A leading UK manufacturer has gained BOI approvals to begin laying the foundation for its newest state of the art manufacturing facility in Sri Lanka. Flexicare (Group) Limited is a UK headquarted manufacturer and supplier of medical devices, with subsidiaries in over 12 countries and 2 manufacturing sites, providing disposable medical consumables to over 110…
Iconic Sri Lankan multinational, Hayleys PLC, recorded a strong all-round performance in the third quarter of 2018 (3Q18), as the Group turnover rose by 20% Year-on-Year( YoY) to Rs. 59.7 bn, resulting in a sharp 80% YoY increase in Group’s Earnings Before Interest, Tax, Depreciation and Amortisation ( EBITDA) toRs. 9 bn for the quarter…
Central Bank says awaiting to receive balance US $ 16 Mn out of US $ 75 Mn from ETI’s investors, further clarifies on sale of ETI related companies and assets Sri Lanka’s financial market regulator in a statement released to general public on yesterday (11th February) said that some misinformation is circulating pertaining to ETI Finance Ltd…
Reuters – ** Sri Lanka’s rupee ended a tad higher on Monday, as exporters and foreign banks sold dollars, amid government securities’ purchase by foreign investors, market sources said. ** The stock market, however, closed slightly weaker, while foreign trading boosted the turnover. ** The bond market saw inflows of 11.4 billion rupees in the…
Sri Lanka is negotiating with Russia the purchase of a new batch of Russian Mi-17 helicopters, which the country will use in UN peacekeeping missions, Sri Lankan Ambassador to Russia Dayan Jayatilleka had told Sputnik News on Sunday, international reports noted recently. “There is a commission that discusses the purchase of Mi-17 helicopters,” Jayatilleka…
Interview with the President and Vice President of SLIM Following the announcement of the launch of the SLIM Nielsen Peoples’ Awards program for the 13th consecutive year, the President of SLIM, Mr. Pradeep Edward and the Vice President, Mr. Roshan Fernando shared with us the history, purpose and process of the only awards campaign in…
The world’s leading IRONMAN triathlon is taking place for the second time in Sri Lanka, showcasing the country as a global destination for international sporting events Sri Lanka Tourism Promotion Bureau will be the title sponsor of the So Sri Lanka IRONMAN 70.3 Triathlon, which will be held at Galle Face Green, Colombo on February…
New Zealand-based diary group Fonterra that sell Anchor, Red Cow, Newdale, Raththi, Pedia Pro and Anlene brands to the Sri Lankan market recently denied claims made by legislators that Fonterra products contain pork fat. “These claims are completely false and we would like to reassure our consumers that all of our milk powder products…
Sri Lanka’s Finance Ministry lead by Minister Mangala Samaraweera had allocated Rs. 5.0 billion to buy rice at guaranteed prices from farmers ahead of the upcoming major harvest season, the government informed recently. The cabinet of ministers had approved the proposal by Finance Minister Mangala Samaraweera to provide Rs. 5.0 billion for paddy purchases….
Reuters – ** Sri Lanka’s rupee ended weaker on Friday as importers purchased U.S. dollars while releasing goods after a week-long strike by customs officers that left 6,000 containers stranded at the country’s main port was called off. ** The strike by thousands of officials began a week ago in protest at the sacking of…
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