Economic
Business tycoon Harry Jayawardena-controlled Melstacorp Group has acquired Ishara Nanayakkara-fame Browns’ hospital business for Rs. 1.6 billion in a move to get aggressive in the booming healthcare industry.
REUTERS: Markets fell after two straight days of gains, weighed down by financial, industrial and consumer discretionary stocks.
CBSL yesterday submitted its observations regarding the Forensic Audit report to the Committee on Public Finance yesterday in keeping with a directive given by the Committee to do so.
The Hotels Association of Sri Lanka (THASL) is crying foul over the licence levy based on 1% of turnover that the Municipalities and Provincial Councils are proposing to charge exclusively on the hotel industry, where all other industries are charged Rs. 6,000 as trade licence fees.
The Monetary Board, with the concurrence of the Minister of Finance, Economy and Policy Development has appointed Assistant Governor, . K M Mahinda Siriwardana as a Deputy Governor of the Central Bank of Sri Lanka (CBSL) with effect from 12th February 2020.
Earnings from exports declined while expenditure on imports increased during December 2019, widening the trade deficit. During the year 2019, the trade deficit contracted significantly, driven by a sharp contraction in import expenditure, Central Bank announed
The government will be taking measures to revitalise loss-making and defunct state-owned enterprises.
Deutsche Bank will be investing in Sri Lanka and launching a major push into the corporate client market, with the rollout of a new digitally-enhanced foreign exchange (FX) platform.
Sri Lanka’s tourism sector earnings were provisionally estimated at US dollars 3,592 million during 2019, compared to US dollars 4,381 million during the corresponding period of 2018, latest Central Bank statistics revealed.
Secretary to the Ministry of Finance S.R. Attygalle says that Government’s withdrawal of the proposed amendment to the Vote on Account (VoA) to raise additional funds will inconvenience over 150,000 people including contractors, sub contractors, suppliers and family members of the employees.
Sri Lanka Airlines (SLA) is in consultation with the Attorney General’s (AG) Department to initiate legal action to recover the maximum possible amount in compensation from Airbus company which is at the centre of a bribery scandal but Sri Lankan is also looking to procure two widebody aircraft from the company to operate long haul flights, Chairman Ashok Pathirage told the Parliamentary Committee on Public Enterprise (CoPE) yesterday.
The possibility of vesting the administration of the $ 1.4 billion Port City project under a new authority with direct oversight of President Gotabaya Rajapaksa is among several options being considered by the committee appointed by the Government to review the project.
Business tycoon Harry Jayawardena-controlled diversified conglomerate Melstacorp PLC has acquired 100% control of Browns Health Care (Pvt) Ltd from Brown and Company PLC for an estimated Rs. 1.6 billion, company officials said.
Two new committees for project inspection and land to speed up approvals
Taskforce set up to improve single window for investments with improvements to online services
The Dialog Axiata Group has concluded the 2019 financial year on a strong note, continuing its growth momentum across all business segments viz. Mobile, Fixed Line, Digital Pay Television, International and Tele-infrastructure businesses.
The Constitutional Council (CC) yesterday approved the appointment of Sanjeeva Jayawardena PC as a Member of the Monetary Board of the Central Bank of Sri Lanka.
Dialog Axiata Group, the largest Foreign Direct Investor (FDI) operating under the aegis of the Board of Investment of Sri Lanka (BOI), yesterday announced the entering into of two supplementary agreements with the BOI for the investment of an additional $ 254.1 million (Rs. 46.1 billion) in Sri Lanka’s ICT infrastructure.
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