Category: Industry
CA Sri Lanka’s 43rd national conference to influence chartered accountants to push for transformation
Amidst an unprecedented economic crisis engulfing the country, which has impacted businesses and citizens alike, the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) in its standing as the National Body of Accountants will take the lead to influence Chartered Accountants to push for transformation to help the country successfully navigate through its […]
Port City Colombo to represent Sri Lanka at World Cities Summit 2022
CHEC Port City Colombo is representing Sri Lanka at the World Cities Summit 2022 to be held at the Marina Bay Sands, Singapore from the 31st of July to the 3rd of August 2022. This biennial global event unites city leaders and associates from across 90 countries under this year’s theme, “Liveable and Sustainable Cities: […]
Blockchain platform SORA announced launch XOR currency in Sri Lanka
XOR – a blockchain-based currency under SORA – a blockchain-platform that holds XOR (the currency code for the cryptocurrency SORA) announced the launch of the cryptocurrency in Sri Lanka in July 2022. SORA (XOR) isn’t owned by any single nation or individual, but belongs to all of its users, and is designed as a new […]
Invest to progress, not to regress: bridging the infrastructure gaps in Sri Lanka
By : Tiffahny Hoole and Janani Wanigaratne Sri Lanka is going through a crisis of a magnitude that has never been witnessed in its economic history. The country is in disarray as people wait in lines to purchase essentials. Official reserve assets have plummeted to a US Dollar 1920 1 million by May this year […]
Sri Lanka introduces QR-based National Fuel Pass to manage fuel usage
The Ministry of Power & Energy today introduced the National Fuel Pass allowing the general public to purchase a guaranteed quota of fuel per week. Accordingly, one vehicle can be registered under one National Identity Card, Passport, or Business Registration Number. Registrations are open via fuelpass.gov.lk website. “A QR code will be allocated to each […]
Sri Lanka President steps down officially
Sri Lanka’s Parliamentary Speaker Mahinda Yapa Abeywardena said President Gotabaya Rajapaksa has officially stepped down from his post. He made the announcement speaking to reporters from his official residence, earlier on Friday. Abeywardena said as per Article 38 (1) of the constitution he received the letter of resignation of President Gotabaya Rajapaksa , on Friday […]
Fitch Ratings: Non-European emerging markets vulnerable to EU growth shock
A recession in Europe, which is becoming more likely, would increase external strains and growth challenges for some vulnerable non-European sovereigns, including several in north Africa and south Asia that have high export exposure to the EU, says Fitch Ratings. We forecast the eurozone economy to expand by 2.6% in 2022 and 2.1% in 2023, […]
Business as usual at Hambantota Port despite current fuel crisis in Sri Lanka
Operations at the Hambantota International Port (HIP) from port services, marine services, energy hub, Port Industrial Park and Integrated logistics are running uninterrupted, despite the current fuel crisis in the country. As an essential service, HIP has ensured continuous fuel supply to enable the port to function 24/7 with no disruptions in shipping, logistics operations […]
Investors continue to cash in on the Sri Lankan apparel sector’s resilience
Investors are cashing in on the strong prospects of Sri Lanka’s apparel and textile exports sector, the country’s main export industry, which caters to some of the leading fashion brands globally. Although the South Asian island announced that it would default on its foreign debt earlier this year, the country’s exports and Foreign Direct Investment […]
‘s Bank, Commercial Bank &’s National Ratings on Watch Negative
Fitch Ratings has maintained People’s Bank’s National Long-Term Rating of ‘AA-(lka)’ on Rating Watch Negative. The rating agency has also maintained Commercial Bank’s National Long-Term Rating of ‘AA-(lka)’ on Rating Watch Negative and maintained the ‘A(lka)’ ratings on its subordinated debt on Rating Watch Negative. Meanwhile, Fitch Ratings has maintained Hatton National Bank’s National Long-Term […]
Aitken Spence expands renewable energy portfolio with solar
Aitken Spence PLC reiterates their commitment to local and global sustainable development goals by acquiring Sagasolar Power (Private) Ltd, from the major shareholder LOLC Group for Rs. 1.4 billion. Moreover, it is in line with Sri Lanka’s power and energy strategy to increase power generation from the renewable energy sector. This investment from Aitken Spence […]
SriLankan Airlines denies reports of flight cancellation
SriLankan Airlines would like to correct certain false information circulating on media about the possible cancellation of a host of SriLankan Airlines’ flights due to the ongoing fuel shortage in Sri Lanka. SriLankan Airlines vehemently denies the accuracy of such information and confirms that it has been able to manage its flight schedule with suitable […]