The Sri Lanka Customs disclosed that they are unable to achieve the expected revenue from this year’s budget due to the restrictions imposed on the import of goods including the suspension of vehicle imports. This was disclosed at the Sectoral Oversight Committee on National Economic and Physical Plans. Sri Lanka Customs officials stated the above…
Hemas recently announced the acquisition of a 24.9% stake of Atlas Axillia Company (Private) Ltd, for a total consideration of Rs.3.4Bn. With this strategic move, the Group now owns 100% of Atlas Axillia Company (Private) Limited, expanding its market presence and reinforcing its position as a key player in the Consumer Brands Sector. “Atlas is…
People’s Leasing & Finance PLC (PLC) has announced the proposed acquisition of a 33% stake in First Capital Holdings PLC(FCH), signaling the beginning of a new chapter of business growth through horizontal integration and diversification as a powerhouse of growth in the financial sector. With the proposed acquisition which is subject to the approval of…
Privatization of the telecom industry does not pose a threat to national security, according to Professor Rohan Samarajeeva, former Director General of the Telecommunications Regulatory Commission. During his participation in the President’s Media Division’s ‘101 Katha’ program, Professor Samarajeeva expressed his opinion regarding the Sectorial Oversight Committee’s report on National Security, stating that it relies…
Reuters – Sri Lanka’s President Ranil Wickremesinghe is likely to discuss the crisis-stricken nation’s debt with Paris Club members on the sidelines of a trip to France next week, sources familiar with the matter told Reuters on Tuesday. Since defaulting last May on its foreign debt for the first time in history, Sri Lanka has…
SriLankan Aviation College, the training arm of SriLankan Airlines, has spread its wings to the North and the East of Sri Lanka by partnering with British College of Applied Studies (BCAS) to provide students in the region a pathway to internationally-recognized qualifications in aviation. SriLankan Aviation College found a capable franchisee partner in BCAS following…
One of Sri Lanka’s leading research firms, Research Intelligence Unit says plantation companies are very optimistic about the revoking of the ban imposed on the usage of chemical fertilizer and see it as the ex-factor for a production boost in 2023, as compared with 2022. The companies consider labor as a crucial element of their…
The Postgraduate Institute of Management (PIM) with the focus of strengthening the ties with the leading industry bodies to advance management & contemporary business education and competencies of the local & regional workforce entered into a MoU with the Federation of Information Technology Industry Sri Lanka (FITIS) to work together to advance management education to…
The International Finance Corporation (IFC) recently organized ‘Sri Lanka Climate Finance Workshop’ to deliberate on the importance of climate finance opportunities and challenges for financial institutions in Sri Lanka. The event brought together key public and private sector stakeholders with discussions focusing on emerging green finance opportunities and innovative financing structures, opportunities in climate smart…
Reuters – Sri Lanka’s government has decided to extend a restriction on outward capital transactions by six months due to pressure on its limited foreign exchange reserves, cabinet spokesperson Bandula Gunawardena said on Tuesday. The decision will be revisited after debt talks are finalised in September, added Gunawardena, who is also the transport minister of…
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