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…
The Cabinet of Ministers approved the proposal to award the contract of importing 1.04 million barrels of diesel and 1.28 million barrels of Jet A-1 with respect to a period of 8 months from 1st October 2019 to 31st May 2020 to M/s Mena Energy DMCC and to award the contract for importation of 900,000 barrels of…
Leaders in Apparel exports, Brandix, with a global base of 60,000 Associates were bestowed with the accolade ‘Exporter of the Year’ by President Maithripala Sirisena at last evening’s prestigious Presidential Export Awards 2018/2019. The award was accepted by Brandix Directors Ranga Ranmadugala and Dave Ranasinghe (L to R) on behalf of the company. Brandix received…
Sinhaputhra Finance PLC, non-bank lender in Sri Lanka has been given time to raise capital, the Central Bank said. “Further to the Press Notices published on September 8 and 9 on the regulatory actions taken against the above Company, the Monetary Board of the Central Bank of Sri Lanka (Monetary Board) wishes to inform the…
Reuters – ** Sri Lanka’s rupee closed weaker for the fourth straight session on Thursday on continued demand for dollars from banks, while equities were little changed at close. ** The rupee was weaker by 0.1% at 180.85/181.05 to the dollar, compared with Wednesday’s close of 180.70/80. The currency is up 0.97% this year. **…
Central Bank needs to protect its independence and preserve its accountability to the nation former Deputy Governor of the Central Bank of Sri Lanka, Dr. W.A. Wijewardena said. “We should be accountable to the nation and that is what we have to maintain. In modern Central Banks this has been ensured by having special provisions…
CNN’s foremost international business correspondent and host of ‘Quest Means Business’, Richard Quest arrived in Sri Lanka today (19) to attend the third edition of the ‘Future of Tourism Summit’ (FOT 2019), which will take place on the 23 of September, at the Cinnamon Grand Colombo. Quest was greeted at the Bandaranaike International Airport by…
The third event of the ‘Listed Company Feature Series’ organized by the Colombo Stock Exchange (CSE) in association with the Colombo Stock Brokers Association (CSBA) was organized recently and featured Commercial Bank of Ceylon PLC and Dialog Axiata PLC. This unique series brings together S&P SL 20 companies and Local Institutional and High-net-worth Investors for…
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