Winners to get $4 million, Runners-up to get $ 2 million, incentives for winning each of the 45 league matches The upcoming ICC Men’s Cricket World Cup 2019 will see the winners of the 10-team tournament earn a purse of $ 4 million, the highest prize money to date, along with the trophy that they…
Representing Minority shareholders of CSE, K.C. Vignarajah urge SEC and Central Bank to protect their interests Sri Lanka’s one of the key minority shareholder of several listed companies who had been continuously representing monitory shareholders’ interests of Sri Lanka’s stock market traders, and a leading good governance advocate, and former Chairman of Ceylon National…
Also gets US $ 427,500 worth 5 oil tankers Sri Lanka’s Railways Department (SLRD) had received 10 container carrier wagons at the Colombo Harbour under an Indian loan scheme, The Transport Ministry said on Thursday (16th May). Accordingly SLRD received 10 container carrier wagons for the first time in 30 years, whilst it had also…
Reuters – Sri Lankan shares rose on Thursday, snapping their 10-session losing streak to recover from its lowest close in nearly seven years as investors bought beaten down shares. ** The rupee edged higher for the second session after four straight days of losses, but traders said sectarian violence was still denting investor sentiment. Most…
ZURICH/FRANKFURT (Reuters) – Nestle has entered exclusive talks to sell its skin health business to a consortium led by EQT Partners for 10.2 billion Swiss francs ($10.12 billion), as the food group shifts its portfolio in response to changing consumer demands. The proposed transaction with private equity firm EQT, a unit of the Abu Dhabi…
The Singer Group reported revenue amounting to Rs 58.5 billion for the twelve-month period 2018/19, compared to Rs. 53.1 billion for same period in the prior year with a growth of 10% whilst compared to Rs 65.1 billion revenue during the fifteen month period of 2017/2018 as appears in the published Financial Statements. For the…
Group pre-tax profit up 32% to Rs 1,643 million; Strong gains from performance enhancing initiatives in local operations in the face of stiff market conditions and robust contributions from overseas marketing operations have generated noteworthy profit growth in 2018-19 for Dipped Products Group, a global leader in Hand Protection. The Group achieved a profit before…
Posts 12-month net profit of Rs 1.86 billion on sales of Rs 31.7 billion Sri Lanka’s multinational textile manufacturer Teejay Lanka PLC has ended FY 2018-19 on an impressive note, with consistent sales and profit gains of the preceding months bolstered by robust growth in the final quarter, the Group’s sixth consecutive quarter of…
Fitch Ratings has affirmed Sri Lanka-based conglomerate Hemas Holdings PLC’s (Hemas) National Long-Term Rating at ‘AA-(lka)’ with a Stable Outlook. The affirmation of Hemas’ rating reflects the company’s improved business risk profile after the successful integration of Atlas Axillia (Private) Limited (Atlas), a leading school and office stationery manufacturer, which it acquired in early 2018….
The United Nations World Tourism Organisation (UNWTO) Secretary General Zurab Pololikashvili has called on the global community to offer its unwavering support to Sri Lanka through Tourism at this critical moment noting that hotels, beaches and other sites of interests are open as usual, a statement published in a video message published at Sri Lanka…
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