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
Opinion and Issues
Campaigns of cruelty | Daily FT
Eleven human rights organisations including global watchdogs Amnesty International and Human Rights Watch have raised the alarm about the continued incarceration of attorney Hejaaz Hizbullah, who has now been held in detention for a year and two months. The rights groups have flagged the indictment filed against Hizbullah in February 2021, alleging that he had … [Read more...] about Campaigns of cruelty | Daily FT
President urges world to follow SL’s bold organic move at UN Food System Summit
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
SL disappoints doomsayers!
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!
Wikramanayake fires warning over new SEC Bill
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
Eran takes tax amnesty bill to Supreme Court
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
Gem, diamond and jewellery exports double
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
Gammanpila survives no-confidence motion by 91-vote majority
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
Sri Lanka and Bahrain discuss moves to strengthen ties
In line with the mandate of the State Ministry of Regional Cooperation to enhance economic relations with the Middle East, State Minister of Regional Cooperation Tharaka Balasuriya held a phone discussion with Kingdom of Bahrain Minister of Industry, Commerce and Tourism Zayed bin Rashid Al-Zayani.This discussion was initiated to bolster Sri Lanka’s economic ties … [Read more...] about Sri Lanka and Bahrain discuss moves to strengthen ties
Swallow pride and go to IMF
There are two or three ways of benefiting by seeking help from the IMF. Firstly, it is the cheapest source of credit available in the market, but subject to certain conditions. Secondly, approaching the IMF gives an indication to Western powers that Sri Lanka has re-joined the IMF family and is prepared to play even-handedly at least between the West and China. … [Read more...] about Swallow pride and go to IMF