Covering the latest developments in the business world, including mergers and acquisitions, new product launches, executive changes, and company earnings reports.
The Embassy and Permanent Mission of Sri Lanka inaugurated the Sri Lanka Pavilion at the prestigious 70th Bangkok Gems and Jewellery Fair on September 9, marking a key moment in Sri Lanka’s global trade efforts. The event was officially inaugurated by Thailand’s Ministry of Commerce Permanent Secretary, Vuttikrai Leewiraphan, highlighting the collaborative relationship between Sri
The Ceylon Institute of Builders (CIOB) has unveiled plans for the Construction Expo 2025, scheduled to take place from March 14 to 16, 2025, at the Sirimavo Bandaranaike Memorial Exhibition Centre, BMICH. Dr. Rohan Karunaratne, President of CIOB, emphasized that achieving a 9.6% contribution to Sri Lanka’s GDP from the construction sector requires at least
Sri Lanka’s wage board has announced new daily wage rates for tea and rubber workers effective from September 10, as detailed in a recent gazette notice. The minimum daily wage has been set at 1,350 rupees for a standard ‘norm’ of each estate. Additionally, workers will receive an extra 50 rupees for every kilo of
Sri Lanka’s Planters’ Association (PA), representing the managers of the island’s commercial farms growing tea, rubber, coconut, and palm oil, is celebrating its 170th anniversary this year. Founded in 1854, the PA is one of Sri Lanka’s oldest institutions, dedicated to representing and safeguarding the interests of the plantation sector. Known for producing Pure Ceylon
LOLC Group is set to make a Rs. 3 billion takeover bid for Sierra Cables following the acquisition of a 30% stake in the company. The move comes after Browns Investments PLC, the strategic arm of LOLC Group, through its wholly owned subsidiary Iconic Trust Ltd., purchased 6.65 million shares of Sierra Cables at Rs.
Jaya Container Terminals Ltd. (JCT Ltd.), a subsidiary of the Sri Lanka Ports Authority (SLPA), recently celebrated its 16th anniversary, marking a significant milestone in the Sri Lankan maritime industry. Since its establishment in 2008, JCT Ltd. has grown into a key player, consistently exceeding revenue and profitability expectations. Chairman and Attorney-at-law Lakmal Ratnayake attributed
The price of Milco milk powder has been reduced, with the new prices coming into effect from today (10th September). Consumers will now benefit from a Rs. 75 reduction on the 400g packet, bringing the price down to Rs. 1050. Meanwhile, the 1kg packet has seen a price cut of Rs. 190, setting the new
The Joint Apparel Association Forum (JAAF) has called on the Sri Lankan government to urgently address the challenges surrounding the issuance of short-term business visas, which have been suspended since August 2, 2024. JAAF highlighted that foreign business visitors—including buyers, machinery suppliers, and technical service providers—are encountering significant obstacles when attempting to enter Sri Lanka
Sri Lanka’s Commercial Bank of Ceylon PLC has officially completed the liquidation of its subsidiary, Commex Sri Lanka S.R.L., located in Rome, Italy. The bank first announced the voluntary liquidation of the wholly-owned subsidiary in August 2022. The final procedures have now been concluded, and Commex Sri Lanka S.R.L. has been deregistered from the Chamber
LTL Holdings, one of Sri Lanka’s leading power conglomerates, announced plans for an Initial Public Offering (IPO) to raise Rs. 16 billion, marking the largest IPO in Sri Lankan history. The offering comes with a greenshoe option to extend the total to Rs. 20 billion. CEO Nuhuman Marikkara stated that Rs. 13.5 billion of the