IFC, a member of the World Bank Group, is partnering with leading apparel company MAS Holdings to assess areas for resource efficiency across three of its factories in Sri Lanka. This will help the company save costs, prevent waste, and reduce greenhouse gas emissions. Under this project, IFC will assess and recommend measures that can…
Reuters – The Sri Lankan rupee slipped to a fresh all-time low of 157.40 per dollar on Wednesday for a third straight session, pressured by persistent importer dollar demand, dealers said. Two dealers confirmed that the rupee was traded at 157.40 on the dollar – beyond the previous record-low of 157.30 hit on Tuesday. “Unlike…
The Central Bank of Sri Lanka (CBSL) has observed media reports erroneously highlighting lack of funds to pay-off Treasury bonds before their date of maturity. CBSL notes that there is no accuracy in above media reports and highlights the unblemished debt service payment record of the government in servicing both domestic and foreign debt. The payment of interest…
The recent Cabinet Announcements said that Sri Lanka’s government had entered into a long term contract with M/s Swiss Singapore Overseas Enterprise Pte Ltd to buy Murban Crude Oil to the tune of 7 million Barrels for the 8 months effective from 1st April 2018 to requirement of refining at Sapugaskanda Oil Refinery owned by Ceylon…
Reuters – Sri Lankan share index ended marginally lower in thin trading on Tuesday as continued political uncertainty dampened sentiment, stockbrokers said. The market has been awaiting signs of political stability after President Maithripala Sirisena suspended parliament until May 8. A cabinet reshuffle was expected on Monday, but government sources said it had been delayed….
The Kandy Industrial Park has emerged as a major economic center in the Central Province and has contributed US$ 93 million worth of direct exports earnings in 2017. This Board of Investment of Sri Lanka’s zone has also contributed an additional US$ 3 million in indirect exports. Currently 26 enterprises are located at the Industrial…
Reuters – The Sri Lankan rupee slipped to an all-time low of 157.30 per dollar on Tuesday, pressured by importer dollar demand, dealers said. Three dealers confirmed that the rupee was traded at 157.30 on the dollar. It surpassed the previous all-time low of 156.90 hit on Monday. “Still we don’t see exporters in the…
Colombo Stock Exchange (CSE) in a notice to clients of Stock Broker firms said that it had prohibited carrying out trading activities of 4 firms due to non-compliance with rule 5.1.1. and 5.2.1 of the CSE Stock Broker rules. Accordingly renown Investment Banker and former CSE Director (2013) Asanga Seneviratne owned Nation Lanka Equities, former…
The South East Asian Gateway Province to mainland China’s ambitious One Belt-One Road (OBOR) initiative voiced its impatience to witness the historic Sri Lanka – China FTA’s take-off -so that bigger bilateral trade would become a reality soon. “Currently total bilateral trade between Yunnan and Sri Lanka is only US $ 18 Mn. The Sri…
A group of Investors from several companies of Pakistan has arrived to Island to find out about the new investment opportunities where they met with President Maithripala Sirisena at the President’s official residence, Monday (23). The representatives from leading companies in Pakistan informed President Sirisena that they are ready for new investments in the fields…
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