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Sat, 08 Aug 2020
The local business community yesterday sounded upbeat on their expectations from the new parliament that was elected with a landslide victory by the Sri Lanka Podujana Peramuna (SLPP) and its allies, securing two-thirds majority.
Port City Colombo is marking yet another milestone event in the country in its next phase of development.
Trump administration officials have urged the president to delist Chinese companies that trade on U.S. exchanges and fail to meet U.S. auditing requirements by January 2022, Securities and Exchange Commission and Treasury officials said
Businesses in Northern Ireland will be able to use a new free service to complete import paperwork after UK-EU trading terms change later this year, the British government said yesterday.
A new China-US flare-up sent markets tumbling yesterday, while the mood was also soured by US lawmakers’ struggles to agree on a new economic stimulus - all against a backdrop of surging virus infections.
The unprecedented fall in greenhouse gas emissions from lockdowns during the pandemic will do “nothing” to slow climate change without a lasting switch from fossil fuels, an international team of researchers said yesterday.
The loans to contractors backed by Treasury guarantees can now be considered as part of banks’ liquid assets when calculating and reporting their statutory liquid asset ratio (SLAR) to the Central Bank.
The International Monetary Fund urged Lebanese officials yesterday to break an “impasse” and move ahead with reforms after a massive Beirut blast cost the crisis-hit country billions in damages.
Aitken Spence Hotels has announced that five of the hotel group’s Maldives resorts will reopen to international guests by September 1st.
Telecommunication services provider Dialog Axiata PLC this week announced that discussions on the proposed acquisition of the systems integration business of V S Information Systems (Private) Limited (VSIS), namely VSIS Enterprise Solutions (Private)
The Kingsbury PLC continues to remain in the red having posted net losses for five straight quarters after being hit with a two-fold impact— first from the Easter Sunday attack in April 2019, and now the global pandemic— both which dealt a crippl
Watawala Plantations PLC reported robust revenues and profits for the three months ended June 30, 2020 (1Q21) as the company’s palm oil and dairy businesses stood to benefit from the circumstances that were created by the pandemic where the focus i
Asian markets mostly rose yesterday building on a two-day rally, with nervous investors keeping an eye on stimulus talks in Washington, while China-US tensions continued to weigh on confidence.
Sunshine Holdings PLC yesterday said its sub-subsidiary Watawala Tea Ceylon Limited has entered into a share sale and purchase agreement with the current shareholders of Daintee Limited to purchase 100 percent shareholding of the company for Rs.1.7 b
Vallibel Finance PLC reported subdued profits for the three months ended March 31, 2020, as the company made a higher provision for possible loan defaults amid the expectations that the pandemic-driven economic shocks to have an extended bearing on i
The Veddagala Tea Factory, situated in Lenagala, has achieved an all-time record price at the weekly tea auction held on August 4, 2020, by securing an attractive price of Rs.1550 per kilogramme, for the PEK1 grade in the Low Grown category. This lin
The Ceylon Tea national sales average has witnessed a 22 percent year-on-year (YoY) increase for the month of July, showing an expansion of Rs.113.09 compared with the corresponding period in 2019.
Dialog Axiata PLC this week said the pandemic had an adverse impact on its revenues while the provision for bad debt hit profits as the group extended credit to keep people connected during the lockdowns, which significantly affected
Gold has topped US $ 2,000 (£1,527) an ounce for the first time as traders look for havens amid the pandemic.
International banks in Hong Kong are caught in the crossfire of competing laws enacted by the United States and China as the superpowers clash over the city’s future, with analysts warning businesses are being forced to pick a side.
The Colombo Stock Exchange yesterday said it has decided to close the market at 12.30 p.m. today (August 05th) in view of the
Issuing the national accounts estimates for the first quarter of 2020 (1Q20), the Department of Census and Statistics (DCS) yesterday said Sri Lanka’s GDP contracted 1.6 percent compared to 3.7 percent growth recorded in the first quarter
German chemicals giant Bayer reported yesterday a second-quarter net loss of 9.55 billion euros (US$ 11.26 billion), reflecting the ‘exceptional impact’ of a US settlement of thousands of claims that its glyphosate weed killer may have caused can
Early indications have shown that the Sri Lankan economy is on course to some recovery in the ongoing quarter with lower borrowing costs and benign prices continuing through the year as the country is going to a crucial poll to decide who could be be
Pan Asia Bank reported higher net interest income and profits for the three months ended June 30, 2020 (2Q20), as the bank took advantage of its high priced loans by taking time to adjust them lower while the loan impairments held back due to relief
In a strategic move to build in agility, create robust governance structure, transform and steer the company into the next tier of growth, Lankem Ceylon PLC yesterday announced the appointment of Suren Goonewardene as Managing Director for
Credit card spending, a gauge for consumer spending of an economy, showed a robust increase in June, in a sign that the economic activities are gaining momentum faster than expected after the coronavirus sapped consumer spending, as people were force
The Securities and Exchange Commission (SEC) has announced the introduction of a unit trust-based real estate investment trust (REIT) framework to the Colombo Stock Exchange (CSE).
Sri Lanka’s inflation measured by the Colombo Consumer Price Index (CCPI) increased in July from a month ago, driven mostly by the price increases in non-food items such as healthcare, clothing and transport, as people who were mostly confined to t
Vidullanka PLC, a forerunner in the Sri Lankan renewable energy industry, has taken its second gigantic leap in Africa by commissioning the 6.5MW Bukinda Small Hydropower Project in Uganda.
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