IFC, a member of the World Bank Group, is extending a $50-million financing facility to Sri Lanka’s Nations Trust Bank PLC. The funds will enable the bank to expand its lending in the Small and Medium Enterprise segment across the country. This will boost access to finance for SMEs, helping to create jobs and increasing…
Reuters – Sri Lankan shares were flat at the close of trade on Thursday, as gains led by industrial and telecom counters were offset by losses in stocks of manufacturing companies. The Colombo stock index edged up 0.01 percent to 6,390.74, but fell 0.3 percent during the week, its seventh straight weekly fall. It has…
Sri Lanka’s first EU-GMP, PIC/S compliant facility to enable exports of pharmaceuticals to international markets Navesta Pharmaceuticals Private Limited has set the benchmark for the local pharmaceutical manufacturing sector by opening the Country’s first sterile pharmaceutical manufacturing plant in Horana. Navesta Pharmaceuticals is Sri Lanka’s first European Union Good Manufacturing Practices (EU-GMP) and Pharmaceutical Inspection…
Reuters – Sri Lankan shares fell for a second session on Wednesday, ending near a more than four-month closing low hit last week, as investors sold shares of banks and beverages companies. The Colombo stock index fell 0.13 percent to 6,390.26. Shares of Nestle Lanka Plc fell 0.6 percent, while biggest listed lender Commercial Bank…
A Memorandum of Understanding (MoU) on establishing a sister city relationship between Jishan, Shanxi Province of China and Monaragala, Uva Province of Sri Lanka was signed recently in Sri Lanka between the District Secretary of Monaragala and the Magistrate of the People’s Government of Jishan Country with the participation of Chinese delegation including six members…
Reuters – Sri Lankan shares ended slightly weaker on Tuesday, hovering near a more than four-month closing low hit last week, as foreign investors sold diversified shares, brokers said. Foreign investors turned net sellers for the first time in six sessions, selling shares worth a net 495 million rupees ($3.24 million), although they have net…
Fitch Ratings-Colombo-29 August 2017: Fitch Ratings Lanka has affirmed Citibank N.A. – Colombo Branch’s (CitiSL) National Long-Term Rating at ‘AAA(lka)’. The Outlook is Stable. KEY RATING DRIVERS CitiSL’s rating reflects the credit profile and financial strength of Citibank, N.A. (Long-Term Issuer Default Rating (IDR) at A+/Stable and Viability Rating at a). The rating is linked…
The 20th Annual General Meeting of the Sri Lanka – Singapore Business Council (SLSBC) of The Ceylon Chamber of Commerce was held recently at The Ceylon Chamber of Commerce. The SLSBC was inaugurated in 1997 under the aegis of the Ceylon Chamber of Commerce with the objective of promoting trade, investments, tourism and services between…
Turkey can become a tea hub between Europe and Asia with Colombo’s collaboration, said Sri Lanka’s ambassador to Ankara P.M. Amza. “Our hope and desire is to collaborate [in the tea sector] rather than compete in order to achieve a mutually beneficial outcome,” Amza said in an exclusive interview with Anadolu Agency. Amza said that…
Sports lovers, particularly cricket fans, must be highly concerned about the unruly crowd behaviour at recent ODIs. Last week, there was the wholly unbecoming experience of the Sri Lanka cricketers being booed at a home match and then having to remain in their dressing room until they were escorted away from the stadium by the…
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