Listed firms 1Q earnings gain 16% to Rs. 61 b

Earnings of listed companies witnessed a sharp growth of 16% in the first quarter of 2016 to Rs. 61 billion as against a 5% improvement in the fourth quarter of last year. 

Capital Alliance Research attributed the “strong growth” due to weaker economic conditions during 1Q2015. Trailing twelve month (TTM) market earnings grew 3.3% year on year (YoY) to Rs.209.2 billion supported by low interest rates and improving disposable incomes driving consumption, compared to 17.1% during the same period last year due to improved economic conditions starting 4Q 2014. 

Japanese firms keen on Sri Lanka’s investment potential

Japan External Trade Organization Chairman and CEO Hiroyuki Ishige

Sri Lankans understand importance of healthy living  more than most Asians, but are not acting on it!

AIA Sri Lanka has released the Sri Lanka results of AIA’s 2016 Healthy Living Index Survey, which is carried out across Asia-Pacific. In the survey an astounding 95% of Sri Lankans acknowledge that there are definitely things they can do to improve their health but only 8% have taken major steps towards healthy living! So, whilst Sri Lankans have a high awareness of the importance of healthy living, we are not really doing much about it!

Business confidence unchanged in March

The March LMD-Nielsen Business Confidence Index (BCI)remained in line with the previous month, shedding a single point (to 154) from where the unique barometer of corporate sentiment stood in the previous month, the latest edition of business magazine LMD reports. “Concerns about the economy and investment climate, as well as interest rates, mirror a slight dip in business confidence, with fiscal reforms set to lead to further discontent,” it explains.

ADB upbeat on SL

ADB President Takehiko Nakao answers questions from the international media at the opening press conference of the 49th Annual Meeting of the ADB Board of Governors in Frankfurt, Germany.

India’s IT industry extends ETCA olive branch

NASSCOM President R. Chandrashekhar – Pic by Sameera Wijesinghe

By D.C. Jayasundera

India’s top IT industry body that commands 55% of the total global outsourcing market has called on its Sri Lankan counterpart to visit and discuss the proposed Economic and Technology Cooperation Agreement (ETCA) in an effort to build trust and find a mutually-beneficial way forward.

Japan to support Sri Lanka’s  Electricity Sector Master Plan Study

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A signing ceremony was held 1st April on the Record of Discussion for Technical Cooperation Project titled “The Project on Electricity Sector Master Plan Study” at the JICA Sri Lanka Office. The Record of Discussion was signed by the Secretary of Ministry of Power and Renewable Energy Dr. B.M.S Batagoda, Director General of Department of External Resources R.M.P. Rathnayake, the Ministry of National Policies and Economic Affairs, the General Manager of Ceylon Electricity Board M C Wickramasekara, and the Chief Representative of the JICA Sri Lanka Office Kiyoshi Amada.

Govt. to uplift vocational training sector to provide more opportunities for youth

President Maithripala Sirisena says his government will give high priority to improve country’s vocational training sector to provide more opportunities for the country’s youth who are unable to receive higher education.

Speaking at the progress review meeting on National School of Business Management, which is under the Ministry of Skills Development and Vocational Training, at the President’s Office Wednesday, the President said the physical and human resources of the countrywide vocational training centers will be enhanced as the training at these institutions is weakened due to lack of resources.