Prime Lands IPO Oversubscribed On Opening, Offers Additional 87.5M Shares
The Initial Public Offering (IPO) of 100,000 ordinary voting shares of Prime Lands Residencies (PLR) was oversubscribed on Colombo Stock Exchange (CSE) on its opening today (11th), triggering the company…
Virtusa Founder and CEO Kris Canekeratne To Step Down Ending 25-Year Run
Virtusa Co-Founder and CEO Kris Canekeratne is setting down at- end of this June after growing the Global business consulting and IT outsourcing provider to $1.3 billion in revenue. Canekeratne along…
Sri Lankan Consumers Shifts to dining from home at a Uber Speed in 2020 – CAL Research
In line with the global shift in course towards dining from home, the Sri Lankan private consumption expenditure on dining out in restaurants and hotels experienced a steep decline whilst…
Sri Lanka’s Banking Sector’s MSME Lending Portfolio Among Weakest in Asia-Pacific
Despite much hype, Sri Lanka’s banking sector’s to Micro, Small and Medium-sized Enterprises (MSMEs) lending portofolio is one of the poorest in the Asia-Pacific region in terms of loan disbursements…
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Mobitel extends the lead over Dialog in user experience, while Hutch emerges as the most improved in Q42020
Sri Lanka’s State-owned mobile telco operator, Mobitel extended its lead over Dialog Axiata in mobile network experience while Hutch emerge as the most improved mobile telco operator in Q42020. Holding…
Sri Lanka: Chinese come calling
by Col R Hariharan Chinese defence minister’s visit The recently held Quad summit, which transformed an informal framework of the US, India, Japan, and Australia, into a formal grouping with…
Prime Lands Residencies Expects Rs.10B Cashflow from Pre-sold units over next 2-3 years
The latest IPO entrant to Colombo Stock Exchange (CSE), Prime Lands Residencies (PLR) expects nearly Rs 10 billion cash flow over the next 24-36 months from its pre-sold apartments stock,…
Intermediate Care Facility at Jetwing Beach by Ninewells Start Welcoming Covid-19 Positive Patients
The 5-star Jetwing Beach Hotel in Negombo today (3rd of May) started operations as an Intermediate Care Facility in partnering with Access Group’s Ninewells Hospital to offer world-class health & safety with…
Sri Lanka Declares Worst Economic Downturn in 73 years
(AFP) : Sri Lanka announced Friday that its economy shrank 3.6 percent last year due to the Covid-19 pandemic, making it the worst downturn since independence from Britain in 1948.…
JLL Sri Lanka Joins SLASSCOM with Plans to Invest in Proptech Start-ups
Eyeing emerging Proptech Start-ups, Leading global commercial real estate services firm, Jones Lang LaSalle Incorporated (JLL)’s Sri Lankan unit joined the Sri Lanka Association for Software and Service Companies (SLASSCOM) which is…