Bharti AirtelBSE 0.05 % today appointed Jinesh Hegde as Chief Executive Officer of its Sri Lanka operations. He takes on this role from Suren Goonewardene and will report to Ajai Puri, Director – Market Operations (India & South Asia), Bharti Airtel. “I am confident that his rich and diverse experience and able leadership will add…
Fitch Ratings has affirmed Lion Brewery (Ceylon) PLC’s (Lion) National Long-Term Rating at ‘AA-(lka)’. The Outlook is Stable. The agency also affirmed Lion’s senior unsecured rating and the rating on its debentures at ‘AA-(lka)’. The National Long-Term rating takes into account Lion’s strong business profile as the leading beer producer in Sri Lanka. The rating…
Dankotuwa Porcelain PLC is to raise additional funds through a Rights Issue of 90,307,178 shares in proportion of five (05) new ordinary shares for every four (04) shares at Rs. 08 per share. The current stated capital of Dankotuwa Porcelain PLC is Rs. 679,644,223 represented by 72,245,742 shares. The funds thus raised would be utilized…
The entire island country of Sri Lanka could soon get free Internet beamed down from Google Loon balloons, and it might not have happened without one of the co-owners of the Golden State Warriors. Prime Minister Ranil Wickremesinghe and Google Loon executive Mike Cassidy met Tuesday in Colombo, the capital, to sign a memorandum of…
Shreepati Edifice (Pvt) Ltd, an Indian property development company, has entered into an agreement with the Sri Lanka Board of Investment for the construction of the island’s tallest building consisting 96 floors with an investment of USD 330 million. The unique feature is that this building has been designed while paying tribute to the Sri…
Colombo bourse closed above 7,300 mark for the first time in five months as investor sentiment build up in anticipation of political stability after the parliamentary polls scheduled to be held in two weeks’ time. Benchmark index bagged 52.90 index points or 0.73% to close at 7,313.97 while 20-scrip S&P SL index retook the 4,100…
Sanjaya Dissanayake, a one-time prominent sports journalist in Sri Lanka is currently a technical officer within the television sector in Australia. This is what he says about Sri Lanka’s television sector and its related manufacturing industries:
Though there is political instability in Sri Lanka currently, when compared to other ordinary countries, the island nation’s economic growth is stronger, the international rating agency Moody’s has stated. However, Moody’s has stresses that Sri Lanka needs to focus strong attention on its foreign debts and budget deficit. While Moody’s has rated the Sri Lankan…
The Litro Gas Lanka Ltd on Wednesday (29) denied allegations that the government has signed a MoU with Shell Gas Ltd to purchase Gas at US D 105 per MT, contrary to international tender procedures. This allegation was leveled by former Minister Bandula Gunawardena. He also alleged that the Government has approved the privatization of…
A factory which allegedly made up to 41,000 fake Apple iPhones has been raided in China, with nine arrests. The operation reportedly involved “hundreds” of workers repackaging second hand smartphone parts as new iPhones for export, with counterfeit phones produced worth 120m yuan ($19m). The factory was discovered on 14 May but was revealed on…
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