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  • DIMO acquires Germany-based EgeSun GmbH’s local subsidiary, Tropical Health Food for Rs.450.08 million

DIMO acquires Germany-based EgeSun GmbH’s local subsidiary, Tropical Health Food for Rs.450.08 million

Diesel & Motor Engineering PLC (DMO) acquired a 94.45% stake in Germany-based EgeSun GmbH’s subsidiary, Tropical Health Food (THF) Pvt Limited for Rs.450.08 million yesterday. The owner of EgeSun, Orhan…

USAID Partners with Keells Supermarket to promote competitiveness in Sri Lanka’s MSMEs

The U.S. and Keells are partnering to strengthen small businesses in Sri Lanka through an agreement to connect Keells suppliers with private business advisory service providers. “The small businesses that…

Sri Lankan tea pickers’ dreams shattered by economic crisis

 (Reuters) – On a lush plantation in Sri Lanka, Arulappan Ideijody deftly plucks the tips of each tea bush, throwing them over her shoulder into an open basket on her…

Watawala Plantations to acquire cattle fodder growing firm Moragoda Agro Services for Rs.88.5 million

Watawala Plantations PLC has entered into a share sale and purchase agreement on 21st Marchwith Aruna Moragoda, who owns a 100% stake in Moragoda Agro Services (Pvt) Ltd for Rs.88.5…

Russia-Ukraine Conflict: Economic Implications for Sri Lanka

By Asanka Wijesinghe The Russian invasion of Ukraine deepens the existing global economic woes – persistent supply chain bottlenecks and associated rising inflation – clouding the prospects of a smooth global economic recovery from…

Sri Lanka’s government to acquire unutilized lands of plantation companies in six months – Labour Minister

Minister of Labor Nimal Siripala de Silva says that the government has decided to distribute the abandoned lands of the plantation companies to the plantation workers or the youth of…

Sri Lanka economy contracts 1.5% in 3Q

(Reuters) – Sri Lanka’s economy shrank 1.5% in the third quarter from a year earlier due to a third COVID-19 wave that peaked in August hitting industries and services, the government…

Inaugural LANKA COFFEE ASSOCIATION Aims to Restore Ceylon Coffee Brand

Sri Lanka was once the third-largest producer of coffee in the world. Devastatingly, the coffee leaf rust disease wiped out the country’s plantations in the 1860s and exports have remained…

The Central Bank publishes “Recent Economic Developments: Highlights of 2021 and Prospects for 2022″

The Central Bank of Sri Lanka today published “Recent Economic Developments: Highlights of 2021and Prospects for 2022” online with an overview of the performance of the Sri Lankan economy in…

Sri Lanka bans China manufactured ‘organic’ fertilizer after detection of bacteria again

Sri Lanka banned the import of organic fertilizers manufactured in China after state agriculture authorities detected harmful bacteria in them for the second time. Director General (DG) of Agriculture, Ajantha…