NAVIGATE
:
Home  » Business

Business

 
 

Drought-driven inflation expected in the days ahead



article_image

Although the World Bank predicts that Sri Lanka's inflation level would increase this year and the next, the country's inflation is not that high right now. It is now at a moderate level. But due to the drought conditions the agriculture sector would be badly affected, creating some reflationary pressure to the country in the days ahead, Professor of Economics, University of Colombo Dr. Sirimal Abeyratne said.

"This inflationary trend would have ripple effects among all sectors. Consequently, there would be an increase in the prices of essential products and the cost of production may rise many fold, Abeyratne told The Island Financial Review. He said that more than 30 percent of the population depends on the agriculture sector and given the drought condition, prices of some necessities will increase, Abeyratne explained

Read More...
 
 

Singer Sri Lanka reports strong growth in 2016

test

Singer (Sri Lanka) PLC announced its results for the year ended December 31, 2016. The results showed excellent growth. Group Revenue increased 21% over the previous year to Rs. 46.9 Billion and Group Net Profit increased 91% to Rs. 2,358 Million.

Pan Asia Bank posts record high profit of Rs.1.8 billion for FY 2016

Pan Asia Bank, closed its financial year ended December 31, 2016 recording a profit before tax of Rs 1.8 billion, an increase of 17% over the previous year.Meanwhile the Bank increased its Profit after tax by 20% for the same period to Rs.1.25 bill...

Galle Face Hotel hosts United States Congress Representatives

test

South Asia’s leading Grande Dame, the Galle Face Hotel is one of Colombo’s most iconic institutions. For over 150 years, the landmark hotel has set the bar for luxury accommodations and is the preferred choice for guests. Recently, the ho...

Agreement to deliver market-leading Learning Management System

test

E W Information Systems Ltd (EWIS), celebrating 30 years in the IT industry, together with Learning Possibilities Ltd, a Microsoft Global Alliance Partner, has announced an agreement to roll out the fully featured Learning Management System (LMS) LP+...

Save Your Monkey embarks on a mission to ensure a protected Sri Lanka

test

Insurance is viewed as one of the many tiresome legal obligations by most Sri Lankans. The real purpose of it and the value it serves is overlooked by many. They fail to appreciate insurance, simply because it seems too complicated to understand and ...

Blue chip stocks very much in demand

The demand for blue chip stocks in the Colombo Stock Exchange (CSE) saw an increase over the demand for normal retail stocks yesterday. The reason for this situation was that retail investors are still out of the market and are not active due to poli...

Sri Lanka’s Umavi Pathirana presents research at 2nd APCCR forum in KL

Umavi Pathirana recently presented a research paper on "Simplifying Legal Statements using Natural Language Processing" at the 2nd Asia Pacific Conference on Contemporary Research (APCCR) in Kuala Lumpur, Malaysia. Ms. Pathirana, a recent g...

EFC’s ICT Training Centre trains visually impaired in internet surfing

test

An extension of the ‘Beyond the Reach’ initiative implemented by the Sri Lanka Chapter of the Internet Society together with The Employers’ Federation of Ceylon’s (EFC) Network on Disability, ‘Surfing the Internet’ ...

Lanka Bell races to connect 35,000+ households and businesses in record time with Bell4G

test

Lanka Bell, Sri Lanka’s iconic telecom operator has achieved a significant milestone by reaching 35,000+ households and businesses with its fourth-generation LTE internet connectivity branded as Bell4G. Within a short duration, Bell4G has ...

HNB offers host of new benefit packages through milestone agreement with Indra Traders

test

Commencing in February this year, the nation’s premier vehicle, importer and distributor, Indra Traders struck a partnership with Sri Lanka’s leading private sector bank, HNB, to offer customers mega benefits in addition to purchasing a t...

 
 
 
 
 
 
animated gif
Processing Request
Please Wait...