Top professional and Institute of Chartered Accountants (ICASL) Past President Ranel T. Wijesinha confirmed to Ada Derana according to sources from Securities and Exchange Commission (SEC) and Ministry of Finance that his appointment to be the next Chairman is not yet been confirmed by authorities. He said that currently the Commission had received a proposal…
Reuters – Sri Lankan shares edged down in dull trade on Thursday and settled near their lowest close in more than one week hit earlier in the week as continued political uncertainty dampened sentiment, stockbrokers said. The market has been awaiting signs of political stability after President Maithripala Sirisena suspended parliament until May 8. A…
(Hong Kong / Abu Dhabi, 26 April 2018) CK Hutchison Group (“CKHH Group”) and Emirates Telecommunications Group Company PJSC (“Etisalat Group”) have entered into a definitive agreement to merge their mobile telecommunications businesses in Sri Lanka, operating under Hutchison Telecommunications Lanka (Private) Limited (“Hutch Lanka”) and Etisalat Lanka (Private) Limited (“ESL”) respectively. The combined business…
Fitch Ratings-Hong Kong-26 April 2018: Recent political developments in Sri Lanka have created some uncertainty over reform momentum and fiscal consolidation, and prolonged upheaval could undermine investor confidence ahead of large external debt maturities in 2019-22, says Fitch Ratings. That said, the unrest has had limited economic impact so far, and Sri Lanka’s ‘B+’ sovereign…
A high level delegation of Pakistan Furniture Council (PFC) is scheduled to visit Sri Lanka this week to explore new avenues for cooperation in various fields Associated Press of Pakistan reported. According to a press statement issued here, the delegation would explore possibilities for cooperation in infrastructure development, policy and institution development, superior technological capabilities,…
DOC990 operated by Digital Health (Pvt) Ltd, a joint venture between Digital Holdings Lanka (Pvt) Ltd., a wholly owned subsidiary of Dialog Axiata PLC, together with Asiri Hospital Holdings PLC, announced the expansion of the joint venture partnership in Digital Health (Pvt) Ltd., with equity investments from Nawaloka Hospitals PLC and Ceylon Hospitals PLC (Durdans)….
Mr. David Hartman, Director General for South Asia at Global Affairs Canada, together with David McKinnon, High Commissioner of Canada to Sri Lanka, met with the Minister of Finance and Media, Hon. Mangala Samaraweera, at the Treasury, yesterday (25th). The discussion focused on deeper participation of Canadian Government and Canadian businesses in Sri Lanka’s development,…
Reuters – Sri Lankan shares edged higher on Wednesday from their lowest close in more than one week as foreign buying provided some support to the market amid continued political uncertainty, stockbrokers said. Foreign investors bought shares worth a net 315.9 million rupees ($2.0 million) on Wednesday, but they have been net sellers of 999.5…
IFC, a member of the World Bank Group, is partnering with leading apparel company MAS Holdings to assess areas for resource efficiency across three of its factories in Sri Lanka. This will help the company save costs, prevent waste, and reduce greenhouse gas emissions. Under this project, IFC will assess and recommend measures that can…
Reuters – The Sri Lankan rupee slipped to a fresh all-time low of 157.40 per dollar on Wednesday for a third straight session, pressured by persistent importer dollar demand, dealers said. Two dealers confirmed that the rupee was traded at 157.40 on the dollar – beyond the previous record-low of 157.30 hit on Tuesday. “Unlike…
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