Friday June 20, 2025 6:11 pm
Friday June 20, 2025 6:11 pm
ECONOMYNEXT – Sri Lanka’s Deputy Minister of Finance and Planning Harsha Suriyapperuma has resigned his seat, the parliament said, amid speculation that he will be the next Treasury Secretary.
His resignation is effective June 20, the parliament said in a statement.
Suriyapperuma, who has a doctorate is business is an accounting professional entered parliament as a national list member of the ruling NPP party.
Earlier in the day opposition legislator Ravi Karunayake asked in parliament whether he would soon leave the parliament to be Treasury Secretary. (Colombo/June20/2025)
Friday June 20, 2025 8:52 pm
Friday June 20, 2025 8:52 pm
ECONOMYNEXT – Two Boeing official had a meeting with the Sri Lanka Civil Aviation and Colombo Airport Authority (CAASL) on the Boeing 777-9 operations at Bandaranaike International Airport, the Airport Authority said, a week after Boeing Dreamliner crash in India.
More than 240 people were killed when an Air India Boeing 787-8 Dreamliner bound for London crashed moments after taking off from the city of Ahmedabad on June 12 in the world’s worst aviation disaster in a decade.
Richard Vaisvila and Napoleon Tomasino from Boeing Airport Operations Engineering, USA, visited Bandaranaike International Airport (BIA) and had a meeting with the key officials of Airport and Aviation Services (Sri Lanka) Limited (AASL), CAASL, SriLankan Airlines and senior technical officers on the Boeing’s latest 777-9 operations expected to start in 2026, the AASL said in a statement.
“The representative made an awareness presentations on design of the B777-9 which combines the proven performance of the B777-300ER with the latest advanced technologies of the B787, including a 4th generation composite wing to balance the aerodynamic efficiencies of an ICAO Code F wingspan during flight with the airport compatibility of a Code E aircraft while on the ground, this aircraft incorporates a folding wingtip (FWT) mechanism,” the AASL said.
It said the new configuration results in economic and environmental improvements over today’s B777s.
“Additionally, this B777 derivative improves on previous derivatives by minimizing the costs and impacts to the airports by adding the FWT.”
“The officials discussed the required infrastructure and other formalities for the 777-9 parking at the gates.”
It said the tips of the wings are designed to fold on the ground during taxi and parking, as introduced by Boeing,
“The tips extend and lock in place before takeoff and when in the air. Wider wings make the aircraft more efficient, while the folded wingtips allow for unrestricted operations at major airports, where current 777 airplanes operate.” (Colombo/June 20/2025)
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Friday June 20, 2025 5:04 pm
Friday June 20, 2025 5:04 pm
ECONOMYNEXT – Sri Lanka has engaged a head hunting firm to find independent directors for state-owned banks, the Finance Ministry said, following a cabinet decision.
“This initiative aims to strengthen the capacity of the Boards and increase the representation of independent directors, thereby enhancing governance and oversight within these institutions,” the Finance Ministry said in a statement.
KPMG Executive Search has been hired to find the directors.
KPMG has invited applications from eligible and suitably qualified candidates via advertisements published online, in newspapers and social media platforms, including LinkedIn.
A special selection committee has been appointed to oversee and guide the selection process in accordance with established criteria and best practices, the ministry said.
More information on the eligibility criteria could be found at the following links:
https://casrilanka.com/casl/index.php?option=com_jobpostfe&task=view&cid[0]=2760&Itemid=
309&lang=en
https://www.linkedin.com/feed/update/urn:li:activity:7337698242156998656
https://www.linkedin.com/feed/update/urn:li:activity:7337698197181501440
https://jobs.accaglobal.com/job/13308479/independent-director/?LinkSource=PremiumListing
(Colombo/Jun20/2025)
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Friday June 20, 2025 5:00 pm
Friday June 20, 2025 5:00 pm
ECONOMYNEXT – Sri Lanka stocks recovered losses on Friday pushed by banks and diversified conglomerates, brokers said.
The ASPI marginally rose 1.60 percent, or 269.74 points to close at 17,087.95; while the S&P SL20 moved 1.60 percent, or 80.13 points up, to 5,099.28.
The ASPI was pushed up by Ceylinco Holdings, which ended 98.25 rupees stronger at 3,148.25; Sampath Bank, which moved 2.25 rupees to 121.25; Hayleys which ended 4.75 rupees higher at 161.25; Hatton National Bank which rose 5.00 rupees to 320.00; and Commercial Bank, which rose 2.25 rupees to close at 152.00.
Turnover was 2.5 billion rupees in the session, while the share volume was 98,864,903.
Equity markets in the region continued to tumble as uncertainty surrounding the Middle Eastern war continued.
Japan’s Nikkei 225 fell 0.22 percent, or 85.11 points, at 38,403.23 on Friday.
However, Pakistan stocks were trading marginally higher. The KSE 100 index was trading 0.02 percent higher at 120,031.50.
Meanwhile, “Gold headed for a weekly drop as a slight easing of geopolitical tensions in the Middle East sapped haven demand and a Federal Reserve inflation warning raised the prospect of fewer rate cuts,” Bloomberg said.
As at 4.50 pm Sri Lankan time, spot gold was trading at 3,366.78 US dollars, up 9.62 US dollars. (Colombo/Jun20/2025)
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