Reuters – Sri Lankan shares rose on Wednesday after two straight sessions of decline, helped by gains in Ceylon Tobacco Co on foreign investor buying. But turnover was low due to lower participation of local retail and institutional investors, dealers said. The Colombo Stock index ended 0.35 percent firmer at 6,440.77. Shares in Ceylon Tobacco…
Visiting Indonesian President Joko Widodo and President Maithripala Sirisena both acknowledged the need to harness the untapped potential, which exists in the bilateral economic sphere and emphasized the need for the early establishment of the Joint Working Group on Trade and Investment between the two countries. The joint press statement between Sri Lanka and Indonesia…
Lanka Bell, Sri Lanka’s iconic telecom operator has achieved a significant milestone of reaching 50,000+ households and businesses with its fourth-generation LTE internet connectivity; Bell4G. Within a short period of time Bell4G has raised the bar from serving 15,000 to 50,000+ customers, swiftly gaining ground as the preferred choice for 4G technology users islandwide. With…
Aaron Russell-Davison, a veteran Banker with over 20 years of experience, has been appointed to the Board of Directors of Amana Bank in the capacity of an Independent Non-Executive Director. Russell-Davison’s experience across banking and financial institutions includes capital markets, bond and loan syndication, sales, trading, portfolio management and brokerage, amongst other senior banking positions…
Imtiaz Iqbal, a well versed and experienced banker, has joined Amãna Bank as its Vice President Operations. Prior to joining Amãna Bank, Imtiaz had established a well-rounded banking career at HSBC Sri Lanka holding various posts since 1998. He culminated his illustrative career at HSBC as the Chief Operating Officer – Retail Banking and Wealth…
Hemas Holdings PLC’s (AA-(lka)/Stable) acquisition of a controlling stake in Sri Lanka’s leading school and office stationery manufacturer, Atlas Axillia (Private) Limited, will bolster Hemas’ defensive operating cash flows, Fitch Ratings says. We believe the acquisition has no immediate impact on Hemas’ rating because we expect the transaction to be largely funded by cash at…
As Sri Lanka celebrated the 150th anniversary of Ceylon Tea in 2017, Emirates marked its 25 year partnership with Dilmah, the country’s premier tea brand. A collaboration that began in 1992 has resulted in a select range of 10 types of tea being produced exclusively for Emirates passengers on flights worldwide, catering to a wide…
The results of the economic reforms adopted by the government would start to show from 2018 and Sri Lanka could look at a 5% economic growth this year said, Economist, South Asia, Standard Chartered Saurav Anand. Speaking at an interactive media roundtable following the bank’s 2018 year a head briefing and the publication of Our…
Physical work of the proposed light railway project from Kaduwela to Colombo Fort would commence this year said Minister of Megalopolis and Western Development Champika Ranwaka. Speaking at the launch of Construction EXPO 2018 he said that in addition the Arukkal project in Puttalum, the solution to Colombo’s garbage disposal too would begin this year….
Singaporean Prime Minister Lee Hsiang Loong said that his government would take steps to expand economic, trade and investment cooperation between Sri Lanka and Singapore. The Singaporean Prime Minister on a tour to Sri Lanka said this during his meeting with the President Maithripala Sirisena (23) at the Presidential Secretariat. The Prime Minister and the…
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