The Institute of Certified Management Accountants of Sri Lanka (CMA) stated that the accounting professional can aid in costing the products and services in the electricity industry so that the country’s energy....
Sri Lanka as a nation must step up efforts in establishing a social market economy, so that going forward the people can move forward with the assurance of sustainable growth and development, President Ranil Wickremesinghe said.
The leading economists of the Verite Research Sri Lanka Economic Policy Group (SLEPG) called on the relevant authorities to steer away from using Samurdhi as a determinant of eligibility for welfare benefits and instead, consider electricity consumption for targeting vulnerable groups, as it is a superior method.
The Sri Lanka Tea Board (SLTB) along with industry stakeholders seeks a well-coordinated and synergised mechanism from the government to resolve the fuel and agrochemical shortages threatening Sri Lanka’s tea production and industry sustainability.
China continuously pops up as one of the key sticking points for Sri Lanka to reach the much needed debt sustainability as Fitch Rating this week too weighed in on the matter saying that the world’s second biggest economy could complicate the island nation’s debt talks with its creditors.
John Keells Holdings PLC (JKH) reported some robust top and bottom-line performance in the three months to June (1Q23), despite the multiple vagaries coming from the economic crisis, as the business activity reached its pre-pandemic levels across all segments compared to a year ago when virus-related restrictions dampened the performance.
The status of Sri Lanka’s fast-crumbling economy has been attributed to many factors, but the key reason for the downfall of the island nation is that it has been on a ‘champagne diet with a kassipu income’ for a bit too long, according to a top economist in the country.
Sri Lankan exporters are set to experience increased air freight rates amid capacity constraints stemming from reduced frequencies and limits on payloads, caused by the acute jet fuel shortage in the country.
With no credible solution in sight to resolve the jet fuel shortage and the fund repatriation issues faced by the country’s aviation industry, several airlines are contemplating on suspending their operations to Sri Lanka threatening tourism industry’s recovery, which depends on air connectivity.
In order to ensure the implementation of an effective tariff revision, which sustainably addresses Sri Lanka’s energy requirements, the Ceylon Chamber of Commerce (CCC) submitted suggestions and recommendations on the proposed electricity tariffs to the Public Utilities Commission of Sri Lanka (PUCSL) this week.
Crisis-struck Sri Lanka need not wait for support from the International Monetary Fund (IMF) to get its act straight, and must get about rolling out fiscal reforms at the earliest to help ease the ongoing pressures stemming from economic mismanagement, a former Central Bank official said.
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