All Blogs
Teejay optimistic with capacity expansion despite challenging Q1
Teejay Lanka PLC has begun 2023-24 with a strong balance sheet, closing an extremely challenging first quarter with cash and cash equivalents of Rs 9.6 billion, despite a decline in earnings. Sri Lanka’s first multinational textile manufacturer has reported revenue of Rs 14 billion for the three months ending 30th June, reflecting a reduction of […]
Seylan Bank reports impressive 1H 2023 profitability and strong growth
Seylan Bank, has demonstrated exceptional resilience and growth in challenging market conditions, recording an impressive Profit before Tax (PBT) of LKR 4.2 billion, a 104.65% increase for 1H 2023 compared to the same period in 2022. In addition, the Bank achieved a commendable Profit After Tax (PAT) of LKR 2.6 billion, a 71.29% growth over […]
Sri Lanka Aims for RCEP Membership and Free Trade Agreements with ASEAN: President
President Ranil Wickremesinghe revealed that Sri Lanka’s intention to join the Regional Comprehensive Economic Partnership (RCEP) is poised to materialize following the conclusion of credit optimization initiatives. Additionally, the President announced plans to initiate negotiations for the establishment of free trade agreements with corresponding ASEAN member countries. President Wickremesinghe’s statement underscores the country’s determination to […]
Bridging Conservation and Livelihoods: Addressing the Human-Elephant Conflict in Sri Lanka
By Ruwan Samaraweera Written ahead of World Elephant Day, observed on 12 August 2023. Introduction On World Elephant Day, attention turns to the unique challenges faced by Sri Lanka in the realm of human-elephant conflict (HEC). HEC’s escalating toll paints a stark reality. Human communities endure property damage, crop loss, and tragic fatalities, amplifying poverty […]
13 acres added to conservation forest maintained by Heritance Kandalama
In line with its long-standing commitment to environmental sustainability, Aitken Spence Hotels is proud to announce the expansion of Heritance Kandalama’s biodiversity forest oasis. This significant investment sees an additional 13 acres of land added to the conservation forest area, which now spans 211 acres creating a secure forest bridge within the existing Forest Department […]
Central Bank reduces Statutory Reserve Ratio by 2-pct to inject liquidity into banking system
The Monetary Board of the Central Bank of Sri Lanka, at its meeting held on 8 August 2023, decided to reduce the Statutory Reserve Ratio (SRR) applicable on all rupee deposit liabilities of Licensed Commercial Banks (LCBs) by 200 basis points, from 4.00 per cent to 2.00 per cent, with effect from the reserve maintenance […]
Hayleys Plantations pioneers sustainable tea tourism, signs MOU with Pekoe trail
Hayleys Plantations, a member of Sri Lanka’s largest and most diversified conglomerate the Hayleys Group, has embarked on an exciting partnership with “The Pekoe Trail,” a visionary sustainable initiative aimed at revitalising the country’s tourism sector. Comprising three major Regional Plantation Companies (RPCs), namely Kelani Valley Plantations PLC (KVPL), Talawakelle Tea Estates PLC (TTEL), and […]
CSE and stockbroker firms take lead in attracting Indian firms
“Invest Sri Lanka” is a series of forums organized by the Colombo Stock Exchange (CSE) in partnership with Stock Broker Firms, to promote foreign portfolio investment into the Sri Lankan Stock Market by showcasing investment opportunities in leading Sri Lankan listed companies. The investor forums have previously conducted in key foreign markets, including the UK, […]
Embarking on ‘Green RoadTrip’ seeking environmental justice
The inaugural session of the ‘Green Roadtrip’, a project to mobilize communities for environmental justice across the country was successfully held recently in Colombo. This series of events will be implemented by the Centre for Environmental Law and Policy of the University of Colombo, through the Support to Justice Sector Project (JURE), funded by the European Union […]
SJB will invest more in soft infrastructure such as health and education: Eran
SJB MP Eran Wickramaratne said that the health sector has become a death trap for patients. Importation of inferior medicine in the guise of emergency purchasing and non-functioning medical, surgical and other test equipment in hospitals (the government has no money to invest in the health sector) has pushed the health services in to abyss. […]