The Government of Sri Lanka (GoSL) intends to divest all or part of equity shareholding in Canwill, the parent company to Sinolanka Hotels & Spa (Pvt) Ltd (Sinolanka) and Helanco Hotels & Spa (Pvt) Ltd (Helanco). I. Sinolanka: Owns an under-construction top tier landmark hospitality asset in Colombo, built to Grand Hyatt specks since Sinolanka has entered into a…
Shadows loom large as the pendulum swings yet again amid multiple sensitivities Business confidence remains clouded by ongoing developments – and heavily dependent on their outcomes. The IMF’s review of the four-year Extended Fund Facility (EFF), ongoing debt discussions with creditors, rapid disinflation, fluctuating fuel prices and the added complexity of the Israel-Palestine conflict –…
The transmission line will support India’s decarbonization efforts Adani Energy Solutions Ltd. (AESL) has commissioned a new green evacuation transmission project in Tamil Nadu state. The project includes the establishment of the 400/230 kV, 1000 MVA Karur Pooling Station, along with its associated transmission Line In & Line Out (LILO) of the 400 kV D/C…
The Central Bank of Sri Lanka co-hosted the CBSL-ADBI-APAEA Workshop for the fourth consecutive year, in collaboration with the Asian Development Bank Institute (ADBI) and the Asia-Pacific Applied Economics Association (APAEA), on 27 October 2023 at the John Exter International Conference Hall of the Central Bank. This year’s conference was held under the theme of…
They say cowards die many times & the brave only once. There must be many who bravely invested in the ventures of late Lalith Kotelawala (LK) & die daily due to the fall. They may know if LK died once or not after his fall from fame in 2008. LK once said that he grew…
Fitch Ratings – Global bond yields have risen significantly in recent months as US economic growth has picked up, supported by strong consumer spending and job creation. The rise in yields in the US and Europe is despite signals from central banks that policy interest rates are approaching peaks and clear evidence that monetary tightening…
SriLankan Airlines has reaffirmed its commitment to Pakistan by launching a fourth weekly flight between Colombo and Lahore effective 31 October 2023, connecting the two cities every Sunday, Monday, Tuesday and Thursday with the new addition. SriLankan Airlines also operates four times a week to Karachi, and is the only foreign airline in the Indian…
Huawei announced its business results for the first three quarters of 2023 today. During this period, Huawei generated CNY456.6 billion in revenue, with a year-on-year increase of 2.4% and a net profit margin of 16.0%. “The company’s performance is in line with forecast,” said Ken Hu, Huawei’s Rotating Chairman. “I’d like to thank our customers…
By Rohan Parikh, Chairperson of Iconic Developments In the world of investments, where variables abound, real estate stands as a symbol of unwavering stability. Its intrinsic qualities and unyielding demand make it a fortress against the erosive forces of inflation and economic turbulence. As we delve into this discussion, we take a thought leader’s perspective…
Deloitte in Sri Lanka and Maldives today announced the appointment of Channa Manoharan as their Country Managing Partner and Gerard David as Deputy Country Managing Partner. Channa, a senior partner with over two decades of experience will now lead the network entities in Sri Lanka and Maldives, as it embarks on its next phase of…
Video Story
