Setting a precedent for public-private partnerships of the future, leading corporates such as MAS Holdings are stepping-up to support national efforts in controlling the transmission of COVID-19 by leveraging their industry expertise. As the protection of frontline workers becomes paramount, MAS Holdings has been addressing the growing demand for Personal Protective Equipment (PPE) across Sri…
Sri Lanka’s stock market opened today (11 May) after a seven-week trading halt only to shutter within minutes following a more than 10% drop in a gauge of blue chip shares, highlighting the risks of a long hiatus. According to the stock market trading system, the last transaction has been processed around 11.00.38 a.m. The All Share…
Atlas Axillia (Pvt.) Limited, a subsidiary of the Hemas Group, gifted three more fully homegrown Automated Guided Vehicle (AGV) robots to Dr. Anil Jasinghe, Director General of Health Services, Ministry of Health and Indigenous Medicine recently. Atlas’ AGVs, the first robots to be introduced in the fight against COVID-19 in Sri Lanka, are already in…
The Colombo Stock Exchange which was reopen on Monday (11 May 2020) after a seven-week shutdown, was closed immediately for trading right after the opening bell as the S&P SL20 index plunged about 10.11% from the previous close (20 March 2020) Here, the S&P SL20 index indicated a fall of 196.93 points to 1,750.49. This is…
Pursuant to several inquiries received by Audit Firms from Listed Companies/regarding the disclosure to be made on the impact of COVID – 19, The Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka), in consultation with the Colombo Stock Exchange (CSE) has established a Task Force to develop a ‘Corporate Disclosure Guidance Note’ (‘Guidance…
The impact of the coronavirus pandemic on the alcoholic beverage industry has been well-documented over the last several weeks. Alcoholic beverage manufacturers were ordered to cease on-site consumption in their taprooms as a result of statewide stay at home orders have been forced to take drastic measures to stay in business. Meanwhile, Lion Brewery Ceylon Plc,…
The Colombo Stock Exchange (CSE) is set to resume trading on Monday (11 May 2020) after its longest ever shut down aimed at combating the COVID-19 pandemic. This decision has been taken consequent to the announcement made by the Government that both public and private sector entities in the districts of Colombo, Gampaha, Kalutara and…
Begins 11th May with a weekly service offering capacity of up to 50 tonnes per flight to more than 65 cities and counting Emirates SkyCargo has announced the commencement of scheduled cargo flights from Colombo, following the successful operation of special flights in the second half of April to support Sri Lankan exporters’ efforts to…
A new Molecular Diagnostic Laboratory of the National Institute of Infectious Diseases (IDH) was declared open on 28 April 2020 by Dr. Anil Jasinghe, Director-General of Health Services. The new Laboratory was made possible due to funding and pledges received from private sector donors Melstacorp PLC, John Keells Holdings PLC, Deutsche Bank and South Asia…
GlaxoSmithKline has sold its stake in Unilever’s Indian business for $3.4 billion, marking India’s largest block trade, which will help the British company in its goal of reinvigorating its drug development pipeline. The transaction GSK announced on Thursday comes as it pursues a two-year programme to split into two entities after it made costly bets…
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