Bloomberg – Germany raised 760 million euros ($760 million) from the sale of the state’s full stake in Deutsche Lufthansa AG, unwinding all of the holding it took to keep the flagship carrier afloat during Covid-19 lockdowns. The country’s Economic Stabilization Fund, or WSF, disposed of its remaining 9.92% of Europe’s largest airline via a…
Twitter’s shareholders have voted to approve a deal with Elon Musk to buy the company for $44bn (£38bn). BBC – The decision was made in a short conference call with investors from the company’s San Francisco headquarters. It means Twitter will now try to force Elon Musk to buy the company in the courts. The…
The Alumni Association of the Postgraduate Institute of Management (PIMA), Sri Lanka’s largest and most prestigious MBA alumni network, will hold its first ever PIMA Strategic Forum on September 20 at the Shangri-La, Colombo. Titled “Sri Lanka’s turnaround strategies and the role of the international community” the event will see some of the finest minds…
Fitch Ratings – Colombo – 14 Sep 2022: Fitch Ratings has downgraded Sri Lanka-based Resus Energy PLC’s National Long-Term Rating to ‘A(lka)’, from ‘A+(lka)’. The Outlook is Negative. Fitch has simultaneously downgraded the National Long-Term Rating of Resus’s outstanding senior unsecured debentures to ‘A(lka)’, from ‘A+(lka)’. The downgrade follows our expectation that Resus’s financial flexibility…
Thank you for inviting me today, Chairman Prasan Fernando and friends at United Tractor Limited. I know earlier this year, you celebrated 75 years of infrastructure industry excellence, dedicated customer service, and engineering prowess – congratulations. You should be very proud. And your longstanding collaboration with Caterpillar in the United States is a testament of…
Mr. Pradeep Amirthanayagam has been appointed as the Independent Non-Executive Chairman of the People’s Leasing and Finance PLC with effect from 12 September. He was appointed to the Board of People’s Leasing & Finance PLC as an Independent Non-Executive Director on the 15th of July 2022. On previous occasion he had served on the Board…
Establishing its presence as a global digital payment solutions provider, Sri Lanka’s leading Merchant Acquiring bank, HNB PLC, signed on as Internet Payment Gateway Provider for the national carrier, Sri Lankan Airlines. The airline joins the most extensive portfolio of local merchants with access to enhanced e-commerce functionalities with the ability to offer customers seamless,…
Reuters – Financial advisory group Lazard (LAZ.N) has started talks with India, China and Japan on restructuring Sri Lanka’s debt, a spokesman for the Sri Lanka government said on Tuesday, as the crisis-hit island nation seeks an International Monetary Fund (IMF) bailout. Lazard was hired by Sri Lanka in May, along with international lawyers Clifford Chance, to…
The newest record label and music distribution aggregator in Sri Lanka, eTunes, equips and develops the next generation of local musicians with the resources and chances they need to succeed internationally. eTunes may assist indie artists and bands in going viral by collaborating with major music streaming services like Spotify, iTunes, YouTube, and Instagram. Local…
JICA recognizes immediate Maize requirement for the fast-approaching season To address the immediate needs of the ongoing socio-economic crisis in Sri Lanka, Japan International Cooperation Agency (JICA) in the partnership with the United Nations Development Programme (UNDP) in Sri Lanka will procure a significant portion of maize seed requirements in Sri Lanka, targeting the Maha…
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