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SriLankan Airlines resumes flights to Cochin following reopening of airport

SriLankan Airlines, the largest foreign carrier into India, resumed its services to the southern Indian city of Cochin on 30th August, which had been suspended since 15th August due to the worst flooding in the state of Kerala in nearly a century. Cochin International Airport was closed on August and reopened on 29th August, with…

(0)Comments | August 30, 2018 6:19 pm

Krishan Balendra to retire from NTB, Gihan Cooray Next Chairman

Nations Trust Bank PLC (NTB) in a disclosure to Colombo Stock Exchange (CSE) said that Chairman of Nations Trust Bank Krishan Balendra will be retiring from the Board of Directors with effect from 1st December 2018 upon completing 9 years on the board as per corporate governance rules in the banking industry. The statement further…

(0)Comments | August 30, 2018 4:14 pm

COMBANK reaches Rs 10 Billion mark in lending to SMEs under ‘Enterprise Sri Lanka

The Commercial Bank of Ceylon has received registrations for  a whopping Rs 10 Billion in loans to Small and Medium Enterprises (SMEs), under the government’s ‘Enterprise Sri Lanka’ initiative launched in June this year to stimulate the national economy. The Bank’s concessionary interest loans were disbursed under four designated schemes: ‘Jaya Isura’ for SMEs; ‘Ran…

(0)Comments | August 30, 2018 2:50 pm

Sumal Perera suggests Dhammika Perera should be the Next Presidential Candidate at Fireside Chat – VIDEO

At the peak of the event that brought in Sri Lanka’s foremost 6 businessmen in the country who control the key sectors of the economy, including Casinos, Banking, Export Crops, Power and Energy, Apparels, Retail, Liquor, Construction Sri Lankan Billionaire Sumal Perera went on to suggest that another Billionaire Dhammika Perera should be the next…

(0)Comments | August 30, 2018 11:11 am

Sri Lankan shares rebound from 17-mth closing low

Reuters – Sri Lankan shares rebounded on Wednesday, from their lowest close in 17 months, boosted by local media reports citing the central bank governor that the main state-owned pension fund will return to the equity market. The Employees’ Provident Fund, which had halted equity investments in 2015, is set to resume buying and selling…

(0)Comments | August 30, 2018 5:54 am

Sri Lankan rupee hits record low for seventh session

Reuters – The Sri Lankan rupee hit an all-time low for a seventh straight session on Wednesday, dragged down by importer dollar demand amid less inflows of the greenback, dealers said. The rupee, which hit a fresh record low of 161.43 early in the trade, closed at 161.40/50 per dollar, compared with Tuesday’s close of…

(0)Comments | August 30, 2018 5:53 am

Cabinet decides to liquidate National Wealth Corporation and Securities, Mahapola Fund limited to invest in State Banks and CB Bonds

In a bid to formalize investments of the Mahapola Higher Education Scholarship Trust Fund, Sri Lanka’s Government Cabinet had decided to liquidate National Wealth Cooperation Limited and the National Wealth Securities Limited belonging to the Mahapola Higher Education Scholarship Trust Fund, and invest all Mahapola Funds only in state banks and Central bank bonds.  …

(0)Comments | August 29, 2018 3:44 pm

Cotton Collection 100% stake was bought for Rs. 300 Mn – ODEL

Sri Lanka Billionaire ‘Leverage King’ titled Ashok Pathirage’s Softlogic group controlled Odel PLC in a Colombo Stock Exchange (CSE) disclosure said that Odel acquired 100% stake of Cotton Collection (Pvt) Ltd from Niloufer Esufally Anverally for Rs. 300 million. “The decision to enter into this transaction is in line with the company’s strategy of expanding…

(0)Comments | August 29, 2018 2:56 pm

SriLankan Airlines increases capacity between Colombo and Singapore

Three daily flights offering over 2400 additional seats per week.   SriLankan Airlines is significantly expanding its capacity on the Colombo-Singapore-Colombo route with the introduction of wide bodied Airbus A330 aircraft that are equipped with the latest inflight entertainment systems, luxurious seating and on-board cuisine that is among the finest in the sky, to provide…

(0)Comments | August 29, 2018 12:13 pm

‘EPF coming back to the stock market fairly soon’ – CB Governor Coomaraswamy

Sri Lanka’s over US $ 12 billion or Rs. 2 trillion word funds holding, country’s largest pension fund that manages private sector workers life time savings – Employees Provident Fund (EPF) will come back to the stock market fairly soon according to Central Bank Governor Dr. Indrajit Coomaraswamy.   His comments came on the sidelines…

(0)Comments | August 29, 2018 10:03 am