Expolanka Holdings PLC Thursday (28) announced that the following resolutions were duly approved by the shareholders of the company at an Extraordinary General Meeting held on March 27, 2024. The company’s shareholders approved the delisting of the ordinary shares of Expolanka Holdings PLC from the official list of the Colombo Stock Exchange. This decision is…
Bloomberg – Sri Lanka is working on a proposal to exchange its existing dollar bonds for new securities, a step that would help the crisis-plagued South Asian country secure more international financial aid. The Ministry of Finance said on Thursday that it was inviting banks to submit proposals for the transaction. Financial institutions would work…
Headline inflation, as measured by the year-on-year (Y-o-Y) change in the Colombo Consumer Price Index (CCPI, 2021=100) decelerated sharply to 0.9% in March 2024 from 5.9% in February 2024. This deceleration in the headline inflation is broadly in line with the projections of the Central Bank of Sri Lanka (CBSL). Non-Food Category recorded a deflation…
Reuters – The world’s largest refiner, China’s Sinopec plans to start work on a refinery in Sri Lanka by June, the power minister said on Thursday, advancing a project earmarked as the biggest investment in the crisis-hit island nation. Sri Lanka is looking to attract investment in the battle to stabilise its economy and return…
By Chaya Dissanayake and Rashmi Anupama The growing demand for Electrical Vehicles will boost the demand for both synthetic and natural graphite, particularly non-Chinese graphite, with the introduction of the US’ Inflation Reduction Act (IRA). High-quality Sri Lankan vein graphite, certified as environmentally sustainable with the “green” label, will solidify its standing in the global…
Early on Tuesday morning, tragedy struck as the Francis Scott Key Bridge in Baltimore, Maryland succumbed to collapse following a collision by the 10,000 container-capacity vessel “Dali” which had lost power while enroute from the U.S. to Colombo, Sri Lanka. Regrettably, the aftermath of the incident has left at least six individuals unaccounted for. Our hearts and sympathies extend…
Abans PLC says that the local franchisee of McDonald’s is not under their group of companies. In a statement, Abans further said: The local franchisee of McDonald’s is International Restaurant Systems (Private) limited incorporated under the Companies Act No. 7 of 2007. The majority shareholder of the said company is Mr. Rusi Pestonjee who owns…
Applied Graphite Technologies Corp. (“AGT”) (TSXV: AGT), is pleased to announce that it has purchased the past-producing Queen’s Mine in Sri Lanka. The property is centrally located between AGT’s Dodangaslanda Graphite Properties. The combined properties will be called the Queens Mine Complex (“QMC“). The Queens Mine was reported to be extracting high-grade graphite veins at a rate of 20 tonnes…
Announces Ambitious Education Reform and Collaboration with India for Technological Advancements. President Ranil Wickremesinghe highlighted Sri Lanka’s commitment to agricultural modernization and emphasized the nation’s goal of reducing multi-dimensional poverty. By 2035, Sri Lanka aims to ensure that multi-dimensional poverty does not exceed 10%. While achieving zero poverty is unprecedented, the President acknowledged that even…
Sri Lankans in coastal areas learning at temples entered ‘Scholar-hal’ (Schools) during the Portuguese rule. Class room education introduced by St. John Baptist De LaSalle of France (Patron saint of Teachers) continued with the Dutch & the British as a violence control tool but those marginalized (due to caste & class etc.) got exposed to…
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