The Bangladesh Bank board on Sunday approved in principle a draft $200-million currency swap deal with Sri Lanka, which is struggling to maintain a moderate foreign exchange reserve. The currency swap agreement would be finalised after getting a legal vetting approved by the government, BB officials told New Age after the meeting. BB governor Fazle…
The Group witnessed a faster than anticipated recovery momentum with the performance of most businesses reaching pre COVID-19 levels with business activity and consumer trends being near normal by the end of the financial Excluding Leisure, Group revenue increased by 17% to 36.15 billion in Q4; up 1% to Rs.122.32 billion in 2020/21. Excluding Leisure,…
Headline inflation, as measured by the year-on-year (Y-o-Y) change in the National Consumer Price Index (NCPI, 2013=100), increased to 5.5 per cent in April 2021 from 5.1 per cent in March 2021. This was mainly due to the statistical effect of the low base prevailed in April 2020. Meanwhile, Food inflation (Y-o-Y) increased to 9.7…
Reuters – Bitcoin fell 13% on Sunday after the world’s biggest and best-known cryptocurrency suffered another sell-off that left it down nearly 50% from the year’s high. Bitcoin fell to $32,601 at 1800 GMT (2 p.m. ET), losing $4,899.54 from its previous close. It hit a high for the year of $64,895.22 on April 14. Ether…
Regarding recent reports surrounding the closure of one its facilities in Thulhiriya, MAS reiterates that the company is proactively working with the Government Health Authorities in a transparent and cooperative manner. The facility was closed by MAS based on PCR test results revealing 380 positive employees at the plant, while 1,505 employees tested negative in…
Signs share sale & purchase agreement to acquire 92.5% of Fairway Waste Management Plant will convert 500 MT of waste to energy daily to generate 10 MW of electricity to the National Grid Sri Lanka’s largest publicly listed power company WindForce Ltd. aims to fast-track the development of the Karadiyana Waste to Energy Power Plant,…
In its continued efforts to support affected communities in their hour of need, Dialog Axiata PLC, Sri Lanka’s premier connectivity provider, partnered with TV Derana to launch the 3rd rendition of the ‘Dialog with Manusath Derana’ initiative to provide relief to hospitals and affected families in areas under lockdown. This nationwide response initiative is part…
Financial Year 2020/21 – Full Year Performance Chief Executive Officer’s Review Hemas Holdings PLC (HHL) placed on record a resilient performance by delivering another strong quarter. Home and Personal Care (HPC) and Learning segment represented by Atlas along with Healthcare were the significant contributors to the robust performance. HHL recorded a Group revenue of Rs.16.6…
CNBC – Bitcoin’s price tumbled Friday (21) following an intensified call from Chinese authorities to crack down on mining and trading of the cryptocurrency. Chinese Vice Premier Liu He and the State Council said in a statement that tighter regulation is needed to protect the financial system. The statement, released late Friday in China, said…
Sri Lanka Investment Forum – 50+ Sessions – 3 Days – Two Time Zones Sri Lanka Investment Forum (SLIF) 2021, the first and largest Virtual Investor Forum in the region, is set to draw participation from Portfolio and Direct investors from across the globe. SLIF 2021 will be held from 7th to 9th June 2021…
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