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…
Whilst Sri Lanka’s state banks continued to dominate the country’s banking sector accounting for almost 40% of the total assets in the banking sector in 2017, state banks accounted for 44% of the lending portfolio of the banking sector at Rs. 2.8 trillion as at end 2017, which is an increase of 16% compared to…
The first Arab and African nation ever to establish diplomatic relations with Sri Lanka says that it has been one of the key markets for Ceylon Tea and now has 22 Bilateral Agreements with Sri Lanka. Sri Lanka, readily agreeing with the claim, says that the next Egypt –Sri Lanka Joint Commission will be held…
Sri Lanka’s first ever solar panel manufacturing plant, will commence operations in Katunayake by Japanese Sri Lanka Friendship (JSF) Corporation, a Board of Investment Company that aims to manufacture solar panels, assemble inverters, and provide LED lighting solutions to serve domestic and international markets across Europe, Asia, US and the Middle East. According to officials,…
Malaysia’s Salcon Engineering Berhad, a wholly-owned subsidiary of leading water and wastewater engineering company in Asia – Salcon Berhad has won a contract worth over Rs. 2.8 billion or Malaysian Ringgit (RM) 71.27 million (US $ 17 million) to build a storm water pumping station in Sri Lanka over a period less than two years….
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