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Co-operative Insurance opens Initial Public Offering
Leading Sri Lankan insurer Co-operative Insurance, recently announced the date of their Initial Public Offering (IPO), which is set to take place on the 20th of December, 2021. The IPO will be managed by the Merchant Bank of Sri Lanka. Affirming its financial strength, the company, which secured a strong financial performance for the past […]
Sri Lanka’s IT solution provider NCINGA empowers Telecom Fiji
NCINGA (Pvt) Ltd, one of Sri Lanka’s leading IT solution providers, continues to advance the emerging markets in the telecommunications industry, acting as a powerful force behind the Infrastructure development of Telecom Fiji in the Fiji islands, located in the Pacific Ocean. The leading Sri Lankan IT firm has levelled up its partnership with Telecom […]
Listed Companies welcome opportunity to hear about new SEC Act directly from Regulator
The Securities and Exchange Commission of Sri Lanka (SEC) and the Colombo Stock Exchange (CSE) organized a symposium on 6th December 2021 to enlighten senior officials of listed companies on the features of the new Securities and Exchange Commission Act No. 19 of 2021. SEC Media Release The SEC Chairman Mr. Viraj Dayaratne PC delivered […]
Sri Lanka disputes rating downgrade by Fitch Ratings
Downgrading Sri Lanka’s international sovereign rating resembles the recent unwarranted downgrade by Moody’s Investors Service a few days prior to the announcement of the National Budget 2022, Sri Lanka’s Central Bank said. Releasing a statement the bank said the sense of urgency on the part of an internationally recognised rating agency to downgrade Sri Lanka […]
Black, White & Grey Markets: Dynamics of Foreign Exchange & Remittances in Sri Lanka
By Bilesha Weeraratne: Written Ahead of International Migrants’ Day on December 18, 2021. Despite the pandemic and related difficulties in remitting, remittances to Sri Lanka had picked up by December 2020 to record year-over-year growth of 5.8 %, contrary to all expectations. The reasons for such a quick rebound include catching up on postponed remittances, […]
SLTC divests from Sri Lanka Telecom in management buy-out
A management buy-out backed by Tempest two (Pvt) Ltd is gearing to acquire SLT Campus (Pvt) Ltd (popularly known as Sri Lanka Technological Campus) from Sri Lanka Telecom PLC in order to launch SLTC towards its ultimate objective of being Sri Lanka’s first and most recognized research-oriented university. Having been initiated and funded by SLT, […]
VIDEO: How Bad Can Inflation Be? Turkey Offers a Warning
As the Federal Reserve and other central banks around the world deal with rising inflation amid the economic recovery from the pandemic, Turkey – where the rate is currently over 20% – offers a warning. Soaring inflation has led to economic turmoil after years of broad growth.
LOLC General Insurance Limited IPO oversubscribed on opening day
The Initial Public Offering (IPO) of LOLC General Insurance Limited, through an Offer for Sale of 120,000,000 Ordinary Voting Shares at a price of Rs. 7.90 per Share, which opened yesterday (16th December 2021) was oversubscribed on the initial day itself. The IPO by LOLC General Insurance Limited received applications for over the IPO value […]
JICA supports Jaffna University towards improvement of dry zone agriculture
Japan International Cooperation Agency (JICA), the Ministry of Education, and the University of Jaffna agreed to implement JICA’s new technical cooperation named ‘The Project for Research and Education Capacity improvement in Dry Zone Agriculture at University of Jaffna’. Prof. Kapila C. Perera, Secretary, Ministry of Education, Prof. S. Srisatkunarajah, Vice-Chancellor, University of Jaffna, and Yamada […]
PUCSL to empower 10,000 plumber technicians with NVQ qualification
The Public Utilities Commission of Sri Lanka (PUCSL), the regulator of the electricity industry and the designated regulator for water services industry entered into a Memorandum of Understanding with Tertiary and Vocational Education Commission (TVEC), Vocational Training Authority (VTA) and National Apprentice and Industrial Training Authority (NAITA) on 14th December 2021 to provide free National Vocational […]
Legal framework to be created for E-Commerce in Sri Lanka
Sri Lanka will introduce a new law that would ensure fairness and protection of rights for both businesses and consumers who use online E-Commerce platforms. A discussion was held at the Ministry of Justice with the representatives of several leading online trading platforms about the need for a strong legal framework for the industry. The […]
Coconut seedlings, Tea & cinnamon plants free of charge for cultivation: Plantation Minister
Plantation Minister Ramesh Pathirana says that the government has decided to provide 2.3 million coconut seedlings to the public at the Divisional Secretariat level next year. The government will also provide tea plants free of charge by obtaining tea plants owned by the Tea Small Holdings Development Authority. Financial assistance will also be provided for […]