Reuters – The Sri Lankan rupee closed steady on Wednesday in dull trade, as importer dollar demand offset selling of the U.S. currency by exporters, traders said. The rupee closed flat for a second straight session at 159.25/35 per dollar, after declining for six consecutive sessions. It has declined 3.9 percent so far this year….
First Capital Research the research arm of the country’s one of the leading investment banks in their latest Mid-Year Economic outlook points out that “A further defeat for the present Government may worsen the prevailing political uncertainty” adding that however, an improvement in the voter base may provide some respite. Report highlights that the political uncertainty…
Recent Cabinet Decisions outlined that the proposal made by Hon. Ranjith Siyambalapitiya, the Minister of Power and Renewable Energy, to award the procurement for purchasing 2,500 km of Aerial Bundled Conductors used by the Ceylon Electricity Board (CEB) for distribution purposes, to M/s ACL Cables PLC for a sum of Rs.1,456.2 million (Rs. 1.45 billion),…
Stepping in and mediating on time, the Sri Lanka has successfully turned around the issue of spoilt canned fish imports muddle following in-depth and multi-level talks with all the key stakeholders in Colombo on 10 July. “We invite a canned fish supplier delegation from China to Sri Lanka for discussions” said the Minister of Industry…
Reuters – Sri Lankan shares closed steady on Tuesday, while the turnover slumped to a near three-month low as many investors remained on the sidelines due to a lack of bullish news amid concerns over political uncertainty, stockbrokers said. Turnover stood at 142.7 million rupees ($896,357), its lowest since April 16, and less than a…
One of Sri Lanka’s leading privately owned Licensed Commercial Banks – Hatton National Bank had tied up with Simpleworks Business Solutions Pte Ltd (SimpleWorks) of Singapore to automate bank’s support center operations with a view of delivering a superior customer service. Accordingly, HNB launched its fully integrated Omni Channel Contact Centre – recently with an…
Reuters – The Sri Lankan rupee closed steady on Tuesday after six straight sessions of decline, as importer dollar demand offset mild exporter dollar sales, traders said. The rupee closed flat at 159.25/35 per dollar. It has declined 3.8 percent so far this year. “We think the rupee will hold at this level for the…
Bloomberg – Samsung Electronics Co. opened the world’s largest mobile phone factory in India, in a win for Prime Minister Narendra Modi’s flagship program to lure investors to manufacture in the South Asian nation. The factory was inaugurated by Modi and South Korean President Moon Jae-in during their visit to the facility in located at the…
The Monetary Board of the Central Bank of Sri Lanka (CBSL), having considered the requests of the depositors, instructed SFSP to pay urgently 10 percent of deposit liabilities of SFSP commencing from 10.07.2018. The details of the payment plan will be informed to depositors by SFSP shortly. The CBSL, while thanking all relevant parties for…
Fitch Rating has affirmed Sri Lanka Insurance Corporation Limited’s (SLIC) Insurer Financial Strength Rating (IFS) at ‘B+’ with a Stable Outlook. Fitch Ratings Lanka has also affirmed SLIC’s National Insurer Financial Strength Rating and National Long-Term Rating at ‘AA+(lka)’ with a Stable Outlook. KEY RATING DRIVERS The affirmation reflects the company’s very strong domestic business…
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