Latest Cabinet Decisions outlined that the proposal made by Patali Champika Ranawaka, the Minister of Megapolis & Western Development to award the contract for the construction of a small urban luxury hotel with 48 rooms within the premises in which Waters Edge Hotel – Battaramulla is located to M/s Sathuta Builders (Pvt.) Ltd., as recommended…
Reuters – The Sri Lankan rupee ended weaker on Friday due to dollar demand as importers purchased the greenback after the local currency’s recent gains, sources said; while stocks slipped from a 3-1/2-week high hit in the previous session. ** The currency dipped 0.1 percent to end at 174.90/175.00 to the dollar, compared with Thursday’s…
Sri Lanka’s economic growth is projected to pick up to 3.6% in 2019 and further to 3.8% in 2020 from 3.2% in 2018, a new Asian Development Bank (ADB) report says. ADB’s flagship annual economic publication, Asian Development Outlook (ADO) 2019, forecasts a gradual recovery supported by a turnaround in the construction sector and continued growth…
Latest Cabinet decisions outlined that the Cabinet of Ministers has granted its approval previously to rehabilitate the railway track from Maho to Omanthe at a length of 128 km with the assistance of the Indian Line of Credit so as to bear higher axle loads and to operate in maximum speed of 100km/hr, in view…
Reuters – The Sri Lankan rupee ended 0.5 percent weaker on Thursday due to importer dollar demand, but greenback inflows from inward remittances ahead of the traditional new year capped further decline, while stocks jumped 1 percent, sources said. ** The currency stood at 174.70/85 to the dollar, compared with Wednesday’s close of 174.60/80. **…
Sampath Bank successfully convened its 33rd Annual General Meeting at the Kingsbury Hotel in Colombo recently at which the shareholders approved the dividend proposed by the Directors for the year ended 31st December 2018. Accordingly, the Bank announced that it will pay a final dividend of Rs 16.25 per share, consisting of a cash dividend…
We write with reference to the article titled: “Lack of proper nutrition, housing and education plague Sri Lanka’s tea plantation community” by Kathy Melvin, Director of Mission Communications at the Presbyterian Mission Agency, Presbyterian Church, USA which appeared in the Daily Financial Times on 28 February 2018. The Planters’ Association of Ceylon notes with…
IFC, a member of the World Bank Group, brought together CEOs of leading companies to mark the anniversary of SheWorks partnership in Sri Lanka. The partnership, supported by the Australian government, works with 18 leading employers that have pledged to implement measures proven to enhance employment opportunities for women. This dynamic collaboration has led…
Professor Malik Ranasinghe, who was the Deputy Chairman of the Bank since August 2016, will take on his new role from the 2nd April 2019. His rich experience and deep understanding of the Bank’s core values will be invaluable in achieving its objectives. Professor Ranasinghe is a former Vice-Chancellor, University of Moratuwa, Member of…
Reuters – The Sri Lankan rupee snapped a six-session winning streak to end lower on Wednesday due to importer dollar demand, but greenback inflows from inward remittances ahead of the traditional new year capped further decline, sources said. ** The currency edged down at 174.60/80 to the dollar, compared with Tuesday’s close of 174.45/60. **…
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