Reuters – Sri Lankan shares recovered from their lowest close in nearly five years hit in the previous session and ended about 1 percent higher on Wednesday as investors picked up battered stocks. The benchmark index hit a near five-year low on Tuesday on foreign selling amid a weaker rupee and government plans to curb…
Reuters – The Sri Lankan rupee hit a fresh low of 169.05 on Wednesday on importer dollar demand, while intervention by the central bank limited the fall, market sources said. Sri Lanka’s finance minister urged its people to buy local products and shun unnecessary imports in order to reduce the trade deficit and help stabilise…
Following the unprecedented depreciation of the Sri Lankan Rupee against the US Dollar, the Sri Lanka Chamber of Pharmaceutical Industry (SLCPI) issued a statement calling on the Minister of Health Hon. Dr. Rajitha Senaratne and the National Medicines Regulatory Authority (NMRA) urgently formulate a viable pricing mechanism for the industry, given that over 85% of…
The latest data from the Central Bank of Sri Lanka points out that Foreigners had gradually exited from Sri Lanka’s Government Securities (Treasury Bills and Treasury Bonds) and pulled out over Rs. 8.8 billion in a week, during the period from 12thSeptember to 19th September 2018. Earlier data showed foreigners had pulled out over Rs. 193.81…
Raises awareness on critical role they play in Sri Lanka’s economy despite increasingly difficult economic circumstances The LP Gas Distributors Association of Sri Lanka (LPGDASL), the association that looks into the interests of its 35 Distributors, over 8,000 Dealers and over 75,000 dependents of the LP Gas industry, has warned that Sri Lanka is…
The Kingdom of Saudi Arabia (KSA) now stands as the largest employer of Sri Lankans outside of Sri Lanka. More importantly, KSA commits US$ 300 Mn for Sri Lanka’s development projects. “Relations between KSA and Sri Lanka are excellent and are based on mutual respect and joint cooperation. KSA commits to projects in Sri Lanka…
The Asian Development Bank (ADB) today signed an agreement with Hatton National Bank (HNB), under ADB’s Microfinance Risk Participation and Guarantee Program, to expand local currency lending and provide guarantees of up to $20 million to the microfinance sector in Sri Lanka. The agreement was signed by ADB’s Private Sector Financial Institutions Division Senior Investment…
PETERBOROUGH, Ontario, (GLOBE NEWSWIRE) — via OTC PR WIRE – Rainmaker Worldwide (OTC:RAKR), working with its local partner, Rainmaker Water PVT Ltd., has delivered its first innovative Air-to-Water unit to Colombo, Sri Lanka, to make preparations for the production of clean bottled water to districts affected by drought as they lack access to clean drinking water….
Reuters – Sri Lankan shares fell over 1 percent on Tuesday to their lowest close in nearly five years, as foreign investor selling, a weaker rupee and government plans to curb imports hurt investor sentiment. Prime Minister Ranil Wickramasinghe said on Monday the government would take measures to impose taxes to curb imports by $500…
Agreement to be signed in Dec 2018 United States will provide a US$ 480 million grant to Sri Lanka for several development projects. This was assured to President Maithripala Sirisena by the Chief Operation Officer of US Government owned Millennium Challenge Cooperation (MCC), Brock Bierman Monday (Sep 24) when he called on the President at…
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