Land prices bounce back to growth in the latest Land Price Index by LankaPropertyWeb. The overall land prices in the Western Province increased by 7.8% compared to the previous year, according to the 2024 Western Province Land Price Index (LPI), developed by LankaPropertyWeb (LPW). The Land Price Index (LPI), updated annually, monitors the trends in…
Ambeon Holdings PLC, a diversified conglomerate reputed for its market dominance in the areas of financial services, real estate, technology, and strategic investments, recorded a stellar performance for the financial year (FY) 2023/2024 as per the interim financial results released to the Colombo Stock Exchange recently. Amidst an improving macroeconomic landscape, the group delivered robust…
Applied Graphite Technologies Corp. (“AGT”) (TSXV: AGT) (OTCQB: AGRTF), has closed a non-brokered private placement with a strategic investor and has issued 2,000,000 common shares at a price of $0.15 per share for gross proceeds of $300,000 (the “Offering”). The closing of the Offering is subject to final acceptance of the TSX Venture Exchange. The common shares issued will be subject…
The Monetary Policy Board of the Central Bank of Sri Lanka, at its meeting held on 27 May 2024, decided to maintain the Standing Deposit Facility Rate (SDFR) and the Standing Lending Facility Rate (SLFR) of the Central Bank at their current levels of 8.50 per cent and 9.50 per cent, respectively. The Board arrived…
Ms. Punyamali Saparamadu, Senior Vice President of the CSE Commercial Division, providing a detailed overview on the strategies adopted by CSE to stimulate growth and broaden its revenue sources. Her insights also highlight the new product portfolio as well as issuer relations initiatives of the Colombo Stock Exchange. Can you talk about the role your…
Ceylon Electricity Board (CEB) has divested a 28% stake in LTL Holdings (Pvt) Ltd to West Coast Power (Pvt) Ltd for a consideration of LKR 26 billion. The transfer, finalized on February 7, 2024, is part of a settlement for prolonged outstanding payments for energy purchases from West Coast Power. Following this transaction, CEB’s shareholding…
People of various origins from all corners of the globe inhabited Sri Lanka long before ‘paper’ was invented by the Chinese. When British introduced democratic governance on a ‘paper’ Sri Lankans started editing it in 1948 calling it their constitution. Constitution helps to prevent conflicts but Sri Lankans were conflicting & ended in an economic…
In an era were Artificial Intelligence (AI) is rapidly evolving and transforming enterprise on a global scale, LankaGPT proudly announces the upcoming launch of Sigiriya AI. This groundbreaking tool was developed by a team of 30, spread across Sri Lanka, United States, and Dubai, is geared to launch in July 2024. Sigiriya AI is the…
Mr. Ruwan Wijewardene, Senior Adviser to the President on Climate Change, stated that attracting investments from renowned businessmen such as Tesla and SpaceX CEO Elon Musk would significantly boost the country’s economy. He emphasized that partnering with a project like “Starlink” could provide internet facilities to underserved areas, supporting the growth of various sectors beneficial…
The plantation industry raised its strongest possible objections to the Government’s arbitrary, reckless, unilateral decision to drastically hike minimum wages for tea and rubber sector workers by an unprecedented 70%. All producer stakeholders issued a unified warning against the devastating impact the latest increase will have on the plantation sector, leading crippling operational challenges, ultimately…
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