Business Sentiment – Index at an Eight Month High Sri Lanka’s trade deficit contracted in August as imports continued to decline while the dip in exports of the previous month had largely recovered, according to data released by the Central Bank of Sri Lanka. Import expenditure recorded a fall of 16.6 percent year on year…
Kaizen Private Equity II Pte. Ltd., a 79 million US dollar private equity fund specializing in education, will be investing in small and medium-sized enterprises operating in the education sector in South and Southeast Asia, the Asian Development Bank (ADB) said. ADB said it will invest US $5 million in the fund, managed by Kaizen…
But central bank’s reluctance to further reduce borrowing costs could rile Donald Trump The Guardian – The US central bank has cut interest rates for the third time this year in an attempt to keep the longest running period of growth in the country’s history continuing into the crucial election year of 2020. But the Federal Reserve put itself…
Apple’s business is being tested by ongoing weakening of its iPhone sales. BBC – In the most recent quarter, iPhone sales dropped to $33.4bn (£25.9bn), down almost 10% year-on-year. The fall extended a streak of declines and hit the firm’s profits in the quarter, which slipped about 3% year-on-year to $13.7bn. The firm’s profit and…
The Cabinet of Ministers approved the proposal presented by Minister of Highways, Road Development and Petroleum Resources Development to award the contract of purchasing 8,400,00 barrels of Murban Crude oil with respect to a period of 8 months from 1st January 2020 to 31st August 2020 to M/s B.B. Energy (Asia) Pte. Ltd., Singapore. The…
The Cabinet of Ministers approved the proposal presented by Minister of Plantation Development to assign 6 estates in Kilinochchi, Mannar, Batticaloa, Trincomalee and Puttlam Districts to Sri Lanka Cashew Corporation on long term lease basis for cashew cultivation. Sri Lanka Cashew Corporation (SLCC) was established under the extraordinary Gazette notification no. 60/7 of 25th May…
Laugfs Holdings will go public with two of its companies in the future, a top official said. Veteran business leader and Executive Chairman of Laugfs Holdings, W.K.H. Wegapitiya noted that LAUGFS Leisure and LAUGFS Eco Sri will be listed on the Colombo Stock Exchange in the coming months. “Today, the little homegrown enterprise we started in 1995…
The Cabinet of Ministers approved the proposal presented by Minister of City Planning, Water Supply and Higher Education to sign a Memorandum of Understanding between the Post Graduate Management institute of the University of Sri Jayawardhanapura and the faculty of Business Administration in the Kasetsart University in Thailand with the intention of developing Educational Cooperation between…
(Reuters) – Sri Lankan shares slipped on Wednesday after nine straight sessions of gains to a 13-week closing high, while the rupee closed slightly weaker. ** The benchmark stock index ended 0.12% weaker at 5,957.27, slipping from its highest close since July 29 hit on Tuesday. The index rose 1.2% last week and 2.2% in…
Top textile manufacturer Teejay Lanka PLC has witnessed impressive top and bottom line growth in the first half of 2019-20, with investments in expansion and internal measures continuing to generate anticipated improvements to net profit margins and other key performance indicators. Noteworthy revenue and profit improvements in the second quarter of the year have enabled…
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