President Gotabaya Rajapaksa urged millions of Sri Lankans abroad to invest their savings in their home country.COLOMBO - Sri Lanka marked its independence day on Friday with an appeal to its diaspora to send money home to overcome the island's worsening economic crisis and a pledge to protect foreign investments.
"Expatriate Sri Lankans who provide foreign exchange to the country are a major resource to us," Rajapaksa said.Colombo's foreign reserves, which stood at $7.5-billion when Rajapaksa took office in November 2019, have fallen by more than half, to $3.1-billion. Tourism, another key source of income for the country, has been battered by the coronavirus pandemic.
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Pepkor makes retail investment in Brazil in what experts call a good strategic moveWhile the value of the deal was not disclosed, Pepkor said the acquisition of the group was less than 4% of its market capitalisation, which on Thursday was about R80bn.
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