Reuters – The Sri Lankan rupee hit an all-time low for a seventh straight session on Wednesday, dragged down by importer dollar demand amid less inflows of the greenback, dealers said. The rupee, which hit a fresh record low of 161.43 early in the trade, closed at 161.40/50 per dollar, compared with Tuesday’s close of…
In a bid to formalize investments of the Mahapola Higher Education Scholarship Trust Fund, Sri Lanka’s Government Cabinet had decided to liquidate National Wealth Cooperation Limited and the National Wealth Securities Limited belonging to the Mahapola Higher Education Scholarship Trust Fund, and invest all Mahapola Funds only in state banks and Central bank bonds. …
Sri Lanka Billionaire ‘Leverage King’ titled Ashok Pathirage’s Softlogic group controlled Odel PLC in a Colombo Stock Exchange (CSE) disclosure said that Odel acquired 100% stake of Cotton Collection (Pvt) Ltd from Niloufer Esufally Anverally for Rs. 300 million. “The decision to enter into this transaction is in line with the company’s strategy of expanding…
Three daily flights offering over 2400 additional seats per week. SriLankan Airlines is significantly expanding its capacity on the Colombo-Singapore-Colombo route with the introduction of wide bodied Airbus A330 aircraft that are equipped with the latest inflight entertainment systems, luxurious seating and on-board cuisine that is among the finest in the sky, to provide…
Sri Lanka’s over US $ 12 billion or Rs. 2 trillion word funds holding, country’s largest pension fund that manages private sector workers life time savings – Employees Provident Fund (EPF) will come back to the stock market fairly soon according to Central Bank Governor Dr. Indrajit Coomaraswamy. His comments came on the sidelines…
Just crossing little less than 5 years since buying out Sri Lanka’s Retail Queen started Odel via a combined bank leveraged buyout, Sri Lanka’s Leverage King titled Ashok Pathirage controlled Softlogic group had bought another branded retail clothing venture ‘Cotton Collection’ a social media post outlined Tuesday (28). Releasing an official communique via ‘Cotton Collection’…
Reuters – Sri Lankan shares extended losses on Tuesday to hit their lowest close in 17 months, as investors offloaded telecom and beverage stocks, while worries over new tax proposals dented sentiment. The Colombo stock index ended 0.56 percent lower at 6,010.23, its lowest close since March 28, 2017. It closed marginally higher last week…
Earnings from merchandise exports surpassed US dollars 1 billion for the second time during the year to US dollars 1,024 million in June 2018, mainly driven by industrial exports. Under industrial exports, earnings from textiles and garment exports increased significantly due to the higher demand from the EU and the USA while exports to nontraditional…
Reuters – The Sri Lankan rupee hit an all-time low of 161.30 per dollar on Tuesday, dragged down by importer dollar demand amid less inflows of the greenback, dealers said. The rupee, which hit a fresh record low of 161.30 early in the trade, closed at 161.20/30 per dollar, compared with Monday’s close of 161.05/20….
Sri Lanka’s external sector displayed a mixed performance in June 2018, latest data highlights. Even though the lowest trade deficit so far during the year in absolute terms was recorded amounting US $ 795 million in the month of June, the trade deficit widened significantly in comparison to June 2017 level of US $ 554…
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