Sri Lanka will unveil one of the biggest initiatives in its international trade history when the Department of Commerce launches the World Bank supported Sri Lanka Trade Information Portal (SLTIP) on 20 July in Colombo. “Our business community and other stakeholders will be provided with a useful tool to find the information necessary to facilitate…
Sri Lanka’s one of the main government owned healthcare institutions, Sri Jayewardenepura General Hospital (SJGH) has recorded a Rs. 121 million after tax loss for the year 2017. Highlighting on the financial performance of the hospital, Department of Public Enterprises (PED) in the latest annual review points out that Budgetary Support has been given to…
Sri Lanka’s Kaluganga Development Project had received an additional loan of Saudi Arabia Riyals (SAR) 60 million or nearly US $ 16 million from the Saudi Fund for Development, a recent communique from the Ministry of Finance and Mass Media said. Kaluganga Reservoir has a capacity of 265 million cubic meters (MCM) of water and…
Just after a decade since Nano came to market as the Cheapest Car in India, a recent report in Hindustan Times reveals that the Nano’s death was confirmed by production numbers, since Tata Motors Ltd. produced only 1 unit in June 2018, down from 275 in the same month last year. “Exports were zero, versus…
Reuters – Sri Lankan shares slipped on Wednesday from their highest close in nearly three weeks recorded in the previous session, as investors sold diversified and telecommunication shares. Foreign investors sold net equities worth 34.1 million rupees on Wednesday, extending the year-to-date net foreign outflow to 2.7 billion rupees. The Colombo stock index ended 0.31…
Fitch Ratings Lanka has downgraded Melsta Regal Finance Ltd.’s (MRF) National Long-Term Rating to ‘B(lka)’ from ‘A+(lka)’ and removed the Rating Watch Evolving (RWE). A Stable Outlook has been assigned. The agency has also affirmed the ratings of the following nine finance companies: – Central Finance Company PLC (CF) – LB Finance PLC (LB) –…
Swarnamahal Financial Services PLC in a disclosure to Colombo Stock Exchange (CSE) said that trading of its’ shares had been suspended from 1 July 2018 because of non-compliance with the sections 7.10.2 (a), 7.10.5 (a), 7.10.6 (a) and 9.2.2 of stock exchange listing rules. Statement further added the company was in the Watch List from…
Lanka Nippon BizTech Institute (LNBTI), Sri Lanka’s only Japanese-based technology university will be hosting Prof. Inamura Kobo, director international cooperation at the Ministry Posts and Telecommunications, Tokyo and visiting professor international programmes at the National Suitama University, for a series of guest lectures. Prof. Kobo will use the “Kokutai No Hongi” method which translates to…
One of the world’s leading hotel companies, InterContinental Hotels Group (IHG) has signed a management contract with Pearl Grand Tower Hotel to bring its flagship InterContinental brand to Colombo, Sri Lanka again. Due to open in 2019, InterContinental Colombo will feature 307 rooms including 47 suites and will be spread across 480,000 sq. ft., with…
Reuters – Sri Lankan shares climbed to their highest close in nearly three weeks on Tuesday, with foreign trading accounting for about 40 percent of the session’s turnover. The Colombo stock index ended 0.8 percent firmer at 6,179.88, its highest close since June 29. “Heavyweights helped the market recover sharply today. We have seen value…
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