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Ex-Pack IPO oversubscribed, Highest in recent times
Ex-Pack Corrugated Cartons Limited’s LKR 700 million IPO, witnessed 6,000+ applicants seeking to subscribe, resulting in an 11X oversubscription. This is the highest rate of oversubscription witnessed by any recent IPO, making it the highest subscribed IPO for 2021. The IPO, which opened on the 22nd of October 2021, was oversubscribed in a matter of […]
SL, WB partner for safe, climate-resilient transport connectivity and strong agricultural supply chains
The Government of Sri Lanka and the World Bank signed a $500 million financing agreement to provide safe, efficient and climate resilient connectivity to strengthen agricultural supply chains through the Inclusive Connectivity and Development Project. This project is expected to benefit around 16 million people living in rural communities in selected districts of Sri Lanka. Sajith […]
CBSL creates new department to facilitate &’ remittances
Sri Lanka’s Central Bank has established a new department named “Foreign Remittances Facilitation Department” (FRFD) to facilitate and streamline workers’ remittances inflows to the country, under the provisions of the Monetary Law Act No. 58 of 1949. Workers’ remittances have been a key pillar of Sri Lanka’s foreign currency earnings that has nearly 100 percent […]
Call for Chartered Accountants to build on position of trust & lead on future challenges
The Chartered Accountancy profession must use its position of trust to act on tackling the challenges of the recovery after Covid-19 and on building towards a sustainable future. This was the call from an event with panelists across the world, held to launch results of a survey into international business leaders’ trust in Chartered Accountants. […]
Germany pledges to convert Euro 13mn Loan into a Grant for completing New Maternity Hospital
Strengthening the long standing close partnership between the Government of Germany and the Government of Sri Lanka, German Government proposed to convert the supplementary loan obtained from the German KfW bank for completing the New Maternity Hospital (Teaching) Galle into a grant. Accordingly, Secretary to the Ministry of Finance, S R Attygalle, Head of Division, […]
A non-traditional budget will be presented this time: PB Jayasundera
Secretary to the President P. B. Jayasundera said that he believes a budget with a new vision and programme that goes beyond the traditional budget will be presented to the country this time. The Secretary to the President said that the priority will be given to the fields of green economy, renewable energy, information technology […]
“JKH Group Q2 EBITDA records growth of 93-Pct; significant turnaround in Leisure sector business
Summarised below are the key operational and financial highlights of our performance during the quarter under review: • Group EBITDA recorded a significant improvement to Rs.6.41 billion during the quarter under review, which is a 93 per cent increase against the comparative period [2020/21 Q2: Rs.3.32 billion]. • The Group’s businesses, except for Consumer Foods […]
Standard Chartered Sri Lanka globally recognised for gender equality with EDGE Certification
Standard Chartered Sri Lanka has been certified at the second highest level of the three-tiered Economic Dividends for Gender Equality (EDGE) Certification – “Move: Showcasing Progress”, marking a first for Sri Lanka. The Bank’s EDGE Certification, the process of which was supported by the International Finance Corporation (IFC) under the IFC-DFAT Women in Work programme, […]
EVENTS: Sri Lanka Economic Summit “Charting a Path towards a Technology Hub”
The upcoming Sri Lanka Economic Summit 2021, the foremost economic event of Sri Lanka is prepared to host a lineup of contemporary dialogues under this year’s theme ‘Springboard for revival: Opportunity to reset’. Day two of the event will feature a session dedicated to ‘Charting a Path towards a Technology Hub’ on 7th December, 2021. […]
Expolanka achieves record 1st half FY 2021/22 performance
Announcing its financial results for the 2nd quarter of the financial year, Expolanka Holdings PLC once again reported exceptional results driven by the continued growth of its Logistics business. For the quarter ended 30 September 2021 (Q221), Expolanka recorded a Profit After Tax of Rs 12 Bn, at a 166% increase Year on Year (YoY). […]