Stockbrokers told to proactively engage local investors before going after foreigners

Instead of passively waiting for foreign investors to come, the stockbrokers at the Colombo bourse have been asked to proactively engage local investors as there is huge potential for share valuations to increase in the near future.

44% of UL customers believe it will be safe to fly in 3 months

A survey carried out by SriLankan Airlines among its loyal customers has revealed that 44 percent of the respondents believe that it would be safe to fly within three months in the current context, despite COVID-19 pandemic has not shown any signs of slowing down.

Softlogic Life secures US $ 30mn investment from FinnFund, Norfund and MunichRe

Softlogic Life Insurance PLC, a unit of Softlogic Holdings PLC and the country’s third largest life insurer said, it finalised two landmark deals to the tune of US $ 30 million (Rs.5.6bn) .

EDB -Foreign Min join hands to boost exports

Sri Lanka’s export promotion agency, the Export Development Board (EDB) announced it has joined hands with the Foreign Ministry to boost the nation’s export revenue and mitigate the negative impact of the COVID-19 pandemic on the industry.

Uber launches package delivery service in Colombo

Taxi hailing App, Uber launched in Colombo today its new package delivery service ‘Uber Connect,’ which will allow residents of Colombo to send and receive parcels within city limits.

Permit holders can buy vehicles already imported at reduced prices: FinMin

The Finance Ministry today said vehicle permit holders who haven’t been unable to import vehicles due to import restrictions, can purchase unregistered vehicles already imported to the country from registered vehicle importers/sellers at market price minus the tax concession entitled for such permits.

Harsha Amarasekera new Chairman of Sampath Bank PLC

Sampath Bank PLC today announced the appointment of President’s Council (PC) Harsha Amarasekera as the bank’s new Chairman (Non-Executive, Non- Independent) with effect from 30 August 2020.

Online survey to measure COVID-19 impact on economy

The Department of Census and Statistics (DCS) the main statistical organization of the government, has initiated an on line survey to measure the impact caused by COVID-19 pandemic to the Sri Lankan economy.

ICTA inks MoU with UNDP to design and implement National Digital Strategy

The Information and Communication Technology Agency (ICTA) and the United Nations Development Programme (UNDP) in Sri Lanka signed a 4-year Memorandum of Understanding (MoU)today to support the island nation’s aspirations for digital transformation.

BOI initiates discussion with British High Commission to attract FDIs

The Board of Investment (BOI) initiated dialogue with the British High Commission in Colombo to look at avenues to bring into the country the much required Foreign Direct Investments (FDIs).

LOLC records highest ever profits

LOLC releasing its first quarter results for FY20/21, today said it has recorded the highest ever profit-after tax (PAT) of Rs.37.2 billion compared with Rs.5.6 billion recorded for the corresponding quarter of the previous year. Profit attributed to the equity holders of the group rose 137 percent to Rs.13.9 billion.

Enough vehicles stockpiled for next two and half years: PBJ

President’s Secretary Dr.P.B. Jayasundara this week (24) told a private television station that Sri Lanka has amassed vehicles enough for the next two and a half years during the five-year period of 2014-2019.

Colombo land value growth decelerates

The growth in land values in the Colombo district fell below 10 percent for the first time in years, decelerating to 7.1 percent year-on-year (YoY) in the first half of the year from 10.8 percent recorded in the second half of 2019, according to the Land Valuations Indicator (LVI) complied by the Central Bank (CB).

Dialog hails TRCSL’s move to implement number portability

The country’s largest celco, Dialog Axiata PLC, yesterday welcomed the Telecommunication Regulatory Commission of Sri Lanka’s (TRCL) decision to take initial steps towards implementing number portability in Sri Lanka.

PickMe calls on govt. to enable a level playing field

Home-grown taxi hailing app, PickMe called on the government to increase its efforts in creating a level playing field so that entities, such as itself, that has digital solutions as its core operations can compete better with multinationals in the industry.

TRCSL kicks off work on mobile number portability

Telecommunication Regulatory Commission of Sri Lanka (TRCSL) announced it has initiated preliminary measures to implement number portability in the country.

Senarath Bandara to take over reins of Cargills Bank

Veteran banker Senarath Bandara has been appointed as the Managing Director/CEO designate of Cargills Bank Limited, and will commence his new role with effect from September 8, 2020.

Arosha-led Lakma Holdings to acquire MTD Walkers

In a disclosure to the Colombo Stock Exchange (CSE), the board of MTD Walkers PLC informed that Lakma Holdings (Pvt.) Ltd led by Dr. Arosha Fernando has signed a share sale and purchase agreement to acquire 90 percent of the shareholding of the company, from its Malaysian parent MTD Capital BHD.

BOI inks deal with Pearl Energy Ltd. to set up LNG facility in Hambantota

Sri Lanka will see the addition of a Liquefied Natural Gas (LNG) trading facility with the Board of Investment (BOI) having entered into an agreement with Pearl Energy (Pvt) Ltd. to launch the ‘Hambantota LNG Hub’.

Trade Minister meets EDB officials

Trade Minister Bandula Gunawardena made his inaugural visit to the Sri Lanka Export Development Board (EDB) recently since assuming office and met the key officials of the institution.