The conducive demand environment for Sri Lanka based consumer durables retailers is likely to continue in the short to medium term despite possible headwinds from depreciation in the Sri Lankan rupee against major currencies and higher import tariffs, Fitch Ratings says in a new report. The strong demand trend is supported by lower energy tariffs,…
Seventeen New Zealand companies will visit Sri Lanka next week to further strengthen business links between the two countries. New Zealand’s two-way trade with Sri Lanka is worth $323 million with milk powder, fruit and butter being New Zealand’s top exports. New Zealand companies are ready to partner with Sri Lanka in a range of…
As a developing nation, Sri Lanka has a reputation for high literacy and a growing young population. But despite this assumption, the enrolment rate for higher education in Sri Lanka stagnates at around 2.5% compared to 5% in other developing nations. One of the main reasons for this is accessibility to state universities that enroll…
Sri Lankan-born entrepreneur SusanthaShan Halamba, CEO of Texas-based Ceyhinz Link International, Inc., won the Gold Stevie Award of Executive of the Year, Management award under the category of Other Industries. According to the Stevie Awards organizers, Halamba is the first person of Sri Lankan origin, who has won a Stevie Award. Nicknamed the Stevies from…
In discussions with UDA; expects to commence residential, commercial or hospitality project in six months Emboldened by the strong growth prospects of the Sri Lankan real estate market, India-based regional property developer, Sandal Lands (Pvt.) Ltd., has announced plans for Foreign Direct Investments (FDIs) of up to US$ 25 million within the next three to…
Capt. Suren Ratwatte was recently appointed as the Chief Executive Officer of Mihin Lanka with effect from October 2015. Capt. Ratwatte was also appointed as the CEO of SriLankan Airlines and will take over the operational and strategic management of both airlines. Capt. Ratwatte is a well-renowned airline pilot with over 30 years of experience…
As if Apple needed the money, Tim Cook is about to add yet another billion-dollar business to the company’s war chest. Apple Music now has 15 million subscribers, Cook announced at a Wall Street Journal technology conference in Laguna Beach, California, on Monday evening. Of those 15 million, 6.5 million are paying customers (the other…
The Colombo Stock Exchange (CSE) will host “Invest Sri Lanka” Investor Forums in Zurich and London on 28th and 29th of October 2015. The Breakfast Meeting in Zurich will be hosted in association with the Swiss Asian Chamber of Commerce (SACC), while the Investor Forum in London will be hosted in association with Bloomberg. The…
~ Appoints New Director Board to AIA General Insurance Lanka Limited Janashakthi Insurance PLC., made a payment of Rs.3.2 billion to AIA Insurance Lanka PLC., to seal off its acquisition of AIA General Insurance Lanka Limited on 23rd October, 2015. With the financial aspects of the transaction now complete, Janashakthi will commence amalgamation of AIA…
Colombo stock market closed the weekly operations on optimistic note on Friday where investor sentiments continued to remain positive in anticipation of favorable corporate earnings. Benchmark index advanced by 0.18% or 12.64 index points to close at 7,081.49 while S&P SL20 index gained 6.48 index points (+0.17%) to end at 3,825.55. Index performance was driven…
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