Reuters – Sri Lankan shares fell on Tuesday to more than a three-week low, dragged down by shares of beverage companies such as Distilleries Company of Sri Lanka Plc , while investors continued to await fresh cues from political and economic fronts. The Colombo stock index ended 0.33 percent weaker at 6,485.57, its lowest since…
(Xinhua) – Nearly 100,000 Chinese tourists visited Sri Lanka till April this year, making China among the top three countries generating the most number of tourists to the island country, statistics from the Tourism Ministry showed here Tuesday. In April, 17,462 Chinese tourists arrived in Sri Lanka, making China the third largest market. India and…
Says now well-positioned for strong operational growth in 2018-19 Teejay Lanka PLC has reported profit before tax of Rs 501.7 million at Group level for the final quarter of 2017-18, to end a challenging year with a noteworthy resurgence that augurs well for Sri Lanka’s only multinational textile manufacturer. The Weft knit fabric…
FRANKFURT (Reuters) – Alibaba Group (BABA.N) has bought the entire share capital of Rocket Internet’s (RKET.DE) South Asian ecommerce platform Daraz Group, Rocket Internet said on Tuesday. It did not disclose financial details. Daraz, founded in Pakistan in 2012, operates online marketplaces in Pakistan, Bangladesh, Myanmar, Sri Lanka and Nepal. The unit will continue to…
SELMO Pvt. Ltd from Sri Lanka signed a financing agreement with the Saudi Export program (SEP) to import raw material related products from Saudi Arabia to Sri Lanka on long term credit basis. This marks the first agreement signed by a Sri Lankan entity with the SEP to obtain the financing line facility, following the…
Panasian Power PLC, one of Sri Lanka’s leading green energy solutions providers, recently completed three rooftop solar power plants with a combined capacity of 1.2MW. The plants are located in Kolonna, Borelasgamuwa and Kohuwala with capacities of 300kW, 400kW and 500kW, respectively. This takes Panasian Power a step closer towards its goal of generating 12MW…
Ranjith Pandithage bestowed with Order of Merit of the Federal Republic of Germany The Order of Merit of the Federal Republic of Germany is a very rare and the most prestigious recognition one can receive from the German Government. Ranjith Pandithage (Chairman and Managing Director of Diesel & Motor Engineering PLC) was recently bestowed with…
Reuters – Sri Lanka will sign agreements with French oil and gas major Total and a subsidiary of U.S. firm Schlumberger for a seismic study off its east coast to evaluate any prospective oil resources, a top official said on Friday. Vajira Dassanayake, the director general at Petroleum Resources Development Secretariat (PRDS), said a first…
Bloomberg – Crude futures in New York topped $70 a barrel for the first time since November 2014 as traders brace for a re-imposition of U.S. sanctions on Iran that risks disrupting exports from OPEC’s third-largest producer. Oil has rallied 16 percent so far this year as OPEC and allied producers crimp a global glut…
A group of representatives, including Dr. Hiroto Izumi, Special Advisor to the Prime Minister of Japan, Shinzo Abey met with President Maithripala Sirisena at the President’s Official Residence, yesterday (04). These representatives visited the country to investigate and study regarding the future development activities to be launched in Sri Lanka, according to the outcomes of…
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