Cabinet directs Legal Draftsman to draft the Colombo Ports Commission Bil
The Cabinet of Ministers has approved a proposal instructing the Legal Draftsman to draft the Colombo Ports Commission Bill to place Colombo Port City as a leading investment hub in…
Sri Lanka’s Telephone Penetration Drops in 3Q2020
Sri Lanka’s telephone Penetration (including Cellular Phones) declined by 19.3 percent in the third quarter of last year compared to one year ago. Sri Lanka’s telephone Penetration stood at 164.1…
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 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…
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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…