Reuters – Sri Lankan shares ended marginally higher on Monday, hovering near a six-week high hit last week, as trade turnover touched a more than four-month high amid continued foreign fund outflows, while the rupee ended weaker on dollar demand from importers. ** The benchmark stock index ended 0.02% firmer at 5,384.93, steadying near its…
Sri Lanka’s stock market turnover reached Rs.2.18 billion by the end of the day, amidst high net worth investor Dr. T. Senthilverl was reaching his portfolio ownership to his company Senthilverl Holdings (Pvt) Ltd, trading data showed. The highest turnover so far for this year was reported Rs.3.3 billion rupees on February 11. Dr. T….
Opening up new vistas for further strengthened cooperation and understanding between the Armed Forces of Sri Lanka and India, a uniquely crafted reciprocal expedition project came into effect on Saturday (15) with the arrival of 159 strong Indian tri force delegation with spouses in Sri Lanka and the simultaneous departure of 162 member team of…
India’s response comes after the US withdrew preferential access for Indian products starting 5 June India repeatedly postponed the imposition of tariffs since they were first announced last year New Delhi: India has raised tariffs on 28 items exported from the US with effect from Sunday in retaliation to America’s withdrawal of preferential access for…
The proposal made by Finance Minister Mangala Samaraweera in his budget 2019 to remove the pensioners’ salary anomalies will be implemented effective from next month. Accordingly, over 500,000 public servants who retired before December 31,.2015 will be benefited by the removal of this salary anomaly. The monthly salary of the public servants who retired before…
Hong Kong Business tycoon and philanthropist Li Ka-Shing, Former Chairman of CK Hutchison Holdings, which is the primary shareholder of Hutchison Telecommunications Lanka (HTLL), recently opened a multi-million dollar Buddhist Art Museum in Hong Kong. The Museum sits in the Tsz Shan Monastery which he also helped build. The monastery and the museum were both…
The Government’s vision 2025 – A Country Enriched policy document has identified the importance of enhancing the access to finance for the micro, small and medium enterprises. Accordingly, the Government launched the “Enterprise Sri Lanka” Loan Schemes on an Island-wide basis in 2018, to create an entrepreneurial society, particularly amongst our youth, by providing access…
Speaking exclusive to Ada Derana first at 9, Sri Lanka’s Ambassador to France B.K. Athauda noted that revival of the tourism sector in the aftermath of the Easter Sunday attacks is not a responsibility that should merely lie with Sri Lanka bureaucrats. Ambassador Athauda notes that, the whole country including diplomats have a major role…
After the successful and pioneering training for Sri Lanka’s bamboo craftsmen in early 2019, the second phase of the program will take-off in Colombo on Saturday 15 June. The project, pioneered in early 2019 by UNIDO, introduces international bamboo craft expertise for local craftsmen for the first time. Launched by the United Nations industrial Development…
Sri Lanka’s First Capital Research has upgraded their exchange rate outlook for 2019E to US $1: Rs.180 from RS.194 as their 65% base case scenario. The firm has also introduced a 12-month target for June 2020E of US $ 1: Rs.185 as a 60% base case scenario. “In spite of the recent rate cut, the…
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