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Hatton Plantations Ltd commences trading at CSE

The shares of Hatton Plantations Ltd (CODE: HPL) commenced trading on the Colombo Stock Exchange (CSE) today. The shares, which were listed by way of an introduction on the Diri Savi Board of the CSE have been classified under the ‘Plantations’ sector. The occasion was marked through a Bell Ringing ceremony hosted by the CSE….

(0)Comments | February 2, 2018 5:46 pm

Allianz to acquire Janashakthi General Insurance Limited in Sri Lanka

Allianz, the global financial services leader, today announced that it has entered into an agreement with Janashakthi Insurance PLC (“JINS”) to acquire 100% of its subsidiary Janashakthi General Insurance Limited (“JGIL”) for LKR 16.4 billion (EUR 85.9 million). The transaction is subject to regulatory approval and is expected to complete in the first quarter of…

(0)Comments | February 2, 2018 11:50 am

Janashakthi Insurance enters into agreement with German-EU company

Janashakthi Insurance PLC a sale and purchase agreement with Allianze SE, a company incorporated in Germany and the European Union, bearing registration number HRB 164232 and with its registered office at Königinstr. 28, 80802, Munich, Germany for the sale of the entirety of the Janashakthi Insurance PLC’s shares in its wholly owned subsidiary Janashakthi General…

(0)Comments | February 2, 2018 11:30 am

November exports up 16%

The external sector performance in November 2017 was supported by continued inflows to the financial account of the Balance of Payments (BOP) mainly with higher foreign inflows to the government securities market, and marginally improved earnings from tourism. Although a double-digit growth in exports has been recorded, partly driven by the low base recorded in…

(0)Comments | February 2, 2018 10:59 am

Qatari Emir ratifies agreement with Sri Lanka

Qatari Emir Sheikh Tamim bin Hamad Al Thani has ratified a number of international cooperation agreements in various fields, including a deal between Qatar and Sri Lanka. The Xinhua news agency quoted the Qatar News Agency (QNA) as saying the Emir ratified a deal on visa exemption and collaboration in health and medical sciences between…

(0)Comments | February 2, 2018 10:57 am

Sri Lanka shares climb to highest close in three weeks

Reuters – Sri Lankan shares rose for a second straight session on Thursday to their highest close in more than three weeks as foreign buying boosted sentiment, brokers said. The Colombo stock index ended up 0.34 percent at 6,498.45, its highest close since Jan. 10. “The positive sentiment is continuing. Both local retailers and foreigners…

(0)Comments | February 2, 2018 12:07 am

Decision to freeze Perpetual Treasuries Ltd accounts extended

On an application made by the Attorney General on behalf of the Criminal Investigation Department, the High Court of Colombo earlier today made order extending the order made last week by the Director of the Financial Investigation Unit of the Central Bank freezing all bank accounts of 24 companies of the Perpetual Treasuries Group LD…

(0)Comments | February 1, 2018 10:35 pm

AirAsia Offers Exclusive Deals to Kuala Lumpur, Malaysia

AirAsia today announced a special deal of RS.12,699 for direct flights from Colombo to Kuala Lumpur, Malaysia. The exclusive promotion is part of the airline’s efforts to further engage the local market ahead of its plans for 2018.   Travellers can discover the best of Malaysia with the iconic attractions and world-class shopping experience in…

(0)Comments | February 1, 2018 5:31 pm

Mobitel pioneers 4.5G (4G Plus) network to revolutionize Sri Lanka’s mobile telecom industry

Sri Lanka’s National Mobile Service Provider, Mobitel, is proud to be the first to initiate the roll out of the 4.5G network to revolutionize the industry and to significantly enhance user experience for its valued customers. This strategic initiative by Mobitel positions the company to be the pioneer in the industry to upgrade its technology…

(0)Comments | February 1, 2018 4:49 pm

Southeast Asia’s Top Drugmaker Eyes Sri Lanka, Mideast Expansion

Bloomberg – PT Kalbe Farma, whose antacid drug Promag is a household name in Indonesia, is seeking a partner in Sri Lanka and eyeing the Middle East as a new market for its nutritional products. The pharmaceutical company, Southeast Asia’s biggest, will initially export its products to Sri Lanka before joining hands with a local…

(0)Comments | February 1, 2018 4:32 pm