Diversified conglomerate Brown and Company PLC yesterday announced the selling of its subsidiary Browns Fabric Limited.In a filing to the Colombo Stock Exchange, Brown and Company shared the entity was sold to Ceylon Knit Trend (Pri
The Economic Transformation Bill could create an oasis in an island of bad governance, sparking uncertainty among foreign investors and threatening the flow of crucial investments, warn legal and investment experts.
Sri Lanka’s economy grew at a faster pace of 5.3 percent in the first three months of 2024, picking up from 4.5 percent in the final three months of last year, as the economy cooled down from the red-hot inflation back then, while the availability in foreign currency helped improve the access to the inputs in manufacturing and rest of the sectors.
Sri Lanka was able to let out a sigh of relief yesterday with the Internal Monetary Fund (IMF) announcing the approval of the second review under the Extended Fund Facility (EFF) programme which will release US$ 337 million.
Despite the recent achievements in tax revenue, Sri Lanka’s target for the next two years still remains ambitious, with a limited number of tax policy options being available, an International Monetary Fund (IMF) official said.
Colombo-based Capital Alliance (CAL), a full-service frontier capital markets solutions provider, plans to expand into other frontier markets, aiming to operate in regions with a combined GDP of US$1-1.5 trillion within the next 3-5 years.
Amidst the declining interest rates and entrance of new funds, Sri Lanka’s unit trust industry has continued to gain traction this year. The number of unit trust holders surpassed 100,000 and the total net asset value (NAV) crossed Rs.500 billion at end-April this year.
The global market demand for ship building and ship repairs looks promising in the near future. However, financial market problems in Sri Lanka will continue to pose a challenge to the growth targets of Colombo Dockyard PLC.
The growth in merchandise exports outstripped the growth in imports to help narrow the trade deficit in April compared to a year ago levels, but the cumulative four months deficit stands higher compared to the corresponding period of last year signalling an expanding economy.
Having nearly one third of listed entities adopting Environmental, Social and Governance (ESG) principles in their business models and reporting, the Colombo Stock Exchange (CSE) Chief acknowledges a growing interest among listed entities to adopt ESG principles.
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