The Colombo Stock Exchange (CSE) announces the appointment of Mr. Dilshan Wirasekara as a Director of the CSE Board with effect from 21st November 2017. Mr. Wirasekara is an investment banker and the Director/Chief Executive Officer of First Capital Holdings PLC. He is an experienced professional with a career spanning over 22 years, comprising diversified…
The first comprehensive and almost step by step guide for Lankan exporters to export under European Union’s GSP Plus scheme has been released. Welcoming the publication of the comprehensive manual on Thursday (7th Dec.), Minister of Industry and Commerce, Rishad Bathiudeen said the manual is another proof of the unity government’s transparent approach to international…
Merchandise exports grow 10.3% (Jan-Oct) Monthly exports top US$ 1 Billion 3 times this year FDI grows to US$ 800 Mn (Jan-Sept), exceeds 2016 total As Sri Lanka’s pro-growth reforms gather pace, amidst an improving external economic environment, exports and foreign direct investment (FDI) have shown substantial increases this year compared to last year. According…
Reuters – Sri Lankan shares closed steady on Thursday, after three straight losing sessions, as gains led by financials were offset by losses in mid-cap stocks. The Colombo Stock Index firmed 0.03 percent at 6,382.95, hovering around a near three-month closing low hit in the previous session. Sampath Bank and Commercial Bank of Ceylon gained…
IMF Executive Board completed the third review of Sri Lanka’s Extended Fund Facility arrangement, which enables the disbursement of about US$ 251.4 million. While the authorities met fiscal targets and legislated the income tax reform, further consolidation is necessary, given Sri Lanka’s high debt burden and large gross financing needs. Further buildup of international reserves…
Jetwing Symphony Limited (JSL) announced the opening of its Initial Public Offering (IPO) on December 14, 2017 in a bid to raise between Rs. 753 million to Rs. 904 million. JSL intends to offer 50, 218, 856 ordinary voting shares to the public (a 10 percentage stake) at a price range of Rs. 15.00, Rs….
Wins three other awards including Gold in Banking sector for 2016 Annual Report The Commercial Bank of Ceylon PLC stamped its supremacy in financial disclosure at the CA Sri Lanka Annual Report Awards this week, winning the coveted overall award for the best annual report by a Sri Lankan company in 2016 and three other…
The role of the Port of Colombo in facilitating imports and exports and supporting trade with India and other subcontinent countries was expounded upon by Colombo International Container Terminals (CICT) in a recent presentation to the 2017 Asian Logistics and Maritime Conference (ALMC). The presentation was made by Mr Tissa Wickramasinghe, Chief Business Development Officer…
Reuters – Sri Lankan shares extended falls into a third session on Wednesday and closed at their lowest in nearly three months, dragged down by healthcare and diversified conglomerates. The Colombo Stock Index ended down 0.15 percent at 6,380.91, its lowest close since Sept. 13. It fell 0.03 percent last week, recording its fourth straight…
Sri Lanka’s success in developing basic infrastructure such as a road network density of 98% is highest in highest in South Asia according to the Global Competitiveness Index in FY17. Sri Lanka is ranked as 73rd out of 138 countries for infrastructure development making Sri Lanka an attractive destination for private investment. The International Finance…
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