Bringing together the community to collaborate in a unique initiative, the campaign, Positive Sri Lanka, is calling on businesses, big and small, to participate in generating positive momentum in the economy. Initiated by a group of like-minded private citizens coming together to address the needs of this economic crisis, the Positive Sri Lanka campaign was…
Fitch Ratings-Colombo/Taipei-01 July 2019: Fitch Ratings has revised the Outlook on Mercantile Investments and Finance PLC (MIF) to Negative from Stable and has affirmed the ratings. At the same time, Fitch has affirmed the ratings of the following Sri Lankan finance companies: – Central Finance Company PLC (CF) – LB Finance PLC (LB) – Senkadagala…
Sampath Bank in a stock exchange filing on Friday (28) announced that the Board of Directors was successful in allotting all of the shares that remained unsubscribed at the close of the Rights issue of the Company. Accordingly, the Bank has successfully raised Rs. 12.1 billion via its Rights Issue. The Rights Issue involved 89…
The newly appointed chairman of the Ceylon Chamber of Commerce, Dr. Hans Wijayasuriya urged the private sector to be a part of solution for Economic Resurgence, in order to place Sri Lanka in a leading position in terms of growth, competitiveness and social development indices relative to regional peers. “Today, 17 committees within the chamber…
Dr. Hans Wijayasuriya new chairman of Sri Lanka’s Ceylon Chamber of Commerce The Ceylon Chamber of Commerce inducted Dr. Hans Wijayasuriya as its new Chairperson during its 180th AGM on Friday (28). Dr. Wijayasuriya, who is the Corporate Executive Vice President and Regional Chief Executive of Axiata Group Berhad, succeeded veteran banker Rajendra Theagarajah as…
Chairman of Sri Lanka Tourism Authority Kishu Gomes says that the tourism industry is recovering faster than expected, despite the recent terrorist attack. Gomes made these remarks, during a press conference which was held in Colombo recently. Speaking further Gomes noted that, Currently, Sri Lanka is thinking beyond just recovery and the country will be…
The salary increment and other allowances for public servants proposed by Finance Minister Mangala Samaraweera in his budget 2019 is effective from today (July 01). All public servants, including Tri-Services personnel and government pensioners will benefit by the salary and pension increases. The Government has made an additional allocation of Rs.40 billion for this purpose,”…
(Reuters) – Sri Lankan shares ended firmer at a more than one-week high on Friday buoyed by gains in beverage stocks, posting their first monthly gain this year, while the rupee edged up on dollar sales as month-end inward remittances surpassed importers’ greenback demand, market sources said. ** The benchmark stock index ended 0.51% firmer…
The Colombo Branch of the Bank of China Limited has signed a Memorandum of Understanding with the Commercial Bank of Ceylon, paving the way for Commercial Bank to provide loan facilities on special terms to its staff. The MoU allows members of the staff of the Bank of China Limited – Colombo Branch to obtain…
Addressing the media yesterday (27) Tourism Development Minister John Amaratunga noted that the decision made by President Maithripala Sirisena to enforce the death penalty could lead to the loss of GSP+ preferential trade concession. The minister made this remark, after head of delegations of several Western states, including the European Union, wrote to Sri Lanka’s president…
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