Reuters – Sri Lankan shares snapped two consecutive sessions of falls on Tuesday in high turnover, led by Hatton Plantations Plc, while the rupee closed slightly weaker. ** Traders said the Easter day bombings and aftermath violence, and worries over slowing economic growth weighed on investor sentiment. Most investors have shied away from the market…
Sri Lankan apparel manufacturer, Hela Clothing Group, announced it has completed the balance raise of $3.6 million from its Series A funding round bringing the total equity raised to $10 million, following an advisory board visit in Sri Lanka by all major shareholders from Sri Lanka, UK and Australia. This comes on the back of…
The 54th Annual Meeting of the Board of Governors of the Asian Development Bank is to be held in Colombo, in May 2021. The Annual Meeting of the ADB Board of Governors is an opportunities for member governments to interact with ADB staff, nongovernment organizations (NGOs), and representatives of observer countries, international organizations, and the…
Maga Engineering, Sri Lanka’s leading construction company, completed Rs. 6 billion worth of work in the water sector in the year 2018, delivering few projects of national importance in the process. Underscoring the significance on achieving United Nation’s Sustainable Development Goal to access affordable drinking water for all citizens, Government of Sri Lanka has given…
Sri Lanka’s Government has opened an international bidding round to explore and produce oil and natural gas in two blocks in the Mannar and Cauvery Basins, the Petroleum Resource Development Secretariat (PRDS) said in a document released to public. PRDS in the document said that the bids for the Mannar Basin’s M1 block and the…
President Maithripala Sirisena met with few members of the diplomatic community on their request to discuss about the progress of the operations carried out by the security forces to strengthen security situation. The President said that the situation is 99% secure now. He thanked the international community for the cooperation and assistance provided to Sri…
Whilst the horrific events of Easter Sunday and the on-going challenging security situation in the country remains a major concern for all, Sri Lanka’s Hussein Esufally and brothers owned and controlled (over 380.4 million voting shares or over 64% of issued voting capital) Hemas Holdings PLC, the company Chief Executive Steven Enderby says that In…
Reuters – Sri Lankan shares fell for the second straight session on Monday in thin trading volume amid worries over economic slowdown and lack of investor appetite for risky assets. ** Traders said the Easter day bombings and aftermath violence weighed on investor sentiment. Most investors have shied away from the market since the April…
Hong Kong (CNN Business) – Ren Zhengfei, the CEO and founder of embattled Chinese tech company Huawei, is defending US rival Apple. Asked in an interview with Bloomberg about calls in China to boycott Apple (AAPL), Ren said he would be opposed to any such retaliatory action from Beijing even as tensions with the United…
The Sri Lanka Ports Authority (SLPA) observes recent reports in the press about the envisaged Memorandum of Cooperation (MoC) between the three governments of Sri Lanka, Japan and India on the East Container Terminal of the Port of Colombo and makes the following release to both clarify and inform interested stakeholders. Firstly, the Authority believes…
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