Watawala Tea Ceylon Ltd., a fully-owned subsidiary of Estate Management Services Ltd., of Sunshine Holdings Group, has entered into a share sale and purchase agreement with the current shareholders of Daintee Ltd. on 06 August 2020 to purchase a 100% shareholding amounting to 10 million ordinary shares at a total consideration of Rs.1.7 billion. The…
The U.S. State Department and Centers for Disease Control (CDC) and Prevention on Thursday (07) lifted global advisories recommending U.S. citizens avoid all international travel because of the coronavirus pandemic, and instead issued a raft of high-level warnings for individual countries. “With health and safety conditions improving in some countries and potentially deteriorating in others,…
Public transport must adapt to a “new normal” in the wake of the coronavirus disease (COVID-19) pandemic and adopt technologies that will render it more green and resilient to future disasters, according to a new report by the Asian Development Bank (ADB). The report, Guidance Note on COVID-19 and Transport in Asia and the Pacific, details the…
Top Line Impact of ~LKR 2.9Bn Estimated for 1H 2020 Stemming from Covid-19 Direct and Indirect Taxes, Fees and Levies to GoSL – Rs 9.0Bn Capex Investments at Rs 6.4Bn during 1H 2020 and OFCF Improved to Rs 14.0Bn in 1H 2020 Support Extended to Our Customers, Government and Community in Dealing with Covid-19 Dialog…
On July 31, 2020, at the initiative of the Embassy of Sri Lanka in Russia, an online meeting was organized between the Embassy and the Ural Chamber of Commerce and Industry (CCI) for the discussion of potential ways to boost the trade and economic cooperation of the Ural region and Sri Lanka. The Embassy was…
In a strategic move to build in agility, create a robust governance structure, transform and steer the Company into the next tier of growth, Lankem Ceylon PLC a well-diversified conglomerate reputed for its market dominance in the areas of agriculture, consumer products, hotels, industrial chemicals, industrial flooring, food and feed ingredients, plantations, paints, and pest…
Coronavirus disruption keeps hope subdued. Will the gradual opening up of the economy and a win for President Rajapaksa at the general election improve the situation? The Covid19 lock-down and curfew disrupted most economic and social activity during March and April of 2020 and as a result our survey was not conducted for…
Commercial Banks operations will be limited to half-day on the day of the election (05 July 2020), Ada Derana Biz learns. The Bank Supervision Department of the Central Bank has approved the early closure of bank branches tomorrow (05) and the opening hours will be displayed in front of the bank. However, Bank opening hours will vary…
Top industry professional Jayantha de Silva has been appointed to the Board of Diesel and Motor Engineering Plc as an Independent Non-Executive Director. Jayantha de Silva is the Chairman of ICT Agency (ICTA) and has over 30 years’ experience in the IT industry with extensive exposure in national policy making and strategies for knowledge services…
Union Bank recorded a resilient performance within the first six months of 2020 amidst many challenges triggered by the Covid-19 outbreak in Sri Lanka from March this year. Commencing from April 2020, the Bank began to immediately roll out the customer financial relief programmes recommended by the Central Bank of Sri Lanka (CBSL) with special…
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