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Hemas Strengthens Presence in Consumer Brands Space, Acquires Remaining Stake in Atlas
Hemas recently announced the acquisition of a 24.9% stake of Atlas Axillia Company (Private) Ltd, for a total consideration of Rs.3.4Bn. With this strategic move, the Group now owns 100% of Atlas Axillia Company (Private) Limited, expanding its market presence and reinforcing its position as a key player in the Consumer Brands Sector. “Atlas […]
TISL takes bribery & corruption allegations surrounding X-Press Pearl Disaster to Supreme Court
Transparency International Sri Lanka (TISL) filed a petition in the Supreme Court yesterday (June 12), seeking to intervene in the ongoing Fundamental Rights case (SC/FR/Application No.168/2021) filed by the Center for Environmental Justice (CEJ) and three more petitioners, highlighting the serious allegations of bribery and corruption surrounding the X-Press Pearl disaster. The intervention petition is […]
Queen of the World Sri Lanka – Discovering the Unseen Power within Sri Lankan Women
Sri Lanka is gearing up to witness a remarkable celebration of the strong spirit and hidden potential of its women. The Queen of the World Pageant, scheduled to take place at the prestigious Nelum Pokuna Theatre on the 22nd of September 2023, aims to unleash the unseen power within Sri Lankan women and showcase their […]
Opinion: China Helps Sri Lanka’s Aspiration to Become a Major Logistics Hub in The Region
By Maya Majueran Sri Lanka is an island nation situated in a strategically important location in the Indian Ocean Region at the center of maritime trade routes in between East and West, as well as in the middle of Africa, the Arab, and Eastern worlds and is surrounded by the Bay of Bengal and the […]
99x expands global reach to set up technology centre in Malaysia
99x commenced operations at its technology centre in Malaysia, as part of its global expansion strategy. The technology centre was recently recognized with the Malaysia Digital status by the Malaysia Digital Economy Corporation (MDEC) as a contributor towards the Malaysian digital ecosystem.99x also intends to collaborate with leading tech universities to build digital product engineering […]
Former Telecom Regulatory Chief Asserts Privatizing Telecom Industry Poses No Threat to National Security
Privatization of the telecom industry does not pose a threat to national security, according to Professor Rohan Samarajeeva, former Director General of the Telecommunications Regulatory Commission. During his participation in the President’s Media Division’s ‘101 Katha’ program, Professor Samarajeeva expressed his opinion regarding the Sectorial Oversight Committee’s report on National Security, stating that it relies […]
Plantation sector to see growth in Q2 amid labour issues: Report
The Research Intelligence Unit, a multi sectoral research consultancy says plantation companies are very optimistic about the revoking of the ban imposed on the usage of chemical fertiliser and see it as the ex-factor for a production boost in 2023, as compared with 2022. The companies consider labour as a crucial element of their business […]
SL Rupee depreciates against USD
The Sri Lankan Rupee (LKR) has depreciated against the US Dollar (USD) today compared to last week, according to the Central Bank of Sri Lanka. Accordingly, today’s buying rate of USD is Rs 290.06 while the selling rate is Rs. 303.73. Last Friday’s buying rate of USD was Rs. 288.08 while the selling rate was […]
Sri Lanka PM Dinesh Gunawardena concludes successful visit to Thailand
Prime Minister Dinesh Gunawardena of Sri Lanka concluded a three day successful official visit to the Kingdom of Thailand from 31 May – 02 June 2023, at the invitation of the Rector of Mahachulalongkornrajavidyalaya University, Secretary General of International Council for the Day of Vesak (ICDV) and Executive Secretary of International Association of Buddhist Universities, […]
Eran submits VAT amendment bill to restore Parliamentary powers on public finance
Opposition MP Eran Wickramaratne submitted a private members Bill to amend the Value Added Tax (VAT) Act, No 14 of 2002 to transfer the powers vested in the Minister of Finance to Parliament, Friday. The new bill proposes that any order made by the Minister of Finance shall come into force only upon the approval […]