Sri Lanka to Double Fresh Milk Production by 2024
The government aims to double the local fresh milk production to meet 80 percent of the country’s consumption by 2024, Prime Minister Mahinda Rajapaksa announced in Parliament yesterday. He said…
Hacktivists deface multiple local domains, including Google.lk
A mysterious group of hacktivists has poisoned the DNS records of several Sri Lankans (.lk) websites on Saturday and redirected users to a web page detailing various social issues impacting…
Investment decline in productive assets spells trouble for poorer nations
Although developing countries attracted a record share of global foreign direct investment in 2020, finance for infrastructure and productive sectors fell significantly, weakening their COVID-19 recovery prospects. Foreign direct investment…
Sri Lanka halts port deal with India and Japan
Sri Lanka on Tuesday scrapped a deal to develop a major port terminal with India and Japan amid weeks-long protests by trade unions and opposition parties while India called on…
Adani Group’s T K Kannan appointed to Watawala Plantation Board as an Alternate Director
Adani Group’s T K Kannan is appointed as an Alternate Director to Madhu Ramachandra Rao in the Board of Sri Lanka’s Watawala Plantation PLC with effect from today. Kannan, who…
Sri Lankan shares drop most in nearly four months as financials, industrials fall
(Reuters) Sri Lankan shares on Tuesday suffered their worst single-day fall since October, led by sharp declines in financial and industrial stocks. Sri Lanka’s CSE All Share Index ended 6.56%…
IFS growth outperforms market in 2020 with 26% increase in software revenue
IFS, the global enterprise applications company has seen a 26% Year-on-Year increase in software revenue, according to its financial results for the full year ended December 31, 2020. 2020 saw widespread…
Rupee to depreciate by 12% in 2021- First Capital
Sri Lanka’s First Capital Research expects LKR to depreciate approximately by 12 percent during this year. “With the weak foreign currency reserve position, high foreign currency debt repayment and a…
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.…
The World’s Best Stock Rally Is in Sri Lanka – Bloomberg
Sri Lanka stocks have returned a world-beating 30% so far in 2021 as domestic investors get more active, Bloomberg reported yesterday. Local traders have bought a gross Rs 155 billion…