Author: lbostgadmin
‘s outstanding bill to Iran by exporting Ceylon Tea
Sri Lanka’s Plantation Ministry and the Ministry of Industries, Mines and Trade of Iran agree to formulate a scheme for the settlement of a sum of US$ 250,925,169 outstanding from Ceylon Petroleum Corporation to National Iranian Oil Company by means of utilizing the said sum to facilitate the export of Ceylon Tea to Iran by […]
Hela Apparel Holdings set for landmark IPO
The Colombo Stock Exchange has formally approved the Initial Public Offering (IPO) of Hela Apparel Holdings Limited (the holding company of the Hela Clothing Group), with the offer set to open on Wednesday 12th January. This highly anticipated IPO, by one of Sri Lanka’s leading social-capital focused apparel supply chain solution providers, will see 267,108,998 […]
Intensive Care Unit at Udugama Hospital opens to public soon
Watawala Plantation Limited announces the opening of its newly built fully equipped Intensive Care Unit at the Udugama Base Hospital in the Galle District under the guidance of the Ministry of Health, which will be open to the Public at the auspicious time on Wednesday, December 22, 2021. The project led by Watawala Plantations Ltd […]
Aitken Spence Travels welcomes its first familiarization group from France
Aitken Spence Travels, in collaboration with SriLankan Airlines and TUI France, recently hosted a group of top travel agents on a familiarization visit to Sri Lanka with the commencement of direct flights to Paris, France. The direct flight option that is now available, is a welcoming move for French tourists who loves Sri Lanka as […]
ADB partners with JKH to boost food value chains and farm livelihoods in SL
The Asian Development Bank (ADB) entered into an agreement to invest up to $80 million (in Sri Lanka rupee equivalent) in John Keells Holdings PLC (JKH) to boost the country’s food value chain and promote economic growth and job creation. The investment will be a two-phase private placement to support the expansion of JKH’s modern retail and distribution […]
Co-operative Insurance opens Initial Public Offering
Leading Sri Lankan insurer Co-operative Insurance, recently announced the date of their Initial Public Offering (IPO), which is set to take place on the 20th of December, 2021. The IPO will be managed by the Merchant Bank of Sri Lanka. Affirming its financial strength, the company, which secured a strong financial performance for the past […]
Sri Lanka’s IT solution provider NCINGA empowers Telecom Fiji
NCINGA (Pvt) Ltd, one of Sri Lanka’s leading IT solution providers, continues to advance the emerging markets in the telecommunications industry, acting as a powerful force behind the Infrastructure development of Telecom Fiji in the Fiji islands, located in the Pacific Ocean. The leading Sri Lankan IT firm has levelled up its partnership with Telecom […]
Listed Companies welcome opportunity to hear about new SEC Act directly from Regulator
The Securities and Exchange Commission of Sri Lanka (SEC) and the Colombo Stock Exchange (CSE) organized a symposium on 6th December 2021 to enlighten senior officials of listed companies on the features of the new Securities and Exchange Commission Act No. 19 of 2021. SEC Media Release The SEC Chairman Mr. Viraj Dayaratne PC delivered […]
Sri Lanka disputes rating downgrade by Fitch Ratings
Downgrading Sri Lanka’s international sovereign rating resembles the recent unwarranted downgrade by Moody’s Investors Service a few days prior to the announcement of the National Budget 2022, Sri Lanka’s Central Bank said. Releasing a statement the bank said the sense of urgency on the part of an internationally recognised rating agency to downgrade Sri Lanka […]
Black, White & Grey Markets: Dynamics of Foreign Exchange & Remittances in Sri Lanka
By Bilesha Weeraratne: Written Ahead of International Migrants’ Day on December 18, 2021. Despite the pandemic and related difficulties in remitting, remittances to Sri Lanka had picked up by December 2020 to record year-over-year growth of 5.8 %, contrary to all expectations. The reasons for such a quick rebound include catching up on postponed remittances, […]
VIDEO: How Bad Can Inflation Be? Turkey Offers a Warning
As the Federal Reserve and other central banks around the world deal with rising inflation amid the economic recovery from the pandemic, Turkey – where the rate is currently over 20% – offers a warning. Soaring inflation has led to economic turmoil after years of broad growth.
LOLC General Insurance Limited IPO oversubscribed on opening day
The Initial Public Offering (IPO) of LOLC General Insurance Limited, through an Offer for Sale of 120,000,000 Ordinary Voting Shares at a price of Rs. 7.90 per Share, which opened yesterday (16th December 2021) was oversubscribed on the initial day itself. The IPO by LOLC General Insurance Limited received applications for over the IPO value […]