Reuters – ** The Sri Lankan rupee recovered further on Monday, after hitting a record low in the previous week, helped by mild dollar inflows. ** The Colombo Stock Index fell 0.74 percent to settle at 6,022.99. The bourse had lost 5 percent in 2018. ** The turnover was 405.1 million rupees ($2.22 million), less…
Research Report on Sri Lanka’s illicit cigarette market unveiled A report based on a study concerning Sri Lanka’s illicit cigarette market by three eminent professors, was launched today (07th January 2019) at the Senate Room of the Open University of Sri Lanka. The report, titled ‘A Baseline Study on the Illicit Cigarette Market and the…
Tata Nexon has become the first car made in India to fetch a five-star crash test rating from Global NCAP, under its ‘SaferCarsForIndia’ crash test results released on Friday. Ever since 2014, Global New Car Assessment Program (NCAP)—a network of Global crash test programmes—has been conducting crash tests on Indian cars. Earlier, Global NCAP announced four-star…
Sri Lankan billionaire Dhammika Perera controlled Hayleys group owned Carbotels (Pvt) Ltd and Amaya Leisure PLC have informed that they have been approached by a prospective buyer to purchase their total shareholding of 66.20% (subject to due diligence) in Sri Lanka’s famous honeymoon and romantic hotel Hunas Falls Hotels PLC, a recent disclosure to Colombo…
The total number of tourist arrivals to Sri Lanka as at December 2018, recorded to be 2,333,796 tourists which is a 10.3% growth over 2017, when 2,116,407 tourists had visited the country. The recent statistics outline that the total number of international tourist arrivals to Sri Lanka during December 2018 was 253,169. In comparison…
Sri Lanka’s Standard Chartered Bank branch operations has appointed the bank’s first Sri Lankan Chief Executive Officer (CEO), Bingumal Thewarathanthri (Bingu), effect from 1 January 2019, to run local operations a latest report outlines. Speaking on the new appointment, CEO Vietnam and ASA Cluster Markets of Standard Chartered – Nirukt Sapru said that “Standard Chartered…
SINGAPORE (Reuters) – Oil prices rose by more than 1 percent on Monday, lifted by optimism that talks could soon resolve the trade war between the United States and China, while supply cuts by major producers also supported the market. Brent crude futures LCOc1 were at $57.75 per barrel at 0404 GMT, up 69 cents,…
Hayleys Advantis Limited (Advantis), the transportation and logistics arm of Hayleys PLC, announced that it has entered into a landmark deal with Dubai-based Trustworthy.ae Group. Advantis is to operate and manage a state of the art Inland Container Depot (ICD) and third-party Container Freight Station (CFS) being developed by Trustworthy.ae Group in the Khalifa Industrial…
The Central Bank of Sri Lanka (CBSL) entered into a Memorandum of Understanding (MoU) with the Securities and Exchange Commission of Sri Lanka (SEC) and the Insurance Regulatory Commission of Sri Lanka (IRCSL) on 31 December 2018 at CBSL, to conduct effective consolidated risk-based supervision and for CBSL to be the lead supervisor in this…
The Monetary Board of the Central Bank of Sri Lanka, acting in terms of the Regulations made under the Registered Stock and Securities Ordinance and the Local Treasury Bills Ordinance, has decided to extend the suspension of Perpetual Treasuries Limited (PTL) from carrying on the business and activities of a Primary Dealer for a period…
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