Business tycoon Harry Jayawardena-controlled diversified conglomerate Melstacorp PLC yesterday (20) announced, that it has acquired 100% control of Browns Health Care (Pvt) Ltd from Brown and Company PLC for an estimated Rs. 1.6 billion. Notifying the Colombo Stock Exchange, Melstacorp PLC stated that its fully-owned subsidiary, Melsta Healthcare Colombo Ltd has acquired the entire shareholding of…
SriLankan Airlines, the National Carrier of Sri Lanka and a member of the prestigious oneworld alliance, in the wake of its launch of the brand video ‘Serendipity Next Door’ appealing to its largest foreign market, India, set a record of five million views within 19 hours on social media platforms. This is the first time…
The Monetary Board, with the concurrence of the Hon. Minister of Finance, Economy and Policy Development has appointed Assistant Governor, Mr. K M Mahinda Siriwardana as a Deputy Governor of the Central Bank of Sri Lanka (CBSL) with effect from 12th February 2020. Mr. Siriwardana has a service of more than 28 years in the…
Actions have already been taken to develop the Jaffna International Airport in Palaly and Regional international flights have also begun from Jaffna International Airport. The Government of India has agreed to provide a grant of 300 million Sri Lankan rupees for this purpose. This grant is expected to be used to improve facilities in the…
The government has identified the re – inauguration of the state enterprises that have been closed without carrying out production activities while the Ministry of Industries and Supply Management has decided to re – start all the public enterprises with the potential for restructuring although not in operation by now. Accordingly, plans have been drawn…
By the Economic Intelligence Unit of the Ceylon Chamber of Commerce The outbreak of the Novel Coronavirus (COVID-19) is having its toll on the global economy with many economists now expecting a larger impact than the SARS outbreak in 2002-03. The outbreak is lowering China’s GDP growth expectations in the first quarter to 4.5%, a…
State Trading (General) Corporation of Sri Lanka (STC) had imported Aluminium to the country under the approval of the Ministry of Defence prior to initiation of manufacturing Aluminium powder locally by the private sector in the year 2003. However, with the concession of the law to import Aluminium powder, it has been observed that the…
People’s Leasing & Finance PLC has announced the appointment of Sujeewa Rajapakse, Sudarshan Ahangama, Clive Fonseka, Chanura Wijetillake, and Asoka Bandara to its board with effect from 19th February 2020 and Coralie Pietersz, who will join the board with effect from 1 March 2020. Respectively, Sujeewa Rajapakse will serve in the capacity of Non-Executive Non…
Jetstar Asia will become the only low-cost carrier to fly direct from Singapore to Colombo, Sri Lanka when it launches the new service on 1 July 2020. With fares going on sale today, Colombo becomes Jetstar Asia’s 25th destination from Singapore and the first airline in the Qantas Group to fly to the popular hotspot. The return…
The SriLankan Airbus Deal cleared without the Attorney-General Consultation, the Committee on Public Enterprises (COPE) reveals. The Chairman of the Committee on Public Enterprises (COPE), MP Sunil Handunneththi revealed that the Sri Lankan Airlines Airbus Deal of US $ 2.8 billion has been carried out without the proper consultation of the Attorney-General. This was stated…
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