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No-one seems to know precisely how many business enterprises the government owns. Official government figures suggest 55 businesses, but these are only those which are considered to be strategic.The Mid-Year Fiscal Position Report - 2019 issued by the Minister of Finance suggests that there are 422 state-owned enterprises (SOEs), whilst the a research based on data … [Read more...] about Daily Mirror – Eliminating burden of state-owned enterprises on Sri Lankan people

New Treasury Secretary and Finance Ministry Secretary S.R. Attygalle assuming duties at Finance Ministry in the presence of senior Finance Ministry officials and Acting Inspector General of Police C.D. Wickramaratne The new Treasury Secretary and Finance Ministry Secretary S.R. Attygalle yesterday pledged to rebuild the lost honour and glory of the Treasury, working … [Read more...] about Daily Mirror – New Treasury Secy. pledges to restore Finance Ministry’s lost honour

The Sri Lanka Food Processors Association recently held its 22nd Annual General Meeting at the Winchester Hall of the Kingsbury Hotel in Colombo. Founded in 1997 as an advocacy group, the Sri Lanka Food Processors’ Association currently consists of over 130 member companies, which include large and multi-national, as well as small and medium enterprises (SME’S) … [Read more...] about Daily Mirror – Sri Lanka Food Processors Association holds 22nd AGM

Says growth continues to be adversely affected by shocks Expects growth to pick up as security concerns and political uncertainty dissipate Lists out five priority reform areas in latest Asia Economic Focus report In its latest edition of the South Asia Economic Focus, the World Bank expects Sri Lanka’s economic growth to decelerate to 2.7 percent by the end this year … [Read more...] about Daily Mirror – WB cuts SL’s economic growth forecast to 2.7%

The country’s foremost economic event, Sri Lanka Economic Summit (SLES) 2019, kicks off at Cinnamon Grand Colombo, today. The two-day event is themed around Recalibrating Sri Lanka’s Economic Trajectory Towards 2025, to guide Sri Lanka’s journey towards development and prosperity.Today’s event brings together over 450 local and international participants consisting of … [Read more...] about Daily Mirror – SL Economic Summit 2019 opens today

Sri Lanka’s small and medium-sized banks (SMBs) will have to brace for a turbulent period ahead, stemming from the weaker asset quality and pressure on profits among a host of other problems in a hobbling economy, Fitch Ratings said in a brief note on the club of seven banks.Fitch Ratings, which analysed the profiles of the small and mid-sized banks operating in Sri … [Read more...] about Daily Mirror – Rocky path ahead for Sri Lanka’s small and mid-sized lenders, says Fitch

 One of the key growth drivers of the global liquefied petroleum gas (LPG) market is the use of LPG as a cooking fuel, primarily seen growing rapidly in countries in the Asia-Pacific, Africa and South and Central American regions. This segment accounted for more than 40 percent of overall LPG consumption in 2017, according to the Statistical Review of Global LPG 2017, … [Read more...] about Daily Mirror – Putting Sri Lanka on map as a regional energy hub

 The Institute of Policy Studies’ (IPS) New Thinkers Symposium saw researchers from several think tanks presenting their work on broad topics under the theme of technology and economic transformation. They highlighted the need for dynamic and innovative thinking to succeed in the era of the Fourth Industrial Revolution (4IR) in the areas of agriculture, megatrends, social … [Read more...] about Daily Mirror – Succeeding in 4IR era: Opportunities and challenges for Sri Lanka

AIA Insurance Lanka PLC yesterday said it will delist the company’s shares from the official list of the Colombo Stock Exchange (CSE) in compliance with the applicable regulations and procedures, while at the same time reaffirming its commitment to the Sri Lankan market. The proposal to delist was approved by the requisite shareholder majority at the Extraordinary General … [Read more...] about Daily Mirror – AIA receives shareholder nod to delist shares from CSE

  Sector non-performing loan ratio has spiked to 7.7% by end-2018, from 5.9%  end-2017 Loan growth has slowed to 9% by end-2018, from a high of 31% in 2015 The sluggish economy and deceleration of vehicle sales are hurting Sri Lanka’s non-bank lenders, as the sector is facing risks raging from weaker asset quality, muted growth, underwhelming profitability and need for … [Read more...] about Daily Mirror – Weak economic growth, slowing vehicle sales pinch non-bank lenders most: Fitch