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Tokyo Cement Company ramps up supply to address cement shortage
In a statement, Dr. Harsha Cabral PC, Chairman of Tokyo Cement Company (Lanka) PLC announces that the Company has taken several immediate measures to address the cement shortage in the market. He states that Tokyo Cement is operating its cement manufacturing plant in Trincomalee at the maximum installed capacity of around 170,000 MT per month […]
Interview: Darshi Keerthisena on Sri Lanka’s Batik craft and its future
Batik is one of Sri Lanka’s most loved and versatile heritage crafts and Darshi Keerthisena has used her artistic tool kit and shaped it into a must-have in every fashionista’s wardrobe. She is the Creative Director of Buddhi Batiks, a legacy enterprise handed down to her by her parents. Starting with the batik sari Dharshi […]
Lanka Credit and Business Finance Limited IPO oversubscribed
Lanka Credit and Business Finance Limited (LCBF) initial public offering (IPO) for a total issue of 125,000,000 ordinary voting shares at an issue price of 4.00 rupees to raise 500 million rupees has been successfully oversubscribed on the opening day, the Colombo Stock exchange said. NDB Investment Bank as the sole financial advisor and […]
‘s Central Bank reveals progress of securing foreign exchange inflows
The Central Bank on Tuesday revealed the progress of securing foreign exchange inflows and highlighted a series of direct engagements that the Sri Lankan Government has commenced with other Governments, Central Banks, financial institutions, and investors. Releasing a statement, the bank said that the government is processing a US dollars 1.5 billion long-term loan offer […]
IPS Policy Insights: COVID-19, Global Economy & Sri Lanka’s External Sector Outlook
Global economic developments have impacted Sri Lanka’s external sector performance, and the economy overall. While Sri Lanka managed the first wave of the COVID-19 outbreak imposing lockdown measures for two months (March to May 2020), it has since been hit by a second outbreak since October 2020 and a third wave in April 2021. The […]
SL welcomes French FDI in development project tourism and hospitality sectors
State Minister of Regional Cooperation Tharaka Balasuriya, Chairman BOI Sanjaya Mohottala, had several high-level discussions in Paris, France from 05-11 October 2021. These bilateral meetings were organized in Paris with leading private sector companies, finance institutions and government agencies, with the BOI Chairman joining a delegation that comprised State Minister of Regional Cooperation Tharaka Balasuriya, […]
MTI unveils National ICT Eco-System Framework
Given the criticality of ICT (Information & Communication Technology) to a Nation’s Economic Development, MTI has unveiled a National ICT Eco-System Framework. The strategic intent is to provide a holistic framework for nationally strategic ICT decisions, which otherwise tends to suffer from ‘silo’ based, sub-optimal initiatives. Given the pervasive nature of ICT, it is important […]
Pacific Textiles Chairman Masaru Okutomi appointed Director of Teejay Lanka
Teejay Lanka PLC has announced the appointment of Masaru Okutomi, the Chairman and CEO of Pacific Textile Holdings Limited of Hong Kong, as a non-executive Director of the Company with immediate effect. Okutomi replaces Wan Wai Loi on the Board of Teejay Lanka PLC, consequent to a change in the latter’s role on the Board […]
Eran queries purpose of maintaining COPE if it cannot take actions
SJB MP Eran Wickremaratne speaking on the debate on COPE report in Parliament expressing his dismay said it was unfortunate that the COPE committee appointed by Parliament to investigate embezzlement of hundreds of thousands of rupees in Sri Lankan state institutions had not even the power to prosecute thieves and fraudsters. He said the country […]
CAL Launches IPO Portal to Empower Investors
Capital Alliance (CAL) is empowering private investors with the chance to capitalize on investment opportunities by subscribing to Initial Public Offerings (IPOs) managed by CAL directly through its newly-launched IPO Portal. CAL’s reputation as Sri Lanka’s leading investment bank has been based on its pursuit of excellence in execution, research and product innovation, and developing […]
CICT declared Asia’s Best Container Terminal under 4 million TEUs category
Colombo International Container Terminals (CICT) has continued its winning streak on the global stage by winning the award for the ‘Best Container Terminal in Asia’ in the Under 4 million TEUs category for a record fifth consecutive year. The winner of this prestigious award was announced on Thursday 21st October at the 2021 Asian Freight, […]
US Ambassador pays farewell call on Foreign Minister
Ambassador of the United States of America to Sri Lanka Alaina B. Teplitz paid a farewell call on Foreign Minister Professor G.L. Peiris at the Foreign Ministry. Minister Peiris discussed with Ambassador Teplitz the future of the bilateral relationship between Sri Lanka and the United States, with particular reference to trade, investment and cooperation in […]