Sri Lanka’s most MSME friendly bank HNB PLC, announced the launch of a Rs. 20 million grant fund to support 200 microfinance customers affected by the ongoing COVID-19 pandemic across the country. The fund, established by the Bank through the HNB Sustainability Foundation, will offer microfinance customers up to Rs. 100,000 to upscale their businesses…
The Colombo Stock Exchange (CSE) closed trading for the day (07) recording a daily turnover of Rs.9.14 billion. The benchmark All Share Price Index (ASPI) gained 61.08 points (or 0.87%) to close at 7,097.84 while S&P SL20 Index of more liquid stocks dropped by 10.63 points (or 0.39%) to end at 2,692.56. Meanwhile, today 74 companies…
LOLC Investments Limited has sold its entire stake in Sri Lanka’s BPPL Holdings Limited today (07) for an amount of Rs.1.28 billion. Reportedly, LOLC Investments has sold 80,546,372 shares (26.25%) held by the company in BPPL Holdings at a value of Rs.16.00 per share. LOLC Investments is the second largest shareholder of BPPL Holdings Limited….
The Board of Directors of the Colombo Stock Exchange (CSE) have made a decision to change the tick size applicable to equity securities traded on the Automated Trading system (ATS). The necessary rule changes have been carried out by the CSE to facilitate this change with the approval of the Securities & Exchange Commission of…
Combines advancements in low-cost spectral imaging with artificial intelligence systems Offers molecular-level quality control of produce across entire value chain Enables optimization of fertilizer, pesticide, weedicide usage, prediction of yields, quality Already filed for tech patents globally Spectrify AI, a part of VeracityAI Sri Lanka’s fastest going AI company announced the launch of a new…
Full statement as follows: MAS continues its care to keep Sri Lanka safe during the latest COVID-19 outbreak As the number of COVID-19 infections increase across the island, the management of MAS is paying close attention to its manufacturing facilities that have detected a number of employees with the virus. Each of these facilities are…
Pasan Wanigasekara assumed duties today (07) as the new Director General of the Board of Investment of Sri Lanka, the Investment Promotion Agency of the Government of Sri Lanka. In his address to the senior staff Wanigasekara shared his vision for the BOI: a dynamic and robust outfit that is armed and competent to compete…
Sri Lanka Telecom vehemently denies the statement made by the leader of the opposition in parliament on 5 January 2021, claiming that the company had spent Rs. 2 Billion on a recent brand name change, as baseless and devoid of truth. The parliamentarian further claimed that such funds should have been spent on the repatriation of…
Low rates and higher market liquidity to support growth Factor in ~1.5 bn in FDIs in 2021; driven by greater focus on public-private partnerships, manufacturing sector, and investments into Colombo International Financial City Leading stockbroking firm Asia Securities (Pvt) Ltd., maintained that all signs point to a strong GDP growth trajectory in 2021. The latest…
By Forbes and Walker Tea Brokers Overview 2020 will no doubt go down in history as one of the most challenging years with the Covid-19 pandemic changing the world in many ways. The Sri Lankan tea industry was no exception as its world-famous outcry system of auctioning tea having a 137-year-old history was changed to…
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