The Ceylon Dollar Bond Fund that invests exclusively in Sri Lankan government issued International Sovereign Bonds (ISB), and SLDBs reported a strong US$ performance of 10.3% in 2019 to investors, while the fund size reached US$ 23 million as at 31 December, 2019, according to Ceylon Asset Management Managing Director, Dulindra Fernando. The January 2020…
A proposal has been presented by Sri Lanka Ports Authority to set up a Closed Circuit Television Camera (CCTV ) System to observe, supervise and record all the activities of all entrances to the port premises, Warehouses, Open Terminal Storage Areas, Boarder Fences, Port Breakwater Entrances. This will enhance the safety of the port and increase…
The Cabinet of Ministers has given clearance to Kahatagaha Graphite to seek an investor to add value to its production. Accordingly, Minister of Industries and Supply Chain Management Wimal Weerawansa has proposed to call competitive bids to find a partner to add value to the mined graphite. Kahatagaha Graphite Lanka Limited is a company fully…
Teejay Lanka PLC has reported profit before tax of Rs 2.364 billion at Group level for the nine months ending 31st December 2019, an improvement of 56% over the corresponding period of the previous year. Sales for the period grew by 15% to Rs 26.3 billion the Company said, with revenue for the 3rd quarter…
SriLankan Airlines is strengthening its presence in the U.S. and European markets through the expansion of its existing codeshare agreement with Qatar Airways, with additional connections to serve various cities in these regions. Vipula Gunatilleka, Group Chief Executive Officer of SriLankan Airlines said: “The expansion of our partnership with Qatar Airways is an important element…
Litro Gas Lanka Ltd., a state-owned company, is the Liquid Petroleum Gas supplier with a market share of 75% of Sri Lanka’s liquid petroleum consumers. Accordingly, the Cabinet of Ministers approved the proposal presented by Minister of Finance, Economy and Policy Development to award the contract of purchasing 740,000 litres of Liquid Petroleum Gas for…
Orana, one of the world’s largest Denmark suppliers supplying raw materials related to fruit processed will sign an agreement with Sri Lanka’s Industrial Development Board to set up a US $1.5 million fruit processing plant in Sri Lanka. Accordingly, the proposal made by the Minister of Industry and Supply Management, to provide a 02-acre block of land…
IFS, the global enterprise applications company, is expanding its business operations in South Asia including Sri Lanka, Bangladesh and Pakistan. A leading provider of Enterprise Resource Planning (ERP), Enterprise Asset Management (EAM), and Field Service Management (FSM) solutions, IFS serves many of the market leading enterprises in sectors such as manufacturing, construction, automotive, food and…
The Government has instructed a repay of Withholding Tax (WHT) and Pay As You Earn Tax (PAYE ) deducted from January 01, 2020, to the respective persons (employees, deposit holders or any other persons). This was announced by the Inland Revenue Department (IRD) yesterday(5). Full notice as follows; As instructed by the Ministry of Finance on January 31,…
The Colombo Stock Exchange (CSE) yesterday (5) instructed all listed companies to immediately notify them, in writing, regarding any changes to the composition of remuneration and audit committees with effect from 01 march 2020. In terms of the CSE listing rules, listed companies are which are non- compliant with the corporate governance rules, specifically on…
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