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Material Sector – The Scavengers of Recovery
Softlogic Research, in its most recent publication, took a very strong stance on the Material sector, predicting a strong growth backed by economic recovery and the renewable energy drive. Digging deeper into the trickle-down effects of core economic policies such as protectionism and economic stimulus, the publication deals with the potential benefits of such policies […]
CSE approves the first Empower Board listing
The Colombo Stock Exchange (CSE) has approved, an application submitted by Chrissworld Limited, for the listing of its Ordinary Voting Shares by way of an offer for subscription on the Empower Board of the CSE. The company will be Offering for Subscription of Seven Million Five Hundred Thousand (7,500,000) Ordinary Voting Shares at LKR 7.50 […]
Interview: Post-COVID investment to Sri Lanka back on track
The Board of Investment (BOI) Chairman Sanjaya Mohottala said Sri Lanka is home to over 1,200 foreign companies and out that 50 percent of capital formation that took place in 2020 by BOI companies came from existing investors. He added that along with supporting existing industries to expand, the BOI is also looking to orchestrate […]
Palm Oil imports completely banned with immediate effect
President Gotabaya Rajapaksa has instructed to completely ban the importation of Palm Oil with immediate effect. The Controller General of Department of Imports and Exports Control has been advised to issue the relevant gazette order to give effect to this instruction, by the Secretary to the President P.B Jayasundera today itself. Additionally, the Director-General of […]
SANASA Development Bank to raise capital via a Secondary Public Offering
SANASA Development Bank has resolved to raise capital through the issuance of new Ordinary Voting Shares to the public via a Secondary Public Offering (SPO), the bank said in a stock exchange filing. The SPO under consideration constitutes of an invitation to the public, by way of a Prospectus, to subscribe up to Sixty Eight […]
CBB sets sights on enhanced SL-UK trade with British Chambers of Commerce
The Council for Business with Britain (CBB) is now a member of the British Chambers of Commerce and marked this collaboration with an open networking event. The virtual gathering titled ‘The Power of a Global Network’ gave CBB members and other businesses across Sri Lanka a platform to connect with over 50 Regional Chambers of […]
Veemansa Initiative webinar to discuss new developments at Colombo Port City
Asia’s newest landscape, the Colombo port city, is to be launched as a special economic zone under the aegis of the Colombo Port City Economic Commission. The scope, incentive structure and the institutional setup of this special economic zone which was gazetted recently will be the theme of the webinar of “Asia’s Newest Landscape” which […]
United States funds mobile app for Sri Lankan legal professionals
With support from the United States, the Colombo Law Society (CLS) recently launched a mobile application that provides members with access to online legal resources and court calendars. With court calendars and law reports at their fingertips, lawyers will be able to better serve the public. The mobile application was funded by the U.S. Government’s […]
Govt has no intention to tarnish its unblemished debt service record, CBSL clarifies reports
The Government has no intention to tarnish its unblemished debt service record by delaying the settlement of maturing debt obligations, the Central Bank clarified. The clarification came after a newspaper today publishing a report of a planned delay in settlement of dues on SLDBs and foreign currency loans obtained by the Government from domestic banks. […]
BASL expresses serious concern about violent & brutal nature of certain Police Officers
The Bar Association of Sri Lanka (BASL) expresses serious concern about the recent reports of incidents involving the use of force by certain Police Officers and the violent and brutal nature of the force used. The BASL is firmly of the view that the use of force should not be used under any circumtances except […]
Strengthening recycling identified as immediate solution to plastic waste issue
AIESEC Sri Lanka hosts webinar on plastic waste management in view of recycling day CEA emphasizes need to adopt a collaborative approach to addressing the issue Only 20% of the plastic waste in the market reach recyclers Strengthening recycling practices and systems identified as key In view of Global Recycling Day, youth organization AIESEC Sri […]
Ceylon Electricity Board to raise up to Rs. 20Bn in capital through stock market
The Colombo Stock Exchange (CSE) has approved an application by the Ceylon Electricity Board (CEB) to issue Senior Unsecured Listed Redeemable Rated Debentures at an Issue Price of Rs. 100 amounting to a potential capital raising of up to Rs. 20 Billion. The debentures will be issued for period of 5 years with a fixed […]