Category: Economy and Markets
Colombo Consumer Price inflation increased to 4.1-pct in March with low base effect
Headline inflation, as measured by the year-on-year (Y-o-Y) change in the Colombo Consumer Price Index increased to 4.1 percent in March 2021 from 3.3 percent in February 2021. This was due to the statistical effect of the low base prevailed in March 2020, the Statistics Department said. Meanwhile, Food inflation (Y-o-Y) increased to 9.6 percent […]
‘s IPO draws Rs 25.7Bn worth applications
The WindForce Limited Initial Public Offering (IPO) of Rs.3.2 Bn, the largest IPO announced at the Colombo Stock Exchange (CSE) since 2011, has attracted applications amounting to a value of Rs 25.7 Bn, demonstrating the strong appetite for IPOs among investors in the Sri Lankan stock market. The company’s IPO for 202,615,341 shares at an […]
‘s first co-working space dedicated to mindfulness at work
Sri Lanka’s first coworking space dedicated to mindfulness at work, HomeTree Coworking, aims to re-invent pre-pandemic work culture by focusing on consciousness, community and co-creation in the new normal. Elaborating on HomeTree’s mantra for 2021, founder Semal Luthra noted that their vision was to re-invent how people work, create and connect in a post-pandemic world. […]
Fitch Ratings no longer provides ratings or analytical coverage of Ceat Kelani Holdings
The international credit rating agency, Fitch Ratings said that they no longer provide ratings or analytical coverage of Ceat Kelani Holdings. In a response to the publication of the private rating letter by Kelani Tyres PLC on 26 March 2021, the rating agency said that the previous rating was expired on 1 March 2021. Fitch […]
South Asian economies bounce back but face fragile recovery: World Bank
Prospects of an economic rebound in South Asia are firming up as growth is set to increase by 7.2 percent in 2021 and 4.4 percent in 2022, climbing from historic lows in 2020 and putting the region on a path to recovery. But growth is uneven and economic activity well below pre-COVID-19 estimates, as many […]
Vietnam to support investment and trade promotion in Sri Lanka
The newly appointed Ambassador of the Socialist Republic of Vietnam Ho Thi Thanh Truc to Sri Lanka presented her credentials to President Gotabaya Rajapaksa at the Presidential Palace yesterday (30). President Rajapaksa and the new Vietnamese Ambassador thereafter exchanged views on the current status of bilateral relations and the development of future cooperation between the […]
US-based Blackstone Group acquires 56.5-pct of Piramal Glass
US-based private equity major Blackstone Group has acquired a 56.5 percent stake of Piramal Glass Ceylon PLC. The acquisition price implies a total enterprise value of 13.9 billion rupees for the target company. Asia Securities Advisors (Pvt) Ltd. acted as the buy-side advisor and Asia Securities (Pvt) Ltd acted as the executing stockbroker to the […]
Dialog Axiata’s Genie reaches Rs.10Bn worth transactions by 2021
Powered by Dialog Axiata PLC (“Dialog”), Genie, Sri Lanka’s first PCI-DSS-certified payment app has cemented a major milestone moment on its journey in establishing itself as the biggest payment processing network in Sri Lanka through the achievement of over Rs. 10 billion worth transactions. With more and more customers falling reliant on smart devices, Genie […]
CEAT Kelani announces 125-pct increase truck bus radial tyre production
Phase 1 to see production increase of 65% Phase 2 to increase capacity by 125% by June CEAT Kelani Holdings has announced another significant increase in production that will more than double the number of Truck Bus Radial (TBR) tyres reaching the domestic market by June this year, further supporting the national effort to reduce […]
CBL Investments Limited wins ‘Best Corporate Citizen Sustainability Award 2020’
CBL Investments Limited (CBL Group) won the coveted ‘Best Corporate Citizen Sustainability Awards 2020 (BCCS Awards)’ at an annual event organized by the Ceylon Chamber of Commerce, the country’s premier business chamber to recognise sustainable champions of the local corporate world, while Aitken Spence PLC and Commercial Bank of Ceylon PLC became the first and […]
Sri Lanka vehicle registrations marginally up in Jan 2021
Total Vehicle registrations recorded 3,558 units in Feb marginally up from 3,256 units in Jan but significantly down from 31,402 units 12 months ago, a new report shows. “The main contributor for the increase was a higher number of hand tractors, a category that is not under an import ban and an uptick from locally […]
Project Company welcomes Cabinet approval to establish SEZ at Port City
The approval was granted at the cabinet meeting held on the 04th January 2021 to establish the Colombo Port City Special Economic Zone which will be an International business and services hub with specialized infrastructure facilities. Port City investor company, CHEC Port City Colombo (Pvt) Ltd. welcomes the Government’s move and expects this initiative will […]