SriLankan Airlines, the National Carrier of Sri Lanka and a member of the oneworld alliance, organized a familiarization tour of Sri Lanka’s historic landmarks associated with the Ramayana Legend. The familiarization tour provided the touring social media influencers and travel writers the opportunity to immerse themselves in an all- encompassing destination experience through the perspective…
Business Sentiment – Index Regains Pre 4/21 Footing In mid-August, the cabinet approved a proposal to present a Vote on Account (VoA) with the aim of allocating government expenditure for the first quarter of 2020. This move is attributed to the belief that it wouldn’t make sense to introduce a fully fledged budget in the…
Land Price Index (LPI) for Colombo district compiled by the Central Bank of Sri Lanka, reached 132.2 during the first half of 2019, recording an increase of 13.6% compared to the first half of 2018. The three sub-indices of LPI, namely Residential, Commercial and Industrial have contributed to this increase. Industrial LPI recorded the highest…
The 18th Annual General Meeting of the Sri Lanka – China Business Council (SLCHBC) of The Ceylon Chamber of Commerce was held recently at Taj Samudra Colombo. Yang Zuoyuan, Commercial Counsellor, Embassy of People’s Republic of China was the Chief Guest. SLCHBC was established on April 26, 2001, and formed under the aegis of the…
Fitch Ratings has affirmed the Long-Term Issuer Default Ratings (IDR) of the following Sri Lanka-based banks: -National Savings Bank (NSB) at ‘B’; Outlook Stable -Bank of Ceylon (BOC) at ‘B’; Outlook Stable Fitch has also affirmed the National Long-Term Ratings of the following banks: – NSB at ‘AA+(lka)’; Outlook Stable – BOC at ‘AA+(lka)’; Outlook…
The Union Bank PLC has engaged itself in discussions with investors to explore strategic investments for its subsidiary, UB Finance Co Ltd (UBF), a licensed finance company. In a stock exchange filling the bank said “it has engaged itself in discussions with identified investor/s to explore options for its subsidiary.” However, the bank wishes to…
(Reuters) – Sri Lanka’s rupee closed weaker on Monday, hovering near a seven-month closing low hit last week, as foreign fund outflows after the central bank’s rate cut weighed on the currency. ** Foreign investors sold net 12.3 billion rupees worth of government securities in the week ended Aug. 28, the second worst weekly outflow…
Makes multi-million dollar investment in Sri Lanka office, hires a new Country Head, and moves key operational functions to its Colombo team. :Different Technologies, one of Australia’s hottest new startups, backed by AirTree Ventures (Australia’s largest VC firm) and Silicon Valley’s Foundation Capital, recently reaffirmed its commitment to Sri Lanka by doubling down on its…
Sinhaputhra Finance PLC has appealed against the move by the Central Bank of Sri Lanka to cancel its license and informed the industry regulator that it is negotiating with a consortium of investors, who has expressed their interest in investing and reviving the company. “A comprehensive capital plan backed by an investor who has demonstrated…
– Amendments aimed at improving public market accessibility for local companies – Offers new avenues for potential issuers to meet eligibility – Proposed changes to IPO process creates flexibility for companies – Improvements to IPO timelines The Colombo Stock Exchange (CSE), in consultation with the Securities and Exchange Commission of Sri Lanka (SEC), is proposing…
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