Business

Magicbit, an easy-to-use STEM education platform, raised USD 120,000 in its pre-seed financing round led by Sri Lanka’s Angel Fund. Magicbit allows students as young as 10-years to build inventions using technologies like IoT,…

For the first time in Sri Lanka, Abans Electricals will be moving to the manufacture of Air conditioners in Sri Lanka and also refrigerators. The total investment for the two projects would be in the excess of Rs. 3.5 billion in two…

For the first time in Sri Lanka, Abans will be moving to the manufacture of Air conditioners in Sri Lanka and also refrigerators. The total investment for the two projects would be in the excess of Rs. 3.5 billion in two stages.…

LOLC Life Assurance Limited and LOLC General Insurance Limited, two of the fast-growing Insurance companies in Sri Lanka were recognised for their profound commitment to their staff at the recent Asia’s Best Employer Brand Awards 2021…

The Bourse ended the week on a positive note this week with ASPI increasing by 291.41 points (or 3.03%) to close at 9,915.22 points, while the S&P SL20 Index also increased by 59.11 points (or 1.67%) to close at 3,605.72 points.…

Allianz Lanka once again partnered with other Allianz offices from around the world to raise much-needed funds to mitigate critical issues facing countries ravaged by the COVID-19 pandemic, via the Allianz World Run, an initiative that…

Ambassador of Malaysia to Sri Lanka, Tan Yang Thai, recently met with a delegation from the Palm Oil Industry Association Sri Lanka (POAISL), to discuss the benefits of a collaborative approach towards uplifting Sri Lanka’s rural…

Shares in embattled Chinese property giant Evergrande opened up 6% in Hong Kong after Chinese media reported it had made an interest payment before a crucial deadline. The company missed an $83.5m (£61m) payment last month,…

Jason Avanceña has been appointed Managing Director of Nestlé Lanka PLC effective 1 October 2021 and will lead Nestlé’s operations in Sri Lanka and the Maldives. He takes over from former Managing Director, Fabrice Cavallin, who moved…

The Governor of the Central Bank Ajith Nivard Cabraal had discussions with the Governor of Qatar Central Bank (QCB) Sheikh Al-Thani, one of the longest-serving Governors in the world last week. The duo also discussed ways and…