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….
The National Body for Marketing in Sri Lanka (SLIM) together with the Sri Lanka Inventors Commission (SLIC) launched the ‘Made in Sri Lanka’ platform to bring about recognition to Sri Lankan inventors, which was launched recently at Gangarama. “Made in Sri Lanka” is an initiative aimed to assist and encourage inventors to come forward to…
Expressway to development along the Belt and Road The Belt and Road Initiative (BRI) is the transnational development drive initiated by the Peoples Republic of China. It is also known as the 21st century Silk Road. Ancient Silk Road connected China with the Persian empire and Europe through Central Asia over land. Maritime Silk Road…
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