SriLankan Airlines’ annual loss climbs to $525 million amidst exchange loss
Cash-strapped Sri Lanka’s national airline announced a staggering $525 million annual loss on Friday. Despite posting an operating profit of Rs. 1.7 billion in FY22 for the first time in…
Market struggles as economic fear persists on DDR
Bourse extended dull sentiment, down marginally as investors continued to remain on the sidelines over rising concerns over Domestic Debt Restructuring (DDR) and waiting for a clear direction on the…
One-Third of the families receiving Samurdhi benefits not entitled to Samurdhi benefits – COPA
The Committee on Public Accounts (COPA) disclosed that almost 33% of the families receiving the Samurdhi benefit are families who should not be entitled to the Samurdhi benefit. According to…
Leading luxury Tour Operator Kuoni pledges backing for Sri Lanka
Leading luxury Tour Operator Kuoni has pledged to drive bookings to Sri Lanka by holding its first overseas sales managers’ conference since pre-pandemic 2019 in the country. Sri Lanka has long…
USAID and ADB Help Power Sri Lanka’s Women in Energy
Women working in Sri Lanka’s energy sector gained a powerful tool this week to promote their advancement in the industry with the launch of the Sri Lanka National Chapter of…
Sri Lanka seeks $17 billion debt reduction by restructuring
(AP) — Sri Lanka’s president urged lawmakers Wednesday to approve a four-year International Monetary Fund program to reduce the country’s debt by $17 billion through restructuring. Parliament began a three-day…
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Corporate Earnings See First Downturn Since 2020 Amidst Economic Crisis
December (2022) quarter earnings declined by 43.9%YoY to Rs.96.4 billion for 281 listed companies on Colombo Stock Exchange (CSE) owing to sluggish performance primarily in the Capital Goods (-82.6%YoY), Transportation…
USAID Supports Power Up Trial of E-battery Swapping Stations in Colombo
The United States Agency for International Development (USAID) Sri Lanka Energy Program and Sling Mobility (Pvt.) Ltd. signed a grant agreement on April 18 to develop and operate two battery…
Analysis-Debt crunch looms for weaker economies with a wall of bond maturies ahead
(Reuters) – A combination of sticky high interest rates and lacklustre global growth could push a number of emerging economies that are facing soaring refinancing needs into debt difficulties next…
Exporters turn less pessimistic on economic outlook despite expected revenue slowdown in 2023
In terms of the outlook for 2023 and in particular the first half of 2023, export firms have turned more optimistic in their views on the economy relative to six…