Sri Lanka’s one of the leading agriculture sector focused conglomerate, CIC Holdings PLC, has recently sold company’s stationary business, that operates under the ‘CIAL’ brand, to Packsco, an importer and distributor of pens, JK Copier photocopy paper and Nataraj products to Sri Lanka. In a statement CIC Holdings Managing Director Samantha Ranatunga has said…
Reuters – ** Sri Lankan shares and the rupee closed weaker on Monday, with investors awaiting cues from next week’s budget and the outcome of talks between government authorities and the IMF, market source said. ** The rupee ended at 179.70/80 per dollar, compared with Friday’s close of 179.40/80. ** Finance Minister Mangala Samaraweera will…
Signals the beginning of Phase 2 of The One – Sri Lanka project Will house 256 contemporary hotel rooms, 206 residences and 200,150 sq.ft of banquet space 22nd February 2019 Colombo Sri Lanka: The One Transworks Square officially launched Phase Two of its high end luxury development project with the launch of its second…
The Financial Action Task Force (FATF), the global policy setter on Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT), has made the initial determination that Sri Lanka has completed its action plan and warrants an on-site assessment to verify that the implementation of Sri Lanka’s AML/CFT reforms has begun and is being sustained, and…
Allianz is pleased to announce its consolidated results for the Asia region for the full year ending 31 December, 2018. Full year performance highlights include: Strong full-year earnings growth with total operating profit for the region up 30 per cent to EUR 354 million Total Revenues for the region grew 12 per cent…
SINGAPORE (Reuters) – Oil prices dipped on Monday, dragged down by plentiful supply as U.S. exports soar and compete with traditional producers from the Middle East in key markets such as Asia. But markets were supported by optimism that Washington and Beijing would soon resolve a series of trade disputes that have dented global economic…
Remains No 1 in life insurance for 15th successive year with premium income of Rs 17.8 bn. Assets up Rs 11.96 bn. to Rs 118 bn., investments grow to Rs 103.74 bn. Ceylinco Life has reported total income of Rs 29.21 billion for the year ending 31st December 2018, outperforming industry averages in its…
5G will bring industry opportunities worth $1.2 trillion in Southeast Asia in the next five years, Huawei’s regional president said at the MWC 2019 Media interview in Barcelona on Sunday. “Southeast Asia will stand out with the fastest GDP growth around 5-6% in the next five years, and digital economy will be the major…
Fitch Ratings has affirmed Singer Finance (Lanka) PLC’s (SFL) National Long-Term Rating at ‘BBB(lka)’. The Outlook is Stable. The agency has also affirmed SFL’s senior debentures at ‘BBB(lka)’. KEY RATING DRIVERS NATIONAL RATING The rating of SFL reflects its small franchise and and heightened risk appetite at a time when operating conditions are likely to…
Sri Lanka Telecom PLC (SLT) released its financial performance for the year ending 31st December 2018. The Group comprises of the holding Company and eight subsidiaries including the mobile arm, Mobitel (Pvt) Ltd having a subscriber base of over 9 million. The Group posted a revenue of Rs.81.44 bn during the year under review with…
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