The U.S. Embassy signed a Memorandum of Understanding on August 30 with the Matara Chamber of Industry and Commerce to open a new American Corner in Matara. Ms. Nancy VanHorn, the U.S. Embassy’s acting Public Affairs Officer, and Mr. Metta Widanagamachchi, Chairman of the Chamber, signed the Memorandum. Located on the ground floor of the…
Reuters – Sri Lankan shares rose for a fifth straight session on Tuesday and marked their highest close in more than three weeks, led by gains in banking and beverage stocks. However, trading volume was low as investors stayed on the sidelines for want of fresh triggers. The day’s turnover stood at 181.9 million Sri…
Reuters – The Sri Lankan rupee fell to an all-time low on Tuesday, marking its 11th straight session of setting fresh record lows. The rupee, which hit a record low of 161.97 early in the trade, closed at 161.95/162.05 per dollar, compared with Monday’s close of 161.60/70. The currency surpassed its earlier record of 161.65…
The second national Public-Private Dialogue (PPD) on Sri Lanka’s E-Commerce Reform, backed by Geneva’s International Trade Centre (ITC) will open on 6 September in Colombo. The PPD is a part of the EU-Sri Lanka Trade Related Assistance project, worth EUR 8 million funded by the European Union (2016-2020). Minister of Industry and Commerce Rishad Bathiudeen…
Aeroflot, the Russian Airline, will re-launch regular non-stop flights to Colombo from October 28, 2018, the Moscow-based airline announced yesterday. The airline stopped regular flights to Colombo around a decade ago.The flights will operate under the winter schedule effective through March 30, 2019. Tickets are now available for purchase online and at travel agents worldwide….
SriLankan Airlines, the National Carrier of Sri Lanka and a member of the oneworld alliance was awarded two prestigious titles at the World Travel Awards 2018 Asia and Australasia Ceremony held at InterContinental Grand Standford in Hong Kong, yesterday. Whilst the Airline’s launch campaign to Australia titled ‘Two Cities. One Spirit’ was awarded the ‘Asia’s…
LOLC group controlled, Browns Investments PLC owned Browns Hotels & Resorts is ambitious on the completion and success of the company’s Maldives expansion and the projects, the latest annual review of the Browns Investments group highlights. “We are also pleased to report the success of our ventures overseas, namely to the Maldives. Nasandhura Maldives is…
One of the largest conglomerates that has switched from ownership of subsidiaries to a subsidiary after a ‘Brand Switch’ in last two years, Billionaire Harry Jayawardena controlled Distilleries Company of Sri Lanka (DCSL) Board of Directors has resolved that a minimum of 70% pay-out ratio will be maintained in the future. In the latest annual…
Reuters – Sri Lankan shares rose for the fourth straight session on Monday to their highest close in nearly three weeks, led by gains in banking and beverage stocks. The Colombo stock index ended 0.18 percent higher at 6,091.45. It rose 0.4 percent last week, marking the second straight weekly gain. The index, however, lost…
Reuters – The Sri Lankan rupee fell to a new low of 161.60 per dollar on Monday due to higher importer dollar demand, while exporters awaited a reversal in the depreciation trend to convert the U.S. currency, dealers said. The local currency surpassed its earlier record of 161.55 per dollar hit in the previous session….
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