Reuters – ** The Sri Lankan rupee ended firmer on Friday, helped by inward dollar remittances, but foreign investors continued to exit from bonds and stocks as a lingering political crisis weighed on market sentiment. ** Foreign investors sold a net 17 billion rupees ($95.3 million) worth of government securities in the week ended on…
The signing ceremony of the FAO-China South-South Cooperation Tripartite Agreement between the Food and Agriculture Organization of the United Nations (FAO), the People’s Republic of China, and the Democratic Socialist Republic of Sri Lanka took place at FAO headquarters on 6 December 2018. The aim of this South-South Cooperation project is to help Sri Lanka boost…
From being second largest importer of Sri Lankan Tea or renowned Ceylon Tea, the OPEC’s second-largest oil producer – Iraq that suffered a political crisis and a warfare from 2003 since American Invasion has emerged As Sri Lanka’s number one tea buyer which was reflected in the January – October 2018 official tea export statistics…
The recently released official data as at 30th November 2018 points out that 2,080,627 tourists had visited Sri Lanka for this year reporting 11.2% growth over last year when 1,871,871 tourists had visited the country during the same period. Analysts are in the view, the Cricket fans from the United Kingdom had made it possible…
George Steuart Teas (Pvt.) Ltd., one of the top tea exporters in Sri Lanka, recently announced that it has won the intellectual property case against Unilever Lipton Ceylon Ltd. The ruling was issued by the Commercial High Court of Colombo on 23rd November 2018, pertaining to a lawsuit filed by Unilever Lipton Ceylon on 25th…
The global recognition to Sri Lanka’s passport has gone up by 9 notches to 84th in the latest world rankings released this week, a Passport Index highlights. However it was parallel ranked along with Lebanon and Libya. The Passport Index further notes that Sri Lanka has visa-free access to 16 countries and visa on arrival…
Strikes estimated to cause the industry a loss of approximately Rs. 240 million per day Reiterates that Rs. 1,000 is easily attainable with just 1kg productivity increase Warns that gratuity and wages could rise to Rs. 20 billion annually Revenue share model has potential for as much as Rs. 80,000 monthly earnings In the wake…
Reuters – ** The Sri Lankan rupee closed slightly firmer in dull trade on Thursday, helped by dollar inward remittances. ** The rupee ended at 179.15/20 per dollar on Thursday, compared with 179.20/25 in the previous session. ** Credit rating agencies Fitch and Standard & Poor’s downgraded Sri Lanka’s sovereign rating on Tuesday, citing refinancing…
Fitch Ratings has downgraded the Long-Term Foreign- and Local-Currency Issuer Default Ratings (IDRs) of the following Sri Lanka-based financial institutions following the downgrade of Sri Lanka’s sovereign rating: – National Savings Bank (NSB) to ‘B’ from ‘B +’; Outlook Stable – Bank of Ceylon (BOC) to ‘B’ from ‘B +’; Outlook Stable – DFCC Bank…
Recent international reports from international media said that Huawei Founder Ren Zhengfei’s Daughter and Chief Financial Officer (CFO) Meng Wanzhou, also known as Sabrina Meng and Cathy Meng, was arrested in Vancouver on December 1, according to Canadian Justice Department spokesman Ian McLeod. Reports further highlighted that in addition to her role as CFO, Meng…
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