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Mahindra takes 58% stake of Ideal Finance for Rs. 2 bn

Sri Lanka, Aug. 21 -- India's Mahindra & Mahindra Financial Services Ltd will invest Rs. 700 million next month as part of a deal to take 58.2% stake of Ideal Finance Ltd, a subsidiary of Ideal Group.... Read More


Govt grants promised concessions for airlines

Sri Lanka, Aug. 20 -- The government has granted the promised concessions for airlines (in the aftermath of the Easter blasts) at the Colombo Airport to attract more international airlines to fly to S... Read More


RPCs need to reinvest more on replanting - Minister Dissanayake

Sri Lanka, Aug. 12 -- Regional Plantation Companies (RPC) are not re investing as much as private tea smallholders, Minister of Plantation Industries Navin Dissanayake told the 125th AGM of the Colomb... Read More


Local contractors applaud govt's move on expressway contracts

Sri Lanka, Aug. 9 -- The construction industry is pleased that the government has finally awarded an expressway building contract to Sri Lankan companies, President-Elect of Chamber of Construction In... Read More


Mahindra & Mahindra and Ideal Motors to invest Rs 3 bn

Sri Lanka, Aug. 5 -- Mahindra & Mahindra Ltd, a part of the USD 19 billion Mahindra Group based in India, and Ideal Motors Ltd, will break ground on August 17 for a motor vehicle assembly plant in Wel... Read More


'SAARC Movement had virtually done nothing to promote business activities during past 30 years'

Sri Lanka, Aug. 5 -- The SAARC movement had virtually done almost nothing to promote business activities in the region during the past 30 years, said Nepal's only billionaire and Chairman, CG Group Ne... Read More


SLTPB to invest Rs 1,050 mn for Palaly development

Sri Lanka, Aug. 2 -- Sri Lanka Tourism Promotion Bureau (SLTPB) will invest Rs. 1,050 million to assist in the refurbishment and the development of the Palaly domestic airport into an international ai... Read More


Chinese LED, Mobile manufacturers eye Hambantota FTZ

Sri Lanka, Aug. 2 -- The Executive Vice Chairman of the Asia Pacific Exchange and Cooperation Foundation, Xiao Wunan, left Sri Lanka yesterday, after meeting with Prime Minister Ranil Wickremesinghe a... Read More


Govt has taken all measures to make SL safe destination - Premier

Sri Lanka, Aug. 1 -- The government has done everything to make Sri Lanka safe destination for tourists to travel, Prime Minister Ranil Wickremesinghe said at Temple Trees yesterday. The PM assured t... Read More


Binod Chaudhary to invest US$ 150 million in cement plant

Sri Lanka, July 30 -- CG Cement of Nepal owned by Nepal's first billionaire listed as by Forbes, Binod Chaudhary will invest US$ 150 million to set up a cement plant in Sri Lanka. In an interview wit... Read More