By Rohan Parikh Sri Lanka is currently going through what appears to be a ‘once in a generation’ crisis, both economically and politically. How would this impact the country’s real estate market, particularly the market for residential condominiums? Firstly, it’s important to understand that unlike, say, manufacturing or services, the impact on condominiums will be…
Luminex Limited has announced their plans for a LKR 250 Million initial Public Offering (IPO) of 31,250,000 ordinary shares at LKR. 8/- per share commencing on the 12th of May 2022. The issue amounts to a 11.52% stake of the company subsequent to the IPO. The amount of LKR 250Mn raised from the IPO will…
Multiple crises and the rise of people power are taking their toll on business sentiment Be it the devaluation of the Sri Lankan Rupee – which has seen it shed nearly 75 percent in a matter of weeks – the ignominy of a virtually cashless treasury, shortages of essentials (not to mention galloping inflation), the…
The largest development project in Eastern Province Investment worth Rs. 5.5 bn on infrastructure facilities and other development purposes Four leading garment manufacturing companies willing to invest Sri Lanka annually spends the US $6 bn on raw materials needed for textile manufacturing. With this Textile Park, raw materials worth the US $500 can be manufactured…
By Prof. Samitha Hettige The Belt and Road Initiative (BRI) is the 21st century Silk Road launched in 2013. The ancient Silk Road and the Maritime Silk Road which took Chinese produce to the world and vice versa was the first ever global economic expansion drive which took place before Columbus reached the Red Indians…
TRACE Expert City contributes to the GDP and employment of highly skilled professionals in Sri Lanka while being a catalyst for entrepreneurship, innovation, growth and sustainability of our nation. We are extremely concerned about the current economic crisis, the lethargic response of the executive and the legislature, and the continued failure to listen to the…
A Sri Lankan delegation, led by Hon. Minister of Finance Ali Sabry, participated in the 2022 Spring meetings of the International Monetary Fund (IMF) and the World Bank Group held in Washington DC during 18-22 April 2022. The delegation had meetings with several International Financial Institutions (IFIs), including the IMF and the World Bank, and…
Shuts down its 3G data network; 2G (voice and text) services to continue uninterrupted Airtel Lanka announced that it will be upgrading its network with additional LTE bandwidth and capabilities by shutting down 3G data services. This will allow Airtel Lanka’s 4G/5G services to be enhanced and improved, offering users a faster and consistent network…
In terms of Section 35 of the Monetary Law Act No. 58 of 1949, the seventy second Annual Report of the Monetary Board of the Central Bank of Sri Lanka was presented today (29.04.2022) to Hon. M U M Ali Sabry, the Minister of Finance, by Dr. P Nandalal Weerasinghe, the Governor of the Central…
For fashion ‘look, touch and feel’ is everything. So it can seem counterintuitive that the world’s largest brands could soon be creating outfits and accessories that will either partly or completely exist in a virtual space. But as much as it may seem like science-fiction, fashion brands are betting heavily on the metaverse. Morgan Stanley…
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