Colombo has seen a dramatic increase in activity and development following the ending of the thirty year civil war in 2009. Much of the development has been credited to the real estate sector, which has experienced significant growth in the past five years. “As infrastructure continues to advance in the form of highways and large-scale…
Quebee Den Founder/CEO Rohanthi Wijewickrama has won Gold in the Small Scale Enterprises category at the prestigious “Woman Entrepreneur of the Year” awards. “The Woman Entrepreneur of the Year” is the biennial flagship event of Women’s Chamber of Industry and Commerce (WCIC), which recognizes outstanding women entrepreneurs who change the world. It acts as…
Sri Lanka’s Central Bank (CBSL) Governor Dr. Indrajit Coomaraswamy addressing the media last week said that now ‘Central Bank expects 2018 to end with 4% growth lower from 4.5% forecast earlier”. CBSL governor’s comments came after just in a less than a month’s time since he noted that Central Bank had to revise down the…
Corporates are adopting a go it alone approach amid a challenging policy milieu Sri Lanka’s listed entities recorded robust earnings growth in the first quarter of 2018 with the banks, and finance and insurance companies leading the way – this despite relatively weak consumer demand and lacklustre corporate sentiment. It has also been reported that…
Sri Lankan Investment Banker and Deal Maker Asanga Seneviratne controlled leisure property arm – Anilana Hotels and Properties (ALHP) that has over 128 acres under management has finalized a deal with investor- Singapore’s Somap for an infusion of capital to the tune of over Rs. 513 million via a private placement, a Colombo Stock Exchange…
Singer Sri Lanka PLC, a subsidiary of business magnate Dhammika Perera-controlled Hayleys PLC, has appointed fashion icon and Sri Lanka’s ‘Retail Queen’ entrepreneur and retail fashion store chain Odel founder Otara Gunewardene to the Board as a Non-Executive Director. Reports also outlined that Otara is the first female Director on the Board in Singer Sri…
Reuters – Sri Lankan shares rose for the second straight session on Friday as foreign investors picked up shares that had been battered in recent days, brokers said. Sri Lanka’s central bank left its key policy rates unchanged as expected on Friday before the market opened, and said the decision backed its goals for stabilising…
Glyphosate ban impacted 60% of Agrochemical sale volumes of CPC The country’s state owned fuel utility, country’s largest importer Ceylon Petroleum Corporation’s (CPC’s) has imported 508,000 litres of Glyphosate to the tune of over US $ 171,880 or over Rs. 24.7 million (at US $ 1 at Rs. 144.06 in value as at the end…
Reuters – Edible oil traders are sourcing exports of palm oil and other cooking oils to India from neighbouring countries, designating the supplies as duty-free under a regional free-trade pact and circumventing India’s import tax hike on the oils. India, Bangladesh and Sri Lanka are among the signatories of the South Asian Free Trade Agreement…
Fintek Managed Solutions (Pvt) Limited has announced its acquisition of the Integrated Business Solutions (IBS) unit of Brown and Company PLC. With this acquisition Fintek consolidates its role as the authorized distributor of Sharp office automation products and solutions in Sri Lanka. In a previous release detailing its role as the distributor for Sharp products,…
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