• Waste to energy plant will convert all of Colombo Municipality’s solid garbage to generate 10 MegaWatts (MW) of power Hatton National Bank as the Lead Arranger of the Syndicated Loan together with People’s Bank, DFCC and Bank of Ceylon signed off Loan Agreements to finance the setting up of Western Power Company’s waste to…
SriLankan Airlines advises its valued customers that the departure and arrival timings of several flights at Bandaranaike International Airport(BIA) on Sunday 3rd June 2018 have been changed due to the launch of an experimental flight over the Indian Ocean by a country in the region on this day. SriLankan Airlines regrets any inconvenience caused to…
A federal appeals court on Friday rejected a bid by Raj Rajaratnam, the highest-profile hedge fund manager convicted in a sweeping U.S. crackdown on insider trading, to void much of his 2011 conviction and shorten his 11-year prison term. By a 3-0 vote, the 2nd U.S. Circuit Court of Appeals in Manhattan said the Galleon…
On June 1, 2018, the Executive Board of the International Monetary Fund (IMF) completed the fourth review of Sri Lanka’s economic performance under the program supported by a three-year Extended Arrangement under the Extended Fund Facility (EFF) arrangement. Completion of this review enables the disbursement of the equivalent of SDR 177.774 million (about US$ 252 million),…
Reuters – Sri Lankan shares ended largely unchanged near a five-month closing low on Friday as gains led by conglomerate John Keells Holdings Plc were offset by losses in large-cap shares such as Ceylon Tobacco Company , while foreign investors turned net buyers of equities. Foreign investors, who sold shares of John Keells, in the…
A container carrier that sustained damage in tropical storm ‘Sagar’ in the Gulf of Aden, nearly 2,000 nautical miles from Sri Lanka, has been turned around in just 36 hours by Colombo International Container Terminals (CICT) when it arrived in the Port of Colombo. The 369-metre, 14,424 TEU MV Theseus, operated under Ocean Alliance’s Asia-Mediterranean…
Sri Lanka’s merchandise export earnings at US dollars 1,108 million (US $ 1.1 billion) recorded the historically highest monthly value, recent External Sector performance report released by the Central Bank of Sri Lanka (CBSL) said. However, the year-on-year growth of export earnings in March 2018 moderated as the highest monthly export value for 2017 was…
Merchant Bank of Sri Lanka (MBSL) has gone live on a pair of systems from Fiserv, including the vendor’s core processing platform Signature, a recent international news report on IBS intelligence outlined. IBS Intelligence is a leading firm in global fintech, core banking systems news and analysis offering comprehensive research, market reports and consulting…
Major output increases in China, Kenya and Sri Lanka will reflect in a 2.2% annual rise in global Black Tea production in a decade, total output volume reaching 4.4 million tonnes, a report had revealed recently. Accordingly releasing a new report about global tea consumption and production, Food and Agriculture Organization’s Intergovernmental Group (IGG)…
Reuters – Sri Lankan shares fell for a fourth straight session on Thursday and posted their lowest close in five months, dragged by conglomerate John Keells Holdings Plc on foreign investor selling. Foreign investors sold shares of John Keells following reports that the MSCI Frontier Markets 100 Index, which captures large- and mid-cap representation across…
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