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Arjun Aloysius’ W.M. Mendis & Co Ltd obtained Rs.7B-worth loans from two State Banks by mortgaging the same property

The Committee on Public Enterprises (COPE) recently observed that W.M. Mendis & Co Ltd has obtained loans by mortgaging the same property in Bank of Ceylon (BOC) and People’s Bank.…

Japan Donates US$ 1.5M Worth of Medicines To Sri Lanka through UNICEF

The Government of Japan is giving essential medicines to Sri Lanka through UNICEF to meet the urgent needs of the most vulnerable population as the country grapples with shortages due…

Ceylon Chamber meets Sri Lanka’s Political Leaders to discuss economic and political crises

The Ceylon Chamber of Commerce officials met with the leaders of several key political parties during the last 4 days to discuss the serious economic and political challenges faced by…

JPMorgan backs Sri Lanka bonds on bets that crippling crisis to ease

(Reuters) – U.S. investment bank JPMorgan backed Sri Lanka’s crisis-hit government bonds on Wednesday, saying recent political changes in the country should gradually improve its strains and help its talks…

Stock Market backslides to the red territory

Colombo Bourse closed in the red zone on Wednesday after consecutive gains during the last three trading sessions as a selling spree emerged, First Capital Research said. Following the long…

Sri Lanka to replace ‘unrealistic’ budget, in talks to extend World Bank aid

(Reuters) – Sri Lanka plans to replace its current “unrealistic” budget and is in talks with the World Bank to extend its support by $300 million to $700 million, the…

Sri Lankan shares jump as Expolanka, LOCL surge

Sri Lankan shares extended sharp gains for a second straight session on Thursday, as beaten-down heavyweight industrial and financial stocks surged. The CSE All-Share index closed 4.55% higher at 7,611.43.…

Sri Lanka begins talks with China on refinancing debt

 (Reuters) – Sri Lanka has begun discussions with China about refinancing its debt, a cabinet spokesman said on Tuesday, as Colombo struggles with its worst financial crisis in decades. China…

COPE seeks CID to investigate officials’ claims on lost financial data of Building Materials Corporation due to software glitch

State-Owned Building Materials Corporation (BMC) has failed to prepare financial statements since 2016, Committee on Public Enterprises¬†(COPE) revealed. This was revealed at the COPE meeting chaired by Prof. Charitha Herath…

Conrad Dias takes the helm at Sri Lanka’s largest NBFI, LOLC Finance

Conrad Dias, the previous Chief Executive Officer of LOLC Finance PLC assumed duties as the Non-Executive Chairman of LOLC Finance PLC. In alignment with the financial sector consolidation plan of…