Hemas Holdings PLC’s (AA-(lka)/Stable) acquisition of a controlling stake in Sri Lanka’s leading school and office stationery manufacturer, Atlas Axillia (Private) Limited, will bolster Hemas’ defensive operating cash flows, Fitch Ratings says. We believe the acquisition has no immediate impact on Hemas’ rating because we expect the transaction to be largely funded by cash at…
As Sri Lanka celebrated the 150th anniversary of Ceylon Tea in 2017, Emirates marked its 25 year partnership with Dilmah, the country’s premier tea brand. A collaboration that began in 1992 has resulted in a select range of 10 types of tea being produced exclusively for Emirates passengers on flights worldwide, catering to a wide…
The results of the economic reforms adopted by the government would start to show from 2018 and Sri Lanka could look at a 5% economic growth this year said, Economist, South Asia, Standard Chartered Saurav Anand. Speaking at an interactive media roundtable following the bank’s 2018 year a head briefing and the publication of Our…
Physical work of the proposed light railway project from Kaduwela to Colombo Fort would commence this year said Minister of Megalopolis and Western Development Champika Ranwaka. Speaking at the launch of Construction EXPO 2018 he said that in addition the Arukkal project in Puttalum, the solution to Colombo’s garbage disposal too would begin this year….
Singaporean Prime Minister Lee Hsiang Loong said that his government would take steps to expand economic, trade and investment cooperation between Sri Lanka and Singapore. The Singaporean Prime Minister on a tour to Sri Lanka said this during his meeting with the President Maithripala Sirisena (23) at the Presidential Secretariat. The Prime Minister and the…
Reuters – Sri Lankan shares edged down on Tuesday for a second straight session, their ninth session of losses in ten, but turnover was up on heavy trading by foreign investors. The Colombo Stock index ended 0.05 percent weaker at 6,418.05. Colombo Cold Stores Plc dropped 3.2 percent, while Ceylinco Insurance Company Plc declined 1.1…
A High powered Japanese delegation representing 70 leading Japanese firms and comprising officials of the Japan’s Chamber of Commerce and Industries and the Tokyo Chamber of Commerce and Industries will arrive in Sri Lanka on January 24 to identify investment and business opportunities in Sri Lanka. It is for the first time in 40 years…
Inflation, as measured by the change in the National Consumer Price Index (NCPI) (2013=100), which is compiled by the Department of Census and Statistics (DCS), decreased to 7.3 per cent in December 2017 from 8.4 per cent in November 2017, on year-on-year basis. This decrease is due to the high base prevailed in December 2016….
The Government of Sri Lanka signed a Free Trade Agreement with Singapore at the Presidential Secretariat, today (23). The Free Trade Agreement will boost the trade between the two countries as this would facilitate duty free access to selected goods and services of each other. The signing of the Free Trade Agreement took place following…
Exports continued to record growth momentum for eight of 11 months of 2017 compared to 2016, the Exports Development Board (EDB) says. According to the EDB the earnings from exports increased to USD 10.4 billion, an impressive growth of 10.82% in Jan-Nov 2017, compared to the corresponding period of 2016 as per the latest released…
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