Bloomberg – Sri Lanka’s sovereign dollar bonds and the rupee plunged to record lows, while the nation’s stocks surged the most in five years, as the political turmoil sent equity and bonds investors to opposite ends of the risk spectrum. Moody’s Investors Service said the crisis would inflict lasting damage to investor confidence. Stock bulls, including…
The Bank closed the 9 months ending 30th September 2018 with a post-tax profit of Rs. 3,138 Million, a moderate growth of 4.5 % over the corresponding period last year in the backdrop of challenging market conditions. The Bank increased its Net Interest Income and recorded a commendable growth of 14.4% to reach Rs….
Colombo Stock Exchange (CSE) both indices All Share Index (ASPI) and S&P SL20 rose by 2% today as at 1:00 p.m. during the trading hours. John Keells Holdings (JKH) contributed highest turnover so far with over Rs. 2.7 billion with over 19 million shares changing hands.
Leading energy company and a subsidiary of Lanka Ventures, the LVL Energy Fund PLC is set to expand its alternative energy footprint with the development of seven new solar power projects. The plants will be set up in partnership with First Energy SL (Pvt) Ltd, in strategic locations across the island and will have a…
Reuters – ** The Sri Lankan rupee touched a record low on Friday as banks and importers purchased U.S. dollar, while stocks climbed 1.1 percent to a two-week closing high but foreign investors’ exit from the island nation’s risky assets weighed on sentiment. ** The rupee dropped to an all-time low of 173.08 per dollar…
RIU – Sri Lanka is one of the first middle-income countries to adopt a strong tobacco control policy. The country ratified the Framework Convention on Tobacco Control (FCTC) and made early progress with a ban on enclosed public place smoking, graphic health warnings, ban on sales to persons under 21 and a ban on sponsorship,…
The Government has mobilized Grant and Concessional Loan assistance amounting to USD 50 million from the ADB to improve the efficiency, equity and responsiveness of the Primary Health Care system in Sri Lanka in line with the National Strategic Framework for Development of Health Services (2016 – 2025). The proposed Health System Enhancement Project will…
European Rubber Journal and RubberNews.com in latest report said that world’s fourth largest tyre manufacturer – Continental A.G. of Germany had taken the full ownership of Sri Lankan solid tire maker Eu-Retec (Pvt) Ltd., buying the 49% stake it didn’t own from the company’s Managing Director. The report said that the acquisition is part of…
Press and Journal in a recent report highlighted that plans have been submitted to honour a North-East man of Scotland who helped shape the world’s drinking habits. The report said that it is a statue of James Taylor, who is called to be the father of the Ceylon or Sri Lanka’s Tea industry. Accordingly Auchenblae…
Sri Lanka Customs (SLC) contributes 55% to State Revenue Sri Lanka Customs (SLC) the country’s largest revenue earning state body has been able to secure a tax revenue of Rs. 918.59 billion, contributing 55% of the total government tax revenue of Rs.1, 670.17 billion, the lately released annual report for 2017 highlights. Accordingly Director General…
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