Economic
Dialog Axiata PLC has posted a robust first quarter with consolidated after-tax profit growth of 65% to Rs. 2.43 billion.
The Sri Lanka Telecom PLC (SLT) Group has released its financial results for the first quarter of 2021, with a remarkable 14.3% year-on-year growth in Profit After Tax (PAT) to Rs. 2.1 billion.
Sampath Bank Plc yesterday announced a Profit Before Tax (PBT) of Rs. 6.1 billion in 1Q of 2021 compared to Rs. 3 billion a year earlier denoting a growth of 101%, while Profit After Tax (PAT) had increased by 83% to Rs. 4.6 billion.
The country's GDP would suffer an estimated loss of Rs 150 billion if a lockdown is imposed for 10 days, said State Minister of Money and Capital Market.
Speaker Mahinda Yapa Abeywardena will announce the Supreme Court determination on the Colombo Port City Economic Commission Bill to the House tomorrow.
Despite the adverse impact on business, the tourism industry yesterday supported the decision taken by the Government to impose stricter travel guidelines considering the current spike in COVID-19 cases. The leading tourism organisations — The Hotels Association of Sri Lanka (THASL) and Sri Lanka Association of Inbound Tour Operators (SLAITO) – assured that they would abide by the protocols in place to support the country to overcome the current COVID-19 situation.
Ahead of debate this week, Parliamentary Committee on Public Finance briefed on progress and plans of Port City
BOI says ready for first investment in Port City
$ 100 b investment to be implemented in 2 phases
Work on International Financial Centre scheduled for completion in 2025
Committee says projects that get tax concessions must contribute to overall economy
The Colombo stock market closed on the up yesterday, even though it finished the week on a negative note.
ත්රිපෝෂ නිෂ්පාදනයට අවශ්ය බඩඉරිඟු මෙට්රික් ටොන් 2500ක් සොයා ගැනීමට නොහැකිව ත්රිපෝෂ නිෂ්පාදනය නතර වීමේ අවදානමක් මතුව තිබේ. පාලන මිල ඉක්මවා බඩඉරිඟු අලෙවි කිරීම හේතුවෙන් මෙම තත්ත්වය උදා වී ඇත.
The Central Bank (CB) is expected to hold policy rates steady at Thursday’s Monetary Policy Review for May, predicts First Capital.
The Consumer Affairs Authority has been instructed not to proceed with legal action relating to the new hybrid 18-litre cylinder introduced by Litro Gas Lanka, a top official of the CAA revealed yesterday.
Value growth highest in a year as March marks 8th consecutive month of gain
First Capital says high growth confirms businesses and individuals speeding-up economic activities
ICRA Lanka foresees credit demand to moderate in April
Central Bank has forecast private sector credit to grow by 14% in 2021 as against 6.5% last year
“The BOI enterprises are encouraged to continue operations, while strictly adhering to the guidelines issued by the Ministry of Health. The countrywide travel restrictions will not cause any inconvenience to the cargo movements and logistic facilities. Exports of the companies will continue unabated amidst travel restrictions,” BOI Chairman Sanjaya Mohottala said in a statement yesterday.
The Colombo stock market yesterday managed to close marginally on the up as investor sentiment struggled amidst worsening COVID-19 situation in the country.
The Sri Lanka Tourism Development Authority (SLTDA) yesterday received the green light from Health Services and the Police to allow tourists to move between provinces in a bio-bubble setting.
The Commercial Bank Group, led by Sri Lanka’s benchmark private sector bank, has generated strong growth in fund-based operations in the first quarter of 2021, with the continuing trend of interest expenses reducing at a significantly higher rate than interest income combined with judicious management of core banking operations.
As the third COVID-19 wave continues to sweep across Sri Lanka, Central Bank Governor Prof W.D. Lakshman yesterday said growth projections for 2021 may need to be reassessed and the monetary institution was closely monitoring the evolving situation.
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