Bloomberg – Veteran investor Mark Mobius, the bald-headed market guru who became one of the most recognized authorities on money-making opportunities in Africa, Asia, Eastern Europe and Latin America, plans to retire from Franklin Templeton Investments after three decades at the firm. The company announced his retirement, effective Jan. 31. After accepting a job offer from…
Reuters – Sri Lankan shares rose on Friday, closing the first week of the new year on a firm note, on the back of heavy foreign buying in blue chips. The Colombo Stock Index ended 0.85 percent firmer at 6,514.73, its highest close since Nov. 11. It rose 2.3 percent this week, in its second…
The government has taken steps to promote the export of agricultural products by enhancing Trincomalee Port, the Secretary to the Ministry of Mahaweli Development and Environment, Anura Dissanayake disclosed today. Describing development activities related to Moragahakanda multi-purpose irrigation project, Mr. Dissanayake said that Polonnaruwa – Trincomalee highway is being developed to reach the destinations within…
Overseas Companies are acting and holding themselves out as insurance brokers, when they are clearly not authorized to do so. These companies are not Registered Insurance and Re-Insurance Brokers in Sri Lanka, as required by the Regulation of Insurance Industry Act No. 43 of 2000, industry sources said. The said companies are not located in Sri Lanka nor do they have the required license from…
With effect from the 1st of January 2018, the United States’ Generalized System of Preferences (GSP) program was discontinued for 120 countries across the world. Sri Lanka is one of them. This decision while not being country-specific, is one stemming from the US Congress simply not re-authorizing the program before adjourning for the year 2017….
State owned Lanka Sathosa shopping chain has dramatically ascended to become the largest retail player in Sri Lanka, beating all other local supermarket brands unmistakably. “Lanka Sathosa now stands as Sri Lanka’s largest retail shopping chain” declared an upbeat Minister of Industry and Commerce Rishad Bathiudeen on 5 January at Welisara. Minister Bathiudeen, joined by…
Jetwing Symphony Limited rang the opening bell to commence trading and celebrate the listing of its shares as the first listing at the Colombo Stock Exchange (CSE) for 2018. The listing follows a successful Initial Public Offering by the company in December 2017, through which it raised Rs. 753 million through a 50.22 million share…
SAN FRANCISCO (Reuters) – Apple Inc will release a patch for the Safari web browser on its iPhones, iPads and Macs within days, it said on Thursday, after major chipmakers disclosed flaws that leave nearly every modern computing device vulnerable to hackers. Browser makers Google, Microsoft Corp and Mozilla Corp’s Firefox all confirmed to Reuters…
Reuters – Sri Lankan shares ended slightly weaker on Thursday amid heavy buying by foreign investors, but traders said sentiment was likely to remain positive after the central bank kept key policy rates unchanged last week. The Colombo Stock Index ended 0.06 percent weaker at 6,459.66, snapping an eight-session win streak. Shares in Ceylon Tobacco…
Hyundai Lanka (Pvt) Ltd, the sole authorised importer and distributor of Hyundai vehicles in Sri Lanka, unveiled the all new high tech IONIQ Hybrid & the SUV compact leader Creta to the Sri Lankan market recently. Whilst the highly stylised IONIQ Hybrid comes with a series of groundbreaking features along with advanced safety measures, to…
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