Colombo Dockyard PLC (CDPLC) is moving towards executing an already signed contract with Misje Eco Bulk AS (Misje) a Norwegian company, to build six (6) firm plus four (4) optional Eco Bulk Carriers. The contracts were signed on 14 March 2020 but is scheduled to come in to effect only in the month of September 2020…
First Capital Holdings PLC (the Group) the only listed investment bank in Sri Lanka, continued its growth momentum into the first quarter of 2020 (Q1 2020) recording a Profit after Tax of LKR 1.46Bn for the quarter ended 30th June 2020, compared to Rs. 581.96Mn in the corresponding period of the previous year. The results…
Softlogic Capital PLC yesterday (17) announced that the board of the directors of the company has resolved on 14 August 2020 to issue Rs.289,027,200 ordinary shares by way of Rights issue to the shareholders of the company in the proportion of 21 new shares for every 50 existing ordinary shares held as the date of…
LONDON (Reuters) – British retailer Marks & Spencer said on Tuesday it plans to cut a further 7,000 jobs, dealing the latest blow to the country’s beleaguered retail sector from the COVID-19 crisis. M&S said last month it would shed 950 jobs as part of a store management revamp. Its latest round of redundancies will…
Expenditure on motor vehicle imports declined considerably by 80.9% while import of home appliances declined led by refrigerators and televisions during the month mainly due to the import restriction measures taken by the government and the Central Bank since March 2020, the Central Bank said in its latest report. According to the CBSL, the declining…
Sri Lanka – Malaysia Business Council’s 26th Annual General Meeting The Sri Lanka – Malaysia Business Council of the Ceylon Chamber of Commerce held its 26th Annual General Meeting on 28th July 2020 at Hilton Colombo Residences. His Excellency Tan Yang Thai the High commissioner for Malaysia in Sri Lanka graced the occasion as the…
Pandemic concessions affect income Net interest income & Net fee and commission reduce by Rs 2.130 billion Impairment charges grow by 67.56% – up by Rs 3.735 billion Capital gains and exchange profits increase by Rs 6.744 billion The Commercial Bank of Ceylon Group has reported mixed results for the first half of 2020, with…
COVID-19 has sparked a worldwide shift in today’s education structure. As countries work hard to mitigate the impact of the pandemic, teachers and EdTech (Education Technology) entrepreneurs across Sri Lanka are bracing themselves for the ‘new normal’ in education. From the good old e-learning courses to digital communication, EdTech has evolved at an unprecedented rate….
Reflecting that manufacturing activities are gradually approaching the pre-COVID levels with the normalization of business activities, the Manufacturing PMI continued to expand in July 2020 recording 64.6 mainly due to the expansion in New Orders and Production sub-indices. The New Orders and Production sub-indices expanded, yet at a slower rate, benefitting from new orders received…
51,135 eligible graduates Details of those who failed to qualify available online President Gotabaya Rajapaksa yesterday (17) reviewed the 150,000 employment program, which will be in effect from 2 September onwards. President advised the relevant authorities to appoint the eligible graduates in accordance with their field of study, the President’s Media Division (PMD) said yesterday….
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