Business and Economics
Cargills Bank expands to Nawalapitiya, focus on Agriculture, SMEs

Cargills Bank opened its full-service branch in Nawalapitiya, located at Gampola Road, Nawalapitiya.

The branch is the 21st branch in the Cargills Bank network and provides customers with access to a full gamut of banking and financial services.

Striving to be Sri Lanka’s most inclusive bank with a focus on supporting the development of the Agriculture sector and SMEs, Nawalapitiya was identified as an ideal location for the latest addition to the Cargills Bank network.

The town serves as an economic and social hub in the area and is home to a healthy, active and progressive community of small and medium sized enterprises and entrepreneurs from various sectors including agriculture, manufacturing and services.
Fonterra distributes value bundle to boost farmers’ productivity

Fonterra Brands Lanka has actioned a programme to provide free access to 3 critical inputs – quality fodder, specially-formulated Minerals Mix packs and mechanised equipment to its smallholder dairy farmers in a drive to elevate on-farm productivity and yield.

Smallholder farmers who contribute 90% to the Sri Lankan milk supply experience challenges around access to right quality feed and on-farm efficiencies. The ‘value bundle’ distribution drive is meant to encourage use of the right quality feed to nourish dairy cattle and dairy equipment to assist milking and fodder harvesting, driving safety, efficiency and productivity.

Managing Director of Fonterra Brands Lanka and Indian Subcontinent, Ms.

Read More
Driving Growth-Bridging Deficits – Outlook 2021 Report of the Ceylon Chamber Released

The Ceylon Chamber of Commerce launched its annual Outlook Report for 2021, at the Economy + Sector Review and Outlook 2021 webinar on 3rd of February.

The Outlook 2021 report published by the Economic Intelligence Unit (EIU) of the Ceylon Chamber of Commerce (CCC) explores the macroeconomic and sector outlook for the year ahead. The theme for the report is Driving Growth- Bridging Deficits. The sectors covered include Apparel, Tourism, FMCG, Consumer Durables, Construction, Agriculture, Plantations, Fisheries, Dairy, Pharmaceutical, IT/BPM, Electronics and Electrical Sectors and Logistics. The sector coverage is compiled after interviews with sector experts and analysis of sector data. The report provides a review of the performance of the global and local economy and the above mentioned sectors and perspectives on the outlook ahead.

Presenting the Outlook 2021, Chamber Chief Economist Mr. Shiran Fernando highlighted that Sri Lanka will stage a recovery in growth in 2021 driven key industrial sector, improvement in domestic consumption and resurgence in the service sector. The low interest rate environment would be a key feature in the first half of 2021. It was also identified that some of the macro trends will be a key driver in the sector performances as well.

Prior to the presentation and launch of the Outlook report, Ms. Aayushi Chaudhary Economist, India and Sri Lanka HSBC Securities and Capital Markets India presented on the global and regional economic performance.

Read More