Minister of Finance Mangala Samaraweera who is in Jaffna overseeing the implementation of entrepreneurship loan scheme to young people in the northern province Sunday (08) held series of meetings with war affected people to help them to make use of the opportunity under the enterprise Sri Lanka Exhibition to obtain loans. In the morning he…
Reuters – ** Sri Lanka’s rupee closed at its lowest level in over seven months as foreign fund outflows from government securities rose, while stocks extended losses for the third straight session. ** The rupee ended weaker at 180.80/181.00 per dollar, its lowest since Jan. 28. It closed at 180.75/90 on Thursday. However, the currency…
OSLO/KUALA LUMPUR (Reuters) – Telenor (TEL.OL) and Malaysia’s Axiata Group (AXIA.KL) have ended talks to create a telecoms joint venture with nearly 300 million customers across South Asia and Southeast Asia in a blow to the Norwegian group’s growth strategy and shares. Shares in Telenor, which has expanded in Asia in pursuit of growth outside…
Of the five pressing issues for business in Sri Lanka today, taxes trump all else with nearly half of respondents to the latest LMD-Nielsen Business Confidence Index (BCI) survey pointing in this direction- although it is noteworthy that eight in 10 said so in July. In terms of developments on the tax front, the cabinet…
The country’s share of cheque volume with respect to other major payment instruments has dropped by 7.7% during the first quarter of 2019, in comparison to the first quarter of 2018. “Value wise it will change but volume wise it has reduced. Last year also it was the same,” Director – Payments and Settlements of…
Sri Lanka’s leading fashion retailer Odel PLC, says it is working closely with both the government and policy-makers to reduce the duty on imports to render Sri Lanka as an attractive shopping destination to tourists. “As the pioneer in the fashion retail space, Odel is working closely with both the government and policy-makers to reduce…
(Reuters) – Sri Lanka’s rupee fell further on Thursday to close at its lowest level in more than seven months, due to continued foreign fund outflows from government securities after a surprise rate cut last month. ** Foreign investors sold government securities worth of 25.2 billion rupees in the two weeks ended on Aug. 28,…
Maruti Suzuki India reported a nearly one-third decline in sales at 1,06,413 units in August It had also cut production by one-third last month livemint – India’s biggest carmaker Maruti Suzuki announced no-production days at Gurugram and Manesar plants on 7th September and 9th September 2019. In a statement to stock exchanges, Maruti Suzuki India…
According to the latest data released by the Sri Lanka Tourism Development Authority (SLTDA) the tourism arrivals in August 2019 have increased to 143,587 from 115,701 in July 2019. This is an increase of 24% compared to the 115,701 arrivals in July 2019. But in comparison to August last year, there was a decline of…
The regional expansion of the LOLC group has delivered extremely strong results diversifying and balancing the exposure the company has to the local market, Deputy Chairman of LOLC Holdings PLC Ishara Nanayakkara said. “As a result 85% of Profit before tax (PBT) is currently derived from investments in Cambodia, Myanmar, Pakistan, Indonesia and Philippines. This…
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