Sri Lanka’s banking sector outlook has stabilized, with the Central Bank’s decision to prevent dividend repatriation playing a key role in the sector’s recovery. According to Maninda Wickramasinghe, Managing Director and CEO of Fitch Ratings Lanka Ltd., Sri Lanka can expect a sovereign rating upgrade immediately after the completion of its debt restructuring. At an
Quarterly Financial Review Tokyo Cement Group reported a turnover of Rs. 11,665 million for the first quarter ended 30 June 2024, marking a 3% decline compared to the same period last year. Profit After Tax (PAT) also fell by 18% to Rs. 707 million. The revenue drop, despite increased sales volume, was attributed to price
According to a survey by Verité Research, a Colombo-based think tank, more Sri Lankans are optimistic about the economy, and government approval has significantly increased. The government’s approval rating has surged to 24% in July, a notable rise from 7% in February 2024. Additionally, 28% of respondents rated current economic conditions as “good” or “excellent,”