Business

Sri Lanka has inked a deal for a 2 billion Renminbi term loan (approximately Rs 61.5 Billion) today, the Chinese Embassy in Colombo said in a Twitter message. “China Development Bank and Sri Lankan Government has entered into an…

The Sri Lankan rupee has further depreciated to Rs 202.89 against the US dollar. Meanwhile, the buying rate of a rupee stoods at Rs.198.19 against the US Dollar

Both Global and Sri Lankan investors and the business community need a clear and long term debt repayment plan spelt out by the government, Ceylon Chamber of Commerce Chairman Vish Govindasamy said. At a special virtual press…

Softlogic Holdings PLC delivered a robust business performance in 1QFY22 achieving a consolidated top line of Rs. 24.5 billion, up 73% (1QFY21 - Rs. 14.2 billion). The quarterly operating profit was Rs. 2.3 billion (operating loss of…

The Professionals National Front (PNF) alleged that any reform laws governing the Urban Development Authority (UDA) may be part of the Millennium Challenge Corporation (MCC) agenda for land reform in Sri Lanka. They noted that the…

Indian biotechnology company Bharat Biotech has repurposed its Chiron Behring manufacturing plant in Ankleshwar, Gujarat, to scale up production of its anti-Covid vaccine, Covaxin, said people familiar with the development. The…

99x received investment as part of its Capital Restructuring program, an investment of USD 20 million towards its next phase of planned growth. The funds were through an investment from Herkules Deal-by-Deal, a Scandinavian private…

Veteran banker, K.E.D. Sumanasiri assumed duties as the General Manager of Bank of Ceylon, commencing from August 16, 2021. Sumanasiri assumed duties as the 22nd General Manager of the Bank of Ceylon General Manager’s office at the…

Insurer Janashakthi Insurance PLC, announced the appointment of Anil Tittawella as the company’s Chairman with effect from August 11, 2021. Anil Tittawella succeeds Prakash Schaffter, as he steps down from his role as the Executive…