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REITs set to offer new avenues of growth for property owners and investors

The Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) and the Colombo Stock Exchange (CSE) recently conducted a webinar titled “REITs: The way Forward and Opportunities”, focusing on the newly introduced Real Estate Investment Trusts (REITs) Framework. The discussion also highlighted key features of this opportunity that can be a catalyst for multiple…

(0)Comments | December 16, 2020 2:52 pm

Education to eradicate poverty, terrorism and extremism

“The Beijing Swift” – By Prof. Samitha Hettige The International Criminal Court (ICC) recently refused to investigate the Peoples Republic of China (PRC) for alleged genocide and crimes against the Uygurs community in the Xinjiang region. The PRC is a permanent member of the UN and is not a signatory to ICC. The USA which…

(0)Comments | December 16, 2020 1:22 pm

Sri Lanka to open Consulate General Office in Madagascar

The Cabinet had approved a proposal to open a Sri Lankan Consulate General Office in Madagascar, the Government Information Department said. The establishment of  Consulate General office in Antananarivo, Madagascar is expected to benefit both the countries, specially the Sri Lankan migrant workers and the business community living in Madagascar. Hence, the Cabinet of Ministers had approved the resolution by the …

(0)Comments | December 16, 2020 12:59 pm

Manufacturing PMI bounces back in November 2020

 PMI for Services sector edged up compared to the previous month yet remained below the threshold level Manufacturing PMI bounced to 57.6 in November 2020 with an increase of 17.3 index points compared to October 2020, the Central Bank said yesterday (15). The significant increase in New Orders, particularly in the manufacture of textile & wearing…

(0)Comments | December 16, 2020 11:23 am

Sri Lanka’s second-quarter GDP growth hits all-time low amid pandemic

1.5% of positive growth rate in third-quarter Sri Lanka’s GDP growth plunged by 16.3%  in the second-quarter of  2020 amidst COVID-19 lockdowns, the Department of Census and Statistics (DCS) said. “The second quarter GDP estimates, has shown unprecedented fall in real GDP by 16.3 percent, with compared to the 1.1 percent of growth rate recorded in…

(0)Comments | December 16, 2020 10:22 am

Team Europe contributes €500 million to COVAX initiative to provide one billion COVID-19 vaccine doses for low-and-middle income countries

High-risk and vulnerable groups and healthcare workers first in line for successful vaccine Team Europe supports global initiative to fight global pandemic through €400 million European Investment Bank loan and €100 million grant to Gavi, the Vaccine Alliance EIB loan guaranteed by European Fund for Sustainable Development Fair and equitable access to a successful COVID-19…

(0)Comments | December 15, 2020 4:02 pm

Hemas divests its shareholding in Serendib Hotels

The Group to drive growth in its core sectors In line with Hemas’ portfolio strategy of focusing on its core sectors –   Consumer, Healthcare and Mobility,  Hemas Holdings PLC (HHL) divested its’ shareholding in Serendib Hotel PLC to Eden Hotel Lanka PLC, a subsidiary of LOLC Holdings PLC for a total consideration of Rs. 791.7…

(0)Comments | December 15, 2020 3:30 pm

Sri Lanka-Russia Business Council holds 17th AGM

The Sri Lanka – Russia Business Council of the Ceylon Chamber of Commerce held its 17th Annual General Meeting virtually on 28th October 2020. Yuri Borisovich Materiy, the Ambassador of the Russian Federation in Sri Lanka and to the Maldives graced the occasion and address the online gathering as the patron of the Council. While…

(0)Comments | December 15, 2020 2:41 pm

Cabinet approval to start construction of International Gem and Jewellery Trade Center

The Cabinet of Ministers has granted approval to commence the construction work of the International Gem and Jewellery Trade Center, the Government Information Department said. ” It has been planned to construct the  International Gem and Jewellery Trade Center  in Demuwawatha, Ratnapura by investing the fund of National Gem and Jewellery Authority to enable sellers and buyers to avail…

(0)Comments | December 15, 2020 1:39 pm

Cabinet nod to remove provincial letters from vehicle number plates

The Cabinet has approved a proposal to remove the provincial letters at issuance of vehicle number plates, the state information office said. “Letters to identify provinces are added to the number plate when registering vehicles which is easy at the vehicular emission tests and annual revenue license issuance.” “However, both the customers as well as…

(0)Comments | December 15, 2020 12:08 pm