The Sri Lanka Shippers’ Council wishes to draw the attention of the Government of Sri Lanka to the serious difficulties faced by our members and the Private Sector at large, due to the prevailing foreign currency crisis. The impact of the foreign currency shortage has had a serious effect on the businesses in the country….
Summarised below are the key operational and financial highlights of our performance during the quarter under review: Group EBITDA recorded a significant increase of 126 per cent to Rs.9.53 billion during the quarter under review against the comparative period [2020/21 Q3: Rs.4.21 billion]. The Group’s businesses recorded strong growth in profitability compared to the third…
AFP – Supermarket shelves are bare and restaurants can’t serve meals, but Sri Lanka’s economic crisis is a bonanza for used car dealers, with vehicle shortages pushing prices higher than a house in a nice area. The island nation of 22 million is on the brink of bankruptcy, inflation is red hot and the government…
Hela Apparel Holdings (the holding company of the Hela Clothing Group) made history this month with the successful oversubscription of the largest initial public offering (IPO) in the past decade. The IPO, which sought to raise Rs. 4 billion through the issue of new shares, was oversubscribed by 5.4 times and received applications amounting to…
The International Monetary Fund lowered its economic forecasts for the United States, China and the global economy on Tuesday, and said uncertainty about the pandemic, inflation, supply disruptions and U.S. monetary tightening posed further risks. “We project global growth this year at 4.4%, 0.5 percentage point lower than previously forecast, mainly because of downgrades for…
Ends 2021 with 3 top awards and retains ‘AAA’ credit rating Commercial Bank Bangladesh, Commercial Bank of Ceylon’s largest overseas operation, has been adjudged the ‘Most Sustainable Bank in Bangladesh’ at the close of 2021, during which the Bank was named ‘Best Foreign Bank in Bangladesh’ by two independent bodies and retained its ‘AAA’ credit…
Minister of Trade of Sri Lanka, Dr. Bandula Gunawardhana and State Minister for Regional Cooperation, Mr. Tharaka Balasuriya paid a courtesy call on Honorable Prime Minister today. Dr. Gunawardhana and Mr. Balasuriya along with a Sri Lankan Business delegation are currently visiting Pakistan from 20-27 January 2022. Fondly recalling his visit to Sri Lanka in…
Navara Capital Ltd. are the financial advisors and issue managers for the IPO Luminex Limited a multifaceted engineering company with an unblemished record for 35 years of operations announced its plans to be listed on the CSE, subjected to regulatory approvals. Navara Capital limited have been appointed as the Financial Advisors and Managers to the…
Business Magnates, a meeting of the finest business minds organized by Hashtag Media powered by CIMA Sri Lanka, successfully concluded recently at The Kingsbury Colombo. This was the first edition of the Business Magnates series that aims to conduct progressive events focusing on different industries and areas of interest in the future. The event brought…
A special meeting was held on the 11th of January 2022 between the Palm Oil Association of Sri Lanka (POIASL) and Her Excellency, Dewi Gustina Tobing, Indonesia’s recently-appointed Ambassador to Sri Lanka. The present role of, and challenges faced by, the oil palm industry in Sri Lanka were discussed at the meeting, with the intention…
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