John Keells Properties (JKP), Sri Lanka’s premier real estate developer, has unveiled its latest residential development, Vauxhall DSTRCT, introducing a striking 60-storey residential tower within Colombo’s central urban corridor. The project recorded a strong market response, with over 100 apartments sold by the opening day, underscoring sustained demand for well-located residential developments in the heart of Colombo. Strategically located on Vauxhall…
City of Dreams Sri Lanka, in collaboration with Cinnamon Hotels & Resorts and Walkers Tours, have partnered with FitsAir, on their direct scheduled passenger flights connecting Ahmedabad and Colombo, enhancing connectivity for Indian travellers to South Asia’s first fully integrated resort. FitsAir, Sri Lanka’s first private international airline, will operate the service, providing travellers with…
National Development Bank PLC (NDB/ the Bank) recently announced that it successfully raised LKR 16.0 billion through the issuance of Basel III-compliant Tier II Rated Unsecured Subordinated Redeemable GSS+ Bonds (the GSS+ Bonds), to be listed on the Colombo Stock Exchange (CSE). This issuance marks a major milestone in thematic fundraising within Sri Lanka’s capital markets landscape, signaling…
Reuters – Asian stocks slumped on Friday, poised for a second straight weekly decline as fast-dwindling hopes of a resolution to the U.S. and Israel’s war with Iran kept oil prices aloft, casting a shadow over global markets and spurring inflation fears. The U.S. dollar has become the safe-haven of choice during the tumult, putting…
Reuters – Oil prices dropped on Friday morning after the U.S. issued a 30-day license for countries to buy Russian oil and petroleum products currently stranded at sea, easing supply concerns. Brent futures dropped 71 cents, or 0.71%, to $99.75 a barrel by 0123 GMT, and U.S. West Texas Intermediate crude was down 88 cents,…
Economic Times – Direct passenger flights between Ahmedabad and Colombo will begin from May 15 under a partnership between City of Dreams Sri Lanka, Cinnamon Hotels & Resorts, Walkers Tours and Sri Lankan carrier FitsAir. The service will operate three times a week and aims to improve connectivity for Indian travellers to Sri Lanka’s integrated resort…
The Ceylon Chamber of Commerce brought together Sri Lanka’s business, diplomatic, and government communities, hosting a high-level networking evening recently at the Cinnamon Grand, Colombo. Acting Minister of Foreign Affairs and Foreign Employment, Hon. Arun Hemachandra, attended as the Chief Guest. The event welcomed Ambassadors, High Commissioners, and Consuls General representing nearly 50 countries, alongside…
The Export Development Board (EDB) recently held a high-level meeting to discuss the critical issues faced by exporters of major products to middle east market due to the ongoing conflict in the Middle East region. The primary objective of the session was to identify potential support and assistance that the EDB, in collaboration with other…
Dipped Products PLC (DPL) recently commemorated its 50th anniversary by ringing the market opening bell on the trading floor of the Colombo Stock Exchange (CSE) celebrating a half a century. DPL, founded in 1976, is a leading manufacturer of protective handwear and plantation management service provider, leveraging access to premium natural rubber and serving customers…
Reuters – Oil prices jumped on Thursday as Iran stepped up attacks on oil and transport facilities across the Middle East, raising fears of a prolonged conflict and oil-flow disruptions through the Strait of Hormuz. Brent futures rose $8.54, or 9.28%, to $100.52 a barrel at 0354 GMT, while U.S. West Texas Intermediate crude was…
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