Sri Lankan President Ranil Wickremesinghe has announced a significant initiative to revitalize the country’s gem and jewellery industry. The plan includes opening new mining regions and providing concessions to industry stakeholders. During a recent meeting with industry representatives, President Wickremesinghe revealed plans to initiate mining operations in Sabaragamuwa province and Nuwara Eliya district. This move
Sri Lanka is making significant strides towards increasing its renewable energy capacity with the announcement of two major projects. Power and Energy Minister Kanchana Wijesekera signed a Power Purchase Agreement (PPA) for a 150-megawatt (MW) ground-mounted solar project in Hambantota. This project, representing a $150 million investment, will be developed at the Solar Energy Park
Sri Lanka’s famed Ceylon tea industry, currently grappling with various challenges, is charting a course towards regaining its past glory. A recent event organized by the Advocata Institute brought together key stakeholders to discuss and address the pressing issues threatening the industry’s competitiveness and sustainability in the global market. One of the major concerns identified
Sri Lanka’s tourism industry is off to a promising start in 2024, with February arrivals exceeding all post-pandemic records and pushing the cumulative figure for the year past the 426,000 mark. Record-breaking February: February saw a significant surge in tourist arrivals, reaching a new high of 218,350. This surpasses the previous record of 210,352 set
Hatton National Bank PLC (HNB) has reported robust and sustainable performance for the fiscal year 2023, excelling in various aspects including liquidity, asset quality, capital, efficiency, and profitability amidst prevailing global and local economic uncertainties. In terms of financial performance, HNB recorded a notable increase in profit after tax (PAT), with the bank achieving a
The tea industry has encountered a decline in crop production as it commenced the year 2024, according to reports from Forbes and Walker Tea Brokers. Tea production in January amounted to 18.73 million kilos, reflecting a decrease of 2% or 0.4 million kilos compared to the same period last year. The data further indicates that
Interface Tourism, a prominent marketing and communications agency specializing in the tourism sector, has unveiled a pioneering wellness campaign aimed at promoting Sri Lanka to the French and German markets. Commissioned by the European Union Delegation with the backing of the Sri Lanka Tourism Promotion Bureau, this initiative forms a crucial part of Sri Lanka’s
Dialog Axiata PLC, a leading telecommunications provider in Sri Lanka, has reported positive topline performance across all business segments for the fiscal year 2023 (FY2023). The company’s Group consolidated revenue stood at Rs. 187.8 billion, reflecting a 5% Year-to-Date (YTD) growth. Despite a 7% Quarter-on-Quarter (QoQ) decline in Group revenue for Q4 2023, Dialog’s downstream