Reuters – Sri Lankan shares edged up from a one-week low on Wednesday as foreign investors bought shares in blue chips such as John Keells Holdings PLC, with turnover hitting a 5-week high. The Colombo stock index ended 0.32 percent firmer at 6,711.67, from its lowest close since May 15 hit on Tuesday. The index…
Amãna Bank has received confirmation from IB Growth Fund (Labuan) LLP, a subsidiary of the Islamic Corporation for the Development of the Private Sector (ICD), to participate in the Bank’s forthcoming rights issue. ICD is a multilateral development financial institution and is part of the Islamic Development Bank (IDB) Group, who is currently a strategic…
Responding swiftly and strongly to the statement made by the Governor of the Central Bank with regard to the apartment development industry, stalwarts of the industry have stated that it was irresponsible and damaging. “I know we are living in a post truth world, but some of the broad generalizations made by the Governor are…
Reuters – Sri Lankan shares fell for a second straight session and hit a near one-week low on Tuesday on profit-taking, while investors cautiously awaited policy direction from the country’s new finance minister. President Maithripala Sirisena switched the finance and foreign ministers in a cabinet reshuffle on Monday, in a bid to restore confidence in…
Nawaloka Holdings, a diversified conglomerate in Sri Lanka recently acquired the leading machinery Manufacturer, Importer and Distributor Alcobronz (Pvt) Limited. With over 40 years of experience in the Woodworks, Metalworks, Dust Management Systems and Aerospace Industries, Alcobronz is one of the largest manufacturers and distributors of machinery in the island. Speaking on the acquisition…
The upcoming Sri Lanka Investment and Business Conclave 2017 ‘ has seen interest from investors and business partners from over 20 countries, who are looking for opportunities in diverse sectors of the local economy. Accordingly, Investors / Business partners from countries such as Australia, Belgium, Botswana, China, Germany, India, Japan , New Zealand, Netherlands, Nigeria,…
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 8.4 per cent in April 2017 from 8.6 per cent in March 2017, on year-on-year basis. Both Food and Non-food categories contributed towards the year-on-year inflation in April…
Reuters – Sri Lankan shares edged down on Monday as investors booked profits in blue chips such as John Keells Holdings Plc, with analysts saying the market was waiting for policy direction from newly-appointed finance minister Mangala Samaraweera. President Maithripala Sirisena switched the finance and foreign ministers in a cabinet reshuffle on Monday, in a…
The world’s top design firms compete to redefine urban plans for Port City Colombo’s Financial District and the Marina The International Urban Design Idea Competition, an effort conceived and initiated by CHEC Port City Colombo (Private) Ltd under the sanction of International Union of Architects (UIA) concluded successfully, with enticing innovative and sustainable urban…
India should remove non-tariff barriers on Sri Lankan imports and the proposed Economic and Technology Cooperation Agreement between the two nations should be implemented in phases, said a top official of the National Chamber of Exporters (NCE) of Sri Lanka. President of NCE of Sri Lanka Ramal G. Jasinghe said Sri Lanka was open for…
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