Category: Economy and Markets
EFL 3PL becomes Sri Lanka’s first Carbon Neutral logistics company
Sri Lanka’s largest logistics solutions company, EFL’s five-year march towards achieving a more sustainable operational model culminates in its certification as ‘Carbon Neutral’ as of 1st April 2021. The company’s achievement remains the culmination of a series of systematic initiatives implemented since 2016, which looked to transform its business into a far more efficient and […]
‘s headline inflation increased to 5.1-pct in March
Headline inflation as measured by the year-on-year (Y-o-Y) change in the National Consumer Price Index has been increased to 5.1 percent in March 2021 from 4.2 percent in February 2021 due to the statistical effect of the low base prevailed in March 2020. Food inflation (Y-o-Y) increased to 8.8 percent in March 2021 from 6.9 […]
CBSL introduces priority sector lending target on credit granted by banks to MSME sector
Sri Lanka’s Central Bank has introduced a priority sector lending target on credit granted by banks to individuals and businesses in the Micro, Small, and Medium Enterprises (MSME) sector. Accordingly, banks shall grant credit to the MSME sector and ensure a growth rate of not less than 20 percent per annum on a Y-o-Y basis, […]
GoMicro seals commercial contract with Keells Supermarkets to assess tuna quality with AI
The United Nations’ Food & Agriculture Organisation estimates that up to one third of global primary produce is wasted. Minimising food wastage could bring significant benefits to many people around the world. Issues around food freshness and storage are a critical component in this context. For instance, more than 30% of the fish landed on […]
Emirates to increase services to Colombo to 7 a week from 3 May
Emirates has announced it will increase its services to Colombo from six to seven flights a week, with the seventh weekly flight commencing 3rd May. The additional service will serve rising market demand and enhance connectivity to and from Colombo via Dubai. The added flight will operate every Monday. Emirates flight EK650 will depart Dubai […]
Eco Spindles talks responsible recycling at CFW’s Responsible Fashion Summit
At the recently concluded Responsible Fashion Summit organised by the Colombo Fashion Week (CFW), Sri Lanka’s largest plastic recycler Eco Spindles was among industry experts in an invaluable panel discussion themed ‘Circularity in a Fashion Supply Chain’. Representing Eco Spindles at the discussion, Chief Executive Officer at Eco Spindles Yarns, Nalaka Seneviratne elaborated on how […]
WindForce shares off to a strong start on Colombo Stock Exchange
The shares of WindForce Limited, the pioneers in the growth and supply of renewable energy in Sri Lanka, will commence trading on the Main Board of the Colombo Stock Exchange (CSE) from the 22nd of April 2021 onwards, following its highly-successful Initial Public Offering (IPO). The strong showing of the shares on the opening days […]
First Capital Money Market Fund – fastest to reach LKR 20bn in assets under management
The First Capital Money Market Fund has been the fastest fund in its category (Open-Ended Money Market Fund) to surpassed LKR 20 billion in Assets Under Management. The fund is managed by First Capital Asset Management Limited the wealth management arm and subsidiary of First Capital Holdings PLC (the Group). The Fund is the best […]
RPCs urge priority for worker vaccination ahead of new wave of COVID cases
The Planters’ Association of Ceylon (PA) called on Government and Public Health officials to ensure that estate-sector workers made a top priority in the COVID-19 vaccination drive, given their essential contributions to the national economy. In a backdrop where COVID-19 cases are once again on the rise both locally and globally, while preparations are already […]
Sri Lanka rupee strengthened against the US dollar
The Sri Lanka rupee further strengthened against the US dollar yesterday, on positive outlook for inflows. The selling rate was quoted at 191.97 rupees for a US dollar, as against 201.28 rupees on Friday and a peak of 204.62 rupees last week. The indicative dollar spot exchange rate was 194.44 rupees yesterday as against 199.93 rupees […]
Sri Lanka vehicle registrations down in March 2021
Total vehicle registrations marginally reduced to 3,556 units in March down from 3,558 units in Feb but significantly down from 13,219 units 12 months ago. The comparative figure was 35,150 units 24 months ago. In the locally assembled category Under cars Zotye Z100 recorded 22 units in March down from 79 units in Feb and […]
Colombo Port City – Projecting SL as newest commercial landscape in Asia
Veemansa Initiative, an independent think tank recently held a Webinar on the proposed Colombo Port City Economic Commission Bill and related subjects. Based on the deliberations at the webinar and the follow-up analysis, it was evident that the Colombo Port City Project, a 100% foreign investment venture plans to attract a diverse group of secondary […]