Ishara’s LOLC becomes third one billion dollar company on CSE

Dynamic business leader Ishara Nanayakkara-controlled LOLC Holdings PLC today became the third US $ 1 billion company on the Colombo Stock Exchange (CSE), behind John Keells Holdings PLC and Ceylon Tobacco Company PLC.

CB suspends banks from entering into forward forex contracts

Adding another one to the recent measures implemented to contain the excess volatility in the foreign exchange market, the Central Bank today suspended the licensed commercial banks from entering into forward rate agreements for foreign exchange for three months, with immediate effect.

Nat Rothschild calls Sri Lanka “a true gem with a great future”

British-born financier and a member of Rothschild family, Nathaniel Rothschild said his recent visit to Sri Lanka was to explore the country’s suitability as a manufacturing location for electronics, while calling the island nation “a true gem with a great future.”

Renewed tourism protocols as SL gears to open doors Thursday

The local tourism sector has been issued with a renewed set of ‘safety protocols’, one that is relaxed and allows international travelers experience the island nation with fewer restrictions.

SriLankan Airlines awarded ‘Platinum Standard’ by APEX Health Safety

National carrier, SriLankan Airlines has been awarded ‘Platinum Standard’ status by APEX Health Safety, powered by SimpliFlying.

People’s Bank responds to media reports

People’s Bank in a brief statement today clarified on recent news reports in media about the bank.

CSE ranked world’s second best performing market

President clears the air on East Container Terminal

President Gotabaya Rajapaksa has stressed that the East Container Terminal (ECT) of the Colombo Port would not be sold or given on lease to any outside party.

Elon Musk overtakes Jeff Bezos to become world’s richest person

Tesla Inc, chief and billionaire entrepreneur Elon Musk surpassed Amazon.com Inc’s top boss Jeff Bezos to become the world’s richest man, Bloomberg News reported today.

LOLC Investments exits BPPL Holdings

LOLC Investments Ltd. today sold its entire stake in the brush maker BPPL Holdings in Rs.1.28 billion deal.

Central Bank hopeful of PayPal’s arrival in Sri Lanka

The Central Bank remains hopeful of the prospects of PayPal Holdings Inc., the US-based international payment gateway company, to open access to Sri Lanka to facilitate Internet-based payments.

Pasan Wanigasekara to assume duties as BOI Director General

Multi-disciplined corporate leader Pasan Wanigasekara has been appointed as the new Director General of the country’s State-run apex investment promotion body, Board of Investment (BOI)

ASPI crosses 7, 000-point mark after six years

The benchmark All Share Price Index (ASPI) of the Colombo Stock Exchange (CSE) surpassed the 7, 000-point mark a while ago with increased market activity in certain counters such as Browns Investments PLC and Expolanka Holdings PLC.

Sri Lanka to issue new Rs.2, 000 currency note

The Central Bank is to introduce a new Rs.2, 000 currency note this year as a part of the existing 11th note series.

CB to revise EPF’s investment guidelines

The Central Bank today announced plans to revise the investment guidelines related to the Employees’ Provident Fund (EPF) to diversify the investment portfolio of Sri Lanka’s largest superannuation fund under the current low interest rate environment.

SL gearing up to open airports by end January

Sri Lanka will open its airports for both local and foreign air travelers from by end January after over 10 months of closure, the Ministry of Aviation announced today.

SL’s ChargeNET to power India with smart EV charging solutions

Sri Lanka’s largest Electronic Vehicle (EV) charging network, ChargeNET, has partnered with India’s EV COSMOS to extend smart electric charging solutions across the neighbouring giant.

Leopard Trails bags Gold at SATA Awards 2020

Sri Lanka’s luxury tented camping specialist Leopard Trails bagged the Gold award for Leading Wildlife Tented Camp in South Asia at the South Asian Travel Awards (SATA) 2020.

Commercial Bank announces new Chairman and Deputy Chairman

The Commercial Bank of Ceylon PLC has announced the appointment of former Chief Justice Kanagasabapathy Sripavan as Chairman and senior academic Prof. A. K. W. Jayawardane as Deputy Chairman with effect from 21st and 29th December 2020 respectively.

Browns Investments announces US $1bn mixed development project in Port City

Browns Investments PLC, the strategic investment arm of LOLC Group, has entered into a deal with China Harbour Engineering Company (CHEC) for a mixed development project to be set up at the Colombo International Finance Centre (CIFC) envisaged in the Colombo Port City.

Economic growth hits all-time low in 2Q

Sri Lanka’s economic growth contracted by whopping 16.3 percent in the second quarter of this year, recording the largest ever drop recorded in the country’s history, the Department of Census and Statistics (DCS) today said.

LOLC Group acquires Hemas Group’s Serendib Hotels

LOLC Group today acquired the hospitality arm of Hemas Holdings PLC in a deal worth over Rs.600 million.

Dhammika Perera launches DP Digital University free online learning platform

Extending higher education facilities designed to enhance employability and opportunity for Sri Lankan youth, philanthropists Dhammika Perera and Priscilla Perera launched DP Digital University, a free online education portal that offers an extensive portfolio of courses from reputed universities and institutions across the world.

Banks barred from buying Lankan sovereign bonds

The Central Bank has barred licensed commercial banks and National Savings Bank (NSB) from purchasing Sri Lanka international sovereign bonds (ISBs) for a period of six months unless such purchases are funded with new dollars sourced abroad.

UL ups flight frequency to Singapore

SriLankan Airlines announced today its decision to increase the frequency of passenger flights on Colombo-Singapore route.

Sanjaya Mohottala assumes duties as BOI Chairman

Current Director General Sanjaya Mohottala has assumed duties as the Chairman of Board of Investment (BOI) of Sri Lanka.

Unity Plaza owner acquired by Lanka Realty Investments

Lanka Realty Investments PLC, formerly known as Ascot Holdings PLC, today said it purchased 47.2 million shares of On’ally Holdings PLC, which constitutes to 50.8 percent for Rs.1.4 billion, paying Rs.30.20 a share.

EDB Chairman Prabhash Subasinghe steps down

Export Development Board (EDB) Chairman Prabhash Subasinghe has stepped down after heading the country’s apex export promotion agency for one year.

Govt. mulls over BOI leadership structure

Following the resignation of Susantha Ratnayake as the Chairman of Board of Investment (BOI), the government is currently considering whether to combine the Chairman and Director General positions into one role or continue with the current structure.

Japan to invest in Eastern Container Terminal, not give a loan

NewsIn.Asia: Now that the Gotabaya Rajapaksa government has finally decided to get India, Japan and the Sri Lanka Ports Authority (SLPA) to jointly develop the Eastern Container Terminal (ECT) in Colombo port, the details are being worked out with the three stakeholders, diplomatic sources said.