IMF stresses on Revenue Based Fiscal Consolidation, SOE Reforms and Exchange Rate Flexibility • Revenue-based fiscal consolidation and SOE reforms are needed to put Sri Lanka’s high public debt on a downward path, while providing space for critical social and development goals. • Efforts to rebuild foreign exchange reserve buffers, supported by a prudent policy…
Reuters – ** Sri Lankan shares rose on Thursday after declining for eight straight sessions to a four-month closing low in the previous day, as investors picked up beaten-down stocks ahead of an increase in liquidity, analysts said. ** The rupee closed weaker with investors waiting for directions from next week’s budget and the outcome…
Commercial Credit and Finance PLC Group recorded a strong performance for the quarter ended 31st December 2018 with an un-audited Profit Attributable to Shareholders of Rs. 808,425,246 as compared to Rs. 678,095,749 recorded in the quarter ended 31st December 2017. The Group recorded a growth of Rs. 130,392,497 in Profit Attributable to Shareholders or 9%…
Colombo Stock Exchange in a disclosure today (28) early morning notified investors that trading of the stock counter City Housing & Real Estate Company PLC (CHOU.N0000) will be suspended in terms of CSE Listing Rule 7.5 (d) (l) (9) with effective from 11th March 2019 until the company rectifies non-compliance issue by 8th March 2019.
President Maithripala Sirisena said that the government would facilitate multi-national companies such as Maersk A/S to expand container transshipment through the Port of Colombo as that would be of immense help to Sri Lankan economy. Furthermore the Maersk handles 20% of Twenty Foot Equitant Unit containers (TEUs) at the Port of Colombo and a bulk…
Sri Lanka’s Insurance industry specialist Prakash Schaffter has been appointed to the Board of Bank of Ceylon as a Non-Executive Director. He is currently serves as the Chairman of Janashakthi Insurance PLC and a Fellow of the Chartered Insurance Institute of the United Kingdom with over 25 years of experience in the insurance industry in…
Reuters – ** Sri Lankan shares fell for an eighth straight session on Wednesday and the rupee closed weaker, with investors waiting for directions from next week’s budget and the outcome of talks between government authorities and the IMF, market sources said. ** Sri Lanka has asked the IMF to extend a $1.5 billion loan…
SriLankan Airlines has cancelled flights to the Pakistani cities of Karachi and Lahore scheduled for Thursday, February 28, 2019, following the temporary closure of Pakistani airspace by the Civil Aviation Authority of Pakistan. Passengers who were booked to fly to Karachi and Lahore are kindly advised to contact their travel agents and visit www.srilankan.com for further information….
Air flight carriers including IndiGo, GoAir, SpiceJet, Vistara have kept their flights on hold amid ongoing border tensions between India and Pakistan on Wednesday. Air flight carriers including IndiGo, Jet Airways, GoAir, SpiceJet, Vistara have kept their flights on hold amid ongoing border tensions between India and Pakistan on Wednesday. The five airports including Chandigarh,…
The Ceylon Chamber of Commerce will hold its annual National Budget seminar on 7th March, 2019. The seminar will discuss the implications of key policy changes in Budget 2019 and if it will be positive towards enhancing investments to strengthen Sri Lanka’s economic future. This seminar serves as an important opportunity for the business community…
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