According to the latest monthly LMD-Nielsen Business Confidence index (BCI) survey one in four businesspeople consulted by Nielsen, for LMD’s publisher Media Services anticipates that the economy will improve over the next 12 months, which is largely in line with the previous month’s survey results. A further 46% of respondents expect economic condition to remain…
(Reuters) – Sri Lanka’s stocks fell for the fourth straight session on Wednesday to a 10-week closing low, while the rupee closed higher. ** Stock brokers said investors were worried of political uncertainty after a Sri Lankan court set up a three-judge panel on Monday to hear a petition challenging the citizenship of presidential nominee…
Leading construction group Access Engineering PLC (AEL ) has bought 100% of the issued shares of W U S Logistics (Private) Limited for Rs. 925,000,000/-. AEL in a stock market disclosure announced that W U S Logistics (Private) Limited owns a land of 41.5 acres situated in Kimbulapitiya to be used for warehousing purposes. On…
The ‘Mahaweli Entrepreneurship Presidential Awards Ceremony 2019’ to felicitate the resourceful contribution made towards the development process of the country by the industries of four corners of lands that nourish through the Mahaweli waters, was held under the patronage of President Maithripala Sirisena at the BMICH, Tuesday (01). This awards ceremony was organized under the…
The Colombo Stock Exchange (CSE) in association with the Securities and Exchange Commission of Sri Lanka (SEC) recently engaged the business community based in the Eastern Province to create awareness on capital raising options available to entrepreneurs through a stock exchange listing. The event marked the first occasion a forum on stock exchange listings has…
The Research Intelligence Unit (RIU) in its recent report titled “Economics of Tobacco Taxation in Sri Lanka: Effects and the need for a Prudent Framework” revealed that the current tax policy has caused significant market distortions from legitimate to illicit, which will undermine the Government’s efforts to deter smoking. Most recently, at the Big Issue…
Cabinet yesterday (01) approved a proposal made by the Minister of Finance to present the Vote of Account for the first four months of 2020. Since the Presidential election is due to be held on 16 November 2019, Cabinet agreed to postpone the commencement of the preparation of the annual Budget for the year 2020,…
The cabinet has given its approval to pay an allowance of Rs. 15,000 to executive state officers. The decision was taken after considering a report submitted by the cabinet subcommittee appointed on September 27 to study and address the issue of salary anomalies of public servants. Previously the allowance ranged between Rs. 3,000 to Rs….
Hayleys PLC in a stock exchange filling yesterday (1) announced the appointment of Gamini Gunaratne to its Board as an Independent Non-Executive Director. Gunaratne currently serves as the Chairman of Lanka Hotels and Residencies Ltd. and Urban Investments and Development Company Ltd. In addition, he holds the position of Director of Lanka Walltiles PLC, Lanka…
Reuters – ** Sri Lanka’s rupee closed weaker on Tuesday, following continued demand from importers and banks, while equities ended lower for the third straight session. ** The rupee ended 0.11% weaker at 182.20/40 per dollar compared to Monday’s close of 182.00/10. The rupee fell 0.41% last week. However, the currency is up 0.22% this…
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