Central Depository Systems (Pvt) Ltd (CDS), a fully owned subsidiary of the Colombo Stock Exchange (CSE), has bolstered its client portfolio in Corporate Action services and Registrar services with the addition of Distilleries Company of Sri Lanka PLC (DCSL) and Melstacorp PLC (Melsta). CDS launched these services in mid-2018 and is presently offering services to 18 clients…
Business Sentiment – Index Takes A Hit In Hard Times Profits of Sri Lanka’s listed companies declined by as much as 10 percent year on year in the quarter ended 30 September 2018, according to a report filed by First Capital Holdings, which also points to lower consumer spending during this period. The report notes…
Dialog Axiata announced 31st December 2018, a major step forward in Sri Lanka’s 5G journey with the commissioning of South Asia’s first fully functional and standards compliant 5G transmission using commercial grade base stations and end user devices. Dialog’s pre-commercial 5G transmission was enabled in collaboration with the Telecommunications Regulatory Commission of Sri Lanka (TRCSL)…
Sri Lanka’s leading conglomerate – John Keells Holdings’ Chairman Susantha Chaminda Ratnayake retired at the end of 31st December 2018 after a long tenure in the company, making way for a new team to take over the reins at the country’s largest listed conglomerate, as announced in the Group’s succession plan. Ratnayake served as the…
Reuters – ** The Sri Lankan rupee fell 19 percent in 2018, making it one of the worst performing currencies in Asia, as heavy foreign outflows from government securities weighed on the local currency. ** The rupee hit a record low for a seventh straight session on Monday on continued outflows of foreign funds mainly…
Sri Lanka’s premier connectivity provider, Dialog Axiata PLC and Mastercard, the leading global payments and technology company, signed a strategic partnership agreement recently to drive the adoption of digital payments in Sri Lanka. The partnership will enable opportunity for shared technology platforms and facilitate open loop payments, whilst accelerating the adoption of Mastercard’s digital payment…
The Port of Colombo handled its 7 millionth TEU on 31st December 2018. A special function was held at the Jaya Container Terminal (JCT) of Sri Lanka Ports Authority (SLPA) to celebrate the handling of the 7 million mark. The function was graced by Hon.Minister of Ports, Shipping and Southern Development Sagala Rathnayake with the…
Colombo International Container Terminals (CICT) has reported handling 2.65 million teus for the 12 months ending 31st December 2018, recording a 13 per cent increase in its annual throughput and contributing 38 per cent of the Port of Colombo’s volumes in the year just concluded. A significant factor in the achievement of 7 million teus…
Dr. R. H. S. Samaratunga has been reappointed as the Secretary to the Ministry of Finance and Mass Media, stated the Finance Ministry. Accordingly, Dr. Samaratunga assumed his duties at the Ministry this morning (31).
One of Sri Lanka’s leading investment banks – First Capital Holdings’ research arm First Capital Research in an ‘Equity Strategy’ report points out that increase in equity exposure from 50% to 60% is favourable amidst an upgrade of All Share Price Index (ASPI) volatility expectations to 6,000-6,500 (up from their previous prediction of 5,800 –…
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