Reuters – Sri Lankan shares rose for a sixth straight session on Friday and closed at their highest in nine weeks as blue chips gained. The Colombo stock index ended 0.34 percent higher at 6,529.05, its highest close since Aug. 4. The bourse rose 1.4 percent for the week, recording its fourth straight weekly gain….
Sampath Bank PLC, a pioneer in introducing revolutionary financial solutions with a strong footing in the Sri Lankan market, announced that it had successfully concluded a loan transaction with Yangon based hotel developer Family Business Group Hotel Limited (FBGHL), Myanmar. This loan marks yet another giant stride in the steady rise of the Bank’s off-shore…
Business magnate Dhammika Perera says that Sri Lanka will be unable to achieve its target of four million tourist arrivals, without proper connectivity. The Co-Chairman of Hayleys PLC made this observation while responding to a question during a panel discussion at the Tourism Leaders’ Summit and International Research Symposium held October 04 at the BMICH…
In todays’ digital world, the public perform a variety of tasks using their smart phones, tablets, and computers. Digital commerce is becoming more and more engaging globally, as it provides the convenience to services delivery. Traditionally a person would need to go to the location where the service is to be provided or obtained. In…
The perilous state of the nation sends the sentiment index into a tailspin The new Inland Revenue Bill was passed in parliament in early September with a view to streamline the system of taxation, broaden the tax base and grow government revenue as outlined by the International Monetary Fund (IMF) when it approved a three…
LONDON, Oct 5 (Reuters) – Yield premiums on dollar bonds from smaller and riskier emerging markets over larger developing markets have shrunk to the tightest levels in a decade, said JPMorgan, which runs the most widely used emerging debt indexes. Emerging markets are among this year’s best performing assets due to hefty inflows from investors…
Sri Lanka will obtain USD 75 million (approx. Rs. 11,400 million) from International Development Association (IDA) of the World Bank to implement the Financial Sector Modernization Project. The development objective of the proposed project is “to contribute to increasing financial market efficiency and use of financial services among micro, small and medium enterprises and individuals”….
Foreign Minister Tilak Marapana during his recent visit to Luxembourg attended a business luncheon hosted by the European Investment Bank (EIB) at its headquarters in Luxembourg. The Foreign Minister, accompanied by Ambassador of Sri Lanka in Brussels Rodney Perera met with Andrew McDowell, Vice President of the EIB and senior officials of the bank. The…
Reuters – Sri Lankan shares rose for a fifth straight session on Wednesday and closed at their highest in nearly eight weeks as foreign investors bought shares in top lender Commercial Bank of Ceylon Plc. Foreign investors bought a net 1.9 billion rupees ($12.4 million) worth of shares, mainly Commercial bank, marking the biggest single-session…
Reuters – Sri Lanka has blocked a proposal by Chinese firms bidding to build the island’s biggest oil refinery to sell fuel locally, fearing a threat to domestic firms that dominate the small but growing market. The veto is the latest in a tussle over Chinese investments in Hambantota, a southern town near an important…
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