Reuters – U.S. private equity firm TPG, one of three bidders short-listed to buy a 49 percent stake in state-owned SriLankan Airlines, has pulled out of talks about the potential acquisition, the chairman of the national carrier said. Sri Lanka has been looking to sell the minority stake in the airline along with management control,…
~ Boston Lanka presents the First ever US Lanka Fashion week in Staten Island, New York The Sri Lankan fashion week in New York will be the first ever event to promote Sri Lankan fashion exclusively in New York City for a duration of one week. In addition to the prestigious fashion designers coming from…
Sales of Rs. 9.4 billion for the quarter ending 31 March 2017 Sluggish market conditions, prevailing drought and additional taxes impact results Commences capacity expansion in its Kurunegala factory with an investment of over Rs 4.5 billion, reinforcing commitment to Dairy and Coconut industries Products recognised for high quality standards at SLSI Certification Awards Nestlé…
The number of tourist arrivals during April 2017 is 160,249 according to the latest statistics released by the Sri Lanka Tourism Promotion Authority. Compared to the arrival of 136,367 tourists during the corresponding month in 2016, this is a growth of 17.5 per cent. While 765,202 tourists had arrived in Sri Lanka during the first…
SriLankan Airlines marked year of transformation in its recently ended financial year, carrying the highest number of passengers ever in the airline’s history. Based on draft un-audited accounts, the total operational revenue increased to LKR136.68 billion from LKR129.48 billion in the prior year. However, difficult market conditions resulted the airline to record an un-audited Net…
Over 40 members of the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka), who hold senior management positions in the public and private sectors received their certification in forensic accounting recently. A total of 42 CA Sri Lanka members who formed the first batch of the institute’s forensic accounting certificate programme were…
Reuters – Sri Lankan shares ended firmer on Thursday, helped by foreign buying in blue chips, after the International Monetary Fund said it may consider the country’s request for a second loan review. The Colombo stock index ended 0.59 percent stronger at 6,602.44, near its one-year closing high hit on Friday, boosted by foreign buying…
RIL Property Limited (RIL) rang the opening bell to commence trading and celebrate the listing of its shares on the Colombo Stock Exchange (CSE) today. RIL is an owner, developer and manager of Grade ‘A’ commercial office space in select core markets in Colombo. Chairman Mr. Sunil Wijesinha, CEO/Executive Director Mrs. Hiroshini Fernando and…
The Colombo Stock Exchange (CSE) is pleased to announce the appointment of Mr. Ray Abeywardena as the Chairman of the Board of Directors of the CSE with effect from 5th May 2017. Mr. Abeywardena succeeds Mr. Vajira Kulatilaka, who steps down as the Chairman on the conclusion of the customary three year term. Mr….
The staff-level agreement is subject to the completion of a prior action by the authorities and the approval of the IMF Executive Board, which is expected to be considered in June 2017 The new Inland Revenue Act should pave the way for a durable fiscal consolidation. Maintaining the reform momentum in an uncertain external environment…
Video Story
