Senkadagala Finance PLC, a registered finance company announced today (4) that it has acquired Candor Asset Management (CAM), a Sri Lankan unit trust and private portfolio management for an estimated Rs.26.7 million. Candor Asset Management is licensed and regulated by the Security and Exchange Commission of Sri Lanka to manage Unit Trust funds and Private…
First Capital Research believes that the Central Bank will not change its policy rates at the policy meeting scheduled for tomorrow (5), as it reduced rates by 50 basis points in January 2020 to support the continued reduction in market lending rates. The second policy meeting for the year by the Monetary Board of the…
Sri Lanka’s tourism sector has taken a beating following coronavirus outbreak According to the latest data released by the Sri Lanka Tourism Development Authority (SLTDA) the total number of international tourist arrivals to Sri Lanka fell by 17.7% to 207,507 in February from a year earlier, when the arrivals were 252,033 mainly due to the…
South Asia’s first fully-electric supercar Vega EVX, designed and manufactured in Sri Lanka, was officially unveiled yesterday (3) at the Geneva International Motor Show 2020 in Switzerland. However, the Geneva Motor Show did not go as usual due to concerns surrounding the coronavirus outbreak, but it did not hinder car enthusiasts from launching their latest products. “In 2013 and…
BBC – The US central bank has slashed interest rates in response to mounting concerns about the economic impact of the coronavirus. The Federal Reserve lowered its benchmark rate by 50 basis points to a range of 1% to 1.25%. The emergency move comes after the G7 group of finance ministers pledged action earlier on…
Foreigners arriving in Sri Lanka by passenger ships would not be allowed to disembark with immediate effect due to the risks posed by the rapid spread of COVID-19, the Director-General of the Health Services Dr. Anil Jasinghe said. Addressing a special media briefing in Colombo today (3), Dr. Jasinghe further stated that the Health Ministry reached…
Lycamobile, the world’s largest mobile virtual network operator (MVNO) and part of the Lyca Group, is delighted to announce the sale of Lycamobile Spain (“the Company”) to the publicly listed Masmovil, a Spanish mobile network operator (MNO). The deal is valued at €372 million and Masmovil has also opted to retain the Lycamobile brand in Spain for…
The 32nd Joint Meeting of UN World Tourism Organization’s Commission for East Asia and the Pacific and the UNWTO Commission for South Asia will be hosted by Sri Lanka from 29th June to 01st July 2020 in Colombo and Sri Lanka Tourism Development Authority is currently in the process of organizing the conference. The theme…
Nestlé was recognised as Sri Lanka’s number one F&B company at the recent Business Today TOP 30 awards. The company jumped nine places from its previous ranking to become one of the top 10 companies on the list, which featured Sri Lanka’s best-performing corporates across all industries. The event awarded organisations that had achieved growth…
Sentiment is dealt a body blow on account of the emergence of a global health alert Just when Sri Lankan businesses thought a semblance of normalcy was emerging following the negative impacts of the Easter Sunday terrorist attacks last year, they’ve been hit by another blow in the form of COVID-19. The infectious disease caused…
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