Mahindra Finance will invest LKR 2 billion until March 2021 for up to 58.2% stake in Ideal Finance. The joint venture will capitalize on Mahindra Finance’s 25-year expertise in the financial servicesdomain and Ideal Finance’s domestic market knowledge to build a market leading financial services business in Sri Lanka. The strategic investment in Ideal Finance…
Total Operating Income grows by 7% to 5 billion Taxes and levies to government, accounts for LKR 2 billion which is 60% of operating profit Economic slowdown, migration to SLFRS 9 push up impairment charges by 55% Volatile economic conditions which prevailed in the country and affected many key economic sectors since the second…
Launches new logo with purpose – Reimagine Today and Reinvent Tomorrow Millennium IT ESP is now an agile creator – shapeshifting to stay ahead of change Sri Lanka’s leading Systems Integrator and Information Systems Provider MillenniumI.T. E.S.P. (Pvt) Ltd., (Millennium IT ESP) announced the launch of its new corporate brand identity, its purpose, redesigned…
Despite the economic sluggishness recently taking its toll across the economy, there is buoyancy and positive market sentiments being witnessed due to the upcoming Presidential Elections, Chairman of Softlogic Holdings PLC, Ashok Pathirage said in the SHL’s interim financial account released to the Colombo stock exchange. “The macroeconomic status will not pick up overnight due…
The Government has mobilized Loan assistance amounting to USD 160 million from the Asian Development Bank (ADB) to cater to the increasing demand of the Railway Sector through modernization of the railway operations and thereby improving the efficiency of services provided by Sri Lanka Railways. The total estimated investment cost of the Project is USD…
The Sri Lanka Association of Software and Services Companies (SLASSCOM) and the Norwegian Ministry of Foreign Affairs entered into a two-year agreement to foster collaboration in the ICT industry. The newly appointed Norwegian Ambassador to Sri Lanka, H.E. Trine Jøranli Eskedal and Mr. Ranil Rajapakse, Chairman SLASSCOM signed the agreement. The Norwegian Ambassador H.E….
(Reuters) – Sri Lankan shares fell to their lowest close in nearly two weeks on Monday, as investors waited for more clarity after the main opposition party named a hard-line former defence chief as its presidential candidate, to capitalise on public clamour for a decisive leader. ** The benchmark stock index ended down 0.43% at…
A stimulating discussion on how to harness technology to boost economies will take place at the Sri Lanka Economic Summit (SLES) 2019. The discussion will be led by two eminent experts in the field, Mr. Sanjay Jain, Partner at Bharat Innovation Fund & Chief Innovation Officer at CIIE, IIMA, and Mr Jan Metzger, Head of…
Different government agendas and policies have significantly influenced the motor industry , Chairman of Ideal Motors, Nalin Welgama said whilst addressing the Indian media during the inaugural ceremony of the Mahindra automotive assembly plant in Welipenna. “Sri Lanka’s car market is entirely policy driven. This is the problem we have. Each government has their own agendas…
Canadian YouTubers Luke Martin and Sabrina Davidson of Chopstick Travel are currently in Sri Lanka to promote tourism for the island, working directly with the Sri Lanka Tourism Promotion Bureau. An exciting opportunity for the tourism sector of Sri Lanka, Chopstick Travel boasts over 500,000 thousand globally diverse subscribers, over 92 million views on their…
