Tag: lbo
SLTC divests from Sri Lanka Telecom in management buy-out
A management buy-out backed by Tempest two (Pvt) Ltd is gearing to acquire SLT Campus (Pvt) Ltd (popularly known as Sri Lanka Technological Campus) from Sri Lanka Telecom PLC in order to launch SLTC towards its ultimate objective of being Sri Lanka’s first and most recognized research-oriented university. Having been initiated and funded by SLT, […]
CCC-USAID survey reveals that exporters have a positive outlook for export earnings
“Sri Lankan exporters are confident in their outlook for export growth, despite challenges faced in the first half of 2021,” according to the results of the bi-annual Export Barometer Survey. This survey was designed and conducted by the Ceylon Chamber of Commerce (CCC) and the United States Agency for International Development (USAID)’s Partnership for Accelerating […]
President Rajapaksa stresses importance to curb deforestation and use of fossil fuels
President Gotabaya Rajapaksa undertook an official visit to the United Arab Emirates from 3 to 5 December 2021 to attend the 5th Indian Ocean Conference – IOC 2021 in Abu Dhabi. President Rajapaksa delivered the Inaugural Address as the Chair of the IOC -2021 at the opening ceremony on 4 December in Abu Dhabi. Addressing the […]
Finance Minister Basil Rajapaksa concludes successful visit to New Delhi
At the invitation of the Indian Finance and Corporate Affairs Minister Smt. Nirmala Sitharaman, Minister of Finance of Sri Lanka Basil Rajapaksa concluded a successful two-day official visit to New Delhi recently. This was the first overseas visit of Finance Minister Basil Rajapaksa since he assumed office in July this year. During the two-day official […]
Mahinda Samarasinghe assumes duties as Ambassador- designate of Sri Lanka to USA
Ambassador – designate of Sri Lanka to the United States of America Mahinda Samarasinghe assumed duties at the Embassy of Sri Lanka in Washington D.C. on 2 December, 2021. Upon arrival at the Embassy of Sri Lanka in Washington D.C., Ambassador – designate Samarasinghe was welcomed and greeted by the staff. His assumption of duties was marked by a […]
BOI enterprises export revenues, record 2019 values: Double digit growth recorded in seven sectors
Accounting for 65% of all national exports and 85% of all national industrial exports, the Board of Investment today announced that total export earnings recorded as at date for the year, from enterprises under its purview, have surpassed export revenues with the corresponding year-to-date value achieved in 2019. The year 2019 is regarded as the […]
INSEE Cement’s 360-degree approach eases cement shortage in Sri Lanka
Uninterrupted supply through comprehensive production, imports and logistics optimization reaps positive results Operating at maximum production capacity with optimized distribution channels for a number of weeks, INSEE Cement has successfully helped to mitigate the cement shortage that was prevailing in the local market. INSEE Cement’s concentrated and immediate contingency measures across its entire operation at […]
INSEE Cement signs MOU with Hambantota Port to improve supply chain efficiency
The Hambantota International Port Group (HIPG) today signed an agreement with INSEE Cement, the leading cement manufacturing company in Sri Lanka, to ensure the efficient transfer of raw materials to their factory in Galle, via the Hambantota Port. This will have a positive impact on the operational efficiency. The agreement was signed between Gustavo Navarro, […]
UN ASG Khiari welcomes cooperation between UN and SL on peace and development
United Nations Assistant Secretary-General (ASG) for the Middle East, Asia and the Pacific Khaled Khiari has concluded his visit to Sri Lanka following a series of productive discussions. Khiari, who oversees the regional work of the UN’s Department of Political and Peacebuilding Affairs – Department of Peace Operations, met with President Gotabaya Rajapaksa, Minister of […]
National consensus on structural reforms needed to get out of economic crisis: Advocata
Sri Lanka is already in one of the worst economic crises in its history. The reforms are so difficult that no party will want to even contemplate let alone implement them fearing loss of popularity. The longer reforms are postponed, the worse the problem becomes which makes remedies even more difficult to implement. The only […]
Sri Lanka’s budget proposals weigh on insurers’ near-term earnings:Fitch
The Sri Lankan government’s proposal to introduce new one-off as well as recurring taxes on companies will likely constrain the near-term profitability of some insurers, Fitch Ratings says. However, we expect the proposals to have only a limited impact on most insurers’ capital positions because of their sound capital buffers accumulated before and during the […]
Alliance Finance raises Rs1Bn in subordinate debt to strengthen tier II capital
Alliance Finance Co PLC (AFC) has successfully raised LKR 1 billion in Tier II capital, with the aim of strengthening the regulatory capital of the Company to financially empower and facilitate the development of the Micro, Small and Medium enterprise sector in Sri Lanka. The Tier II Subordinated Debt has a tenure of 5 years […]