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Dilmah is voted by New Zealand as their most trusted tea brand for the 5th year in a row

The New Zealand Readers Digest Trusted Brand Awards are perhaps the most iconic and well-known celebration of what New Zealanders really think of the brands they buy.  For Dilmah it’s humbling news to be recognized by the people of New Zealand as their 2019 most trusted tea brand for the 5th year in a row….

(0)Comments | May 25, 2019 8:57 am

Sri Lanka stocks snap 5 days of gains in light trade; rupee steady

Reuters – Sri Lankan shares snapped five straight sessions of gains on Friday in low trade amid worries over economic slowdown and lack of investor appetite for risky assets. ** Traders said the Easter day bombings and aftermath violence weighed on investor sentiment. Most investors have shied away from the market since the April 21…

(0)Comments | May 25, 2019 8:54 am

Sri Lanka in talks with India, Japan to build container terminal in Colombo

Reuters – Sri Lanka is in advanced talks with India and Japan to construct a container terminal at the port in Colombo, next to a Chinese terminal built as part of Beijing’s Belt and Road Initiative, government officials said. The involvement of India and Japan is the latest sign that Sri Lanka wants to neutralise…

(0)Comments | May 25, 2019 8:53 am

CDB’s profit before taxes surpasses LKR 2.7 Bn – now among Top 5 largest NBFIs

Profit before taxes up by 34% Strong Asset base of LKR 91.9 Bn Citizens Development Business Finance PLC (CDB) reinforced its dominance as a disruptor in the financial intermediary business in Sri Lanka with its exceptional financial results for FY 2018/19, posting profit before taxes of LKR 2.7 Bn, an increase of 34% as per…

(0)Comments | May 24, 2019 4:50 pm

Sri Lanka’s Cargills Bank temporarily restrict E-Commerce transactions due to given reports on Potential Cyber Crimes

Sri Lanka’s Cargills group owned Cargills Bank had said that the bank is temporarily restricting E commerce transactions based on given recent reports on potential Cyber Crimes, a sms communication sent to all credit and debit cardholders by the bank outlines. “Dear customer given recent reports on potential Cyber Crime E commerce transactions have been…

(0)Comments | May 24, 2019 11:49 am

Colombo Cold Stores revenue increases by 16% in FY 2018/2019, Profit After Tax down 49%

Jaykay Marketing Services generated 77% revenue   Sri Lanka’s leading conglomerate John Keells Holdings (JKH) owned key retail listed entity Colombo Cold Stores (CCS) consolidated revenue had increased by 16% to Rs. 59 billion with fully owned subsidiary Jaykay Marketing Services (Pvt) Ltd – JMSL accounting for approximately 77% of revenue and CCS & The Colombo…

(0)Comments | May 24, 2019 11:44 am

Sri Lanka stocks edge up in light turnover; rupee up

Reuters – Sri Lankan shares closed slightly firmer on Thursday and extended gains into a fifth session, but trading volume slumped to a near five-month low amid worries over economic slowdown and lack of investor appetite for risky assets. ** Traders said the Easter day bombings and aftermath violence weighed on investor sentiment. Most investors…

(0)Comments | May 24, 2019 10:23 am

Global stocks gain as US eases Huawei restrictions

Stock markets gained on Tuesday, with chipmakers and companies exposed to Asia among the best performers, after Washington temporarily eased trade restrictions imposed last week on China’s Huawei.   In Europe, the broader Euro STOXX 600 climbed 0.6%, extending gains earlier in the trading session, with Germany’s DAX rising 1.1%, while France’s CAC 40 added…

(0)Comments | May 23, 2019 1:08 pm

Sri Lanka’s Central Bank only raises US $ 165.5 Mn through US $ 200 Mn SL Development Bonds Issue

Sri Lanka’s Central Bank (CBSL), on behalf of the Government, has only been able to raise US $ 165.5 million via the latest issuance of Sri Lanka Development Bonds (SLDBs) to the tune of US $ 200 million since only US $ 196 million worth of bids received, reports highlight.   In a similar move…

(0)Comments | May 23, 2019 12:28 pm

IMF advises Sri Lanka Stock Market Regulator SEC to expedite high-profile criminal actions soon

International Monetary Fund (IMF) advises Securities and Exchange Commission of Sri Lanka (SEC) to streamline the current enforcement program and bring several high-profile criminal actions soon that will have a positive impact on the public’s confidence in the SEC as a regulator, a technical assistance report for enhancing the effectiveness of the Sri Lankan Securities…

(0)Comments | May 23, 2019 12:11 pm