Diversifies into Truck & Bus, Construction Equipment and Powerol Businesses with Ideal Motors Mahindra & Mahindra Ltd., a part of the USD 17.8 billion Mahindra Group based in India, announced its entry into three new businesses in Sri Lanka with the debut of Truck & Bus, Construction Equipment and Powerol businesses in the island nation….
• Third quarter fiscal 2017 revenue of $217.2 million, an increase of 3.4% sequentially and 44.2% year-over-year. • Third quarter fiscal 2017 diluted EPS of $0.15 on a GAAP basis, and $0.37 on a Non-GAAP basis. • $237.2 million of cash, cash equivalents, and short-term and long-term investments at the end of third quarter fiscal…
Eight containers containing used vehicle parts released from the Customs to its consignee who is engaged in vehicle assembling was based on a decision made by the cabinet of ministers on the basis of legal advice given by the Attorney General. This Cabinet decision was communicated to the Sri Lanka Customs by the Secretary to…
Haycarb PLC, the Sri Lankan multinational of Hayleys PLC reported revenue of Rs. 9.4 billion and profit before tax of Rs. 768 million for 9 months ending 31 December 2016. The profit after tax stood at Rs. 646 million. The turnover increased by 12%, while the profit before tax and after tax recorded a growth…
Sri Lanka is moving away from taxpayer funded Public Private Partnerships (PPPs), which has been the norm, and switching to privately funded PPPs-and a domestic Infrastructure Corridor Development plan of the government within Sri Lanka has been swiftly promoted at a high profile Asia Pacific investment forum in Dhaka. “Prime Minister Ranil Wickremesinghe is calling…
Fitch Ratings-Hong Kong-09 February 2017: Fitch Ratings has affirmed Sri Lanka’s Long-Term Foreign- and Local Currency Issuer Default Ratings (IDR) at ‘B+’ and revised the Outlook to Stable from Negative. The Country Ceiling and issue ratings on Sri Lanka’s senior unsecured foreign- and local-currency bonds are also affirmed at ‘B+’. The Short-Term Foreign- and Local-Currency…
The highly successful six-month commercial contract by which SriLankan Airlines ‘wet leased’ an Airbus A330-300 aircraft on Aircraft, Crew, Maintenance and Insurance (ACMI) basis with Pakistan International Airlines (PIA) has been completed following a flawless operation throughout the duration of the period of the contract. Captain Suren Ratwatte, CEO of SriLankan Airlines, said: “This contract…
A prominent real estate management and property development company in Sri Lankan, Fairway Holdings (Private) Limited has decided to invest Rs. 550 million in the crisis ridden financial institution, the Multi Finance PLC. Accordingly, Fairways Holdings is to acquire 41.1 million shares of Multi Finance at Rs. 13.40 each, thus investing Rs. 550.87 million. Multi…
One of the world’s most eminent architects, who has a unique association with Sri Lanka, will visit the country next week to grace the 35th annual sessions of the Sri Lanka Institute of Architects (SLIA). Moshe Safdie, the man who designed Altair, the country’s most distinctive and instantly recognized high-rise, will be one of seven…
Perceived Economic Opportunity PEO: December, 2016 This brief report of the Perceived Economic Opportunity (PEO) presents the analysis of a random survey carried out using a sample of 400 men and women in December 2016 covering all districts in Sri Lanka on their expectations of economic prospects in the ensuing twelve months. STATUS OF JOB…
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