Cheese and wine

Cheese and wine

Celebrated at A lliance Française of Kotte as part of French Spring Festival

The French Spring Festival is an occasion for people in France to celebrate art and culture, and the Alliance Française of Kotte, which the recognised and accredited branch of the Alliance Française in Paris, gave prominence to one important aspect of French culture, which is gastronomy.

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Prime Group introduces Proptech

Prime Group introduces Proptech

Sri Lanka’s first real

property e-commerce website

Are you planning on buying a land, building a house, or thinking about purchasing an apartment? Don’t think too much. Prime Group is taking the worry away from you. On 6 August 2019 – Prime Group launched “Prime Hot Deals” – Sri Lanka’s first ever real estate e-commerce website, expected to revolutionise the real estate sector of Sri Lanka.

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OURS IS A CSR OPERATION -DLB Chair and CEO S.A.P. Suriyapperuma

OURS IS A CSR OPERATION -DLB Chair and CEO S.A.P. Suriyapperuma

In 1983, the then Minister of Trade and Shipping Lalith Athulathmudali inaugurated the Mahapola Lottery, which eventually became the Development Lotteries Board (DLB). Today, it remains the only public institution to donate its dividends to the President’s Fund. From the beginning, the intention was, not to make money for the government, but to provide vital services to the needy people of the country.

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Bogambara Cultural Park

Bogambara Cultural Park

Will bring considerable benefits to Kandy

A ceremony was held on 24 August 2019 at the site of the Bogambara Prison Complex Redevelopment to announce the opening of Phase I of the project for the Bogambara Cultural Park.

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Proposed amendments to CSE Listing Rules

Proposed amendments to CSE Listing Rules

to cover a broader base of corporates and improve IPO process

The Colombo Stock Exchange (CSE), in consultation with the Securities and Exchange Commission of Sri Lanka (SEC), is proposing to revise the regulatory framework governing the initial listing of shares on the CSE.

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Mahindra’s foray into Lankan market With automotive assembly plant

Mahindra’s foray into Lankan market With automotive assembly plant

India’s auto major, Mahindra & Mahindra (M&M) launched an automotive assembly plant in Welipenna, in the Matugama area recently.

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Getting the youth On Back Track

Getting the youth On Back Track

The numbers tell it all. Around 23.4 % of the country’s population is made up of young people, specifically those between the ages of 15 and 29 years.

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Sugano comes to Lanka

Sugano comes to Lanka

Under BOI Agreement, Japanese investor to begin manufacturing flexible packaging for Sri Lankan tea Industry

BOI Chair Mangala Yapa, formally presents the Certificate of Registration to Sugano Packing Material Ltd Managing Director Yusaku Sugano. Director Dinesh Dahanayake, looks on.

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VAT concessions from September

VAT concessions from September

Proposed in last budget

The Cabinet of Ministers has approved the tax amendments proposed by Finance Minister Mangala Samaraweera in his Budget 2019, according to a press release from the Ministry of Finance. The Cabinet has, accordingly, approved the Amendment Draft Bills on Nation Building Tax (NBT) and Value Added Tax (VAT).

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SEC, CSE and FITIS engage  tech companies on capital raising opportunities

SEC, CSE and FITIS engage tech companies on capital raising opportunities

The Colombo Stock Exchange (CSE), in association with the Securities and Exchange Commission, continued their drive to raise awareness, about accessing funding through public markets among potential issuers, by organising an exclusive forum for the membership of the Federation of Information Technology Industry Sri Lanka (FITIS) recently.
Tech companies present at the Forum were offered perspective on capital raising opportunities available through going public. The event also featured a special discussion on the Empower Board launched by the CSE. Speaking at the event, the Chairman of FITIS Abbas Kamrudeen outlined the importance of the IT industry, and all stakeholders, taking the initiative to drive digital transformation in Sri Lanka; while noting that equity-based funding will offer IT companies opportunities to pursue growth and realise value.

The CEO of CSE Rajeeva Bandaranaike highlighted the multiple entry channels available for companies to list on the stock exchange, noting that with the launch of the Empower Board, CSE now has the capacity to cater to both large and SME type equity placements. He went on to note that a listing on the CSE is a hallmark of prestige and a strong appetite for new equity listings among both local and international investors indicate strong fund-raising potential for companies.

Public

The Forum also offered insights on why a new wave of tech companies globally are accessing funding through public markets, and key learnings from recent large international tech IPOs, through a presentation by the Head of Investment Banking at CAL, Vishnu Balachandran. The presentation also featured key insights into why Sri Lankan companies should consider going public, timing an IPO and the benefits of listing on a stock exchange as opposed to accessing more traditional sources of funding. The Director of External Relations at SEC, Tushara Jayaratne joined the speakers in a panel discussion focused on the common misconceptions with relation to listing on the stock exchange, the process involved and practical implications for tech companies when accessing public funding considering the unique nature of the industry. The event also presented a platform for companies to engage and further discuss the prospect of a stock exchange listing with Empower Board Sponsors who were present. Empower Sponsors play a pivotal role guiding companies interested in listing on the Empower Board.

Capital Raising Forums conducted in collaboration with industry associations are a key part of the CSE-SEC initiative to create awareness among potential issuers, in addition to a series of regional forums conducted for SMEs based around the country. The next event in this series is set to take place in Jaffna on 24 August. Details on the eligibility of listing and the process involved could also be obtained through www.cse.lk

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