Takes over the reins as new president of the Sri Lanka Chamber of Pharmaceutical Industry (SLCPI) for 2017/18 at SLCPI’s 56th Annual General Meeting Newly-elected President of the Sri Lanka Chamber of Pharmaceutical Industry (SLCPI) Shyam Sathasivam, Managing Director of Sunshine Healthcare Lanka (Pvt) Ltd, urged the Government to consult and collaborate with all key…
Fitch Ratings Lanka has affirmed Bimputh Finance PLC’s National Long-Term Rating at ‘BB(lka)’. The Outlook is Stable. KEY RATING DRIVERS Bimputh’s rating reflects its small franchise compared with higher-rated peers and high-risk appetite stemming from its microfinance-dominated loan portfolio, which Fitch sees as risky due to the segment’s greater susceptibility to economic cycles. Fitch’s assessment…
Reuters – Sri Lankan shares rose on Friday on bargain-hunting following five consecutive sessions of falls and after a top official said the government would address concerns about a possible tax on trading stocks. The Colombo stock index rose 0.44 percent, or 28.16 points, to 6,436.28, but shed 0.8 percent for the week. On Thursday,…
The Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) recently renewed its Memorandum of Understanding with ISACA Sri Lanka Chapter in an effort to enhance ICT skills among Chartered Accountants. The agreement paves way for both CA Sri Lanka and ICT to jointly organise seminars, workshops as well as evening presentations to…
Panasian Power, announced the successful acquisition of Lower Kotmale Oya Power Two (Pvt) Ltd. With this acquisition Panasian will commence construction on two mini hydropower plants (MHP) in the Nuwara Eliya district in early 2018 with an estimated investment of Rs 400 million. Upon completion these MHPs are expected to yield a combined output of…
Reuters – Sri Lanka’s junior finance minister said on Thursday concerns about a possible tax on share trading will be addressed before a proposed revenue bill is passed in the parliament. The island nation’s main share index has shed 3.9 percent since July 27 and declined in 14 out of the past 15 sessions due…
Citi’s commodities research team has tempered its outlook for oil prices over the next five years, but it sees room for price shocks if oil supply disruptions increase dramatically or fall off significantly in the coming years. The bank had projected in February that U.S. crude prices would likely trade mostly in a range of…
Reuters – Sri Lankan shares fell for a fifth session on Thursday, posting their lowest close in four months, as local investor sentiment was subdued following a string of disappointing June-quarter corporate results. However, the decline was limited as foreign investors bought into equities. The Colombo stock index fell 0.14 percent, or 9.29 points, to…
The Sri Lanka – Malaysia Business Council of the Ceylon Chamber of Commerce in association with the Malaysia External Trade Development Corporation (MATRADE) is organizing a Business Meeting with a trade promotion delegation from Malaysia to Sri Lanka on 25th August 2017 at the Hilton Colombo Residences. The Delegates consist of Plywood exporters from the…
Reuters – Sri Lankan shares fell for a fourth consecutive session on Wednesday, posting their lowest close in four months, as local investor sentiment remained muted following a string of disappointing June-quarter corporate results. However, the decline was limited as foreign investors bought into equities. The Colombo stock index fell 0.36 percent, or 23.50 points,…
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