Macksons Minerals & Polymers (Pvt) Ltd, a subsidiary of Macksons Holdings, has signed an agreement worth U$ 17 million with the Board of Investment. The company is initiating an ambitious program to construct a state-of-the-art processing plant, with the aim of enhancing the value of locally sourced minerals. The facility will produce ultra-fine ground calcium…
The IMF is reviewing recent tax revision announcements made by Sri Lanka’s president and plans to provide a detailed assessment in its staff report following Executive Board approval of the Extended Fund Facility (EFF). Speaking at a press briefing on Thursday (19), Julie Kozack, Director of the IMF’s Communications Department, stated that while a full…
The Central Bank of Sri Lanka (CBSL) has taken proactive measures to address the alarming increase in prohibited schemes, which poses risks to the financial system stability and protection of the general public from such schemes. These initiatives include conducting investigations under Section 83C(3) of the Banking Act to determine whether individuals or entities have…
Divasa Pharma Limited, providing factual clarity on recent allegations made in parliament, says the company was issued a license to sell medicine by wholesale by the National Medicines Regulatory Authority (NMRA) on 18 August 2018, which has been continuously renewed to date. Accordingly, Divasa Pharma Ltd has been a local authorized distributor of George Steuart…
Leader among banks in the “Happiest Second Home” ranking The Commercial Bank of Ceylon has been ranked No 1 among Sri Lankan banks in the inaugural Corporate Happiness Index (CHI) just released by LMD magazine. The Bank has also been ranked one of Sri Lanka’s “happiest second homes” taking fifth place overall in the ranking,…
Following Hambantota Port Group’s (HIPG) recent investment in upgrading crane facilities to expand container operations at the Hambantota International Port (HIP), Comfort Mattress Lanka (Pvt) Ltd. has become the first investor to seize the opportunity to set up operations in the port’s industrial park. With an investment of USD 25 million, the project targets key…
Reuters – Sri Lanka is unconcerned about the Adani Group’s dealings with other countries and only focused on its $1 billion worth of projects in the island nation, President Anura Kumara Dissanyake told Indian media during an official visit to Delhi this week. Dissanayake was on his first state trip to Sri Lanka’s powerful neighbour after winning…
Australian High Commissioner in Sri Lanka H.E. Paul Stephens and his team met Mr. Mangala Wijesinghe, Chairman/Chief Executive Officer of EDB to strengthen bilateral trade relations between Australia and Sri Lanka. Sri Lanka and Australia bilateral relationship has vastly expanded over the past 75 years, through deep people-to-people ties, trade and investment, tourism, culture and…
The Colombo Chamber of Commerce commends President Anura Kumara Dissanayake’s recent official visit to India, describing it as a significant step toward strengthening bilateral relations and introducing innovative approaches to advance Sri Lanka’s economic and social development. India, as Sri Lanka’s largest trading partner and a key player in the regional geopolitical landscape, was a…
Elpitiya Plantations PLC marked an extraordinary year, earning accolades at two of Sri Lanka’s most prestigious award ceremonies—the TAGS Awards 2024 by the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) and the Best Corporate Citizen Sustainability Awards by the Ceylon Chamber of Commerce. These honors reflect the company’s dedication to financial transparency,…
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