On June 26, the U.S. Embassy in Colombo, in partnership with the Sri Lanka Department of Import and Export Control, launched the first Sri Lanka Strategic Trade Forum. This event brought together a diverse audience from government and the private sector to address critical aspects of trade security and explore the development of competitive practices…
Softlogic Life, the second-largest life insurer in the Sri Lankan market, has announced a Rs. 6 billion share buyback, pending shareholder approvals. The buyback price is Rs. 102.40 per share for up to 58,593,750 shares of the current 375,000,000 shares in issue. The company aims to optimize capital and enhance shareholder value, leveraging its strong…
All re-exports should be done only on the recommendations of the Ministry of Industries – Minister of State for Finance Dr. Ranjith Siyambalapitiya State Minister for Finance Dr. Ranjith Siyambalapitiya says that measures are being taken to ban the illegal export of metal, iron, related equipment and scrap in the country, and in the future,…
Dialog Axiata PLC (“Dialog”), Axiata Group Berhad (“Axiata”), and Bharti Airtel Limited (“Bharti Airtel”) (collectively “the Parties”) successfully completed the share sale transaction, with Dialog acquiring 100% of the issued shares in Bharti Airtel Lanka (Private) Limited (“Airtel Lanka”) through a share swap. Post this share swap, Axiata holds 73.75% of Dialog while Bharti Airtel will…
A new IPS study reveals a substantial price sensitivity of beedis and smokeless tobacco products in Sri Lanka. A 10% increase in beedi prices corresponds to a 5.6% reduction in beedi consumption, while a similar price hike for betel quid is projected to lead to a 10% decrease in betel consumption. Key empirical findings from…
Smallholder farmers report profits of over one million rupees per cultivation season from 0.25 acres of land after adopting GAP. The Food and Agriculture Organization of the United Nations (FAO) modernized farms and introduced Good Agricultural Practices (GAP) to over 600 smallholder vegetable farmers in Badulla, Monaragala, and Mullaitivu districts. The initiative focused on equipping…
Hongkong Land’s strategic investment of US$400 million (HK$3.1 billion) in LANDMARK reinforces Central, Hong Kong as a world-class destination for luxury retail, lifestyle and business Hongkong Land estimates an additional US$600 million (HK$4.7 billion) capital investment from retail tenants across the LANDMARK retail portfolio Cartier, CHANEL, Dior, Hermès, Louis Vuitton, Prada, Saint Laurent, Sotheby’s, Tiffany & Co., and Van…
The Sri Lanka Bank’s Association (SLBA) has rejected a reported recent tirade against banks by two senior lawmakers, describing their remarks as “misconceived, inaccurate, misleading and unhelpful.” The SLBA, which represents all banks licensed by the Central Bank of Sri Lanka (CBSL) including state banks, public listed companies and branch offices of international banks, said…
JAT Holdings PLC, market leader in wood coatings and paint products and emerging regional conglomerate, recently announced the appointment of three new Directors (Non Board Directors): Ajith Bandara as Director – Research & Development, Dilshan Rodrigo as Director Marketing and Shamara Wanniarachchi as Director/Country Head- Bangladesh. These additions bring a wealth of expertise and experience…
Business Standard – India on Wednesday welcomed Sri Lanka’s debt restructuring agreement with a group of creditor nations and said it will continue to support the island nation’s economic recovery, including by promoting long-term investments. India is one of the co-chairs of the Official Creditors Committee (OCC) that was formed in April last year to…
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