Category: Industry
B2B meeting to boost Sri Lankan exports of fruits & vegetables to Oman
Sri Lanka Embassy in Oman jointly with the Sri Lanka Export Development Board, organised a virtual B2B meeting between Carrefour Oman and eight prominent Sri Lankan fruits and vegetables exporter companies, to boost Sri Lankan exports of varieties of fruits and vegetables to Carrefour Oman hypermarket chain which has more than 12 outlets in the […]
Central Bank suspends business of Swarnamahal Financial Services
The Monetary Board of the Central Bank has decided to suspend the business of Swarnamahal Financial Services PLC (SFSP) with effect from today. Having considered the continuously deteriorating financial condition and non-availability of a viable revival plan, the Monetary Board decided to suspend the business of SFSP and its parent Company ETI Finance Limited with […]
Singapore Airlines to increase flight frequency to Sri Lanka
Singapore Airlines will increase its flight frequency to Sri Lanka from 3 times to 5 times weekly, from 01 May 2021, operating the Airbus 350-900MH aircraft. Singapore Airlines has continued to adjust its global network capacity to meet passengers’ needs. With this increase in frequency, over 50% of SIA capacity into Sri Lanka will be […]
WB says as SL should focus on competitiveness and debt sustainability to ensure resilient rebound
Despite the heavy toll of the COVID-19 pandemic on Sri Lanka’s economy and the lives of its people, the economy will recover in 2021, though challenges remain, says the latest World Bank Sri Lanka Development Update: Economic and Poverty Impact of COVID-19 released today. The Sri Lanka Development Update (SLDU) notes that the country, hit with an unprecedented economic […]
PROVIDORE, Sri Lanka’s newest grocery tech platform, partners with EFutures – to leverage companywide operations as well as customer experience.
Specializing in groceries and essential items, N7T partnered with EFutures to build a holistic and inter-connected digital presence via e-commerce platform PROVIDORE. The concept was founded on the ambition to create the most user-friendly and functional technology to alleviate the hassles of traditional grocery shopping. “Customer experience shouldn’t be a compromise when shopping online”, says […]
CBSL starts increased compensation payment to depositors of failed finance companies
The Central Bank (CBSL) has commenced payment of the increased compensation amount of Rs 500,000/- under the Sri Lanka Deposit Insurance and Liquidity Support Scheme (SLDILSS), to the depositors / relevant legal beneficiaries of Central Investments and Finance Limited (CIFL), The Standard Credit Finance Limited (TSCFL), TKS Finance Limited (TKSFL), The Finance Company PLC (TFC), […]
Prime Lands Residencies expected to make IPO bid soon
Prime Lands Residencies (Pvt) Ltd, the condominium property arm of Prime Group, recently celebrated a milestone achievement upon the completion of its 35th property project. Issuing a statement to mark this occasion the firm says it will be making it’s Initial Public Offering (IPO) in the near future. This development, the company says will certainly […]
Aitken Spence acquires Waltrim Energy for Rs.900Mn
Aitken Spence PLC has acquired 100 percent of shares of Waltrim Energy Limited, a sub-subsidiary of Sunshine Holdings PLC, for a total consideration of 900 million rupees, a company statement said. The company in a stock exchange filing by Aitken Spence, Waltrim Energy operates three hydropower generation plants in Nuwara Eliya, with a total capacity […]
Optimism among Swedish companies doing business with Sri Lanka
Growth over the past five years, negative development in 2020 and optimism for 2021. These are some of the key takeaways from the Sweden-Sri Lanka Business Council’s membership survey for 2021. Among the members’ most prioritized issues are simplified visa rules to Sri Lanka and to Sweden, increased attention for Sri Lanka from the Swedish […]
LECO consumers to get interest for security deposits of electricity
The Public Utilities Commission of Sri Lanka (PUCSL), the electricity sector regulator together with Lanka Electricity Company Private Limited (LECO) yesterday launched an interest pay scheme for security deposits of electricity for LECO consumers at the BMICH. Payment of interest on electricity consumer deposits is a benefit provided to the consumer under Section 28 of […]
”; Outlook stable
Fitch Ratings has affirmed Sri Lanka-based consumer and healthcare company Hemas Holdings PLC’s National Long-Term Rating at ‘AAA(lka)’ with a Stable Outlook. The affirmation reflects the defensive nature of Hemas’ operating cash flows stemming from its pharmaceutical trading and manufacturing, and fast-moving consumer goods (FMCG) businesses, which account for more than 90% of the group’s […]
NEM Construction receives record consignment from Udeshi Group
UTRAX®, the construction equipment division of the Udeshi Group, has successfully completed the handover of the country’s single largest order of hydraulic excavators to date, in turn contributing significantly to Sri Lanka’s fast-expanding infrastructure development efforts. The island’s leading commercial and industrial equipment supplier and exclusive distributor of Sumitomo excavators in Sri Lanka, officially handed […]