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
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Daily Mirror – Putting Sri Lanka on map as a regional energy hub
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
Daily Mirror – Succeeding in 4IR era: Opportunities and challenges for Sri Lanka
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
Daily Mirror – AIA receives shareholder nod to delist shares from CSE
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
Daily Mirror – Weak economic growth, slowing vehicle sales pinch non-bank lenders most: Fitch
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
Red clay roofing tile industry urges govt. to relax excessive red tape blocking raw material sourcing – Daily Mirror
Says excessive red tape hikes production costs Number of active clay roofing tile plants down to 200 By Nishel FernandoSri Lanka’s red clay roofing tile industry recently urged the government to reduce excessive regulations and procedures in place with regard to sourcing their main raw material—clay— which has hiked the cost production, driving over 200 clay roofing … [Read more...] about Red clay roofing tile industry urges govt. to relax excessive red tape blocking raw material sourcing – Daily Mirror
KKS port area to be made vibrant economic hub: PM – Daily Mirror
Prime Minister Wickremesinghe and Ports Development Minister Sagala Ratnayaka taking a look at the development planPic by Pradeep Pathirena Prime Minister Ranil Wickremesinghe said step would be taken to develop a vibrant economic hub around the Kankesanthurai harbour that would be transformed into a commercial port with Indian assistance.Wickremesinghe visited the … [Read more...] about KKS port area to be made vibrant economic hub: PM – Daily Mirror
Hutch signs BOI agreement to invest US $ 115mn – Daily Mirror
From Left: Hutch Head of Legal Sharmini Jayasuriya, CFO Lalith Fernando, Finance and Operations Advisor Bandhunath De Alwis, CEO Thirukumar Nadarasa CEO Hutch, BOI Director General Champika Malalgoda Director and Senior Deputy Director-Legal, Shama Herath Hutchison Telecommunications Lanka (Pvt) Ltd (Hutch) signed a supplementary agreement with the Board of Investments … [Read more...] about Hutch signs BOI agreement to invest US $ 115mn – Daily Mirror
Govt. to spend extra Rs.1.2bn on plantation sector worker wages – Daily Mirror
From right: Plantation Industries Minister Navin Dissanayake, Sri Lanka Tea Board Chairman Lucille Wijewardena and a Sri Lanka Tea Board official Pic by Kushan Pathiraja By Nishel FernandoThe government yesterday said it would contribute Rs.50 to the daily wage of every tea plantation worker, for a period of one year, which can only be described as a desperate measure to … [Read more...] about Govt. to spend extra Rs.1.2bn on plantation sector worker wages – Daily Mirror
Sri Lanka advertises for hangmen – Daily Mirror
Sri Lanka began advertising for hangmen this week, as the President Maithripala Sirisena pushes ahead with a hardline policy modeled on the Philippines, to combat drug trafficking. The photo shows a man reading an advertisement of the vacancy for hangmen published on a local newspaper(Reuters Photo)Source link … [Read more...] about Sri Lanka advertises for hangmen – Daily Mirror
