With zero customs duty on exports to India and Europe from Sri Lanka, Hero Cycles is planning to increase its stake in its Colombo-based bicycle unit this quarter. Hero cycles — world’s largest bicycle manufacturer — had purchased 60 per cent stake in BSH Ventures in April 2016. Hero Cycles chairman and managing director Pankaj…
London Stock Exchange Group (LSEG) today announces the opening of a new office, ‘Trading House,’ in Colombo, Sri Lanka. The new facility will employ personnel to provide shared services, including technology, data services, and corporate support functions. Through the development of strategic operational hubs, LSEG is well placed to deliver services across the Group’s global…
Diversified Sri Lankan conglomerate Sunshine Holdings PLC reported strong growth in turnover and profitability during the year ended 31st March 2018, with the group’s consumer and agribusiness, sectors leading growth while its sizeable Healthcare segment remained the major contributor to total group revenues. During the year in review, the group’s top line expanded by 12.4%…
Sri Lanka’s Ports Authority (SLPA), on Tuesday said the Colombo Port received 1.7 million twenty foot equivalent units (TEUs) in the first quarter of 2018, which is a 16.2 percent growth from a year earlier, making it one of the fastest growing ports globally. Colombo Port’s transshipment volumes grew 20.9 percent to 1.32 million TEUs,…
Investment flows from the Scandinavian region to the Sri Lankan stock market have made a noteworthy improvement in recent years, where inward investments have grown by 39% per annum (CAGR) since 2013. Rs. 2.4 billion in foreign purchases recorded from Sweden so far in 2018 marks a new high for investment flows into the stock…
Panasian Power PLC (PAP.N), one of Sri Lanka’s leading green energy solutions providers, posted a profit before tax of Rs. 207.5 million for the year ending 31st March 2018. The company generated Rs. 489 million in revenue for the year against Rs. 205 million the previous year. This was compounded by a healthy gearing for…
Reuters – Sri Lankan shares marked their lowest close in two weeks on Monday with investors mostly keeping to the sidelines awaiting cues about the real impact of the floods that hit the island-nation over the past week. A weaker rupee, political uncertainty and the recent fuel price hike also weighed on sentiment, brokers said….
Sri Lanka had earned over US $ 478 million from Tea Exports from January to April 2018, which is only second to the 2014 record of US $ 508.7 million, a latest Tea Market report by Asia Siyaka Commodities PLC points out. Accordingly this marks the highest earning in quarter during the last 4 years…
Communications devices are prohibited within the Player and Match Officials Area (PMOA) Regulations The International Cricket Council (ICC) confirmed that under the Player and Match Officials Area (PMOA) Regulations, smart watches are not permitted to be worn on the field and in areas designated as PMOA. Communications devices are prohibited within the PMOA and no…
Nawaloka Air Services, a fully-owned subsidiary of the Nawaloka Holdings recently tied up with one of the most prestigious universities in South Korea to provide exceptional aviation related study programmes to Sri Lankan students. Hanseo University is a private university which was established in 1991. The aviation school was added a decade later in 2001,…
Video Story
