The Commercial Bank of Ceylon has been named one of the 10 ‘Most Admired Companies in Sri Lanka,’ at an awards ceremony conducted by the International Chamber of Commerce (ICC) in partnership with the Chartered Institute of Management Accountants (CIMA) Sri Lanka. The list was announced at an awards presentation presided over by the Prime…
Social Capital, the venture firm founded seven years ago by former Facebook Inc. executive Chamath Palihapitiya is “imploding,” according to a scathing report in Axios by the venture capital reporter Dan Primack. The article paints a picture of deep dysfunction at the Palo Alto-based firm, which has raised more than $1 billion and has invested in unicorn startups…
Pakistan’s News Daily News International in a recent report said that Sri Lanka’s MW Ventures International and Hirdaramani Group are seeking opportunity to enter into the Pakistan market to expand their business operations, quoting a official at the ministry of commerce. Hirdaramani is a pioneer in the Sri Lankan apparel industry, and boasts a cohesive…
Sri Lanka has introduced a procedure for re-payment of 15% VAT to the foreign tourists on their departure, for the goods purchased by them during their stay in Sri Lanka which will be implemented with effect from today (11th), Finance Ministry says. According to the press release issued Monday (10), a special counter will be…
Several international media sites have quoted a new analysis by Nomura Holdings Inc., which shows that seven emerging economies are at risk of an exchange rate crisis. According to these media sites, Nomura’s analysis lists Sri Lanka as the country that is most vulnerable to an exchange rate crisis. The article that appeared on www.ft.com quotes Nomura analysts…
Seven emerging economies at risk of an exchange-rate crisis are Sri Lanka, South Africa, Argentina, Pakistan, Egypt, Turkey and Ukraine, according to a new analysis by Nomura Holdings Inc. With five of the seven already in a currency crisis or a program run by the International Monetary Fund, that leaves South Africa and Pakistan as…
Reuters – Sri Lankan shares fell to one-week closing low on Monday as foreign investors sold blue chips such as conglomerate John Keells Holdings Plc. The Colombo stock index ended 0.35 percent weaker at 6,096.54, its lowest close since Sept. 3. It rose 0.6 percent last week in its third straight weekly gain. Turnover was…
Reuters – The Sri Lankan rupee ended weaker on Monday as importer dollar demand surpassed greenback sales by banks and the U.S. currency strengthened globally, dealers said. The dollar traded higher against a basket of currencies amid fears of a potentially major escalation in the China-U.S. trade conflict. The rupee hit a fresh low of…
AMCHAM, in collaboration with STAX, recently launched the 2018 whitepaper ‘FDI Landscape and Investor Sentiment in Sri Lanka’ at a gathering of business and government leaders including the Hon. Malik Samarawickrama, Minister of Development Strategies and International Trade. In addition to providing a definitive view of FDI statistics, the whitepaper interweaves expert insights from regulatory…
SriLankan Catering Ltd. has recorded a steady financial performance for the financial year ended 31st March 2018 with a 26% year-on-year growth in operating profits from Rs. 3.03 billion to Rs. 3.81 billion. Its unaudited financial statements also showed that the operating profit ratio which stood at 42% in the last year improved to 44%…
Video Story
