Reuters – Sri Lankan shares hit a one-week closing low on Thursday, as investors waited for clarity on new taxes in the national budget and on key legislations, although selling by foreign investors in Commercial Bank of Ceylon helped boost turnover. The Colombo stock index ended 0.13 percent weaker at 6,456.11, its lowest close since…
The Ministry of Finance and Mass Media yesterday (22nd Nov.) entered into two Loan Agreements with Asian Development Bank (ADB) to borrow USD 150 million for the development of 3400 km of rural roadways and USD 200 million for the implementation of 100 MW Wind Power Generation Project in Mannar Island. According to the recent…
The China Products Exhibition was inaugurated by chief guest Sonali Wijeratne (Director General of Commerce, Department of Commerce, Sri Lanka) along with guest of honour Yang Sau Yuan (Economic Counsellor of China from the Embassy of China) at SLECC yesterday. The exhibition will run till 24th November. Sonali Wijeratne mentioned that the China Products Exhibition…
The Central Bank of Sri Lanka has decided to cancel the finance license of Central Investments & Finance PLC (CIFL). CBSL’s Department of Supervision of Non-Bank Financial Institutions has written to the Chief Executive Officer of the Colombo Stock Exchange (CSE) notifying of the action taken against Central Investment and Finance PLC under provision of…
SAN FRANCISCO (AP) — Uber is coming clean about its cover-up of a year-old hacking attack that stole personal information about more than 57 million of the beleaguered ride-hailing service’s customers and drivers. So far, there’s no evidence that the data taken has been misused, according to a Tuesday blog post by Uber’s recently hired…
Commissions 40 electric-powered gantry cranes to lead port’s efforts to minimise environmental impact Colombo International Container Terminals (CICT) has completed a project to convert the company’s diesel-operated rubber-tyred gantry cranes to electric-powered rubber-tyred gantry cranes or E-RTGs, making a major contribution to efforts by the Port of Colombo to go Green. Costing more…
Reuters – Sri Lankan shares ended slightly higher on Wednesday in dull trade, as investors stayed on the sidelines awaiting clarifications on new taxes in the national budget and key legislations unveiled earlier this month, analysts said. The Colombo stock index ended 0.09 percent firmer at 6,464.44. It lost 1 percent last week. Large caps…
Vice President of the Asian Development Bank (ADB), Wencai Zhang said that ADB would extend fullest support to the economic development plans initiated by the government of President Maithripala Sirisena. ADB Vice President called on President Sirisena at the Presidential Secretariat today (22nd November) to discuss the Country Partnership Strategy for development assistance for the…
In what continues to be a promising year for foreign investor involvement in the stock market, 2017 has recorded an all-time high in foreign purchases during a year, with Rs. 105.1 billion (year-to-date) in foreign purchases this year passing the record of Rs. 104.7 billion set in 2014. The development follows signs of renewed foreign…
Speaking on behalf of the Exporters Association of Sri Lanka (EASL) Mr. Harin de Silva (Chairman EASL) welcomes the 2018 Budget under Vision 2025 and its proposals to revamp Sri Lanka’s trade policies to enable an export-driven economy. Apart from being more realistic, the proposals are expected to achieve a 5% growth rate while maintaining inflation at 6% and reducing the budget deficit to…
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