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Arpico Finance and Associated Motor Finance advances with the proposed merger

Arpico Finance Company PLC (AFC) and Associated Motor Finance Company PLC (AMF) announced the merger of two entities subject to the approval of shareholders and the Colombo Stock Exchange (CSE).…

Sri Lanka’s economy contracted by 3.9% in 2020- Central Bank

The Central Bank (CB) expects Sri Lanka’s economy to have contracted by 3.9 percent in 2020 well below its earlier projections. “The marginal decline in the first, and the relatively…

Protectionism To Rise In 2021 States Attempts To Stimulate Domestic Recovery – Economist

Governments in 2021 are likely to ramp up protectionist economic measures in a bid to stimulate domestic recovery from the COVID-19 pandemic despite the interests of the private sector lying elsewhere, Kathmina…

Sri Lanka to ban maize-based alcohol and ethanol production

President Gotabaya Rajapaksa has ordered the Excise Department Chief to issue a gazette notification banning the use of maize (corn) for the production of alcohol and ethanol. The Commissioner is…

Sri Lanka resumes Tourism Activities with the arrival of First Tour Group

Ukrainian low-cost  Carrier, SkyUp brought the first group of tourists to the island nation since March when the country halted foreign tourist arrivals country in order to contain the spread…

Arrival of Russian Tour Group postponed

Russia’s national airline Aeroflot has postponed the scheduled flight to Sri Lanka with 300 Russian tourists as a new strain of COVID-19 spread in the United Kingdom (UK) and across…

Buyer of Piramal Glass Ceylon part of Blackstone Group

ICRA India confirmed that Blackstone Group Inc’acqusition of Piramal Group’s Piramal Glass includes its Sri Lankan unit, Pirmal Glass Ceylon PLC. With the announcement of Blackstone Group Inc’acqusition of Piramal…

Dialog Axiata to acquire Hirdaramani’s H One for Rs 300-350 million

Dialog Axiata PLC has reached an agreement to acquire full ownership of Sri Lanka’s largest reseller of Microsoft enterprise solutions (MSFT) , H one from Hirdaramani Group. “The transaction is…

Sri Lanka waives off the landing and parking fees at Two International Airports

The cabinet of Ministers has approved a proposal to waive landing and parking fees for International airlines in order to attract airlines to Rajapaksha International Airport in Mattala, and Colombo…

Sri Lanka’s fruit and Vegetable industry enters into MOU with WB’s Agriculture Sector Modernisation Project

The Lanka Fruit and Vegetable Producers, Processors and Exporters Association (LFVPPEA) have entered into a memorandum of understanding (MOU) with the World Bank’s (WB) Agriculture Sector Modernisation Project (ASMP) anticipating…