Sri Lanka’s Government has removed floor rates for Voice Call charges to promote cost optimization and assist the industry to expand their market share, officials had told reports. Telecom and Digital Infrastructure Minister Harin Fernando had told reporters that the move is targeted at bringing more benefit to telecom users as well as companies. Meanwhile…
~ Bank Cost to Income ratio improves to 37.7% ~ Group pays total taxes of Rs 7.6 Bn ~ Bank records PBT of Rs 12.6 Bn and PAT of Rs 8.6 Bn. HNB Group recorded Rs 14.1 Bn in Profit Before Taxes (PBT) for the first six months of 2018, representing a 30.7% Year-on-Year (YoY)…
Sri Lanka East West Properties PLC (EAST) in a disclosure to Colombo Stock Exchange (CSE) said that further to their previous announcements with regard to a new investor, the Directors of East West Properties PLC wish to inform that HPL and their associates have indicated that they are willing to buy only 100% ownership of…
Cochin International Airport closure extended until Aug. 26 SriLankan Airlines has introduced a series of measures to mitigate inconvenience to its valued passengers from the closure of Cochin International Airport due to flooding. On Thursday Cochin Airport authorities announced that they were extending the airport’s closure until 26th August. Accordingly SriLankan is offering passengers booked…
One of the country’s leading poultry industry player Bairaha Farms PLC (BFL) in their latest annual report of the company points out that import restrictions on maize and higher domestic prices of maize are causes for the increased Chicken prices in the country. “As longs as the Government has protectionist policies in place that restrict…
Recent Cabinet Decisions notes that a Hungarian firm Muszer Automatika Ltd., as per the recommendations by the Government of Hungary to Sri Lankan Government had been received the nod to install 417 Railway Level crossings with Hungarian government’s financial assistance. The Cabinet decision further outlined that there are 1,337 Railway level crossings within Sri Lanka…
Reuters – Sri Lankan shares ended marginally weaker on Thursday, marking their fifth straight session of losses, as foreign investors sold market heavyweight John Keells Holdings amid global worries. Foreign investors sold shares worth a net 474.7 million rupees ($2.96 million) on Thursday, extending the foreign outflow to a net 3.24 billion rupees worth of…
Sri Lanka’s latest Cabinet decisions revealed that Sri Lanka’s Bandaranaike International Airport (BIA) Departure Walkway in Katunayake will have 6 Currency Exchange Counters in the future. Accordingly proposal made by Nimal Siripala de Silva, the Minister of Transport and Civil Aviation, to call for bids from the financial institutions approved by the Central Bank of Sri…
Reuters – The Sri Lankan rupee hit an all-time low for a second straight session on Thursday, as importers bought dollars amid fears the local currency could depreciate further tracking weakness in emerging-market currencies, dealers said. Absence of dollar conversions by exporters and remittances also weighed on the market, they added. The rupee fell to…
Recent Cabinet decisions outlined that two Indian origin brothers Ashok Goel and Sudhir Goyel founded Gulf Petrochem FZC was awarded the procurement contracts for purchasing the refined petroleum products to Sri Lanka based on a proposal made by Arjuna Ranatunga, the Minister of Petroleum Resources Development. The Cabinet decisions noted that with a view to…
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