Economy

Achieves strong performance despite third wave impact on leisure sector Group EBITDA, excluding leisure industry group, up 139% to Rs. 5.41 b Group revenue up 80% to Rs. 38.8 b Posts Rs. 1.3 b PBT as against Rs. 2.4 b loss a year earlier JKH bottom line turns positive at Rs. 1.5 b compared to negative Rs. 1.6 b in 1Q FY20 Leisure industry group’s Rs. 649 m … [Read more...] about JKH ups 1Q EBITDA by 496% to Rs. 4.76 b

President Gotabaya Rajapaksa   President Gotabaya Rajapaksa on Monday expressed hope that more countries would be inspired by Sri Lanka’s bold approach to sustainably transforming its agricultural system to organic agriculture to ensure food security and nutrition for future generations.The President made these remarks addressing the virtual session of the … [Read more...] about President urges world to follow SL’s bold organic move at UN Food System Summit

Against widespread fears and claims of default sans multilateral donor help, Sri Lanka yesterday completed the groundwork towards the settlement of $ 1 billion worth of International Sovereign Bonds (ISBs) maturing today.Source link … [Read more...] about SL disappoints doomsayers!

Opines far too much discretion vested with regulator, and if in the wrong hands it will kill the market Describes right to bring civil action as ‘double barrelled provision’ Cautions once Act becomes operative, costs of operation will rise significantly; possibility of spate of litigation that will follow Says will never get on to a board of a listed company … [Read more...] about Wikramanayake fires warning over new SEC Bill

Declares several clauses in bill as inconsistent with Constitution Action comes after bill was presented to House on Tuesday Says bill encourages further tax evasion and will not secure a net benefit to the State Would be discriminatory of taxpayers/citizens who have already paid relevant taxes Some clauses in bill are arbitrary, irrational, grossly … [Read more...] about Eran takes tax amnesty bill to Supreme Court

 Provisional data for first 7 months shows performance of $ 183 m as against $ 90 m a year ago 2021 likely to overtake 2020 full year export performance of $ 211 m Industry wary of future after Govt. decision to bring gold under licensing scheme Govt. move sees gold prices in local market soar by 100%  Officials confident of sustaining export momentum with … [Read more...] about Gem, diamond and jewellery exports double

  61 votes in favour, 152 against Ranil supports motion All SLPP MPs rally behind Gammanpila to vote against motionThe no-confidence motion against Energy Minister Udaya Gammanpila was defeated by a majority of 91 votes, with 152 voting against the motion and 61 in favour. Energy Minister Udaya GammanpilaThe Samagi Jana … [Read more...] about Gammanpila survives no-confidence motion by 91-vote majority