Consequent to the announcement made by the Government that the curfew will be effective only between 10.00 pm to 4.00 am daily in all districts with effect from 26th May 2020 and the requests made by industry stakeholders to extend trading hours, the CSE has decided to extend the trading hours from Tuesday 26th May…
A 26-member National 5G Committee has been formed with Thailand Prime Minister Prayut Chan-o-cha as chairman to coordinate the 5G development and boost the digital economy in the country. The committee is also tasked with mitigating obstacles regarding the recall of unused spectrum, from state agencies for the National Broadcasting and Telecommunications Commission (NBTC), in…
TBG Diagnostics Limited (TDL), a global molecular diagnostics company, headed by Sri Lankan entrepreneur Jitto Arulampalam, announced that its subsidiary, TBG Biotechnology Corp, has received CE Mark approval for its COVID-19 Nucleic Acid and Antibody Rapid test kits. The CE Mark approval covers TDL’s ExProbeTM SARS-CoV-2 (ExProbe test kit) Testing Kit and its SARS-CoV-2 IgG/IgM Rapid…
The Finance Company PLC (TFC), is a Finance Company, carried its finance business activities under the Finance Business Act No. 42 of 2011 (FBA) and was severely impacted by the failure of a number of financial institutions within the Ceylinco Group in 2008. Since then, the financial status of the company deteriorated gradually, leading to…
The Hotels Association of Sri Lanka (THASL) seeks support from the government to meet the working capital needs of tourism businesses, to fund the employees’ salaries and maintain the hotel properties for at least the next six months, amid revenue levels reaching zero. “The tourism industry is going through a very challenging time. There is…
ICRA Lanka Limited, subsidiary of ICRA Limited, a group company of Moody’s Investors Service, has reaffirmed the issuer rating of [SL]A (pronounced as S L A) for LOLC Holdings PLC (“LOLC”/”the Company”), while revising the outlook to Stable from rating watch with developing implications. ICRA Lanka has also reaffirmed the issue rating of [SL]A (pronounced…
John Keells’ Consumer Foods, Retail and property industry groups grow profits Sri Lanka’s John Keells Group’s revenue increased by 3% to Rs. 140.04 billion while recurring Group earnings before interest expense, tax, depreciation and amortisation (EBITDA) decreased by 14% to Rs.22.06 billion, for the financial year 2019/20. Company’s Chairman, Krishan Balendra said in his review, “The…
Coats Digital, Res.Q and Serai Limited by HSBC announce a strategic collaboration that will help re-shape the future of the apparel industry. Combining its unique strengths, the partnership will provide the apparel industry with access to a range of inter-connected digital solutions over Serai’s digital platform. These solutions will not only provide real-time data and…
Headline inflation as measured by the yearon- year (Y-o-Y) change in the National Consumer Price Index (NCPI, 2013=100) decreased to 5.9 per cent in April 2020 from 7.0 per cent in March 2020. This was driven by the monthly decline of prices of the items in the Food category and the statistical effect of the…
The S&P SL20 Index of the Colombo Stock Exchange (CSE) gained 6.28% during trading today (21), bettering the record for the highest ever daily percentage gain of the index which stood at 5.25%, which was set on 18th May 2020. This development marks the second occasion the S&P SL20 Index has made historic gains during…
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