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The Sri Lankan economic crisis [8] is an ongoing crisis in Sri Lanka that started in 2019. [9] It is the country's worst economic crisis since its independence in 1948. [9] It has led to unprecedented levels of inflation, near-depletion of foreign exchange reserves, shortages of medical supplies, and an increase in prices of basic commodities. [10]
Sri Lanka's prime minister has warned of a food shortage as the island nation battles a devastating economic crisis and vowed the government will buy enough fertiliser for the next planting season ...
Services accounted for 58.2% of Sri Lanka's economy in 2019 up from 54.6% in 2010, industry 27.4% up from 26.4% a decade earlier and agriculture 7.4%. [41] Though there is a competitive export agricultural sector, technological advances have been slow to enter the protected domestic sector. [42]
Cargills PLC is a Sri Lankan consumer company which is listed on the Colombo Stock Exchange. It is a market leader in the Modern Retail (supermarkets), FMCG, and Restaurants industries and also has a presence in the Banking, Real Estate, and Cinema sectors. The controlling interest in the company is held by C T Holdings PLC. [2]
In 2022, as protests began growing in Sri Lanka, Jaliya Wickramasuriya, former Sri Lankan ambassador to the United States and Mexico, and a cousin of the Rajapaksa brothers, pleaded guilty in U.S. District Court for defrauding $332,027 from the Sri Lankan government during the purchase of a new embassy building in 2013.
Keells Krest brand is one the 100 most valuable brands in Sri Lanka. The brand value of Keells Krest is estimated to be worth LKR1,127 million in 2022, a 12.6% growth from the previous year. [7] Keells Food Product is ranked 15th in LMD 100 second board in its 2020/21 edition. LMD 100 ranks publicly quoted companies of Sri Lanka by revenue ...
In 2017, Ceylon Biscuits Limited in Sri Lanka acquired a license to operate the Spar brand in Sri Lanka as Spar Lanka. This is a joint venture of Ceylon Biscuits Limited and SPAR South Africa. [32] They opened the first store in Thalawathugoda, Colombo. The plan is to open 50 outlets in the country by 2023. [33]
Keells is a Sri Lankan supermarket chain operated by Jaykay Marketing Services (Pvt) Ltd., a subsidiary of the John Keells Group. [1] Established in 1991, [1] [2] Keells has grown to operate 135 outlets across the country, positioning itself as one of the leading retail chains in Sri Lanka alongside other retailers such as Cargills, Glomark, Spar, and Arpico.