Sri Lankan Billionaire Nahil Wijesuriya’s family controlled East West Properties owned Weligama Hotel Properties Limited (WHPL) is being sold to Singapore’s Hotel Properties Limited (HPL) founded by Singaporean billionaire businessman Dato’ Ong Beng Seng for US $ 22.62 million according to an earlier announcement, and today’s (7th May 2019) Colombo Stock Exchange (CSE) market opened with…
Business Sentiment – Index Falls To a Decade-Plus Low The sad truth is that Sri Lanka Inc. will suffer as much as the people, following the deadly Easter Sunday explosions in the commercial capital and elsewhere that rocked a nation basking in the glory of nearly 10 years of peace on the ground – and…
SriLankan Airlines, the National Carrier of Sri Lanka and a member of the prestigious oneworld alliance, has appointed Mr. Joshua Bustos as its Chief Commercial Officer and Mr. Shaminda Samaraweera as its Chief Financial Officer with effect from April this year. Mr. Bustos is an internationally experienced senior level airline executive with over 20 years…
Reuters – The Sri Lankan rupee fell for an eighth straight session on Monday to a near six-week low on dollar demand from banks, a day after clashes between two sectarian groups dented sentiment. ** Stocks dropped to their lowest close in about five-and-a-half years. ** Sri Lanka police arrested two men after a personal…
Seven new foreign Ambassadors and High Commissioners accredited to Sri Lanka presented their credentials to President Maithripala Sirisena at the President’s House in Colombo today (May 6). The Envoys who presented credentials are: Mr Ashraf Farhad Shikhaliyev – Ambassador of Republic of Azerbaijan Mr Daniel Chuburu – Ambassador of Argentine Republic Mr David John Holly…
OSLO/KUALA LUMPUR (Reuters) – Norway’s Telenor and Malaysia’s Axiata Group are in talks to form a jointly-owned Asian telecoms company with close to 300 million customers, in a push to cut costs and boost growth, the companies said on Monday. If a deal is finalised, the merged business combining the two companies’ South Asian and…
Latest Cabinet decisions outlined that according to a budget proposal it has been proposed to implement a project for the provision of computer facilities in schools with a view to developing the learning and teaching process in the school educational system. Thus the proposal made by Akila Viraj Kariyawasam, the Minister of Education, to secure…
Recent Cabinet proposals outlined that It was decided by the Cabinet to establish a Committee under the Chairmanship of the Minister of Tourism Development, Wildlife and Christian Religious Affairs comprising of a further five relevant Ministers, to make a study of the measures to be taken to overcome the situation faced by the tourist industry…
Sri Lanka’s LMD-Nielsen Business Confidence Index (BCI) had declined for the second consecutive month, registering 77 basis points in April compared to 90 in March, and the BCI is now at its lowest level in over a decade. Further LMD notes that since the monthly survey was conducted in the first week of April, it…
The latest Cabinet decisions highlighted that under the National Minimum Wage of Workers Act, No.3 of 2016, the minimum monthly wage of the workers of the private sector has been fixed as Rs.10,000/- and the daily wage as Rs.400/- to be effective from the 01st of January 2016. Further The National Labour Advisory Council has…
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