Author: lbostgadmin
Brandix sustainability summit calls for net-zero carbon future
Brandix hosted its inaugural Sustainability Summit on the 4th of June, in celebration of World Environment Day 2021 on 5th June. The summit focused on the theme ‘Towards a Net Zero Future – Translating Targets to Action’, providing a platform for key stakeholders to explore the business case for accelerating action in line with the […]
IFC invests $5 mn in Sunshine Holdings to help diversify business operations in Sri Lanka
Consumers in Sri Lanka are set to benefit from a new $5 million investment by IFC to Sunshine Consumer Lanka Ltd, a subsidiary of Sunshine Holdings PLC (Group), with a greater number of food products on offer and moves to adopt international food safety standards. The move marks IFC’s first local currency investment in Sri […]
CSE reports highest quarterly earnings surpassing LKR 100bn milestone: Softlogic Research
The CSE witnessed another landmark, as reported earnings crossed the LKR 100bn mark for the first time in the history of the CSE during the first quarter of the calendar year 2021. The growth is a monumental 189% YoY growth compared to the corresponding quarter the previous year. Recording its best quarterly earnings performance in […]
Ceylon Petroleum Corporation to build new storage facility at Hambantota International Port
The Ceylon Petroleum Corporation (CPC) signed a Memorandum of Understanding with the Hambantota International Port Group (HIPG), last week to develop Hambantota Port as a strategic energy center in Sri Lanka. The signing ceremony was held at the Ministry of Energy, with top officials of CPC and HIPG participating. A separate storage terminal with associated […]
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Fitch Ratings has affirmed Sri Lanka’s Long-Term Foreign-Currency Issuer Default Rating (IDR) at ‘CCC’. KEY RATING DRIVERS: Sri Lanka’s ‘CCC’ rating reflects a challenging foreign-currency sovereign external debt repayment burden over the medium term, low foreign-exchange reserves and high and rising government debt that gives rise to sustainability risks. External liquidity pressures have eased somewhat […]
Standard Chartered facilitates a trade loan to import 4 million COVID-19 vaccine doses for SPC
Standard Chartered Sri Lanka has successfully financed the import of 4 million COVID-19 vaccine doses for the State Pharmaceuticals Corporation by facilitating a trade loan to the Bank of Ceylon and People’s Bank, the Bank announced recently. In efforts to expedite the nation’s vaccination programme during the latest wave of the COVID-19 pandemic, Standard Chartered […]
New Supreme Court Judge and New President of Court of Appeal sworn in
The President of the Court of Appeal, Justice Arjuna Obeysekera, was sworn in as a Supreme Court Judge before President Gotabaya Rajapaksa at the Presidential Secretariat this morning (14). Court of Appeal Judge Priyantha Fernando was sworn in as the new President of the Court of Appeal and former High Court Judge Shashi Mahendra was […]
VIDEO: How does the hawala system work?
Governments are trying to cripple Islamic State finances. A hard task because it uses an ancient payment system known as hawala. It’s illegal in many countries but actually widespread.Here’s just one example of how it works in every-day business.
Orient Finance records threefold increase in net operating income
Orient Finance PLC reported a profit before tax of LKR 193 Mn for the 2020-21 financial year, reflecting a year-over-year growth of 144 per cent. The company’s net operating income also increased 148 per cent from LKR 0.47 Bn to LKR 1.17 Bn during the year under review. This performance was despite the Company foregoing […]
Luxury SUVs for MPs while imports for doctors, general public held indefinitely: CMTA
The Ceylon Motor Traders Association (CMTA) has expressed its concerns on the decision the Government has taken to import 400 vehicles – including 227 luxury SUVs – to a value of Rs. 3.7 billion through the Bank of Ceylon. The Government reversed its earlier decision to cancel the order, citing the fact that the Letters […]
YouTube releases its own version of Tik Tok, YouTube Shorts
YouTube Shorts give you a new way to watch, discover and create short content using nothing but your phone. We’ll walk you through what Shorts are, why you should use them, how to create a Short, and some best practices for using them.
US Provides Humanitarian Assistance to Sri Lankans Affected by MV X-Press Pearl Fire
The American people are providing $100,000 in immediate assistance to support response efforts to the MV X-Press Pearl ship fire. The MV X-Press Pearl has discharged plastic debris and chemical waste into the surrounding waters, endangering coastal resources and the livelihoods of nearby fishing communities. The assistance will deliver immediate support to families whose livelihoods […]