Softlogic’s Pathirage seeks out investors and touts Colombo as new Bangkok COLOMBO/TOKYO — Sri Lankan tycoon Ashok Pathirage remains bullish about his country’s consumer spending prospects, even as it endures a currency sell-off, and he is turning to foreign investors and contractors to build up his retail business. Softlogic Holdings, Pathirage’s hospitals-to-financial services conglomerate, recently…
Reuters – ** The Sri Lankan rupee fell to a record low of 171.80 per dollar on Friday as banks and importers bought the U.S. dollar, while stocks slid to a near five-year closing low in dull trade. ** The rupee dropped to an all-time low of 171.80 per dollar, surpassing its previous low of…
Reuters – Sri Lanka has reversed a decision to award a $300-million housing deal to China in favour of a joint venture with an Indian company, the government said, ahead of a visit by the prime minister to its South Asian neighbour. Prime Minister Ranil Wickremesinghe will meet his counterpart Narendra Modi on Saturday in…
Dialog Axiata PLC, Sri Lanka’s premier connectivity provider, launched Voice over Wi-Fi (VoWiFi or WiFi Calling) service, that will enable users to make calls using a Wi-Fi network. The first to launch the technology in Sri Lanka, Dialog, will enable subscribers with VoWiFi supported handsets to connect to a Wi-Fi network, and make or receive…
Recent Cabinet Decisions the proposal made by Dr. Ranjith Siyambalapitiya, the Minister of Power and Renewable Energy, to award the contract for the construction of 100MW Wind Farm in the Southern coastal strip of the Mannar Island with the financial assistance of the Asian Development Bank, to M/s Vestas Asia Pacific A/S – Denmark and…
Latest Cabinet Decisions outlined that with a view to providing space to persons living in the Crow Island area of Mattakkuliya for their public activities, it has been proposed to construct a Multipurpose building adjacent to the Beach Park constructed therein, with the assistance of the World Bank. As such, the proposal made by Lasantha…
The latest Cabinet decisions noted that it has been planned to bring about a sustainable development in the Northern area by creating entrepreneurs equipped with information technology and generating new employment opportunities and income sources. As such, the proposal made by Malik Samarawickrema, the Minister of Development Strategies and International Trade, to set up a…
Recent Cabinet decisions outlined that the Department of Census and Statistics (DCS) has planned to conduct the next census of population held once in 10 years, in the year 2021. As such, the proposal made by Ranil Wickremasinghe, the Prime Minister in his capacity as the Minister of National Policies and Economic Affairs, to conduct…
Reuters – ** The Sri Lankan rupee ended weaker on Wednesday as banks and importers bought the U.S. dollar while stocks edged lower to end near a five-year closing low. ** The Central Bank on Wednesday said it has secured a 1 billion dollar eight-years loan from China Development Bank. ** The rupee ended at…
Sri Lanka will not allow any sudden hike in domestic LPG gas prices right away-even if the global crude rates continue to gallop. “Your support to the government and Sri Lankans right now is very important. Our priority is to safeguard the consumers” stressed the Minister of Industry and Commerce Rishad Bathiudeen on 18 October…
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