Reuters – Sri Lankan shares rose on Wednesday to a 17-month closing high, on gains in financials and food and beverage stocks, ahead of the central bank’s policy review later in the week where interest rates are expected to be held steady. The Colombo stock index gained 0.38 percent at 6,731.25, its highest close since…
Inflation, as measured by the change in the National Consumer Price Index (NCPI) (2013=100), which is compiled by the Department of Census and Statistics (DCS), decelerated to 7.1 per cent in May 2017 from 8.4 per cent in April 2017, on year-on-year basis. This deceleration is mainly due to the base effect amid a monthly…
Aavishkaar Venture Management Services Pvt. Ltd, an investment firm that backs enterprises working in rural areas, has struck its fifth deal through its South and Southeast Asia-focussed vehicle. Aavishkaar Frontier Fund has invested an undisclosed amount in Sri Lanka-based logistics solutions provider Grasshoppers Pvt. Ltd – its second investment in the island nation after food…
Dearth of peelers leaves world’s leading exporter with harvest shortfalls Nikkei Asian Review – Along Sri Lanka’s west coast, towns like Negombo have abundant green cinnamon farms that keep peelers of the bushes’ fragrant inner bark busy. Pesthathanthri Sumathipala, a seasoned peeler, is up at dawn to lead a small crew of peelers through a…
Sri Lankan Embassy in Nepal organized a meeting with the Nepal Travel Agents on 15th June 2017 to promote Tourism. Welcoming the guests, Ambassador W.S. Perera emphasized the importance of promotion of Tourism to further strengthen the economic relations. Most of the participants emphasized the importance of having direct flights between Colombo and…
Reuters – Sri Lankan shares rose on Tuesday as investors picked up banking and diversified stocks, but foreign investors turned net sellers after two days of buying. The Colombo stock index ended 0.32 percent firmer at 6,705.45, with foreign investors selling a net 120.7 million rupees worth of shares. They have bought 20.7 billion rupees…
Qatar Airways has been named the best airline in the world for 2017 by the leading consumer aviation website Skytrax. The Gulf-based carrier was presented with the honor at Tuesday’s World Airline Awards at the 2017 Paris Air Show. The prestigious award ceremony is often referred to as the “Oscars of the aviation industry,” and the…
The government plans to open the Thabbowa tourism Zone in Puttlam next year said State Minister for Irrigation and Water Resources Management Palitha Range Bandara. The tourism zone will be created centering the Thabbowa reservoir and the Thabbowa Sanctuary while the Neelabamma environmental zone will also be included. At a meeting held in Anamaduwa recently,…
Reuters – Sri Lankan shares hit a near one-week closing low in tepid trade on Monday, as selling in diversified and banking shares offset foreign inflow into equities. The Colombo stock index ended down 0.52 percent at 6,684.02, its weakest since June 14. Foreign investors net bought 26.7 million rupees ($174,396) worth of shares, extending…
Government’s plan is to make Sri Lanka an export driven economic and financial hub of the Indian Ocean, Minister of Finance and Media Mangala Samaraweera said. He made these remarks participating at the Board of Governors meeting of the Asian Infrastructure Investment Bank which was held in Jeju Island in Republic of Korea from the…
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