Tag: lbo
Sri Lanka vehicle registrations down in March 2021
Total vehicle registrations marginally reduced to 3,556 units in March down from 3,558 units in Feb but significantly down from 13,219 units 12 months ago. The comparative figure was 35,150 units 24 months ago. In the locally assembled category Under cars Zotye Z100 recorded 22 units in March down from 79 units in Feb and […]
WB says as SL should focus on competitiveness and debt sustainability to ensure resilient rebound
Despite the heavy toll of the COVID-19 pandemic on Sri Lanka’s economy and the lives of its people, the economy will recover in 2021, though challenges remain, says the latest World Bank Sri Lanka Development Update: Economic and Poverty Impact of COVID-19 released today. The Sri Lanka Development Update (SLDU) notes that the country, hit with an unprecedented economic […]
Gazette notification to recruit 40 eligible candidates to join Sri Lanka Foreign Service issued
The Foreign Ministry is pleased to inform that a gazette notification to recruit 40 eligible candidates to join the Sri Lanka Foreign Service (SLFS) is now published. The Gazette Notification No. 2,223 dated 9 April 2021 can be accessed at http://www.documents.gov.lk/files/gz/2021/4/2021-04-09(I-IIA)E.pdf. Members to the Foreign Service are selected every few years through an open competitive recruitment […]
Prime Lands Residencies expected to make IPO bid soon
Prime Lands Residencies (Pvt) Ltd, the condominium property arm of Prime Group, recently celebrated a milestone achievement upon the completion of its 35th property project. Issuing a statement to mark this occasion the firm says it will be making it’s Initial Public Offering (IPO) in the near future. This development, the company says will certainly […]
Aitken Spence acquires Waltrim Energy for Rs.900Mn
Aitken Spence PLC has acquired 100 percent of shares of Waltrim Energy Limited, a sub-subsidiary of Sunshine Holdings PLC, for a total consideration of 900 million rupees, a company statement said. The company in a stock exchange filing by Aitken Spence, Waltrim Energy operates three hydropower generation plants in Nuwara Eliya, with a total capacity […]
Advocata Institute launches tool to track everyday food price changes
Advocata’s latest policy product tracks the average retail prices of a basket of goods and provides an indication of how much prices have changed over time. With the use of such tools, anyone including policymakers and politicians alike has access to track price fluctuations. This could enable anyone to see if policies have direct or […]
”; Outlook stable
Fitch Ratings has affirmed Sri Lanka-based consumer and healthcare company Hemas Holdings PLC’s National Long-Term Rating at ‘AAA(lka)’ with a Stable Outlook. The affirmation reflects the defensive nature of Hemas’ operating cash flows stemming from its pharmaceutical trading and manufacturing, and fast-moving consumer goods (FMCG) businesses, which account for more than 90% of the group’s […]
NEM Construction receives record consignment from Udeshi Group
UTRAX®, the construction equipment division of the Udeshi Group, has successfully completed the handover of the country’s single largest order of hydraulic excavators to date, in turn contributing significantly to Sri Lanka’s fast-expanding infrastructure development efforts. The island’s leading commercial and industrial equipment supplier and exclusive distributor of Sumitomo excavators in Sri Lanka, officially handed […]
From mine to market – showcasing Sri Lanka’s jewellery legacy to the world
The Sri Lanka Gem and Jewellery Association (SLGJA) hosted their second Key Person’s Forum for the industry recently, with the objective of facilitating the industry during this pandemic period and boosting overall tourism in collaboration with the Ministry of Tourism. The forum was conducted with Prasanna Ranatunga, State Minister of Tourism, Lohan Ratwatte, State Minister […]
‘Bath Curry Indicator’ by Advocata Institute will be launched tomorrow
Food inflation has risen over the last year, although the overall inflation is low. According to the National Consumer Price Index, overall prices rose by 3.7% between January 2020 and January 2021, but food inflation rose by 5.9%. While this is a matter of concern to the public, items like turmeric and green gram, which […]
Interview: Post-COVID investment to Sri Lanka back on track
The Board of Investment (BOI) Chairman Sanjaya Mohottala said Sri Lanka is home to over 1,200 foreign companies and out that 50 percent of capital formation that took place in 2020 by BOI companies came from existing investors. He added that along with supporting existing industries to expand, the BOI is also looking to orchestrate […]
CBB sets sights on enhanced SL-UK trade with British Chambers of Commerce
The Council for Business with Britain (CBB) is now a member of the British Chambers of Commerce and marked this collaboration with an open networking event. The virtual gathering titled ‘The Power of a Global Network’ gave CBB members and other businesses across Sri Lanka a platform to connect with over 50 Regional Chambers of […]