UK Prime Minister Boris Johnson has appointed Lord Davies of Abersoch CBE as the new Prime Minister’s Trade Envoy for Sri Lanka. Lord Davies will support the UK’s trade and investment promotion objectives through high-level access to Sri Lankan and UK stakeholders, opening doors for UK businesses to catalyse deals that will bring benefits to…
Lanka Premier League (LPL) catches Bollywood attention as film maker, producer, writer and actor, Sohail Khan became the proud owner of the Kandy Tuskers franchisee in the T20 League scheduled to be played from November 21 to December 13, 2020 at Pallekele and Hambantota. Kandy franchisee, which picked West Indies legend Chris Gayle in the…
The Sri Lanka Economic Summit 2020, the premier economic forum, this year too will have a lineup of timely plenary discussions under the theme ‘Roadmap for Take-Off: Driving a People-Centric Economic Revival’. The private sector has often been labelled as the engine of economic growth though this has not been the case consistently due to numerous factors. Industry specialists…
The Cabinet of Ministers has granted approval for the University of Moratuwa and the University of Aalto in Finland to enter into a Memorandum of Understanding (MoU). The resolution was tabled by the Minister of Education G. L. Pieris. This MoU is expected to initiate corporation, facilities, conduct combined researches and other activities between the…
The risk of a second coronavirus wave, together with weak borrower sentiment in an already fragile operating environment, would put further stress on Sri Lankan finance and leasing companies’ (FLCs) credit profiles, adding to existing pressures on asset quality and profitability, Fitch rating agency said yesterday (20). These risks will test FLCs’ loss-absorbing capacity, but…
The India SME Accelerator Network, together with the Board of Investment of Sri Lanka (BOI) and the Federation of Chambers of Commerce and Industry of Sri Lanka (FCCISL), hosted a webinar on ‘Business Opportunities in Sri Lanka’. Held on 8 October, the event was supported by the India-ASEAN Sri Lanka Chamber of Commerce and Industry….
Overall earnings plunge due to bleak economic climate, however, Banks and Food, Staples & Retailing remain robust March quarter earnings dipped by 51.9% year-on-year (YoY) to Rs. 33.6 billion for 266 companies, primarily owing to sluggish performance in Diversified Financials (-87%YoY), Capital Goods (-63%YoY), Food, Beverage & Tobacco (-72%YoY), Telecommunication (-52%YoY) and Consumer Services (-101%YoY),…
Stocks ended Tuesday’s session on a mixed note. Colombo’s main, All Share Price Index fell 11.85 points to close at 5,934.23 and the S&P SL20 index of most liquid stocks gained 4.84 points to end at 2,387.56. The market turnover was Rs. 2.2 billion out of which domestic purchases accounted for Rs.1.87 billion and foreign…
Planned acquisition and merger with Abans Finance sets up company with Rs 32Billion asset base Softlogic Finance PLC received Colombo Stock Exchange (CSE) approval for its Rights Issue of Rs 1.9 billion and the Extraordinary General Meeting of the Company is fixed for 9th November 2020, with the funds expected to be received by the…
The Cabinet of Ministers approved the resolution furnished by the Prime Minister as the Minister of Urban Development and Housing for implementing the following procedure considering the time spent when selecting appropriate investors for the development of lands belong to the Urban Development Authority within the limitations of the prevailing methodology followed. Entrusting the power…
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