Strong investor interest in Sri Lanka is heightened further by exciting property development projects in Colombo, Altair, the city’s fast-rising twin-tower luxury condominium reports following a successful recent presentation in the United Arab Emirates (UAE). The 400-apartment project instantly distinguishable by its unique leaning tower and parallel upright tower was a sponsor of a networking…
~ Stock Market drops by 13.7 per cent during this year With reports that a Capital Gains Tax is to be imposed on share transactions, the daily trading at the Colombo Stock Market dropped to an unsatisfactory low by noon today (08 March). Accordingly, the All Share price Index (ASPI) dropped by 114.15 per cent,…
The All Share Price Index at the Colombo Stock Market dropped below 6,000 points this morning (08 March). It is noteworthy that this is the first time that such a drop of below 6,000 units has been recorded since 01 April 2014.
The leading provider of hi-tech solutions for the global textile industry has partnered with Sri Lanka’s apparel sector to upgrade the country’s apparel designing to new levels-and the Lankan apparel industry has now entered the 3D design realm for the first time. “With world class certifications we are now supplying to many global brands such…
The Ceylon Chamber of Commerce organized ‘Sri Lanka Investment and Business Conclave 2016’ will commence this evening (08th March, 2016) in Colombo with the participation of 125 plus potential investors, who come from 27 countries. Apart from them, 130 Sri Lankan business executives representing top local firms will also take part in the event in…
H.E. Mr. Somkid Jatusripitak, Deputy Prime Minister of Thailand, will pay an official visit to Sri Lanka on 8-11 March 2016. The Thai delegation comprises around 130 persons from government and private sectors. The objectives of the visit are to follow up on the official visit to Thailand of His Excellency Maithripala Sirisena, President of…
Reuters – The U.S. Commerce Department is set to place export restrictions on Chinese telecoms equipment maker ZTE Corp (000063.SZ) for alleged violations of U.S. export controls on Iran, according to documents seen by Reuters. The restrictions will make it difficult for the company to acquire U.S. products by requiring ZTE’s suppliers to apply for…
• Virtusa completes the acquisition of 51.7% of the fully diluted outstanding shares of Polaris. • Virtusa updates fourth quarter and full fiscal year 2016 guidance based on the transaction closing date. • Jitin Goyal, CEO of Polaris, named President, Banking and Financial Services (“BFS”) of Virtusa and Polaris. • Raj Rajgopal, President of Virtusa,…
~ Records impressive growth with operating income up by 31% crossing LKR 2 Billion. Amãna Bank recorded its first year of core business profits in 2015 sustaining its trend in profitability which commenced in Q4 2014. According to the financials published, the Bank recorded LKR 218.7 million as Profit Before Tax for the year ended…
Fitch Ratings has assigned Sri Lanka-based conglomerate, Richard Pieris & Company PLC (RICH), a National Long-Term ‘A(lka)’ rating. The Rating Outlook is Stable. Fitch has also assigned RICH’s outstanding senior unsecured debentures National Long-Term Ratings of ‘A(lka)’ as they represent senior unsecured obligations of the company and would rank equally with the company’s other senior…
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