Joint Shared Services for Industries in the Southern Province Hambantota International Port Group (HIPG) and the Board of Investment of Sri Lanka (BOI) signed a cooperative “Shared User Services” Memorandum of Understanding (MoU) on the 26th of October 2021. Johnson Liu, Chief Representative of China Merchants Port Holdings in Sri Lanka and CEO of HIPG,…
The United States government disbursed $150 million in financing to DFCC Bank on November 12 to support sustainable development of Sri Lankan community-based businesses. This is the largest loan disbursement by the U.S. Development Finance Corporation (DFC) for Sri Lanka, and it is part of a $265 million commitment designed to support the local Micro, Small, and Medium Enterprise (MSME) sector,…
The Silk Road Journal by Mahika Ming The 2021 Belt and Road International Regatta was held in The 2021 Belt and Road International Regatta was held in Beihai, China from the 4th till 12th of November. Beihai is in the Guangxi Zhuang Autonomous Region in the south of the Peoples Republic of China (PRC). The Belt…
The Management of Tokyo Cement Company (Lanka) PLC recently laid foundation for a factory expansion project in Trincomalee, to increase its manufacturing capacity by a further 1 million Metric Tons. The project scheduled to be completed by early 2023 will bring Tokyo Cement Group’s total installed capacity to 4 million MT, firmly establishing the Company’s…
Capital Alliance Limited (CALT), one of Sri Lanka’s non-bank primary dealers is pleased to announce the successful conclusion of its Virtual Investor Forum. The event was held to bring together investors from across a wide spectrum of disciplines, both foreign and local, to discuss CALT’s upcoming Initial Public Offering (IPO) scheduled for the 25th of…
Sampath Bank produced strong results for the nine months ended 30th September 2021, despite the challenges caused by prolonged impact of the COVID -19 pandemic. Due to the strategic initiatives and target orienting business plans, the Bank was able to steer through volatile economic conditions created by the pandemic to record a sizable 76.4% improvement…
Reliance Retail Ventures Limited (RRVL) has acquired retail lingerie businesses under the ‘amante’ umbrella brand from MAS Brands, a wholly-owned subsidiary of Sri Lanka-based MAS Holdings, for an undisclosed amount. The ‘amanté business’, which was established by MAS in 2007, is engaged in retail and wholesale distribution of premium lingerie under brands ‘amanté’, ‘Ultimo’ and…
Nations Trust Bank ended the third quarter with a strong performance, continuing the trend demonstrated in the first half of the year. The loan book recorded an 18% growth during the nine months ended 30th September 2021 against the private sector credit growth of 10.6% during the same period of the year, amidst the challenging…
The Budget Speech of the 76th Budget of an Independent Sri Lanka at 2.00 p.m Budget Debate in Sign Language for the Hearing-Impaired Community Hon. Basil Rajapaksa, Minister of Finance will present the Second Reading of the Appropriation Bill for the financial year 2022 in Parliament tomorrow (12). The budget speech will begin at 02.00…
Capital Alliance Limited (CALT) announced its intentions to list on the Colombo Stock Exchange, by way of an equity Initial Public Offering (IPO). It will be the first standalone non-bank Primary Dealer to debut on the CSE. This issue will open on the 25th of November 2021. The highly anticipated virtual Investor Forum will commence…
