Headline Inflation, as measured by the change in the National Consumer Price Index (NCPI, 2013=100), which is compiled by the Department of Census and Statistics (DCS), increased to 3.4 per cent in July 2018 from 2.5 per cent in June 2018, on year-on-year basis, mainly driven by low base that prevailed in the previous year as well as…
After his business empire’s brand switch from Distilleries Company to Melstacorp and share ownership restructuring carried out in 2 years Sri Lankan Liquor Baron and Billionaire Harry Jayawardena controlled conglomerate Melstacorp alone will earn a dividend income of over Rs. 2.8 billion from Distilleries Company of Sri Lanka (DCSL) for the Financial Year 2017/2018. DCSL…
In the first session at the Sri Lanka Economic Summit 2018, participants will be able to listen to three economic perspectives from the Government of Sri Lanka, IMF and Standard Chartered Bank. Hon. Eran Wickramaratne, State Minister of Finance and Mass Media, Dr. Eteri Kvintradze, Resident Representative in Colombo of the International Monetary Fund and…
Another company controlled by Billionaire Harry Jayawardena, Sri Lanka’s Lanka Milk Foods (CWE) in a disclosure to Colombo Stock Exchange (CSE) recently informed that company had incorporated a Private Limited Company on 23rd July 2018 named United Diaries Lanka (Pvt) Ltd at Ambewela in Nuwara Eliya District. The disclosure said that the scope of this…
Ride at introductory fares of less than LKR 99 up to 5 km for all short distance travel needs No haggling & multiple payment modes; get a TUK at the tap of a button Uber, the world’s largest on-demand ride-sharing company, today announced the launch of its UberTUK service in Colombo. With this service,…
Moody’s Investors Service says that the credit profile of the Government of Sri Lanka (B1 negative) is supported by the authorities’ progress in implementing reforms, which entail fiscal consolidation and a build-up of foreign exchange reserves. Sri Lanka also benefits from moderate per capita income levels and stronger institutions than those of many similarly rated…
Reuters – Sri Lankan shares extended losses into an eighth session on Tuesday and posted their lowest close in nearly 17 months, as foreign investors continued to sell, while a report about new tax proposals weighed on the market as well. Foreign investors sold shares worth a net 48.1 million rupees ($300,000), extending the foreign…
Reuters – The Sri Lankan rupee touched a record low of 160.65 per dollar on Tuesday as importer dollar demand and foreign outflows from government securities weighed on the currency, dealers said. The rupee hit 160.65 earlier in the trade, before closing at 160.60/70, compared with Monday’s close of 160.50/70. It surpassed a record low…
Once a lost opportunity when country’s largest insurer ‘Sri Lanka Insurance Corporation’ ownership was reversed, which resulted in his control and ownership being cut by a larger stake in Sri Lanka’s Apollo Hospitals (Now Lanka Hospitals); a recent Colombo Bourse disclosure revealed Sri Lankan billionaire tycoon Harry Jayawardena is gearing up again to taste the…
Ceylinco Life has more than doubled pre and post-tax profits at the end of the second quarter of 2018, sustaining its growth momentum with consistent operational performance. The life insurance market leader has reported profit before tax of Rs 3.338 billion for the six months ending 30th June 2018, an increase of Rs 1.71…
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