Softlogic Capital PLC which is the financial services holding company of the Softlogic Group, reported Profit after Tax for the Sector of Rs 782 Million for the financial year ended March 2015. The result was more than double previous year’s PAT of Rs 309 Million. The numbers are unaudited and were released to the Colombo…
Virtusa Corporation (NASDAQ GS: VRTU), a global business consulting and IT outsourcing company that combines innovation, technology leadership and industry solutions to transform customer experience, joined hands with the 54th Division of the Sri Lanka Army to promote reconciliation through sports. Under this partnership, Virtusa designed and donated software to operate the LED digital scoreboard…
Sri Lanka’s Porcelain Products are world famous for a number of reasons. Quality, reliability and innovation are synonymous with the Sri Lankan porcelain manufacturing industry which produces tableware to fulfill high export demands. Here we take a look at the production process at Dankotuwa Porcelain, a world class manufacturer of quality porcelain tableware.
The first episode in a special series of interviews with Consultant Engineer Sam Samarasinghe, who has provided consultancy services to Singapore’s unique leader Lee Kuan Yew’s government when building the city state.
The Sri Lankan Rupee is depreciating against the US dollar since the dollar is strengthening, says Governor of the Central Bank of Sri Lanka Arjuna Mahendran. When questioned during a media briefing about the current depreciation of the Sri Lankan Rupee, the Central Bank Governor said that this is not an internal issue pertaining to…
During a media briefing at the Finance Ministry this morning, journalists raised several questions from Central Bank of Sri Lanka Governor Arjuna Mahendran over irregularities said to have occurred in the Central Bank’s controversial 30 year Bond issue. In response, the Governor said that he cannot comment on the issues since investigations are still ongoing….
Volatility returned to the market on Friday to wrap the weekly activities on a negative note. Benchmark All Share Price index lost 35.42 points or 0.49% to end at 7,220.29 while S&P SL index lost 34.38 points (-0.85%) to end at 4,000.66. Today’s losses were mainly driven by price declines in primary blue chip counters…
The Central Bank of Sri Lanka (CBSL) launched and priced a US$ 650 million 10-year International Sovereign Bond (Issue) at a yield of 6.125 per cent per annum. The Issue represents the eighth US Dollar benchmark offering in the international bond markets by Sri Lanka since 2007. Citigroup Global Markets Inc., Deutsche Bank, The Hong…
Sri Lanka is currently stuck in a position while being unable to compete against countries with lower labor costs or labor productivity. If to emerge from this trap, Sri Lanka has to go for reforms immediately, warns an economic academic. Dr. Indrajit Coomaraswamy points out that Sri Lanka is unable to compete with countries like…
Asian Development Bank (ADB) and the Government of Sri Lanka signed the $107 million second tranche loan agreement of an $800 million multi-tranche financing facility to upgrade roads. “Providing all-weather road access will help link rural communities to socio-economic centres in Sri Lanka, thereby enabling rural communities to reap and enjoy the fruit of economic…
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