently launched ‘bajajgenuine.dpmco.com’, a spare parts e-shop, where Bajaj Genuine Parts and Genuine Oil can be purchased online for the first time in Sri Lanka.

Ideal First Choice introduces Schwing Stetter self-loading mixer to local market

Sri Lanka’s premier automotive solutions provider Ideal Motors (Pvt.) Ltd’s subsidiary Ideal First Choice has broken new ground introducing the Schwing Stetter self-loading mixer to the local market recently.

Launch of ADSTUDIO.CLOUD Revamped Website

ADSTUDIO.CLOUD is back with an exciting news for all its users and beneficiaries. An all improved and highly functional new website has been launched, elevating user experience like never before!

NAITA-Huawei ICT Academy opens; aims skilling over 300 telco engineers annually

National Apprentice and Industrial Training Authority (NAITA) in collaboration with ICT solutions provider Huawei, recently announced opening of NAITA-Huawei ICT Academy for Vocational Training, with presence of Minister of Education - Prof. G.L. Peiris, State Minister of Skills Development, Vocational Education, Research and Innovation – Dr. Seetha Arambepola, Chairman NAITA – Tharanga Gamlath, Huawei Sri Lanka CEO, Liang Yi and other officials.

SLASSCOM-Wijeya Newspapers sign MoU for cooperation in content creation

SLASSCOM and Wijeya Newspapers Limited (WNL) signed a Memorandum of Understanding (MoU) allowing for cooperation between the two institutions to promote and jointly produce articles and video content on SLASSCOM initiatives and events within the Wijeya Group.

Sri Lanka’s Deobox set to enter UK market

Deobox, Sri Lanka’s only registered online subscription business was first introduced in 2019 to cater to discerning Sri Lankans who sought good quality original deodorant products.

Goldman Sachs confident Sri Lanka will “muddle through” near term debt challenges

Goldman Sachs Group Inc. says its calculations point to Sri Lanka “comfortably” meeting all its external obligations falling due in 2021, leaving the country with an estimated US$ 6.4 billion in external reserves by the year-end, although the trajectory beyond that could be more daunting without additional external financing.

Dialog Television extends access to Nenasa and Guru TV free-of-charge

Furthering its efforts to ensure that no child is left behind in continuing their education, Dialog Axiata Group has extended free access to its education bouquet Nenasa Sinhala, Nenasa Tamil and Guru TV channels through Dialog Television and ViU App.

Laugfs Gas suspends LPG imports due to controlled prices

Laugfs Gas PLC yesterday said it had to temporarily suspend the import and distribution of LP Gas due to higher landed costs and controlled cooking gas prices in the domestic market.

Adani Ports looking to raise US$ 500mn via dollar bonds

Adani Ports & Special Economic Zone Ltd (APSEZ), the flagship ports operator of billionaire Gautam Adani’s group, is looking to raise at least US$ 500 million on offshore debt through dollar bonds.

Finance Minister instructs govt. officials not to burden public

Finance Minister Basil Rajapaksa this week instructed people’s representatives and government officials to act in a manner that does not cause inconvenience to the people at a time when the country is in a difficult situation due to the COVID-19 pandemic.