The Free Trade Zone Manufacturers Association (FTZMA), the sole trade chamber representing export-oriented companies under the purview of the Board of Investment (BOI), extended its congratulations to the National People’s Power (NPP) for its landslide victory in the recent General Elections. In a statement, the FTZMA lauded the NPP’s success as a testament to the
The Sri Lanka-Indonesia Business Council (SLIBC) of The Ceylon Chamber of Commerce successfully concluded a Business Promotion Mission to Indonesia from 6 October to 11 October 2024. The mission aimed to strengthen trade, investment, and business ties between Sri Lanka and Indonesia while exploring collaborative opportunities across key industries. The delegation included 14 Sri Lankan
Hela Apparel Holdings PLC has successfully raised Rs. 1,596,826,135 through its recent rights issue, marking a significant step in the company’s financial strategy. The issue offered 319,365,227 Ordinary Voting Shares to existing shareholders on a proportional basis and was oversubscribed, showing strong backing from shareholders, including the company’s top three stakeholders. The funds raised will
As of October 11, 2024, the gold prices in Sri Lanka are as follows: For those looking to invest in gold, 1 gram of 22 Carat gold is priced at Rs. 25,080.
The Sri Lanka-Canada Business Council (SLCBC) held a crucial briefing with Prime Minister Dr. Harini Amarasuriya on October 10, 2024, in Colombo, as part of their preparations for an upcoming mission to Canada. During the session, the SLCBC delegation outlined their key goals to strengthen trade, investment, and economic ties between Sri Lanka and Canada.
The World Bank and the Government of Sri Lanka signed the Second Resilience, Stability, and Economic Turnaround (RESET) Development Policy Operation (DPO) yesterday, securing an additional $200 million in support. This marks the second installment of a two-part series that began in 2022, following the initial $500 million disbursed in June and December 2023. The
The International Finance Corporation (IFC), the private sector investment arm of the World Bank, has secured a 14.73% stake in Sunshine Healthcare Lanka Ltd. for Rs. 3.27 billion. Originally announced earlier this year, Sunshine Healthcare confirmed on Friday that the transaction was completed with the issuance of 1.9 million shares on October 3, following the
Hela Apparel Holdings Plc, a leading apparel manufacturer in Sri Lanka, has successfully raised Rs 1.5 billion through a rights issue, according to a stock exchange filing. The company issued 319,514,110 ordinary voting shares, raising Rs 1,597,570,550 in total. The company previously announced in June that the funds from the rights issue would be allocated
In a significant display of investor confidence following the election of President Anura Kumara Dissanayake, the Colombo stock market surged to record its largest daily gain in 2024. The All Share Price Index (ASPI) leapt by 237.31 points (2.14%), and the S&P SL20 followed with a 75-point increase (2.36%). Turnover hit Rs. 2 billion, involving
Sri Lanka’s rupee opened steady at 298.90/299.00 against the US dollar on Thursday, according to market dealers. Bond yields saw a rise, and the Colombo Stock Exchange (CSE) opened with a 0.42 percent gain. Bond Market Performance: Stock Market Update: Sri Lanka’s financial markets remain volatile, with currency stability and bond yield fluctuations reflecting global