Sri Lanka’s Cabinet of ministers has approved government borrowing of US $ 1.5 billion through raising funds via an International Sovereign Bond (ISB), and the requirement to issue the International Sovereign Bond was proposed by Finance Minister Mangala Samaraweera, a statement said. The statement further added that the decision to issue the ISB takes…
Colombo’s landmark, skyline-transforming development project Cinnamon Life marked a key milestone in its construction this week, with the topping-off of all its towers as well as the luxurious 800-room Cinnamon Hotel building. A remarkable 21 million-man hours across 10 acres of land has delivered the completion of structural work on one of the most iconic…
The Memorandum of Cooperation (MoC) among the three governments of Sri Lanka, Japan and India on the development of the East Container Terminal (ECT) located in the Colombo South Port was signed in Colombo on Tuesday, 28 May 2019. As a hub of the Indian Ocean, the development of Sri Lanka and openness of its…
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…
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