Sri Lanka’s largest Ferris Wheel, will soon make its first spin, soaking up bird’s eye views across the capital city and its suburbs. The iconic wheel would be part of a staggering 1.5-acre entertainment zone, ‘Fantasy Island’ which also houses a large water park and an impressive snow cave. With its groundbreaking ceremony having taken…
2018/2019 has been a challenging year, specifically for those businesses supplying goods and services to the construction sector, the chairman of Lanka Aluminium Industries PLC, S.T. Nagendra said in the Annual Report and the Audited Accounts of the company for the year ended 31st March 2019. “During the first part of the year, the negative…
Sri Lanka’s rupee ended a tad firmer on Monday, ending a five session losing streak, but worries over further foreign outflows after the central bank cut key monetary policy rates weighed on sentiment. Stocks closed weaker for the fourth straight session. ** Foreign investors sold net 12.9 billion rupees worth of government securities in the…
The central bank of Sri Lanka is preparing to issue samurai bond of US $500 million in October or November. Central Bank Governor Dr. Indrajit Coomaraswamy said that a Cabinet paper would be presented tomorrow (27) which would give approval to release the Request for Proposals (RFPs) for $ 500 million Samurai bond and to…
Starting from the winter season, LOT will fly from Warsaw to Colombo in Sri Lanka with flights being operated seasonally, from November 3rd to March 28th, three times a week by modern Boeing 787-9 Dreamliners. With the new series of seasonal flights, Colombo becomes the sixth Asian long-haul destination in the growing network of Poland’s…
The latest data from the Central Bank of Sri Lanka points out that Foreigners had gradually exited from Sri Lanka’s Government Securities (Treasury Bills and Treasury Bonds) and pulled out over Rs.12.8 billion during the period from 13 August to 21 August 2019. The value of Government Securities held by foreigners had fallen from Rs.136,…
Fentons Limited, a leading integrated engineering solutions specialist, announced that it had re-branded as “Hayleys Fentons” following the Hayleys acquisition of a further 24.5% of the company’s issued share capital in of the company in July 2019, increasing Hayleys PLC stake to 99.5% of the Company. “As a group with over 141 years of rich…
Sri Lanka is well on track to attract 2 million tourists by the end of this year, Sri Lanka Tourism Promotion Bureau (SLTPB) Chairman Kishu Gomes said while addressing an event in Colombo recently. “Last year in August we had 217,000 tourists visiting the country. This month, without the Bora Conference, our estimate is 155,000….
Sri Lanka’s State-Owned Enterprises (SOEs) has been the topic of debate for many years now. Discussions around it have covered improving profitability, service and governance while examining the root causes for the continued losses incurred by SOEs. Some of the solutions for reforms are well known, but its implementation has been weak – leading to…
Central bank of Sri Lanka intervened in the foreign exchange market in the last few days, Governor of CBSL Dr. Indrajit Coomaraswamy said whilst addressing the media in Colombo today (23). “Last three days or so we think the pressure that has been in the forex market is not align with the underline fundamentals. We…
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