Sri Lanka Financial News

external affairs ministry announced that, as part of its development assistance programme, India has extended 308 lines of credit aggregating to $32.02 billion to partner countries over the years. Of this, about $17.06 billion has been extended to Asia, $12.15 billion to Africa and $2.81 billion to others, it said. Around 600 projects have been taken up and executed in several sectors, including infrastructure, power, connectivity, agriculture, education and health, the minister of state for external affairs V Muraleedharan informed the Rajya Sabha on Thursday. He said grant assistance projects are concentrated primarily in India’s neighbourhood in Afghanistan, Bangladesh, Maldives, Myanmar, Nepal, Sri Lanka and Bhutan. “India’s developmental projects are based on the needs and aspirations of the partner countries. The main instruments of support include lines of credit, grants-in-aid as well as capacity building programmes.

Mint’s queries till press time. Furthermore, the two countries are now exploring opportunities in Asia, expanding their focus beyond Latin America and Africa.

Varun Beverages Ltd, the manufacturer, bottler and distributor of PepsiCo products, which helps the American company stay nimble by keeping it free of burdens that come with manufacturing and selling FMCG goods. Steady growth of Varun Beverages in recent years, despite Covid disruptions, has made it a darling of the markets.

Innova Captab is rolling out a ₹570-crore IPO that includes a fresh issue of ₹320 crore and the rest an offer for sale. The promoters Manoj Kumar Lohariwala and his brother Vinay Kumar Lohariwala are diluting their stakes from 67% to 52%. Of the issue proceeds, ₹168 crore would be used toward debt repayment and ₹72 crore for working capital requirements. Business: Incorporated in 2005 as Harun Health Care, Innova Captab is a leading contract manufacturer of pharmaceutical formulations.

Asian buyers, who are scrambling for cheaper alternatives, particularly as New Delhi is unlikely to lift the curbs before general elections next year. The world's biggest exporter of onions banned shipments on Dec. 8 after domestic prices more than doubled in three months following a drop in production. Now retail shoppers from Kathmandu to Colombo are struggling with high prices, since traditional Asian buyers, such as Bangladesh, Malaysia and Nepal, and even the United Arab Emirates, rely on imports from India to bridge domestic gaps.

NEW DELHI : Jubilant FoodWorks Ltd, which operates master franchise rights from Domino’s Pizza in India, has announced a brand refresh for its flagship pizza brand that involves upgrading hundreds of pizza stores, apart from new packaging and a marketing campaign as the company hopes to get more consumers to choose pizza over local food. “India is a $50-billion food services market; pizza is only a $1-billion market. Our job is to gain share from dosa-sambar, vada pav, samosa, etc.

Varun Beverages Ltd (VBL), one of PepsiCo’s largest franchise bottlers worldwide, announced the acquisition of South Africa-based Beverage Company (Bevco) along with its wholly-owned subsidiaries at an enterprise value of Rs 1,320 crore, on Tuesday. The proposed transaction is valued at an enterprise level of ZAR 3 billion (Rs 1,320 crore) and will help it expand its geographical footprint in the African market, the company said in a stock exchange filing. BevCo, which has franchise rights from PepsiCo Inc, in South Africa, Lesotho and Eswatini, manufactures and distributes licensed PepsiCo and own-branded non-alcoholic beverages in South Africa.

India is negotiating free trade agreements with the European Union (EU), the UK, Sri Lanka, and Peru, according to a year-end review statement of the commerce ministry. India-European Union (EU) free trade agreement negotiations were formally re-launched on June 17 2022.

₹341 crore), Temasek ( ₹328 crore), a local Thai partner ( ₹11.9 crore) and local debt. The consideration implies an acquisition valuation of 0.9 times FY23 enterprise value/sales and about 7.5-8 times EV/Ebitda. Quick-service restaurants (QSRs) in the Indian market are currently struggling to boost growth.

₹20.50 crore at the Indian Premier League (IPL) 2024 mini-auction on Tuesday, December 19. Follow IPL Auction 2024 Live Updates here Pictures of Maran went viral social on Tuesday as social media users took notice of "a big smile on her face" after SunRisers Hyderabad bought Sri Lankan leg-spinner Wanindu Hasaranga at the base price of ₹1.5 crore. She is a well-known name in the IPL and has, time and again, grabbed attention during the matches.

IPL auctions 2024: The IPL teams are engaged in some intense bidding war in Dubai and the numbers are looking phenomenal in the IPL auction 2024. Australian skipper Pat Cummins was picked up by the Sunrisers Hyderabad for a whopping ₹20.5 crore, making him the most expensive player in the history of IPL. As the deal was sealed, social media was abuzz with reactions with users questioning the rationale of the team, who purchased Sri Lankan all-rounder Wanindu Hasaranga for just ₹1.5 crore.

Josh Hazlewood, who has been tipped to create ripples in auction room, will be available for IPL 2024 only from the first week of May, as per the BCCI intimation to the teams. Hazlewood, who played an integral role in Australia's recent ODI World Cup win, will be away in March and April as the pacer and his wife are expecting their first child. Hazlewood, who was released by the Royal Challengers Bangalore, has been bracketed in the top-of-the-line Rs 2 crore base price category in the player auction to be held in Dubai on Tuesday.

Sri Lanka Navy has arrested 14 Indian fishermen and seized their trawler for allegedly poaching in the island nation's waters, taking the total number of arrests this year to nearly 240. These fishermen were arrested on Sunday off the coast of Karainagar in the northern Jaffna peninsula, the Navy said in a release on Monday.

Israeli government on Sunday approved the appointment of Reuven Azar as the new Ambassador to India. Azar, who is in his late 50s, will also serve as the non-resident Ambassador to Sri Lanka and Bhutan, a statement from the Israeli Ministry of Foreign Affairs said. His appointment is one of the 21 new Heads of Missions cleared by the Israeli government to assume service soon.

Currently, this circulation is located over the Comorin area and extends up to the mid-tropospheric levels. As a result, IMD expects light to moderate rainfall in many parts of South Tamil Nadu, with a few isolated places in North Tamil Nadu and Puducherry and Karaikal areas also experiencing rain over the next two days (17th-18th December 2023). On these days, isolated heavy to very heavy rain is likely in south Tamil Nadu, while the adjoining delta districts may experience isolated heavy rain.

Google Doodle on Sunday celebrated Ha Long Bay in Vietnam, situated in the Gulf of Tonkin within the Quang Ninh province. According to the description, this geological marvel took shape around 3 million years ago.

The official list that was released by IPL includes names of star debut players such as New Zealand's Rachin Ravindra who received widespread acclaim during his stint at the ICC World Cup 2023. Along with him, there are other players that cricket enthusiasts are excited about. Read More: IPL Auction 2024: Check date, time, streaming platform and everything else you need to know Top five debut players to look out for at auction:

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visa-free destinations as their ideal choice of international destination. As per MakeMyTrip, countries that removed visa requirements for travelers from India have seen over 30 percent positive uptick in terms of searches and bookings. Ahead of the Christmas vacation, several Asian countries including Malaysia, Thailand, Vietnam, Sri Lanka have recently announced that they are implementing visa-free entry for visitors from India and other countries.

Adani Total Gas surging by as much as 65%. This upswing is attributed to the positive outlook on the BJP government's potential return to power in 2024, following the party's success in three key state elections, which has bolstered investor sentiment.

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