LANKATILES embarks on this strategic partnership to seize emerging opportunities in high demand for mosaic tiles in US markets on account of recent trade barriers on China’s exports to the US LANKATILES, the pioneering wall and floor tile manufacturer in Sri Lanka, announced that it will be entering the globally competitive mosaic tiles segment. LANKATILES…
Sri Lanka’s LOLC Holdings yesterday (6) stated that it has entered into two agreements with Kookmin Bank, to sell its Cambodian sub-subsidiary for 603 million US dollars. In a stock market disclosure the company noted that its subsidiary LOLC International Ltd. of Singapore on 6 January along with other minority shareholders of PRASAC Microfinance Institution Ltd….
The Central Bank has decided to issue a commemorative coin of Rs. 20 and a new currency note of Rs. 2,000 under the existing 11th note series in 2020 to mark its 70th anniversary. Security features will also be further upgraded in the existing 11th currency notes series. To provide the required coins and notes…
Corporates are optimistic following a series of encouraging policy implementations According to the latest monthly LMD-Nielsen Business Confidence index (BCI) survey, almost two-thirds (up from less than a third in the prior month) of respondents consulted by Nielsen, for LMD’s publisher Media Services, anticipate that the economy will improve in the next 12 months. This…
The Central Bank of Sri Lanka will enact a new Banking Act in 2021, which will also contain provisions to extend regulations for banks, which are to be established in the Colombo International Financial Centre. “We initiated drafting a new Banking Act and expects to complete its enactment in 2021, the central bank governor Prof. W. D. Lakshman said…
While change is buffeting the industrial manufacturing industry from a number of directions, the most disruptive changes will be those which manufacturers can and should make for themselves. Many of these manufacturers are already taking advantage of technologies like the Internet of Things (IoT) and as we head into 2020 will find themselves early adopters…
The Central Bank of Sri Lanka plans to engage with international agencies including the International Monetary Funds (IMF) remaining within the overall national policy framework, the CBSL governor said. “We hope to engage with the IMF and other international agencies remaining within the overall national policy framework, negotiating for changes in the IMF programme where changes are considered…
China Merchants Port Holdings (CMPort) and French Container Shipping Company, CMA CGM, entered into the Master Agreement which will see their jointly-owned business, Terminal Link, acquire an interest in 10 terminals owned by CMA CGM for $955 million. The terminals are Odessa Terminal (Ukraine), CMA CGM PSA Lion Terminal (CPLT) (Singapore), Mundra Terminal (India), Kingston…
The Monetary Board of the Central Bank of Sri Lanka, acting in terms of the Regulations made under the Registered Stock and Securities Ordinance and the Local Treasury Bills Ordinance, has decided to extend the suspension of Perpetual Treasuries Limited (PTL) from carrying on the business and activities of a Primary Dealer for a period…
The New Year 2020 kicked off with a fresh start and good vibes for Sri Lanka, for the island destination bagged its first award of the year, as Asia’s best destination for Wildlife Tourism at Top Asia Corporate ball 2019, which was held in Shangri-La Hotel, Kuala Lumpur, Malaysia. Sri Lanka was ranked first for…
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