Lead Story

CSE’s ASPI surpasses 8,000 points for the first time history

The main index of the Colombo Stock Exchange, the All Share Price Index (ASPI) crossed the 8,000 point mark for the first in history today (21) , breaking all the previous records. The ASPI gained 246.80 points (or 3.13%) closing the day on 8,131.25. Meanwhile, The S&P SL20 index, which includes the 20 largest and most liquid stocks also increased by 100.38 points (3.24%) to…

(0) Comments | January 21, 2021 4:10 pm

Featured

George Steuart & Co Commences Restoration of Centuries Old Artifacts

George Steuart & Co., Sri Lanka’s oldest mercantile establishment, has commenced an exciting project to restore a repository of artifacts that trace back to its founding in 1835 and its early operations. The recently uncovered artifacts include diaries and journals belonging to the founders, ledgers, profit and loss accounts, company seals, employment records and many…

(0) Comments | January 21, 2021 2:11 pm

Fully subscribed Rights Issue of Prime Finance bolsters its core capital

Prime Finance PLC, a member of the Prime Group, announced that it raised capital of Rs. 526.68 million following the successful conclusion of its fully subscribed Rights Issue in December 2020. Prime Finance PLC is a Licensed Finance Company by the Monetary Board of Central Bank of Sri Lanka (CBSL) which provides personal and business…

(0) Comments | January 20, 2021 6:02 pm

MillenniumIT ESP Continues its Silver Jubilee Celebrations at Hybrid Town Hall Event

The company completed its silver jubilee milestone on January 3, 2021 – a proud celebratory accomplishment for local IT solutions leader Festivities in lieu of 25th anniversary celebrations were held according to the new norms of the ‘New Normal’ MillenniumIT ESP – one of Sri Lanka’s leading Systems Integrator and Information Systems providers – completed…

(0) Comments | January 20, 2021 5:59 pm

‘PinTheBiz’ from Softlogic Life – to promote Sri Lanka’s struggling small businesses

Using an innovative approach to support small businesses around the country, Sri Lanka’s fastest growing life insurance provider Softlogic Life, has launched a disruptive thought-provoking campaign, ‘Pinthebiz’. The campaign encapsulates Softlogic Life’s deep commitment to enhance the wellbeing and quality of life of all Sri Lankans by embracing and utilizing technology to innovate disruptive solutions….

(0) Comments | January 20, 2021 3:52 pm

Iconic Galaxy – Heading towards timely completion despite many roadblocks

Leading Indian infrastructure developer Iconic Developments is making headway towards timely completion of the construction of its luxury apartment complex Iconic Galaxy, located in Rajagiriya, and aims to hand over the apartment keys to the first customer by November this year. “The progress we’ve made is tremendous, and the pace we maintained throughout all the…

(0) Comments | January 20, 2021 3:50 pm

Emirates becomes one of the first airlines in the world to trial IATA Travel Pass, a digital platform for COVID-19 updates and test verification

Emirates has partnered with the International Air Transport Association (IATA) to become one of the first airlines in the world to trial IATA Travel Pass – a mobile app to help passengers easily and securely manage their travel in line with any government requirements for COVID-19 testing or vaccine information. IATA Travel Pass enables Emirates…

(0) Comments | January 20, 2021 3:26 pm

Samsung Galaxy S21 Series: The Ultimate Smartphone Experience, Designed to be Epic in Every Way

Available to Pre Order Now Samsung, Sri Lanka’s No.1 Smartphone brand opens for pre-order of the Galaxy S21 Series starting 21 January 2021. The Galaxy S21 Ultra delivers Samsung’s most advanced and intelligent pro-grade camera system, brightest and smartest display in a Galaxy and best Galaxy performance in a smartphone yet. The Galaxy S21+ and…

(0) Comments | January 20, 2021 2:26 pm

Seylan Bank’s Islamic Banking Wins Gold at SLIBFI Awards 2019 and Bronze at IFSSA Awards 2020 for Islamic Finance Deal of the Year

Seylan Bank PLC’s Islamic Banking Unit has placed Sri Lanka prominently in the world of Islamic Finance, securing the joint Gold Award for Deal of the Year 2019 at the recently concluded Sri Lanka Islamic Banking and Finance Industry (SLIBFI) Awards 2019 and Bronze for the same deal at the regional Islamic Finance Forum of…

(0) Comments | January 20, 2021 2:00 pm

4 must-have cybersecurity skills for youth to combat cyber threats

By Sunil Sharma The year 2020 has seen an unprecedented increase in cyberattacks all around the world, highlighting the crucial need to increase cybersecurity awareness among both businesses and people. While IT security has become a vital aspect of an enterprise framework, businesses are today facing a lack of skilled cybersecurity professionals in India. According…

(0) Comments | January 20, 2021 12:03 pm

The Flemington Lays Foundation Stone for Third Apartment Project

Following the success of The Flemington’s first and second condominium development projects at Rajagiriya and 1O3 Campbell, the dynamic property developer recently hosted the ground breaking ceremony and commenced construction of its third condominium complex at 20 Vajira Road, Colombo 4. The ceremony was headed by Mr. Shamitha Ganegoda, Managing Director of EliSh Development (Pvt)…

(0) Comments | January 20, 2021 12:00 pm

Top News

Hayleys Group announces massive share sub division

The Hayleys Group of Companies has decided to increase the number of shares by way of a sub division . Accordingly, the existing shares of each company will be subjected to the following sub divisions. HAYLEYS PLC – 1:10 DIPPED PRODUCTS PLC – 1:10 ALUMEX PLC – 1:2 REGNIS (LANKA) PLC – 1:2 SINGER (SRI LANKA) PLC –…

(0) Comments | January 21, 2021 4:09 pm

CPC saves USD 300 million in foreign exchange in 2020

Ceylon Petroleum Corporation (CPC) has saved USD 300 million in foreign exchange for the year 2020, CPC Chairman Sumith Wijesinghe told the Parliament Committee on Public Enterprisers (COPE) recently. He stated that the government was able to take advantage of this due to the fall in the price of a barrel of crude oil last year…

(0) Comments | January 21, 2021 9:00 am

Stock market recovers. ASPI up by 75.48 points

Colombo bourse closed on a positive note on Wednesday (20), with the benchmark All share Price Index (ASPI) recovering from a nosedive yesterday. The ASPI surged 75.48 points (or 0.97%) to close at 7,884.45 while the S&P SL20 index, which includes the 20 largest and most liquid stocks increased by 37.32 points ( or 1.22%) to close 3,096.35….

(0) Comments | January 20, 2021 5:35 pm

2020 marks a successful year for Sri Lanka exports: EDB

The US$ 13.5 billion export target set for merchandise export sectors in early 2020 remains challenging, requiring not only strong efforts from local enterprises, but also the recovery of global demand amid complicated Covid-19 situation. Amid severe impacts of the Covid-19 pandemic, Sri Lanka’s merchandise exports remain at US$ 9.9 billion in 2020, which is…

(0) Comments | January 20, 2021 3:14 pm

Selling rate of US $ exceeds Rs.198 mark

According to the daily exchange report of the Central Bank of Sri Lanka (CBSL), the current buying rate of the US Dollar today (20) stands at Rs.192.85 and selling rate of the US dollar stands at Rs.198.26. Meanwhile, commenting on the continuous depreciation of the rupee against the dollar, the Deputy Governor of the Central Bank of…

(0) Comments | January 20, 2021 1:18 pm

IMF chief sees ‘high degree of uncertainty’ in global outlook

(Reuters) – The head of the International Monetary Fund on Monday said the global lender needed more resources to help heavily indebted countries, citing a highly uncertain global economic outlook and a growing divergence between rich and poor countries. IMF Managing Director Kristalina Georgieva, who has long advocated a new allocation of the IMF’s own currency, Special…

(0) Comments | January 20, 2021 12:11 pm

CB to introduce priority sector lending targets for MSMEs

The Central Bank will be introducing priority sector lending targets for the micro, small and medium scale enterprises (MSMEs) to support a broad based economic revival, in consultation with the banking community, Chandranath Amarasekara, Director of Economic Research at the Central Bank said yesterday (19). ” Priority sector lending targets for micro, small and medium scale enterprises…

(0) Comments | January 20, 2021 10:00 am

SIERRA CABLES PLC’s credit rating upgraded to AA- (stable outlook) by Fitch rating and continues superior financial performance into the third quarter

Following the recalibration of the Sri Lankan National rating scale by Fitch Ratings, the most transparent credit rating agency, Sierra Cables PLC has had its rating revised upward to AA-(lka): Outlook stable from the previous BB (lka): Outlook negative. The company realized a profit of Rs.217 million for the 9 months ended 2020, a 36%…

(0) Comments | January 20, 2021 9:16 am
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Analysis

All clear for a stronger GDP growth trajectory in 2021 – Asia Securities Research

Low rates and higher market liquidity to support growth Factor in ~1.5 bn in FDIs in 2021; driven by greater focus on public-private partnerships, manufacturing sector, and investments into Colombo International Financial City Leading stockbroking firm Asia Securities (Pvt) Ltd., maintained that all signs point to a strong GDP growth trajectory in 2021. The latest…

(0) Comments | January 7, 2021 11:45 am

Tea industry’s performance in 2020 and prospects for 2021

By Forbes and Walker Tea Brokers Overview 2020 will no doubt go down in history as one of the most challenging years with the Covid-19 pandemic changing the world in many ways. The Sri Lankan tea industry was no exception as its world-famous outcry system of auctioning tea having a 137-year-old history was changed to…

(0) Comments | January 7, 2021 10:11 am

Business Sentiment – Index ends year on a low note

Business sentiment continues its downward trajectory as the year draws to a close Following a gruelling nine months for business in general and tourism in particular, the authorities finally announced that Sri Lanka would resume selected international flights beginning from 26 December with a blueprint also being drawn up to revive the hard hit tourism…

(0) Comments | January 4, 2021 10:24 am
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