Rupee depreciates to Rs 202.89
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
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Business
Govt needs to present clear and long term debt repayment plan – CCC
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 posts consolidated topline of Rs. 24.5 bn in 1QFY22
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…
UDA reforms tied to the MCC agenda – PNF
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…
Bharat Biotech re-adapts plant to raise production
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 receives USD 20 mn investment from Private Equity
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…
K.E.D Sumanasiri assumes duties as BOC’s GM
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…
Anil Tittawella Chairman, Janashakthi Life
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…
Co-Operative Insurance announces IPO
Sri Lankan insurer Co-Operative Insurance, recently announced their plans to go for its first Initial Public Offering (IPO) in 2021 following a commanding financial performance for the past year. The IPO will be managed by the Merchant…
Access Engineering records Rs. 550 mn profits in 1Q22
Access Engineering PLC, engineering company interim financial statements for the 3 months ended 30 June 2021 saw them record an impressive after tax profit of Rs. 550 million at the Company level for the quarter with a corresponding…