Minister of Finance and Mass Media Mangala Samaraweera met the Director South Asia of the International Finance Corporation (IFC) of the World Bank – Mengistu Alemayehu in Washington on Wednesday (11th Oct.). Wide ranging discussions focused on ways and means of enhancing mutual co-operation to promote private sector contribution for the economic development of Sri…
WASHINGTON — The World Bank released the following statement concerning erroneous reporting in Sri Lanka: There are allegations in the media in Sri Lanka referring to the announcement on September 28 by the World Bank of the debarment of SMEC International Pty. Ltd., a subsidiary of SMEC Holdings Pty. Ltd., for 12 months. These allegations…
Mahindra has announced to launch an electric version of its KUV100 compact SUV in 2018. Confirming this to media at the launch of the KUV100 facelift+ in Mumbai, Pawan Goenka, managing director of Mahindra & Mahindra (M&M) also said that all the SUVs from the brand will have an electric variant in future. Goenka said…
The Hindu – Sri Lanka’s external debt burden is well known. The country, which came out of a long civil war in 2009, is currently struggling to service an outstanding debt of about $46.6 billion. But more recently, the Central Bank has found a very high level of household debt in the war-affected communities of…
The inauguration ceremony of the 15th Annual Conference of the Association of Accounting Technicians of Sri Lanka (AAT Sri Lanka) was held under the patronage of President Maithripala Sirisena at the Water’s Edge Hotel, Battaramulla, on 10th October. The two-day conference was held under the theme “Change; Challenge to an Opportunity”. At the inaugural session…
Reuters – Sri Lankan shares extended gains into a second session on Wednesday in heavy trade and posted their highest close in over two months, as retail investors bought, particularly plantation stocks, after recent foreign buying, brokers said. Turnover was 1.93 billion rupees ($12.6 million), more than double this year’s daily average of 935.8 million…
The Government of Finland has agreed to provide grants and concessionary loans for development projects in Sri Lanka. The agreements in this regard were signed yesterday (10th Oct.) at the Foreign Ministry of Finland. The agreements were signed between Finance Ministry Secretary R.H.S. Samaratunga and Director General of Finland Foreign Ministry Sathu Sakunthala. Under this…
The representatives of the Federation of Finnish Industry said that they are willing to invest and explore business opportunities in Sri Lanka. This was emphasized at a breakfast meeting they held with Prime Minister Ranil Wickremesinghe and members of the Finnish Industry Federation yesterday (10th Oct.). The entrepreneurs of the Federation who are doing business…
The issuer rating of SL[A-] with stable outlook was reaffirmed for First Capital Holdings PLC (First Capital) by ICRA Lanka Limited, a subsidiary of ICRA Limited, a group company of Moody’s Investors Service. ICRA Lanka also reaffirmed the issuer rating [SL]A- with stable outlook for First Capital’s standalone primary dealer First Capital Treasuries PLC. …
Land values in Colombo are growing at a remarkable rate, a recent study has found. According to the National House Price Index maintained by LankaPropertyWeb.com, average land prices in Colombo has increased by 36% within the last year alone, making it the biggest increase in the real estate sector, when compared against house and apartment…
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