Reuters – Sri Lankan shares fell for the ninth straight session on Wednesday, posting their lowest close in three-and-a-half months, with banks such as Hatton National Bank leading the fall. The Colombo stock index fell 0.28 percent, or 18.10 points, to 6,506.03, its lowest close since April 25. It fell 1.5 percent last week in…
President Maithripala Sirisena says the policy of the present government is to bring foreign investment in a way which will not harm the country’s sovereignty. The President further said that when entering into agreements with a foreign country or a company regarding investments, a special clause will be included stating that in any way land…
The cabinet has approved the appointment of Mano Tittawella as Senior Adviser to the Minister of Finance and Media. He is expected to assist the minister in realizing the government’s economic and development agenda and drive its reform agenda. He will continue to serve as the Secretary General of the Secretariat for Coordinating Reconciliation Mechanisms…
The Sri Lanka – Australia – New Zealand Business Council (SLANZBC) of the Ceylon Chamber of Commerce recently held their 22nd Annual General Meeting (AGM) at Movenpick Hotel in Colombo, electing Mr. Gerard Victoria – Director/ General Manager of Qantas Airways Ltd as the President of the council. Australia’s High Commissioner to Sri Lanka H.E….
New machines set to become game-changer for label production and tea industry Printcare Plc, the nation’s top packaging exporter and pioneer in Sri Lanka’s tea packaging sector, recognised for its proven ability to redefine conventional printing and packaging capabilities through constant technological evolution, will break new ground again. Investing over Rs. 750 million (US $…
IFC, a member of the World Bank Group, is partnering with Sri Lanka’s Commercial Bank of Ceylon on a $100 million financing structure to help the bank increase lending for renewable energy and energy efficiency projects in the country. This is IFC’s largest financing for its own-account in the country. This 7-year financing to Commercial…
Perceived Economic Opportunity PEO: May, 2017 This brief report of the Perceived Economic Opportunity (PEO) presents the analysis of a random survey carried out using a sample of 400 men and women in May 2017 covering all districts in Sri Lanka on their expectations of economic prospects in the ensuing twelve months. Status…
First quarter fiscal 2018 revenue of $227.3 million increased 0.6% sequentially and 10.6% year-over-year. First quarter fiscal 2018 GAAP diluted EPS was $0.10. Non-GAAP diluted EPS was $0.25, up 39% year-over-year. Purchased $27.3 million of shares under previously disclosed share buyback program. Raj Rajgopal appointed President Digital Business Strategy to expand Virtusa’s addressable market in…
The Sri Lankan multinational Haycarb PLC reported revenue of Rs. 3.3 billion and profit before tax of Rs. 151 million for the first quarter of 2017/18. The profit after tax stood at Rs. 121 million. Haycarb PLC Managing Director Mr. Rajitha Kariyawasan said that while the company’s initiatives to increase throughput and the value added…
SriLankan Airlines has climbed to eighth position globally in IATA fuel efficiency ranking amongst 51 airlines in the same business model, following the implementation of a wide range of fuel efficiency and conservation measures over the last 22 months to reduce fuel burn. The 2016 ranking of airlines by the International Air Transport Association (IATA)…
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