Economic
MAS Holdings yesterday announced that one of its subsidiaries, MAS Brands, which owns and operates the retail lingerie business under the brand amanté, was acquired by Reliance Retail Ventures Ltd., a subsidiary of the Ambani-owned Reliance Industries. The amanté business, which was established by MAS in 2007/8, engages in the retail and wholesale distribution of premium lingerie brands amanté, Ultimo and every dé by amanté. The company sells its product through its own stores and multi-brand outlets, as well as through its e-commerce channels across India and Sri Lanka.
The Central Bank of Sri Lanka (CBSL) this week further justified its gazette requiring early conversion of export earnings, saying requirements and concerns of all stakeholders have been addressed whilst prioritising national interest.
Proposals from VIASL include viable long-term solution for vehicle importation, prevention of tax evasion by vehicle manufacturing and assembling industries, introduction of GAAI certificate and control of local vehicle prices
In its standing as the National Body of Accountants, officials of the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) recently met with Minister of Finance Basil Rajapaksa, and the Secretary to the Treasury S.R. Attygalle, to discuss the upcoming National Budget for 2022.
ඔක්තෝබර් අවසානය වනවිට ලංකාවේ නිල සංචිත ප්රමාණය ඩොලර් මිලියන 2,267.5 දක්වා තවදුරටත් පහත බැස තිබෙනවා. මෙම ප්රමාණයට රන් සංචිත හා ජාත්යන්තර මූල්ය අරමුදලේ ඇති සංචිතත්, ජාත්යන්තර මූල්ය අරමුදලෙන් මෑතකදී ලැබුණු ඩොලර් මිලියන 787 ක් පමණ වටිනා SDR ප්රදානයෙන් නොවිකුණා ඉතිරිව ඇති ප්රමාණයද ඇතුළත්.
Ceylon Tobacco Company PLC (CTC) yesterday announced a 28% reduction in third quarter top and bottom line due to the COVID pandemic third wave-induced restrictions.
Aimed at riding its next growth wave, Sri Lanka’s pioneer e-commerce enterprise Kapruka is to list on the Colombo Stock Exchange via a Rs. 500 million Initial Public Offering (IPO).
The coconut products sector aims to explore prospects for exports to Europe via the International Plant Messe (IPM) Essen in Germany early next year.
Hemas Holdings PLC said yesterday it delivered a strong first half amidst a challenging operating environment with half of the second quarter being under lockdown.
The Tea Exporters Association (TEA) expressed confidence that the industry is likely to achieve the set targets of 280 million kg and $ 1.3 billion by end of this year, despite the multiple internal and external challenges.
The Central Bank (CBSL) has established a new department named the Foreign Remittances Facilitation Department (FRFD) to facilitate and streamline workers’ remittances inflows to the country, under the provisions of the Monetary Law Act No. 58 of 1949.
PricewaterhouseCoopers (PwC) yesterday presented its latest assessment of the Port City’s economic impact to the Economic Commission. The assessment evaluates the potential impact of the Port City Colombo across five key macroeconomic variables: Employment, Gross Domestic Product, Foreign Direct Investment, Balance of Payments and Government Revenue.
Two Citrus Leisure Plc hotels have reopened for international and local tourists since last Friday.
Reuters: Shares logged record closing levels for the third straight session on Friday, propelled by strong gains in financial stocks.
The Hambantota International Port (HIP) recently facilitated the shipment of locally manufactured trailers, marking the beginning of its services to the local exporters as a gateway port.
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