Sri Lanka Financial News

hybrid model modalities for the Champions Trophy during a virtual meeting with Pakistan Cricket Board (PCB) chief Mohsin Naqvi on Saturday, it has been learnt. It has been agreed in principle that neither India nor Pakistan will travel to each other's country for ICC events. Hence, India and Pakistan will play in Dubai during the 2025 Champions Trophy which will be held from February 19 to March 9. The tournament will feature eight teams, divided into two groups. The top two teams from each group will advance to the semifinals. The PCB had said that it was willing to accept the hybrid model only if the same arrangement will be made for all ICC events, awarded to India and Pakistan.

Subscribe to enjoy similar stories. If there is one defining feature of municipal services in large parts of India, it is chronic underfunding and under investment. According to the Reserve Bank of India, municipal expenditure is less than 1% of GDP.

Jason Gillespie who was appointed as Pakistan's Test team head coach in April this year, stepped down from his role on Thursday. Aqib Javed, Pakistan men's white-ball head coach, will take over as head coach of the Test team for the upcoming series in South Africa. In Gillespie's last assignment as the Pakistan head coach, the team overcame a 1-0 deficit to emerge victorious in a three-Test series against England at home in October.

Robert Payas, along with other ex-LTTE personnel based abroad, have been trying to revive it in Tamil Nadu since 2019, as per the investigation by agencies. NIA in 2022 carried out searches and came across the involvement of Suresh Raj and Soundar. «Accused Soundar had voluntarily confessed that his uncle Balan Jayakanthan, an ex-LTTE cadre, instructed him to meet Robert Payas (an accused in the Rajiv Gandhi assassination case) for monetary assistance for his education and Robert Payas, in turn, instructed him to meet Sabesan, an ex-LTTE cadre and through Sabesan, the two developed an association and indulged in subversive activities,» the order stated.

World Test Championship (WTC) points table after a convincing 2-0 series victory over Sri Lanka at home. The Proteas' triumph, led by captain Temba Bavuma, dislodged Australia from the top position. With this win, South Africa now requires just one more victory in their upcoming two-match series against Pakistan to secure a spot in the WTC Final.

Ceat’s acquisition of Michelin's off highway tyre (OHT) brand Camso will help the RPG Group company boost margins by raising the share of these more-profitable tyres in the overall mix to 25-30% from the current 15%, Anant Goenka, vice chairman, RPG Enterprises told ET. Ceat signed a definitive agreement with the French tyre maker for acquiring the Camso brand for $225 million, the company said in a statement on Friday. OHT includes agriculture tyres, harvester tyres, power sports tracks and material handling tyres. “The acquisition will be margin accretive for us. The margins of this business are higher than the CEAT margins,” said Goenka. The entire category (OHT) margins are fairly high—at 15-20% compared to 12% for regular tyres, especially those that are operating or have the manufacturing in South Asia, he said.

Subscribe to enjoy similar stories. Anant Goenka, vice-chairman of RPG Group, recalls a chance meeting with an HSBC banker during a flight from Delhi to Mumbai some six months ago, which sparked the conglomerate's interest in acquiring Michelin's off-highway tyres and tracks business. In the next 4-6 months, Ceat faced a brief process as it had to navigate competing interests from Indian and Chinese tyre manufacturers that were also pursuing Camso.

Sri Lankan Navy apprehended eight Indian fishermen and captured two boats off the coast of Ramanathapuram on Sunday morning. The apprehended fishermen who belong to Ramanathapuram have been identified as Mangadu Bhatrappan (55), Reddayurani, Kannan (52), Chinna ReddayurMuthuraj (55), Agasthiyar Kutam Kali (50) and Thangachimad Yasin (46), Jesus, Uchipulli Ramakrishnan and Velu including 8 fishermens was arrested and taken to the Kangesanturai Naval Camp. According to the Mandapam Fishermen Association, the apprehended fishermen had gone to the sea from Mandapam. They were fishing in Palk Bay sea area when the Sri Lankan Navy came to the area early this morning claiming that the fishermen had crossed the border.

India Vs Bangladesh U19 Asia Cup Final Live Score Updates: The Indian U-19 cricket team will be aiming for revenge when they take on Bangladesh U-19 in the Asia Cup final on Sunday, in a rematch of previous year's summit clash. Having started the tournament on a losing note to Pakistan, the Indians bounced back with big wins against Japan and UAE in the group stage.

day-night Test seemed like an exciting idea, the panacea for the problem. Over the years, it seems to have lost its sheen. Except Australia, no country plays it regularly. In fact, they have hosted 13 out of 23 pink ball Tests that have been played so far. England and South Africa haven’t hosted a pink ball Test since 2017. Sri Lanka have never hosted one. India haven’t played a pink Test at home since March 2022 and there is nothing to suggest that it will change anytime soon. For all practical purposes, it has been reduced to tokenism championed by Australia whenever a touring side travels down under.

UN General Assembly draft resolution that was unanimously adopted to proclaim December 21 as World Meditation Day. India, including Liechtenstein, Sri Lanka, Nepal, Mexico and Andorra, was a member of the core group of countries that guided the unanimous adoption of the resolution titled 'World Meditation Day' in the 193-member UN General Assembly on Friday. «A day for comprehensive well-being and inner transformation! Glad that India along with other nations of the core group guided the unanimous adoption of the resolution on the declaration of December 21 as World Meditation Day @UN General Assembly today (Friday),» India's Permanent Representative to the UN Ambassador Parvathaneni Harish said in a post on X.

Phillips Machine Tools (PMT) will launch a dedicated 3D materials division to address India’s lack of locally available high-tech consumables and raw materials, including titanium. The company has plans to secure an import license in the next six months and cater to the defence, aerospace, renewable, electronics, and, in certain aspects, the health tech market and clean energy sectors, the company’s Managing Director, Terrence Miranda, told ET. PMT is a fully owned subsidiary of the USA-based Phillips Corporation. “To obtain this license, you need to demonstrate capabilities, such as owning the necessary equipment and conducting R&D on it. India does not yet produce aerospace-grade titanium in the quantities or quality needed. For sectors like space and defence, this poses a significant challenge,” he said, adding that the company will incorporate it into its new 20,000 sq. ft facility in Chakan, Pune. PMT is working to source titanium from international markets, including the US and Germany, while also exploring regional exports to make it easier to procure.

Sri Lankan port’s expansion led by the Adani Group is progressing as scheduled, a top local official said, even as the fate of $553 million in American funding for the project remains uncertain following the indictment of the Indian conglomerate’s executives in the US. Construction at the Colombo West International Terminal remains ongoing, with phase one of the project still set for completion in early 2025, said Sirimevan Ranasinghe, chairman of the Sri Lanka Ports Authority, a minority shareholder in the project. “We are continuing as per our agreement,” Ranasinghe told Bloomberg News. He said the US financing had not been finalized and declined to comment further on its status, adding that it was up to the joint-venture company developing the project to secure financing.

Venue : Sharjah Cricket Stadium, Sharjah Sri Lanka Under-19 squad - Kavija Gamage, Pulindu Perera, Vimath Dinsara, Dulnith Sigera, Geethika De Silva, Lakvin Abeysinghe, Praveen Maneesha, Ramiru Perera, Vihas Thewmika, Viran Chamuditha, Sharujan Shanmuganathan, Tanuja Rajapakse, Mathulan Kugathas, Newton Ranjithkumar, Yenula Dewthusa Afghanistan Under-19 squad - Barkat Ibrahimzai, Ezatullah Barikzai, Faisal Shinozada, Uzairullah Niazai, Fahim Khewawal, Nazifullah Amiri, Nooristani Omarzai, Rohullah Arab, Hamza Khan, Mahboob Khan, Abdul Aziz, AM Ghazanfar, Hafeez Zadran, Khatir Stanikzai, Naseer Khan Maroofkhil, Salam Khan Ahmadzai, Wahidullah Zadran Sri Lanka Under-19 vs Afghanistan Under-19 Match Details Match 6 of ACC Men's U19 Asia Cup, 2024 between Sri Lanka Under-19 and Afghanistan Under-19 to be held at Sharjah Cricket Stadium, Sharjah at 10:30 AM.

Venue : Sharjah Cricket Stadium, Sharjah Sri Lanka Under-19 squad - Kavija Gamage, Pulindu Perera, Tanuja Rajapakse, Vimath Dinsara, Dulnith Sigera, Geethika De Silva, Lakvin Abeysinghe, Newton Ranjithkumar, Ramiru Perera, Vihas Thewmika, Viran Chamuditha, Sharujan Shanmuganathan, Mathulan Kugathas, Praveen Maneesha, Yenula Dewthusa Nepal Under-19 squad - Aakash Tripathi, Arjun Kamal, Bipin Mahato, Mayan Yadav, Naren Bhatta, Abhishek Tiwari, Naren Saud, Roshan Bishwakarma, Santosh Yadav, Yuvraj Khatri, Dilsad Ali, Uttam Rangu Magar, Aprajit Poudel, Dayanand Mandal, Hemant Dhami, Rajesh Yadav, Ranjit Kumar, Unish Singh Sri Lanka Under-19 vs Nepal Under-19 Match Details Match 2 of Men's Under-19 Asia Cup, 2024 between Sri Lanka Under-19 and Nepal Under-19 to be held at Sharjah Cricket Stadium, Sharjah at 10:30 AM.

Subscribe to enjoy similar stories. New Delhi: Robust sales growth recorded by the Indian government’s generic pharmacy model will put pressure on trade margins in the retail medicine market because of the affordability and quality of the drugs sold, a top official said. The quality certified generic medicines sold at kendras (centres) operating under the Pradhan Mantri Bharatiya Janaushadhi Pariyojana (PMBJP) help to moderate the prices of medicines and create a benchmarking effect, Arunish Chawla, secretary of the Department of Pharmaceuticals, said in an interview toMint.

Onion prices are staying firm at a five-year high as a combination of strong export demand and delayed and damaged kharif crop due to prolonged monsoon rainfall has impacted an expected fall in prices post Diwali season. Onion prices are expected to return to comfortable levels by mid-December, trade insiders said. At the benchmark Lasalgaon market in Maharashtra’s Nashik district, onions traded in the range of Rs 15/kg to Rs 53/kg on Wednesday, while the average price was Rs 40/kg. The average wholesale price of the red onion at Lasalgaon was Rs 34/kg in 2020, Rs 21/kg in 2021, Rs 20/kg in 2022 and Rs 37/kg in 2023.

India Meteorological Department (IMD). The depression, as of Tuesday morning, was located 310 km southeast of Trincomalee, 710 km south-southeast of Puducherry, and 800 km south-southeast of Chennai. The IMD stated, «It is very likely to continue moving north-northwestwards and intensify further into a cyclonic storm on November 27. Thereafter, it will continue to move north-northwestwards towards the Tamil Nadu coast, skirting the Sri Lanka coast during the subsequent two days.» Regarding the movement of the deep depression in the Bay of Bengal, which is likely to intensify into a cyclonic storm, the IMD stated, “It is very likely to continue moving north-northwestwards, skirting the Sri Lanka coast, and intensify into a cyclonic storm during the next 12 hours. Thereafter, it will continue moving north-northwestwards and approach the north Tamil Nadu-Puducherry coasts as a deep depression around the morning of 30th November.”

HDFC Bank, M&M, and Infosys were offset by losses in Reliance Industries and Bharti Airtel. The BSE Sensex was trading 14 points, or 0.02%, lower at 79,992. The Nifty50 was down 18 points, or 0.08%, trading at 24,175 around 9:25 am.

India Meteorological Department (IMD) reported that a deep depression over the Bay of Bengal is likely to develop into a cyclonic storm, Cyclone Fengal, on 27 November. The depression was located approximately 770 km south-southeast of Chennai and 570 km south-southeast of Nagapattinam. «It is very likely to continue to move north-northwestwards and intensify further into a cyclonic storm on 27th November. Thereafter, it will continue to move north-northwestwards towards Tamil Nadu coast skirting Sri Lanka coast during subsequent 2 days,» the IMD stated on X (formerly Twitter). The IMD also issued a red alert for districts such as Mayiladuthurai, Nagapattinam, and Karaikal, warning of extremely heavy rainfall exceeding 20.4 cm. An orange alert is in place for districts like Villupuram, Cuddalore, and Puducherry, with fishermen advised to avoid venturing into the sea until 28 November.