Asia’s cash discounts for jet fuel widened on Tuesday, to their biggest discounts in two months, as ongoing border and travel restrictions due to the COVID-19 pandemic continued to impair aviation demand. Cash discounts for jet fuel JET-SIN-DIF were at a 81 cents a barrel to Singapore quotes on Tuesday, the widest since June 23….
According to J. B. Securities monthly review, vehicle registrations in July were slightly down from June but remain at healthy levels indicative of existing inventory driving sales. “It is likely that this momentum slows in August due to stockouts in certain categories,” J. B. Securities stated in its latest review. Motor car registrations recorded 1,712…
The Ceylon Chamber of Commerce with a view to support companies to promote exports from Sri Lanka, entered into a partnership agreement to integrate an “Online Market Place”, developed by Epic Lanka Technologies (Pvt) Ltd. The platform will be integrated to Chamber’s e-commerce portal https://bizinfosrilanka.lk During the signing ceremony held on 7th August, Mr. Manjula…
Sunshine Holdings PLC’s (A(lka)/Stable) 100 percent acquisition of Sri Lanka-based confectionery maker Daintee Limited will increase the cash flow of the group’s fast-moving consumer goods (FMCG) segment, which is defensive in nature, as the lower-priced goods are considered essential, Fitch Ratings said. “We believe the largely debt-funded acquisition will have no immediate impact on Sunshine’s…
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…
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