A delegation from the Association of Belgian Travel Organizers (ABTO) arrived in Sri Lanka on the 27th of October 2019, following the invitation of Minister of Tourism Development, Wildlife & Christian Religious Affairs, John Amaratunga, in support of Sri Lanka Tourism recovery efforts. Upon their arrival they were given a warm welcome amidst a distinguished…
Lanka Realty Investments PLC recently announced a Rights Issue in order to raise up to Rs.3.6 billion. In a stock exchange filling on Friday (1), the company noted that the Board of Directors , by a resolution passed on 1 November 2019 resolved to recommend to the shareholders to issue 96,740.648 of ordinary shares by…
Reuters – Sri Lankan shares ended weaker on Monday, slipping from their highest in 10 months hit in the previous session, as investors sold diversified shares two weeks ahead of presidential polls. ** Sajith Premadasa, the housing minister and one of the two presidential front-runners, last week announced his election manifesto, which is seen by…
Hayleys Group’s subsidiary Dipped Products PLC (DPL), a leader in the global hand protection glove market, reported Rs. 15.3 billion Group turnover for the six months ending September 2019. The Hand Protection sector contributed Rs 8.6 billion to the Group’s top line. The Dipped Products Group recorded a profit before tax (PBT) of Rs. 450 million for…
Central Bank Governor Dr. Indrajit Coomaraswamy said that the incoming president and government will be faced with the prospect of needing to borrow up to US$3 billion from international markets in order to service its debt obligations. Dr. Coomaraswamy noted that the country has to face severe austerity if mismanagement of the economy results in…
The abbreviation ‘USJ’ (University of Sri Jayewardenepura) was approved by the senate of the University of Sri Jayewardenepura as an abbreviation that will unify the diverse ways in which the University of Sri Jayewardenepura (USJ) has been presented and referred to in Research, web articles, official documents etc. The University of Sri Jayewardenepura has a long and…
‘Jetwing Kandy Gallery’, the newest Jetwing property, will be expecting its first guest on the 14th of January next year, Jetwing Symphony PLC, Chairman, Hiran Cooray said. Jetwing Symphony PLC’s latest project ‘Jetwing Kandy Gallery’ is a 26-room hotel in the historic city of Kandy. “The progress at Jetwing Kandy Gallery is on schedule, and…
Sri Lanka’s Finance Ministry has taken measures to purchase 12,000 Metric Tons (MT) of Liquefied Petroleum Gas (LPG) as a remedy for the LP gas shortage currently in the market. A ship with 3,600 MT of LPG reached Colombo on Saturday (02), and another vessel with 3,600 MT will reach Colombo on Tuesday, the Finance…
Airport and Aviation Services (Sri Lanka) Limited (AASL) recently installed an upgraded Flight Data Processing System (FDPS), in order to control air traffic over most of the central Indian Ocean area. Airport and Aviation Services (Sri Lanka) Limited (AASL) has been delegated with the responsibility of providing Air Navigation Services within the Sri Lanka air space. Accordingly, the…
Core Banking Growth and Profitability Union Bank continued to focus on portfolio alignment and prudent cost management to sustain against a hardhitting macro economic environment that continued to weigh down the banking sector during the third quarter of 2019. As a result of focused efforts for enhancing operational efficiency, the Operating Expenses of the Bank…
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