IFC, a member of the World Bank Group, is investing $15 million in Senkadagala Finance PLC to help the company expand access to finance for women entrepreneurs across Sri Lanka. This loan is part of the Women Entrepreneurs Opportunity Facility (WEOF), launched by IFC through its Banking on Women (BOW) program, and Goldman Sachs 10,000…
Fitch Ratings has increased its ownership of Fitch Ratings Lanka Ltd. to approximately 89% from 45% through its acquisition of the equity interest of several shareholders. “We are excited about Fitch’s commitment to Sri Lanka, one of Asia’s fastest-growing fixed-income markets,” said Maninda Wickramasinghe, Head of Fitch Ratings Lanka Ltd. “As a global brand recognised…
Reuters – Sri Lankan shares climbed on Thursday to their highest close in one week as Prime Minister Ranil Wickremesinghe survived a no-confidence motion, easing political uncertainty, dealers said. Wickremesinghe won the motion as late on Wednesday as a majority of legislators voted to support his coalition government but the instability caused may damage its…
Serendib Hotels PLC, a subsidiary of Hemas Holdings PLC and a part of the Leisure, Travel and Aviation Group, announced the acquisition of a 48.85% stake of the Frontier Capital Lanka (Private) Limited, the owning company of the Lantern Beach Collection. At the time of acquisition, Serendib Hotels PLC had a stake of 51.15% in…
Expanding its commitment to fostering effective ESG (Environmental, Social and Governance) performance and communication among Sri Lankan listed companies, the Colombo Stock Exchange (CSE) today formalized an arrangement with the Global Reporting Initiative (GRI) to provide guidance to listed companies on ESG disclosures in Sri Lanka. Dr. Aditi Haldar, Director, GRI South Asia and Mr….
A delegation of six Members of the European Parliament Committee on International Trade (INTA) visited Sri Lanka from 4-6 April 2018 to follow up on the country’s commitments made in exchange for access to the European Union (EU) market. The Generalised System of Preferences Plus (GSP+) is of key importance for Sri Lanka’s economy. The…
APL reaffirmed its commitment to contribute to Sri Lanka’s regional hub ambitions as the global ocean carrier inaugurated its new office premises in the business centre of Colombo. APL, which celebrates 170 years of global shipping in 2018, said that Sri Lanka’s neighbouring economies such as Bangladesh and India that trans-ship significant cargo volumes via…
While The Waters Edge Hotel has been successful in recording a profit Rs. 240 million during the year 2017, it has focused on further developing its operations and physical infrastructure facilities. A proposal by Megapolis and Western Development Minister Patali Champika Ranawaka to construct a luxury 48 room medium scale urban hotel for Waters Edge…
It has been identified that certain amendments need to be made to the Companies Act No. 07 of 2007, in a bid to develop Sri Lanka’s investment opportunities and to maintain Sri Lanka’s Trade Index at a higher level. Accordingly, the Cabinet approved a proposal by Minister of Industries and Trade Rishard Bathiutheen to affect…
A new underground rainwater drainage pipeline is to be constructed at the Muthuwella and Torrington areas to transform Colombo into a flood resilient capital under the Metro Colombo Urban Development Project. The Cabinet approved the proposal submitted by Megapolis and Western Development Minister Patali Champika Ranawaka to award this contract to M/s China Petroleum Pipeline…
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