Cinnamon Life – Pic by Shehan GunasekaraCommits Rs. 9 b additional investment Pays Rs. 5.98 b to buy 26.7% stake in subsidiary Vauxhall Land Development; to buy balance 13.3% for Rs. 2.99 b by Sept. 2021 to make it 100% subsidiary Original JV entity with Finlays owns 9.38 acre plot of prime land in Vauxhall Street and one of the largest privately held land banks in central … [Read more...] about JKH gets more bullish on property sector
Economy
Rupee will appreciate with SWAP deals: Cabraal
By Chandani KirindeThe Sri Lankan rupee will appreciate once the inflow of foreign exchange begins from the SWAP agreements provided to foreigners who invest in government securities, Money and Capital Markets and State Enterprise Reforms Ajith Nivard Cabraal told Parliament yesterday.Ajith Nivard Cabraal Cabraal made the remark in response to a question raised by SJB … [Read more...] about Rupee will appreciate with SWAP deals: Cabraal
‘Sri Lanka@100’ platform debuts to boost economic prosperity through growth of mid-sized firms
The official launch of the Sri Lanka@100 platform. From left: USAID Mission Director Reed J. Aeschliman, SL@100 CoFounder and Stax MD Dr. Kumudu Gunasekera, SL@100 Co-Founder and Stax MD Ruwindhu Peiris, State Minister of Regional Cooperation Tharaka Balasuriya, and U.S. Ambassador to Sri Lanka and the Maldives Alaina B. Teplitz – Pic by Lasantha KumaraSri Lanka@100, a … [Read more...] about ‘Sri Lanka@100’ platform debuts to boost economic prosperity through growth of mid-sized firms
Motorcycle import ban greatly affects middle-class Sri Lankans: Opp. leader
PROTECTION: A rider wearing a mask waits at a motorcycle park in Colombo.ECONOMYNEXT – An ongoing import ban on motorcycles has affected a large number of middle-class Sri Lankans, Opposition Leader Sajith Premadasa said. The ban has negatively affected rural and urban populations as well as state and private … [Read more...] about Motorcycle import ban greatly affects middle-class Sri Lankans: Opp. leader
President-led first Export Development Council kicks off new initiatives
After 28 years Exports Development Council convenes under the patronage of the President President says many signed trade agreements not favourable for SL, stresses need to review expeditiously to be beneficial to the economy Removes para tariffs on industrial raw materials to make exports more competitive Introduces Export Reward Scheme from 1 October to 31 March 2021 to … [Read more...] about President-led first Export Development Council kicks off new initiatives
Cabinet approves forex-risk-free foreign investments in Govt. bonds
Central Bank Special benefit only if investments are held to maturity; any sale before maturity will incur penalty though enjoying same exchange rate at the time of buying Minimum investment set at $ 25 m and maximum at $ 1 b Any exchange loss due to depreciation will be set-off by Central Bank when transferring profits to Treasury Foreign investments in Government … [Read more...] about Cabinet approves forex-risk-free foreign investments in Govt. bonds
20A to Parliament today with Govt. MPs’ backing
President briefs Cabinet and Govt. Group ahead of 20A Bill tabling in Parliament today by Justice Minister Ali Sabry Says 20A interim measure until new Constitution introduced First Bill to be tabled in House by new Govt. By Chandani Kirinde President Gotabaya Rajapaksa yesterday won unanimous backing for the 20th Amendment to the Constitution from both Cabinet as well as … [Read more...] about 20A to Parliament today with Govt. MPs’ backing
Politics of MR’s cow slaughter ban
In spite of MR’s denial there is no doubt that the ban will affect the Muslim community directly. Majority of the country’s beef eaters and beef suppliers are Muslims, and thousands will be thrown out of employment when the ban comes into effect – Pic by Shehan Gunasekara Prime Minister MR’s announcement to ban cow slaughter is yet another measure to please Sinhala Buddhist … [Read more...] about Politics of MR’s cow slaughter ban
Investments on the rise: BOI
Says agreements worth $ 1.5 b signed in the first nine months; 2020 target is $ 2-2.5 b The Board of Investment (BOI) says agreements to the value of $ 1.5 billion have been approved in the first nine months of this year from the 2020 targeted figure of $ 2-2.5 billion. BOI Director General Sanjaya Mohottala BOI Director General Sanjaya Mohottala said of the value … [Read more...] about Investments on the rise: BOI
Stellar week in ‘super September’ for CSE
Colombo Stock Exchange Main indices gain by over 5% with average turnover of over Rs. 3 b The Colombo stock market yesterday ended a stellar week in what is widely regarded as “super September” with the main indices gaining by over 5% and turnover averaging a robust Rs. 3 billion plus.If the rally post-COVID-resumption was driven by local high-net-worth investors and … [Read more...] about Stellar week in ‘super September’ for CSE
