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CSE listed firms posts record earnings for December Quarter
The Earnings of Colombo Stock Exchange (CSE) listed firms rose by 33% percent Year-on-Year (YoY) to Rs 88.6 billion in December quarter maintaining the growth momentum for the second straight…
Prime Lands Residencies Plans Rs 1.95B IPO
A top real-estate developer and the leader in the mid-market residential condo segment, Prime Lands Residencies Ltd plans a Rs 1.95 billion Initial Public Offering (IPO) in the Colombo Stock…
Over 500 Sri Lankan migrant workers have died’ building Qatar’s World Cup infrastructure
557 migrant workers among the 6,500 migrant workers who have died during Qatar’s football World Cup preparations over the last decade, according to a report. It reported that On average…
Property Buyers Are Flocking Back To Residential Property Market – LankaPropertyWeb
Sri Lanka’s leading property portal, LankaPropertyWeb says that there has been an increase in real estate activity by property buyers and sellers since the turn of the year Sri Lanka’s…
PUCSL Nod To Award 300MW Kerawalapitiya LNG Power Plant Contract to Lakdhanavi
The Public Utilities Commission of Sri Lanka (PUCSL), the electricity sector regulator approved the power purchase agreement to build 300 MW Kerawalapitiya Liquid Natural Gas power plant in Sri Lanka…
Cinnamon Life to handover office and residential units at two towers in March
Sri Lanka’s largest mixed development, the $1 billion Cinnamon Life project announced the handover of units at ‘The Suites’ residential tower and ‘The Offices’ tower by March 2021, following delays.…
Access Engineering acquire a 50% stake in Lanka AAC Ltd for Rs 131 M
Access Engineering PLC (AEL) has invested Rs. 131 million to acquire a 50 percent stake in the light-weight brick manufacturer, Lanka AAC Ltd. “Access Engineering PLC announces that it has…
Second phase of GRI’s $100M Tyre Project to Be Commissioned in December
Global Rubber Industries (GRI) last week broke ground and laid the foundation stone for the second phase of a $ 100 million project with a new manufacturing facility in Badalgama,…
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President appoints De-Regulation Commission Chaired by Lalith Weeratunga and Krishan Balendra
President Gotabaya Rajapaksa has appointed an 18-member De-Regulation Commission for the Simplification of the Existing Laws and Regulations to spur the growth of the COVID-19 battered economy. The Commission is…
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Sri Lanka faces worst decline as debt crisis looms
Sri Lanka Tuesday announced its worst economic slump with second-quarter GDP plunging 16.3 percent as international concern grows over its ability to repay foreign debt. The department of Census and…