The external sector performance in November 2017 was supported by continued inflows to the financial account of the Balance of Payments (BOP) mainly with higher foreign inflows to the government securities market, and marginally improved earnings from tourism. Although a double-digit growth in exports has been recorded, partly driven by the low base recorded in…
Qatari Emir Sheikh Tamim bin Hamad Al Thani has ratified a number of international cooperation agreements in various fields, including a deal between Qatar and Sri Lanka. The Xinhua news agency quoted the Qatar News Agency (QNA) as saying the Emir ratified a deal on visa exemption and collaboration in health and medical sciences between…
Reuters – Sri Lankan shares rose for a second straight session on Thursday to their highest close in more than three weeks as foreign buying boosted sentiment, brokers said. The Colombo stock index ended up 0.34 percent at 6,498.45, its highest close since Jan. 10. “The positive sentiment is continuing. Both local retailers and foreigners…
On an application made by the Attorney General on behalf of the Criminal Investigation Department, the High Court of Colombo earlier today made order extending the order made last week by the Director of the Financial Investigation Unit of the Central Bank freezing all bank accounts of 24 companies of the Perpetual Treasuries Group LD…
AirAsia today announced a special deal of RS.12,699 for direct flights from Colombo to Kuala Lumpur, Malaysia. The exclusive promotion is part of the airline’s efforts to further engage the local market ahead of its plans for 2018. Travellers can discover the best of Malaysia with the iconic attractions and world-class shopping experience in…
Sri Lanka’s National Mobile Service Provider, Mobitel, is proud to be the first to initiate the roll out of the 4.5G network to revolutionize the industry and to significantly enhance user experience for its valued customers. This strategic initiative by Mobitel positions the company to be the pioneer in the industry to upgrade its technology…
Bloomberg – PT Kalbe Farma, whose antacid drug Promag is a household name in Indonesia, is seeking a partner in Sri Lanka and eyeing the Middle East as a new market for its nutritional products. The pharmaceutical company, Southeast Asia’s biggest, will initially export its products to Sri Lanka before joining hands with a local…
Sri Lanka’s 2017 apparel performance has matched the recent forecast made by the Minister of industry and Commerce-even exceeding a little. “We expect that the final total apparel exports for entire 2017 would clearly exceed the exports of 2016, and expect it to be in the range of $ 4.7 billion” forecasted the Minister…
Janashakthi Insurance PLC says that its Board of Directors has authorized in principle the sale of all its shares held in its wholly owned subsidiary Janashakthi General Insurance Limited. The terms of sale are in the final stages of negotiations. The transaction would also be subject to the approval of the shareholders of Janashakthi Insurance…
Dipped Products Group posted Rs. 21.3 billion turnover for the 9 months of the financial year 2017/18, 20 percent increase from a year ago. Group Profit before Tax (PBT) for the period improved to Rs. 600 million from Rs. 241 million in the previous year. The Hand Protection segment contributed Rs. 12.1 billion to the…
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