Reuters – Sri Lankan shares ended lower for a sixth straight session on Monday, posting their lowest close in more than six years, dragged down by diversified shares such as conglomerate John Keells Holdings Plc. ** The market awaits cues from the third and final vote on the 2019 budget scheduled for April 5, market…
SriLankan Airlines flight UL504 from London to Colombo on 24th/25th March was diverted to Bucharest, Romania, due to a passenger’s medical emergency. In keeping with SriLankan’s corporate policy of placing the safety of every single passenger above all else, the captain took the decision to divert to the nearest airport and alerted airport authorities at…
The Central Bank of Sri Lanka will open a Counter at the ground floor of the Central Bank Head Office Building, No.30, Janadhipathi Mawatha, Colombo 01 on 27 March 2019, to issue coins to the general public. This counter will be opened for the public from 9.00 a.m. to 11.00 a.m. on every Wednesday and…
A special market opening ceremony was held at the Colombo Stock Exchange (CSE) today in recognition of the Ceylon Chamber of Commerce cerebrating 180 years. The Ceylon Chamber of Commerce (CCC) was founded on 25 March 1839, for the purpose of best promoting the interests of commerce. This was among the very first group of…
The increase in taxes on imported vehicles in Sri Lanka is likely to cause the growth in motor insurance policy premiums to slow in the near term, says Fitch Ratings. The government’s 2019 budget presented in March increased excise duties on imports of fuel-powered and hybrid passenger-motor vehicles based on their engine capacities. The government…
The Sri Lankan Association of Software and Services Companies (SLASSCOM) is pleased to see several concessions proposed in the 2019 National Budget to accelerate the revenue growth and increase capacity within the knowledge solutions industry. The IT/BPM industry is recognized as a thrust industry within the National Export Strategy (NES) and is promoted globally as…
HAMBANTOTA, Sri Lanka (Reuters) – Oman’s oil minister said on Sunday he was excited to be part of a Sri Lanka oil refinery project in a sign that plans for the sultanate’s involvement may be back on track. Sri Lanka said last week that Oman Oil Co had made clear it was interested in taking…
Government of Sri Lanka has accorded high importance to the development of infrastructure including expressway network with inter-connectivity as it will directly contribute to the economic growth and will have indirect effects in raising the productivity and efficiency in different economic sectors. To complement the existing expressway network, Central Expressway Project (CEP) has been initiated…
Bloomberg – A proposed oil refinery in Sri Lanka could boost a barely used Chinese-operated port that has piled on debt for the country and fueled criticism of President Xi Jinping’s signature Belt and Road infrastructure-building initiative. The $3.9 billion refinery project will be located near the southern Sri Lankan port of Hambantota, which was…
Headline inflation as measured by the yearon-year change in the National Consumer Price Index (NCPI, 2013=100) increased to 2.4 per cent in February 2019 from 1.2 per cent in January 2019 mainly due to the base effect. Meanwhile, year-on-year Non-food inflation increased to 6.7 per cent in February 2019 from 6.5 per cent in January…
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