Category: Companies
PM Mahinda meets with Omani investors
Prime Minister Mahinda Rajapaksa met with an Omani investors delegation from Shumookh Investment and Services SAOC which is the investment arm of Madayn – The Public Establishment for Industrial Estates of the Sultanate of Oman, at Temple Trees on 21 June, 2021 in Colombo. The Omani delegation comprised of Ambassador of Oman to Sri Lanka Al-Sheikh Jumah Hamdan Al-Shehhi, […]
Risks for Sri Lankan Banks May Rise on End of Restriction on ISB Investments: Fitch Ratings
The end of the suspension on Sri Lankan banks’ investments in international sovereign bonds (ISBs) issued by the Sri Lanka sovereign (CCC) has the potential to increase banks’ exposure to sovereign and foreign-currency funding and liquidity risks, says Fitch Ratings. Banks’ credit profiles are already significantly exposed to the sovereign, with Fitch-rated Sri Lankan banks […]
Creating an inclusive National Tourism Policy for SL: Transforming sector one question at a time
Mapping the future of the tourism sector in Sri Lanka is vital for the country’s economic recovery post COVID-19. In line with this, the Ministry of Tourism initiated a process to develop a National Tourism Policy for Sri Lanka early this year. The outlines of the policy have been discussed with the Ministry of Tourism, […]
Opinion:Negative effects of organic manure for Sri Lanka’s entire tea industry
I.D. Gooneratne Former Director of J.E.D.B, III Regional Agricultural advisor to 20 tea estates Consultant, functioned as Deputy Director, Extension Services of the TRI Advisor, Tea Manufacturing, John Keells Ltd for 6 years. With my experience, based on 45 years of hands-on, direct experience in the tea industry, I wish to issue a dire warning […]
Sri Lanka records USD 884Mn exports in May 2021
Sri Lanka’s export sector performance has been able to manage its growth momentum in May 2021 with the challenges of the Covid-19 pandemic. As per the statistics released by Sri Lanka Customs, Sri Lanka’s merchandise exports in May 2021 were US$ 884.2 Million, an increase of 50.71% over US$ 586.7 Million in May 2020. Sri […]
‘ Association appeals for cost-sharing from Business Partners
The Sri Lanka Retailers’ Association (SLRA), the apex body for organised retail in Sri Lanka, issued a communique requesting landlords, lessors, and business partners reduce leases and rentals for the Association’s membership. • Lease and Rental Reductions • Support towards loan repayments restructure • Utility and trade levy reduction/postponement SLRA President Murali Prakash appealed to […]
CSE to introduce Delivery Vs. Payment mechanism to Sri Lankan Stock Market
The Securities and Exchange Commission of Sri Lanka (SEC) and the Colombo Stock Exchange (CSE) announce the introduction of a Delivery vs Payment (DVP) system for stock market transactions. The Go Live is scheduled for 26th July 2021 subject to a final round of testing and industry wide mock runs. The objective of introducing a […]
CSE announces changes in S&P SL20 at mid-year index rebalance
The Colombo Stock Exchange (CSE) announces the following changes in S&P Sri Lanka 20 index constituents made by S&P Dow Jones Indices at the 2021 mid-year index rebalance. The exclusions and inclusions as announced by S&P Dow Jones Indices, effective from 21st June 2021 (after the market close of 18th June 2021) are presented below […]
Sri Lanka seeks collaboration on Graphene applications with Russian Company
The State Ministry of Regional Cooperation, recognizing the potential of Sri Lanka’s natural resources to contribute to the country’s economy, has been facilitating to explore means by which the country could sustainably harness minerals for Sri Lanka’s economic growth. Cognizant of the significance of this initiative, the Ambassador of Sri Lanka to Russia, Prof. M.D. […]
Travel restrictions to be relaxed from June 21st: Inter-provincial restrictions to remain
Inter-provincial travel restrictions to remain… Permission to conduct last rites on non-COVID 19 deaths within 24 hours… It has been decided to relax travel restrictions from 4 am on the 21st of June. However, President Gotabaya Rajapaksa instructed the officials not to relax the inter-provincial travel restrictions. Travel restrictions will be re-imposed and continue from […]
Sampath Bank concludes Rs.750Mn structuring & investing in LVL Energy Fund’s unlisted bond
Sampath Bank PLC announced that it had recently concluded the structuring and investment of an unquoted, secured, non-convertible, deep-discounted bond issuance for LVL Energy Fund PLC. The Rs.750 million instrument was tailor-made by Sampath Bank’s Corporate Finance Unit to suit the unique characteristics and financing needs of LVL Energy Fund PLC. Sampath Bank was the […]
Indian assistance to promote solar power project
Measures have been taken to increase the contribution by renewable energy sources to the national power grid by enhancing solar power generation as per the National Policy Framework ‘Vistas of Prosperity and Splendour.’A key plan of the Government is to generate solar power by obtaining the contribution of state-owned buildings, places of worship and houses […]