The Chinese travel market is one of the top ten markets for Sri Lanka, China is a market which consists of high spending tourists who are keen to have a travel experience which is worth their expenditure, and Sri Lanka is one such destination which caters to their holiday and travel requirements at all times….
Headline inflation as measured by the year-on-year change in the National Consumer Price Index (NCPI, 2013=100) decreased to 4.1 per cent in November 2019 from 5.6 per cent in October 2019 contributed by the statistical effect of the high base prevailed in November 2018. Year-on-year (Y-o-Y) Food inflation decreased substantially to 4.0 per cent in…
Colombo Dockyard PLC (CDPLC) has successfully entered into a contract with Kowa Company Ltd (KOWA) of Japan to supply a pilot boat. The contract was signed on 16th of December 2019 at CDPLC Head Office. Mr. Kazushige Nishiguchi, Department Manager – Ship & Infrastructure Department of KOWA and Mr. Hideaki Tanaka, Chairman of CDPLC signed the…
Fitch has revised the Outlook on Ceylon Electricity Board’s (CEB) National Long-Term Rating to Negative from Stable and has affirmed the rating at ‘AA+(lka)’. The Outlook revision follows the Outlook revision on Sri Lanka’s ‘B’ Long-Term Foreign-Currency Issuer Default Rating (IDR) to Negative from Stable; see fitchratings.com/site/pr/10105494 for details. The rating on CEB, which is fully state…
With digitization expected to have profound implications on Small and Medium Sized Practices (SMPs), the South Asian Federation of Accountants (SAFA) together with the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) and the Institute of Certified Management Accountants of Sri Lanka (CMA Sri Lanka) launched the Digital Competency Maturity Model (DCMM) in…
Sri Lankan SME sector rejoiced the latest initiative by the new government to suspend recovery of loans obtained by them. The Confederation of Micro, Small and Medium Industries (COSMI) representing the SMEs promptly heaped its praise on the new government for its speedier action to revive domestic SMEs and SME paddy millers through its December…
President Gotabaya Rajapaksa and the Prime Minister Mahinda Rajapaksa who is also the minister of Finance, economy and Policy development have issued directives to Chairmen and CEOs of all banks to suspend recovery of loans obtained by the SME sector. The Government has taken a decision to take up new initiative to revive SMEs of…
Former Deputy Chairman of Bogawantalawa Tea Estates PLC, Mr. Jayampathy Molligoda, has been appointed as the Chairman of the Sri Lanka Tea Board. He takes over the reigns from former Tea Board chairman Lucille Wijewardena. Mr. Molligoda counts over thirty nine years of executive experience in the fields of Financial Management, Strategic Planning & Human…
The Colombo Stock Exchange (CSE) announces the following changes in S&P Sri Lanka 20 index constituents made by S&P Dow Jones Indices at the 2019 year-end index rebalance. A revision of the S&P SL 20 methodology in March 2017 established the practice of a semiannual rebalance of the index (previously conducted annually), which is set…
A consortium of investors put together by Tempest PE Partners (Pvt) Ltd has acquired a 75% stake in specialist cable manufacturer Cable Solutions (Private) Limited (“CSOL”) from three of its foreign shareholders for Rs 710 mil. The transaction was completed subsequent to an internal restructuring whereby CSOL’s enterprise value was pegged at over USD 7…
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