Category: Featured
”; Outlook negative
Fitch Ratings has downgraded Singer Finance (Lanka) PLC’s (SFL) National Long-Term Rating to ‘A(lka)’ from ‘A+(lka)’. The Outlook is Negative. The agency has also downgraded SFL’s outstanding senior unsecured debt to ‘A(lka)’ from ‘A+(lka)’, and its outstanding subordinated unsecured debentures to ‘BBB+(lka)’ from ‘A-(lka)’. KEY RATING DRIVERS NATIONAL RATING The downgrade on SFL’s rating is […]
Q3 performance at JKH Group sees turnaround in Leisure business
Summarised below are the key operational and financial highlights of our performance during the quarter under review: • Group EBITDA recorded a significant increase of 126 per cent to Rs.9.53 billion during the quarter under review against the comparative period [2020/21 Q3: Rs.4.21 billion]. • The Group’s businesses recorded strong growth in profitability compared to […]
Renewable energy can be a solution to SL’s energy crisis
Sri Lanka is currently facing an acute energy crisis, primarily due to the country’s reliance on imported fossil fuel. The solution to this is for the country to move on to more renewable sources of energy such as wind, solar, bio-gas, biomass and hydro power. Renewable energy also presents a host of other benefits both […]
Indonesia pledges to strengthen palm oil smallholders
A special meeting was held on the 11th of January 2022 between the Palm Oil Association of Sri Lanka (POIASL) and Her Excellency, Dewi Gustina Tobing, Indonesia’s recently-appointed Ambassador to Sri Lanka. The present role of, and challenges faced by, the oil palm industry in Sri Lanka were discussed at the meeting, with the intention […]
Foreign Minister discusses range of projects with Korean Speaker
Foreign Minister Prof. G.L. Peiris hosted a Lunch on 20 January, 2022 in honour of the visiting Korean Delegation headed by the Speaker of the National Assembly of the Republic of Korea, Park Byeong-Seug. During the lunch, the two sides held detailed discussions on ways and means to further enhance bilateral cooperation between Korea and Sri Lanka. Extending the Government’s deep appreciation […]
Opinion: Special goods and services tax, Issues and concerns
Dr Roshan Perera & Naqiya Shiraz Background The new bill titled ‘Special Goods and Services Tax’ was published by gazette dated 07 January 2022.[1] The Special Goods and Services Tax (SGST) was originally proposed in Budget speech 2021 but was not implemented. It has once again been presented in Budget 2022. The SGST aims to […]
Women in Management, IFC and Government of Australia recognise inspiring women from Sri Lanka and Maldives
The ‘Top50’ Professional and Career Women Awards 2021 – hosted by Women in Management (WIM), in collaboration with Women in Work, a partnership between IFC and the government of Australia – recently honoured inspiring professional and career women in Sri Lanka and Maldives making a mark in their respective fields. The 11th edition of the […]
Opinion: Repay foreign debt or finance essential imports
By Chair of our Academic Programme and former Economic Adviser at the World Bank, Dr. Sarath Rajapatirana, and our Senior Research Fellow, and former Director of CBSL, Dr. Roshan Perera The available foreign reserves of the country can be used to either repay foreign creditors or to finance imports of essential goods and services required […]
Opinion: Diversification vital for the long-term stability of the RPCs
Should optimise assets, not limit themselves to being solely agriculture businesses By Bhathiya Bulumulla Over the past three decades, the Regional Plantation Companies (RPCs) have established themselves as a critical stakeholder of Sri Lanka’s plantation industry. The RPCs were formed in 1992, primarily with the intention of bringing in the private sector, to improve the […]
Eco Spindles aims to increase plastic recycling by 10-pct
Eco Spindles, Sri Lanka’s largest plastics recycler equipped with one of only two plants in the world capable of creating polyester yarn directly from recycled PET plastic flakes, has significantly bolstered Sri Lanka’s recycling capabilities by creating an ecosystem for recycling within the country. This year, the company has seen the culmination of its significant […]
VIDEO INTERVIEW: What will the year 2022 look like for Sri Lanka? W A Wijewardena
“Sri Lanka will have a very gloomy future in 2022. If the government is interested in avoiding it, it has to immediately change the present economic policy Unless the government does that, we are heading towards a major disaster in 2022.” Dr. W A Wijewardena, Former Central Bank Deputy Governor
VIDEO INTERVIEW: What will the year 2022 look like for Sri Lanka? W A Wijewardena
“Sri Lanka will have a very gloomy future in 2022. If the government is interested in avoiding it, it has to immediately change the present economic policy. Unless the government does that, we are heading towards a major disaster in 2022.” Dr. W A Wijewardena, Former Central Bank Deputy Governorhttps://youtu.be/63ldwnrRsuA