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French billionaires pledge $339m for Notre Dame cathedral rebuild

Yahoo Finance UK – French billionaire François-Henri Pinault and his family said on Monday evening that they will donate €100m (£86.3m, $113m) to rebuild the historic landmark Notre Dame Cathedral in Paris, France, after it was ravaged by a fire yesterday. Soon after, French billionaire Bernard Arnault and his luxury goods group LVMH (MC.PA) pledged €200m towards the…

(0)Comments | April 16, 2019 4:07 pm

Jet Airways extends cancellation of international operations till April 19

This comes a day after the carrier had suspended its operations in SAARC and ASEAN regions indefinitely Jet Airways Monday said its services on overseas routes will remain grounded until April 18, even as the lenders failed to take a call on extending an emergency funding to the airline. In an internal communication, chief executive…

(0)Comments | April 16, 2019 1:28 pm

IFC Report Estimates Investors Appetite for Impact Investing Could Be as High as $26 Trillion

Investors’ appetite for impact investing—in which they seek to generate positive impact for society alongside strong financial returns—could be as much as $26 trillion, according to a new report issued by IFC, a member of the World Bank Group. The report, Creating Impact: The Promise of Impact Investing, is the most comprehensive assessment so far…

(0)Comments | April 16, 2019 9:50 am

Cabinet nod for Colombo Stock Exchange to be converted to a company limited by shares

Recent Cabinet Decisions highlights that attention has been focused to convert the Colombo Stock Exchange, functioning as a “not for profit” member driven organization into a “for profit” organization which is controlled by the shareholders. Accordingly, the proposal made by Mangala Samaraweera, the Minister of Finance to amend the drafted bill for converting the Colombo…

(0)Comments | April 16, 2019 9:02 am

India’s Jet Airways extends international flight suspension

Reuters – Jet Airways plans to extend its suspension of international flights until Thursday having not received any interim funding from lenders, the company said in a letter to employees on Monday. The airline, saddled with some $1.2 billion of bank debt, has been struggling after failing to receive a stop-gap loan of about $217…

(0)Comments | April 16, 2019 4:42 am

Cabinet nod for Securities Exchange Bill amendments

Latest Cabinet Decisions highlights that a new draft bill has been presented in Parliament to update the existing Securities Exchange Bill. Accordingly, the proposal made by Mangala Samaraweera, the Minister of Finance to amend the Securities Exchange Bill incorporating amendments with regard to correcting errata needed for effective capital market regulation and to increase the…

(0)Comments | April 16, 2019 4:02 am

Etihad Group Faces Another Failure As India’s Jet Airways Collapses

Forbes – India’s Jet Airways is undergoing a spectacular collapse and even last-minute financing might not be enough to get the airline back in the air. It’s looking like another failure for Etihad Group, which has tried to buy its way into closed markets by taking stakes in a number of struggling airlines. The growth of low-cost competition in India,…

(0)Comments | April 15, 2019 11:56 pm

Karadiyana – How a signature national project has come to a standstill

The present situation Prior to the inception of the Karadiyana Waste Management project, the landfill consisted of two disposal sites; A and B. A plot of land in extent of 10 acres was allocated adjacent to Site B, which was being used to dispose of waste. The sheer volume of waste that was being dumped…

(0)Comments | April 11, 2019 7:17 pm

IFC Helps CBSL Launch Roadmap to Raise Financial Sector’s Contribution to Sustainable Development

The Central Bank of Sri Lanka, with support from International Finance Corporation (IFC) and the United Nations Development Program (UNDP), has launched the Sustainable Finance Roadmap for the financial sector to increase capital flows to activities with a positive impact on the environment, society, and governance (ESG), and also manage the risks associated with these…

(0)Comments | April 11, 2019 12:16 pm

Sri Lanka to implement Integrated Tourism Digital Platform (ITDP) to target US $ 7 Bn revenue from Tourism

Cabinet Decisions released to public this week highlights that the Sri Lanka Tourism Strategic Plan 2017-2020 has been implemented with the objective of achieving the objectives of increasing the current income rate of US $ 3.5 billion received from the Tourism Industry up to US $ 7.0 billion, increasing local job opportunities in the field…

(0)Comments | April 11, 2019 10:16 am