Central Bank Governor yesterday (8) defended imposing lending rate caps insisting that it would give a strong boost to the economy by March once the election cycle is over. “Nominal growth at the moment is 8%, so that is 5% inflation and 3% growth, But if the average weighted lending rate is higher than that,…
Sri Lankan Holidays launch was held on 18th of September 2019 at Pullman Hotel in Dubai with a large number of guests participating. Around 55 agents attended this event, from top travel agents to media and corporate houses specifically targeting the travel and leisure market. Sri Lankan Airlines, along with SLTPB was invited to participate…
AmSafe Bridport (Pvt) Ltd opens new factory at BOI’s Wathupitiwala EPZ creating new production and employment opportunities BOI enterprise AmSafe Bridport (Pvt) Ltd opened a new Factory at Phase III at the Wathupitiwala Export Processing Zone. Amsafe Bridport (Pvt) Ltd was established in November 2001 as Wathupitiwala and was 100% British, but is now…
Mr. Sidath Kodikara President of Sri Lanka Retailers’ Association (SLRA) and Mr. Murali Prakash, Vice president of SLRA attended the 19th Asia-Pacific Retailers Convention and Exhibition (APRCE), which is held from 5th to 7th September 2019, at Chongqing Yuelai International Convention Center, Chongqing, China. The theme of this year APRCE was ‘New Retail, New Consumption,…
(Reuters) – ** Sri Lankan stocks closed firmer on Tuesday led by blue chips while local investors picked up retail shares, amid foreign selling from the Indian Ocean island’s risky assets before the start of presidential poll campaign. The rupee currency also ended firmer. ** Local investors picked up select shares after the former wartime…
MTD walkers in a stock exchange filling yesterday (07) announced that they have received an enjoining order from the Commercial High Courts of Colombo preventing the company from being taken over by Ravi Wijeratne. The order has been obtained by Commercial Bank of Ceylon PLC from the Commercial High Courts of Colombo preventing MTD Walkers…
For a record 14th year, John Keells Holdings PLC (JKH) was ranked as the Most Respected entity in Sri Lanka, in the recently released edition of LMD’s Most Respected entities issue. In terms of the 10 attribute rankings, JKH has taken the lead in seven categories, namely financial performance, management profile, honesty, dynamism, corporate culture, CSR and vision….
Pre-Policy Analysis – First Capital Research Oct 2019 Previous Pre-Policy report; CBSL reduces its policy rates by 50 bps Contrary to our expectation, CBSL, decided to reduce SDFR and SLFR by 50bps each to 7.00% and 8.00% respectively, one policy meeting ahead of our forecast, with the aim of boosting credit flows to productive sectors…
Hilton Colombo demonstrated extraordinary resilience in 2018 despite serious challenges faced by the country, Chairman of Hotel Developers (Lanka) PLC, Krishantha Prasad Cooray said. He said that the tourism industry had faced several setbacks in the financial year ended on 31 December 2018. “The Company was poised to welcome a record number of guests in…
Consortium of local banks funds optimisation of cash flow at final phase of completion A consortium of leading local banks, comprising of the Bank of Ceylon, NDB Bank and National Savings Bank has raised a syndicated loan of US$ 25 million (Rs 4.5 billion at current rates) for Sri Lanka’s showpiece high rise property development…
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