The Board of Investment of Sri Lanka signed an agreement with CMA-CGM Shared Service Centre Lanka (Pvt) Ltd to set up a business processing outsource center to provide services to the export market. The agreement who are signed by Dr. Lakshman Jayaweera, Chairman of Board of Investment of Sri Lanka and Mr. C S Ananda,…
Alibaba Group Holding Ltd, in its first big investment since raising US$ 25 billion in a record-breaking New York initial public offering, has bought 15 percent of Chinese hospitality technology provider Beijing Shiji Information Technology Co Ltd for 2.81 billion yuan ($458.66 million), Reuters reported today (28 September). The investment is expected to allow the…
Colombo stock market concluded weekly operations on a mixed note amid notable net foreign outflows. ASI marginally increased by 0.73 index points or 0.01% to end at 7,233.71 while 20-scrip S&P SL index declined by 4.60 index points or 0.11% to close at 4,008.42. Price appreciations in counters such as Good Hope (closed at LKR…
Following the shares of Asiri Central Hospitals PLC being de-listed from the official list of the Colombo Stock Exchange, the name of the company is to be changed to Asiri Central Hospitals Limited in accordance with the Companies Act of Sri Lanka. At the Annual general Meeting on 25 September the company authorized the sale…
Arpico Finance Company PLC has decided to accept the offer by Alfinco Insurance Brokers (Pvt) Limited to repurchase the shares held by Arpico Finance Company PLC in Alfinco Insurance Brokers (Pvt) Limited for Rs. 186,100,000 which amount has been independently arrived at by KPMG as being fair. All necessary regulatory approvals have been obtained.
Eight accuses found guilty of Sri Lanka’s largest VAT fraud case sentenced to 20-year imprisonment and fined approximately 30 billion rupees by the Colombo High Court.
The Asian Development Bank (ADB) has approved an $800 million loan facility to fund rural and national road upgrades in six provinces in Sri Lanka, that will significantly improve access of remote communities to markets, services, and jobs. “Providing all-weather road access to towns and villages in rural areas will bring greater development and prosperity…
Developing Asia remains the fastest growing region globally despite slower-than-expected growth in major industrial countries as key economies in the region move ahead with structural reforms, says a new Asian Development Bank (ADB) report. In an update of its flagship annual economic publication, Asian Development Outlook 2014 (ADO 2014), released today, ADB kept its forecasts…
Hemas Holdings PLC and Minor International PLC, the parent companies of Leisure Asia Investments Limited and Lodging Investment (Labuan) Limited have made a proposal to the Board of Serendib Hotels PLC to consolidate the multiple Sri Lankan hotel property investments of Serendib Hotels PLC and the two major shareholders under Serendib Hotels PLC. While considering…
Samsung has announced that it is ending sales of its laptop computers in Europe. The move includes its Chromebook model, which had previously been one of the category’s best-sellers. The South Korean company’s decision follows Sony’s announcement earlier this year that it was selling its Vaio division and pulling out of PC sales altogether. However,…
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