Sri Lanka’s Colombo Stock Exchange (CSE) reported the lowest Daily Turnover in the latest history today which was merely a Rs. 68.77 million with little over 3.14 million shares changing hands among traders as at the end of the trading day on 4th January 2018. This is recorded to be the lowest daily turnover ever…
India’s state-run Airports Authority of India (AAI), which plans to build airports abroad, is yet to get the India’s Ministry of External Affairs’ (MEA) nod to develop Sri Lanka’s Palaly airport, a recent international media report highlights. Palaly is located in the Tamil-dominated Jaffna region of northern Sri Lanka, traditionally considered close to India. Reports…
Sri Lanka’s Development Strategies and International Trade Minister Malik Samarawickrama recently told reporters that Sri Lanka is estimated to drawn over US $ 2.2 billion as foreign direct investments (FDIs) last year, which is an all-time high recorded. “We are still reviewing the final statistics, which may be released towards the end of this month….
Sri Lanka’s leading property portal LankaPropertyWeb has announced the acquisition of the country’s no.2 property portal lamudi.lk, firmly establishing the company as the dominant portal in the country. The acquisition includes the lamudi.lk domain and all its listings, plus the local operations of Lamudi Sri Lanka. With this acquisition, LankaPropertyWeb aims to expand its reach…
Reuters – ** The Sri Lankan rupee ended steady near a record low on Thursday as foreign fund outflows mainly, from government bonds, continued amid dented investor sentiment after a recent political crisis. ** The currency fell 19 percent in 2018, making it one of the worst performing currencies in Asia, as heavy foreign outflows…
Two European Union Parliamentary Members, Lord William Dartmouth and Geoffrey Van Orden, who visited Sri Lanka as members of the “Friends of Sri Lanka Group”, paid a courtesy call on the Minister of Finance and Mass Media Mr. Mangala Samaraweera, at the latter’s office on 2nd January. During the call both the parties exchanged views…
Presenting the vision for the months ahead through ‘Road Map 2019 – Monetary and Financial Sector Policies for 2019 and Beyond’ Sri Lanka’s financial market regulator Central Bank said that industrial activities slowed in 2018 mainly due to the slowdown in the construction sector. On the other hand analysts points out that Post-war Sri Lanka…
Sri Lanka’s Tourism Development Minister John Amaratunga has said that yet again Sri Lanka’s tourist arrival target of 2.5 million tourists for year 2018 fallen short as a result of the political upheaval experienced post-26 October. Sri Lanka had repeatedly missed the 2.5 million arrival target since 2016, however Amaratunga is highly optimistic that Sri…
Reuters – Sri Lanka plans to restrict foreign holdings of government securities to a maximum 5 percent from the current 10 percent to prevent possible hot money flows and improve the quality of reserves, the country’s central bank chief said on Wednesday. The surprise move comes after the island nation suffered about $1 billon in…
Unveiling ‘Road Map: Monetary and Financial Sector Policies for 2019 and Beyond’, Sri Lanka’s Central Bank Governor Dr. Indrajit Coomaraswamy said that the Central Bank, assisted by legal experts from the International Monetary Fund (IMF), is in the final stages of drafting the revisions to the Monetary Law Act (MLA), which will address long standing concerns,…
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