Reuters – ** Sri Lanka’s rupee closed weaker for the sixth straight session on Monday, while equities closed lower ahead of a key decision by Prime Minister Ranil Wickremesinghe’s ruling party on its candidate for the Nov. 16 election. ** The market has been waiting for Wickremesinghe-led United National Party (UNP) candidate and its policies,…
The tourism industry is vital and it is not going to be a political football, Prime Minister Ranil Wickremesinghe said during an interview with famed CNN international correspondent, Richard Quest at the ‘Future of Tourism Summit’ (FOT 2019) in Colombo. Quest asked an important question: “The tourism industry is vital. The industry is fundamental to…
According to J. B. Securities monthly review, Vehicle registrations in August were flat in comparison to July in most categories. Total motor car registrations recorded 2,385 units in August down from 2,584 units in July and significantly down from 7,003 units 12 months ago. Brand new cars recorded 361 units in August up from 299…
The authorising US statute only allows the Millennium Challenge Corporation to fund low income and lower-middle income countries, and as Sri Lanka has transitioned into an upper-middle-income country, its window of opportunity to capitalise on the MCC could be closing, an official said. “This is not unique to Sri Lanka. We are not pushing it….
Hemas won the Grand Award for Asia’s Most Socially Responsible Company of the year at the Asia Corporate Excellence & Sustainability (ACES) Awards Ceremony held in Bangkok, Thailand. The award was presented to Hemas for their commendable efforts in championing sustainable and responsible business whilst adopting an ethical and holistic approach to profit, planet and people….
British tour operator Thomas Cook has ceased trading and all its hundreds of thousands of bookings canceled after the firm failed to secure rescue funding. The Civil Aviation Authority (CAA) announced the firm’s collapse early Monday. More than 600,000 vacationers had booked through the company. CAA said 150,000 are British customers now abroad who will have to…
Fitch Ratings has assigned a final ‘B’ rating to SriLankan Airlines Limited’s (SLA) USD175 million government-guaranteed 7% unsecured bonds due 25 June 2024. The final rating on the bonds is in line with the expected rating assigned on 19 June 2019, and follows the receipt of final documents conforming to information received earlier. The…
Reuters – ** Sri Lanka’s rupee closed weaker for the fifth straight session on Friday on continued demand for dollars from banks, while equities ended the week on a negative note. ** The rupee was weaker by 0.14% at 181.10/20 to the dollar, compared with Thursday’s close of 180.85/181.05. The currency is down 0.47% for…
Sri Lanka’s gross domestic product expanded 1.6% in the second quarter, of 2019 from a year earlier, in the wake of Easter Sunday attacks on April 21 2019. Releasing National Accounts Estimates for the second quarter of 2019, the Department of Census and Statistics (DCS) stated that the Gross Domestic Product for Sri Lanka for…
The 2015 newly established and German-supported Sri Lanka German Training Institute (SLGTI) in Kilinochchi received modern industrial training equipment through a grant worth up to Rs 110 million. The donation of training equipment is a result of a partnership agreement between the Stassen Group and the Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH, on behalf…
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