Reuters – Sri Lankan shares closed firmer on Wednesday as investors bought beaten-down blue chips, while many market participants remained on the sidelines due to a lack of bullish news amid concerns over political uncertainty, stockbrokers said. The Colombo stock index ended 0.25 percent higher at 6,092.65. “Today the market is up with some select…
Sri Lanka’s two largest government owned banks – the Bank of Ceylon (BOC) and People’s Bank will extend financial assistance to country’s national carrier Sri Lankan Airlines with whopping Rs. 13.5 billion, by issuing the Letters of Comfort soon, reports outline. Reports highlight that Public Enterprise Development Minister Lakshman Kiriella had recently submitted the Cabinet…
Reuters – The Sri Lankan rupee closed steady on Wednesday in dull trade, as importer dollar demand offset selling of the U.S. currency by exporters, traders said. The rupee closed flat for a second straight session at 159.25/35 per dollar, after declining for six consecutive sessions. It has declined 3.9 percent so far this year….
First Capital Research the research arm of the country’s one of the leading investment banks in their latest Mid-Year Economic outlook points out that “A further defeat for the present Government may worsen the prevailing political uncertainty” adding that however, an improvement in the voter base may provide some respite. Report highlights that the political uncertainty…
Recent Cabinet Decisions outlined that the proposal made by Hon. Ranjith Siyambalapitiya, the Minister of Power and Renewable Energy, to award the procurement for purchasing 2,500 km of Aerial Bundled Conductors used by the Ceylon Electricity Board (CEB) for distribution purposes, to M/s ACL Cables PLC for a sum of Rs.1,456.2 million (Rs. 1.45 billion),…
Stepping in and mediating on time, the Sri Lanka has successfully turned around the issue of spoilt canned fish imports muddle following in-depth and multi-level talks with all the key stakeholders in Colombo on 10 July. “We invite a canned fish supplier delegation from China to Sri Lanka for discussions” said the Minister of Industry…
Reuters – Sri Lankan shares closed steady on Tuesday, while the turnover slumped to a near three-month low as many investors remained on the sidelines due to a lack of bullish news amid concerns over political uncertainty, stockbrokers said. Turnover stood at 142.7 million rupees ($896,357), its lowest since April 16, and less than a…
One of Sri Lanka’s leading privately owned Licensed Commercial Banks – Hatton National Bank had tied up with Simpleworks Business Solutions Pte Ltd (SimpleWorks) of Singapore to automate bank’s support center operations with a view of delivering a superior customer service. Accordingly, HNB launched its fully integrated Omni Channel Contact Centre – recently with an…
Reuters – The Sri Lankan rupee closed steady on Tuesday after six straight sessions of decline, as importer dollar demand offset mild exporter dollar sales, traders said. The rupee closed flat at 159.25/35 per dollar. It has declined 3.8 percent so far this year. “We think the rupee will hold at this level for the…
Bloomberg – Samsung Electronics Co. opened the world’s largest mobile phone factory in India, in a win for Prime Minister Narendra Modi’s flagship program to lure investors to manufacture in the South Asian nation. The factory was inaugurated by Modi and South Korean President Moon Jae-in during their visit to the facility in located at the…
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