Four listed companies; Blue Diamonds Jewellery, Mackwoods Energy PLC, Anilana Hotels and Properties PLC, and Tess Agro PLC, are to be suspended from trading by Colombo stock exchange (CSE). A notice was issued by the CSE, that these trading companies were on the watch list and will be suspended with effect from 24th February 2020 in…
The government of Sri Lanka is considering ways of recovering damages, including claiming compensation from France’s Airbus SE, after the planemaker admitted bribing executives to win Airbus orders. “The reputational damage was huge, enormous,” Vipula Gunatilleka, chief executive of state-run Sri Lankan Airlines, said in an interview at the Singapore Airshow today. “That’s why our…
SL the third slowest growing economy in the South Asian region in 2020 Bangladesh, Nepal, and Bhutan are estimated to grow faster than Sri Lanka in 2020, according to the World Bank, which said that south Asia region growth is expected to recover gradually, assuming a modest rebound in domestic demand driven by monetary stimulus…
Corporate trailblazer, Chairman of Greener Water Limited Dhammika Perera (Fully owned subsidiary of Vallibel One PLC) and Chairman of Summer Season Limited Mohan Pandithage signed two groundbreaking MOUs to establish global luxury brands JW Marriott & Ritz Carlton in Sri Lanka. While Perera signed the MOU with President – Asia Pacific (Excluding Greater China) of…
Renowned tea exporter Rohan Fernando has been appointed as the new chairman of E-Channelling PLC. Fernando replaces P. G. Kumarasinghe Sirisena, who served as Chairman of E-Channelling to 22nd January 2020. Rohan Fernando has over 40 years of experience in the tea industry and has been successful in innovation, promoting and marketing the traditional beverage…
Admiral Zafar Mahmood Abbasi, Chief of Naval Staff of the Pakistan Navy and a delegation of officers visited the Hambantota International Port recently. They were welcomed by CEO of HIPS, Captain Ravi Jayawickreme and briefed on various aspects of the development of the port.
The Central Bank of Sri Lanka has named the year 2020 as the year of digital transactions in Sri Lanka. The main objective of this initiative is to popularize digital payment schemes already introduced to the country by the license commercial banks, other financial institutions and LankaClear (Pvt) Ltd.Awareness is the key to increased use…
Reflecting a strong turnaround delivering an impressive surge in Q3 profits for the year 2019/20, the Singer Group reported consolidated profit after tax of Rs. 341.4 million, compared to Rs.17.4 million in the corresponding quarter of the previous year. The mainstays of this significant improvement was due to growth across key product categories as a…
A revival in economic activity can be anticipated in 2020 with the support of better fiscal and monetary measures, Central Bank Governor Prof W D Lakshman said. “According to available estimates, Domestic economic activities in Sri Lanka has remained subdued in the fourth quarter of 2019, but in 2020, a revival in economic activity is…
HNB Finance Limited, a licensed finance company has obtained approval from the Colombo Stock Exchange to list its voting and non-voting ordinary shares. The ordinary voting shares will be listed by way of an IPO via an Offer for Sale of 10mn shares at a price of Rs. 5.70 per share while the ordinary non-voting…
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