“Japan is getting more serious about preventing China’s dominance of the Indian Ocean” the world famous American family-controlled bi-weekly business magazine – Forbes recently said in a report on Thursday (30th August 2018) adding that last week, Tokyo donated two coast guard patrol craft to Sri Lanka that cost over US $ 11 million to…
Global lending giant focused to reduce poverty in Asia and Pacific via lending, – Asian Development Bank (ADB) on yesterday echoed support and commitment towards Sri Lanka’s continued development drive to achieve inclusive growth, by further announcing a fund of US $ 3 billion over the next three years, till 2021. “From 2019 to 2021,…
Reuters – Sri Lankan shares ended higher on Thursday, moving away from their lowest close in 17 months hit earlier this week, as reports that the main state-owned pension fund would return to the equity market boosted sentiment. The Employees’ Provident Fund, which had halted equity investments in 2015, is set to resume buying and…
Reuters – The Sri Lankan rupee dropped to an all-time low on Thursday, marking its eighth straight session of setting fresh record lows, as dollar demand from importers remained strong amid sluggish inflows. The rupee, which hit a fresh record low of 161.50 early in the day, closed steady at 161.40/50 per dollar, compared with…
EFL (Expolanka Freight) a global freight-forwarding company headquartered in Sri Lanka is setting up its 18th overseas operations in the regional hub of Malaysia. The company is taking over an existing operation managed by its parent company SG Holdings Global and will officially open for business in Kuala Lampur on 1 September 2018. “Malaysia is…
SriLankan Airlines, the largest foreign carrier into India, resumed its services to the southern Indian city of Cochin on 30th August, which had been suspended since 15th August due to the worst flooding in the state of Kerala in nearly a century. Cochin International Airport was closed on August and reopened on 29th August, with…
Nations Trust Bank PLC (NTB) in a disclosure to Colombo Stock Exchange (CSE) said that Chairman of Nations Trust Bank Krishan Balendra will be retiring from the Board of Directors with effect from 1st December 2018 upon completing 9 years on the board as per corporate governance rules in the banking industry. The statement further…
The Commercial Bank of Ceylon has received registrations for a whopping Rs 10 Billion in loans to Small and Medium Enterprises (SMEs), under the government’s ‘Enterprise Sri Lanka’ initiative launched in June this year to stimulate the national economy. The Bank’s concessionary interest loans were disbursed under four designated schemes: ‘Jaya Isura’ for SMEs; ‘Ran…
At the peak of the event that brought in Sri Lanka’s foremost 6 businessmen in the country who control the key sectors of the economy, including Casinos, Banking, Export Crops, Power and Energy, Apparels, Retail, Liquor, Construction Sri Lankan Billionaire Sumal Perera went on to suggest that another Billionaire Dhammika Perera should be the next…
Reuters – Sri Lankan shares rebounded on Wednesday, from their lowest close in 17 months, boosted by local media reports citing the central bank governor that the main state-owned pension fund will return to the equity market. The Employees’ Provident Fund, which had halted equity investments in 2015, is set to resume buying and selling…
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