President Maithripala Sirisena said that the future budget suggestions will consider in eradicating the barriers faced by exporters. The government is constantly interfering in empowering the parties related to the export field and to solve their issued as exports is an important field in strengthening the national economy, said the President. President Maithripala Sirsena made…
Fitch Ratings has assigned Singer (Sri Lanka) PLC’s (A-(lka)/Stable) senior unsecured debenture of up to LKR1.5 billion a National Long-Term Rating of ‘A-(lka)’. The debenture will have a tenor of three years and carry fixed coupons. It will be listed on the Colombo Stock Exchange, with proceeds to be used to refinance existing debt. The…
MAS Holdings made history by being recognized as the ‘Exporting Conglomerate of the Year’, as the overall award was introduced for the first time to appreciate and celebrate export excellence by a Sri Lankan corporate at the Presidential Export Awards 2018. At the same event, MAS Intimates was honoured with the coveted ‘Exporter of the…
Reuters – Sri Lankan shares breached the 6,000-point psychological barrier and hit a 30-month closing low on Tuesday, weighed down by a weak rupee and heavy foreign selling in market heavyweight John Keells Holdings. The Colombo stock index ended 0.95 percent weaker at 5,971.21, its lowest close since March 15, 2016. It lost 1.4 percent…
Reuters – The Sri Lankan rupee hit an all-time low of 166.10 per dollar on Tuesday due to dollar demand from importers and banks to facilitate foreign bond outflows, but selling of the U.S. currency by a state bank limited the fall, market sources said. Exporters expect the rupee to be under pressure due to…
SML Frontier Automotive announces investment of over USD 5 m in its Globally-Compliant Retail Centre, integrating sales, service, and spare parts in one location. SML Frontier Automotive, the sole agent of Jaguar Land Rover in Sri Lanka, announced its business growth strategy for the coming year at a press conference, together with the Jaguar…
Sri Lanka’s only capital market’s Colombo Stock Exchange (CSE) All Share Price Index (ASPI) crashed to below 6,000 points today (18). ASPI closed at 5,971.21 points, for a second time in in 3 years since 8th January 2015, whilst ASPI last time crashed below 6,000 points on 22nd March 2017, almost 18 month’s ago. Sri Lanka’s CSE’s…
The Board of Investment of Sri Lanka hosted a delegation of 25 members from the Singapore Business Federation and Law Society of Singapore. The delegation consisted of entrepreneurs and senior lawyers led by Mr. Gregory Wijeyendran President of the Law Society of Singapore. The Law Society of Singapore is a body established under the Legal…
Reuters – The Sri Lankan rupee fell 0.5 percent and hit an all-time low of 166.00 per dollar on Tuesday, weighed down by higher dollar demand from importers amid reluctant greenback sales by exporters, market sources said. The local currency hit a fresh low for a fifth straight session on Tuesday. It closed at 165.00/30…
Addressing the panel discussion at the closing session of the Sri Lanka Economic Summit last week, Sri Lanka’s Prime Minister Ranil Wickremesinghe had pointed out that “China’s Belt and Road Initiative (BRI) will be a massive economic opportunity for Sri Lanka”, further assuring the sovereign interest of Sri Lanka. He further highlighted that the Government…
Video Story
