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New ICTA Board appointed

The Board of Directors of the Information and Communication Technology Agency of Sri Lanka (ICTA), the apex ICT organization under the Ministry of Telecommunication and Digital Infrastructure has been reconstituted.  It is now headed by Professor Rohan Samarajiva, former Director General of the Telecommunications Regulatory Commission who contributed to the design of the e-Sri Lanka…

(0)Comments | April 17, 2018 3:35 pm

‘Sri Lanka: Over-banked market and is ripe for a shake-up’ – EuroMoney

Renown English-language monthly magazine among world’s leading investors, focused on business and finance, Euromoney in a special report had recently outlined that Sri Lanka is a over-banked market and is ripe for a shake up.   A report written by Elliot Wilson highlights that “There are the banks that began life as development outfits before switching…

(0)Comments | April 17, 2018 10:14 am

Lifted by India, South Asia Regains Growth Lead, Still Lags on Jobs

South Asia has regained its lead as the fastest growing region in the world, supported by recovery in India. With the right mix of policies and reforms, growth is expected to accelerate to 6.9 percent in 2018 and 7.1 percent next year. The twice-a-year South Asia Economic Focus (SAEF) finds that the region could even extend its…

(0)Comments | April 17, 2018 9:47 am

Sri Lankan shares hit near 6-week closing high; turnover slumps to 4-year low

Reuters – Sri Lankan shares rose slightly on Monday and posted their highest close in nearly six weeks in light trade, as many market participants were on extended holidays after the Sinhala-Tamil New Year festival over the weekend, brokers said. Turnover was 101.9 million rupees ($653,833.81), the lowest since March 17, 2014, and less than…

(0)Comments | April 17, 2018 9:33 am

CSE reports the ‘Lowest Daily Turnover’ in 4 years

Colombo Stock Exchange reported the lowest Daily Turnover in the latest history today which was merely a Rs. 101.94 million with little over 7 million shares changing hands among traders as at the end of the trading day on 16th April 2018. This is recorded to be the lowest daily turnover ever reported in last 4…

(0)Comments | April 16, 2018 4:08 pm

CBSL currency intervention tops US $ 284 Mn by March 2018 to control Rupee

Rupee down by over 16% against US Dollar from December 2014 Levels Central Bank of Sri Lanka (CBSL) had purchased over US $ 284 million on a net basis up to March 6, 2018, from the domestic foreign exchange market to control the rupee depreciation, amidst a 2% depreciation against the dollar during the year…

(0)Comments | April 16, 2018 1:45 pm

Sri Lanka’s Insurance sector eyed by Foreign Investors

Despite Sri Lanka being positioned in a key Strategic Location in the Indian Ocean being a market that has wider access to over 4.5 billion people in Asia including China, India, Bangladesh, Indonesia, Pakistan, the largest multinational insurance firms view the country as a potential market for both general and life insurance, key analysts from…

(0)Comments | April 16, 2018 12:51 pm

SriLankan achieves highest ever revenue in history

SriLankan Airlines has achieved a record un-audited annual passenger revenue of Rs. 126.9 billion (US Dollars 830.7 million) for its just ended financial year of 2017/18 – the highest ever in the Company’s 38-year history. The revenue comes on the back of recent expansion of the airline to include services to several new destinations such…

(0)Comments | April 16, 2018 9:17 am

Enhancing Cultural and Tourism Cooperation with Africa: SL discusses with UNESCO

Ambassador of Sri Lanka to Ethiopia and Permanent Representative to the African Union, Sumith Dassanayake recently met with Dr. (Ms.) Yumiko Yokozeki, Director of the United Nations Educational, Scientific and Cultural Organization (UNESCO) for Africa at the UNESCO office in Addis Ababa. The discussion centered on enhancing cultural and tourism cooperation between Sri Lanka and…

(0)Comments | April 15, 2018 2:47 pm

SL to take action against money laundering and terrorism financing

Speaking of the recent measures taken against money laundering and terrorism financing, the State Minister of Finance Eran Wickramaratne categorically denied the claims, that the government mulls amending companies act to send the details of persons having 25 % of the shares in Public Limited Companies to CID to inquire on money laundering acts. It…

(0)Comments | April 14, 2018 12:43 pm

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