Category: Companies
Premier praises British Envoy’s efforts to promote UK-Sri Lanka ties
Prime Minister Dinesh Gunawardena thanked the outgoing High Commissioner of the United Kingdom Sarah Hulton for her persistent efforts to strengthen friendly relations between Sri Lanka and UK. He said this when the High Commissioner paid a farewell call on him at the Temple Trees Monday. The Prime Minister said that the untiring efforts of […]
Role of alternative financing mechanisms to address Sri Lanka’s debt overhang
By Imesha Dissanayake The common path followed by almost all IMF member countries in response to sovereign debt crises in recent decades, is to enter into an IMF supported stabilisation and structural adjustment programme. Sri Lanka has been a country that has followed this trend repetitively, having entered into 16 economic stabilisation programmes during 1965-2020, […]
BNI National Conference in Colombo honors members at awards ceremony
BNI Sri Lanka – the local branch of the world’s largest referral networking organisation, BNI (Business Network International) – is celebrating the success of its first ever large- scale event in the country. The National Conference titled “Building a global Sri Lanka. Networking the way forward,” was headlined by Founder & Chief Visionary Officer of […]
Dairy Association holds AGM: Call on fostering agreements, aligning goals, and mobilising industry
The fourth Annual General Meeting of the All Island Dairy Association (AIDA) was recently held at the Ceylon Chamber of Commerce premises in Colombo. The AIDA which is affiliated with the Ceylon Chamber of Commerce, and plays a pivotal role in representing the local dairy industry by fostering agreements, aligning goals, and mobilising the industry. […]
HNB, Hemas Holdings & SLT to be included in S&P SL 20 mid-year index rebalance
The Colombo Stock Exchange (CSE) announces the following change in S&P Sri Lanka 20 index constituents made by S&P Dow Jones Indices at the 2023 mid-year rebalance. The exclusion and inclusion as announced by S&P Dow Jones Indices, effective from 19th June 2023 (after the market close of 16th June 2023) are presented below. Exclusions […]
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 […]
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 […]
”; Outlook negative
Fitch Ratings has upgraded Sri Lanka-based Kotagala Plantations PLC’s National Long-Term Rating to ‘B+(lka)’, from ‘RD(lka)’. The Outlook is Negative. Fitch has simultaneously upgraded the National Long-Term Rating of Kotagala’s outstanding senior unsecured debentures to ‘B+(lka)’, from ‘C(lka)’. The upgrade reflects the completion of Kotagala’s debt restructuring process in May 2023. The Negative Outlook considers […]
MullenLowe Group launches LoweMedia: Appoints Sabry Haniz as VP and Director
Sri Lanka’s largest marketing communications group, The MullenLowe Group (MLG) launches LoweMedia on the 1st of June. LoweMedia becomes the 7th independently managed strategic vertical following the formation of the group’s six other strategic verticals. Today, MLG consists of MullenLowe (Mainstream advertising), LoweDigital (Social, Content and Paid Media) LoweActive (Brand Activation), LoweTech (Martech Services & […]
Ceylinco Life appoints new COO and Deputy COO
Executive Director/Deputy CFO Ranga Abeynayake becomes Chief Operating Officer General Manager – Marketing Samitha Hemachandra appointed Deputy COO Ceylinco Life has announced the appointments of Ranga Abeynayake and Samitha Hemachandra as Chief Operating Officer and Deputy Chief Operating Officer respectively, following the creation of the two positions as part of the Company’s leadership […]