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Thornton acquires Dane Engineering for Rs 350 million

Thornton and Dane’s combined projects portfolio tops Rs 5.9 billion New entity says confident of doubling portfolio in FY 2021-22 Thornton Engineering, the Nextventures owned civil engineering company, has announced the acquisition of a 100% stake in Dane Engineering (Pvt) Ltd. for Rs 350 million, creating a construction business with a combined portfolio of Rs…

(0)Comments | September 16, 2021 9:04 am

CSE implements a new OTC Platform to conduct REPO Transactions on Debt Securities

The Colombo Stock Exchange (CSE) announces the introduction of a new Over the Counter (OTC) Platform to facilitate the Repurchase (REPO) Transactions on Corporate Debt Securities with effect from tomorrow (16th September 2021). The new OTC Platform is a significant step in the product expansion line-up of the CSE and is projected towards establishing a…

(0)Comments | September 15, 2021 6:05 pm

Sri Lanka Central Bank Preparing Economic Stability Roadmap

Bloomberg – Sri Lanka’s new central bank governor said he will soon unveil a roadmap to ensure economic and financial stability as the nation faces depleted foreign exchange reserves and looming debt payments. “The central bank’s first and urgent priority under my watch, will be to provide clarity with regard to the movement of Sri…

(0)Comments | September 15, 2021 5:48 pm

It’s time for urgent economic reforms

Sri Lanka faces one of the worst economic crises in its history. COVID-19 pandemic only exacerbated the existing weaknesses in the economy, the roots lie in unsustainable debt, fiscal indiscipline and low rates of growth. To get out of the crisis comprehensive and deep economics reforms that are structured to a clear timeline is needed,…

(0)Comments | September 15, 2021 5:21 pm

Weak Operating Environment Continues to Pressure Sri Lankan Bank Ratings

Fitch Ratings-Colombo-15 September 2021: Heightened risks from the challenging operating environment stemming from the Sri Lanka sovereign’s (CCC) weak credit profile and the ongoing Covid-19 pandemic continue to pressure the ratings of large Sri Lankan banks, says Fitch Ratings in a new report. Large banks’ financial performance since the pandemic’s onset has been better than…

(0)Comments | September 15, 2021 4:15 pm

CSE Engages Entrepreneurs in Kandy to Present Empower Board Opportunities

The Colombo Stock Exchange (CSE) successfully concluded the fifth virtual forum organized as part of an awareness drive for island-wide Small and Medium Enterprises (SME). The event, which was held for SMEs in Kandy, attracted over 25 companies, indicating a strong interest among the entrepreneurial community based in the region. The series of virtual forums…

(0)Comments | September 15, 2021 3:09 pm

Initial statement by Governor Ajith Nivard Cabraal upon taking office on the 15th September 2021

I am extremely privileged to lead the Central Bank once again and deeply humbled by the trust and confidence reposed in me by the President, Prime Minister and Finance Minister to take up this responsibility. I also deeply appreciate the good wishes that I have received from thousands of our countrymen. I will assure all…

(0)Comments | September 15, 2021 12:19 pm

Lulu Hypermarkets – launches “Taste of Sri Lanka” across its Branches in the Western Region of KSA

Lulu Hypermarket in Saudi Arabia has launched a Sri Lankan products promotional week and the inaugural session of the Western Region of KSA was held at the Jeddah Main Branch in Amir Fawaz under the patronage of Acting Consul General T. F. M. Aashiq along with other staff of the Consulate and received by Regional…

(0)Comments | September 15, 2021 9:21 am

SLTPB in collaboration with the Consulate General of Sri Lanka in Mumbai, conducts a Webinar on “Opening Sri Lanka for Indian Travelers”

After much speculation and carefully revised health protocols, Sri Lanka Tourism is taking progressive measures to rejuvenate the Tourism sector amidst the current pandemic situation. As an effort to boost tourist arrivals from India, Sri Lanka Tourism Promotion Bureau, along with the Consulate General of Sri Lanka in Mumbai, organized a virtual awareness session on…

(0)Comments | September 15, 2021 8:43 am

Capital Alliance enters Bangladesh

Becomes First JV Stockbroker to Receive Trading Rights at Dhaka Stock Exchange The joint venture (JV) company recently established in Bangladesh by Sri Lanka’s Capital Alliance (CAL) became the first JV entity to receive the Trading Right Entitlement Certificate on the Dhaka Stock Exchange (DSE) from the Bangladesh Securities and Exchange Commission (BSEC). CAL is…

(0)Comments | September 15, 2021 7:45 am

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