Category: Companies
MAS Holdings’ calls for immediate and decisive action to resolve the current crisis
MAS Holdings, one of Sri Lanka’s largest private sector employers and exporters reiterates the need for immediate and decisive action to resolve the current economic and social crisis, in a peaceful and sustainable manner. Issuing a statement the organization said “Given the ensuing events, MAS as a responsible organization, unconditionally support the call for change […]
Bangladesh and Sri Lanka explore new investments and Blue economy potential
High Commissioner Professor Sudharshan Seneviratne drew home the importance of the tremendous potential both countries hold to work jointly towards a win-win situation on multiple areas of investments and be joint stakeholders in the blue economy having a shared interest in the Bay of Bengal. These ideas were discussed at a meeting held with the President […]
Manufacturing PMI increased month-on-month basis at slower rate
Following the seasonal pattern in manufacturing activities, the manufacturing PMI increased on a month-on-month basis to an index value of 57.8, yet at a slower rate than the previous years. This increase was mainly attributable to the improvements observed in production, new orders and employment sub-indices following the seasonal demand. The increase observed in new […]
Colombo Stock Brokers Association defends the decision by SEC to temporarily close down CSE
Colombo Stock Brokers Association (CSBA) defends the decision by the Securities and Exchange Commission of Sri Lanka (SEC) to temporarily close down the Colombo Stock Exchange (CSE) for 5 business days as a warranted measure, considering the prevailing economic crisis in the country as well as the disruptions faced by traders in conducting day to […]
SEC directs CSE to temporarily close stock market; CCC requests SEC to reconsider decision
The Ceylon Chamber of Commerce requests the Chairman of the Securities and Exchange Commission to reconsider the decision to direct the CSE to temporarily close the stock market for a period of five business days commencing from 18th April. “This action will be seen by market participants as akin to the unsuccessful attempt made to […]
How is an economic crisis affecting people?
People across Sri Lanka are struggling to get hold of daily essentials as the country faces its worst economic crisis in decades. Sri Lanka is mired in public debt after revenue from tourism evaporated in the wake of the coronavirus pandemic. With the country’s foreign currency reserves dwindling and foreign debt payments around the corner, […]
JAAF demands immediate solutions, end to Government’s procrastination
In a recent statement, the apparel industry has urged all stakeholders to put aside differences and work together to resolve the current crisis, which has imposed severe hardships on people and hampered the economy. If the current macroeconomic crisis continues for longer without taking urgent action to address it, the social and economic consequences imposed […]
Bangladesh corporate sector ready to expand economic cooperation with Sri Lanka
Sri Lanka High Commissioner to Bangladesh said that profound historical and cultural relations have lasted between Sri Lanka and Bangladesh and it is time to deepen the economic cooperation between the two countries. High Commissioner Professor Sudharshan Seneviratne highlighted the idea at a meeting held with the President of the Federation of Bangladesh Chamber of […]
SLIBTEC, USAID to establish SL’s first ‘Biotechnology Innovation Park’
The Sri Lanka Institute of Biotechnology (SLIBTEC) will collaborate with the U. S. Government’s development arm, the U. S. Agency for International Development (USAID), to promote innovation in the biotechnology sector by establishing Sri Lanka’s first Biotechnology Innovation Park. The SLIBTEC Biotechnology Innovation Park will be a 13.2-acre facility in Pitipana, Homogama that will house […]
LAN channels Rs.150Mn into tech startups: Currently evaluating 5-10 startups
Sri Lanka’s first Angel Fund has, to date, channelled investments up to Rs. 150 Million cumulatively into four home-grown startups – Niftron, Magicbit, Mintpay & Chakra Suthra – while also helping these companies scale and access new markets both at home and abroad. “Since August 2020, our team has evaluated over 400 startups from across […]
US Under Sec for Political Affairs promises assistance to develop cyber & information technology sectors
The Under Secretary of State for Political Affairs Victoria Nuland called on President Gotabaya Rajapaksa at the Presidential Secretariat, Wednesday. The President briefed Ms. Nuland on the issues raised at the All-Party Conference this morning, its progress, and the discussion to be held with the Tamil National Alliance on Friday. Appreciating these efforts, the Under […]
CA Sri Lanka launches exclusive global credential for finance professionals to fight fraud
In a ground-breaking initiative aimed at combatting fraud and corruption, the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) joined hands with the US-based Association of Certified Fraud Examiners (ACFE) to launch an exclusive global credential for finance professionals in Sri Lanka. The Certified Fraud Examiner qualification, recognised globally as the most contemporary […]