Prime Minister Ranil Wickremesinghe has ordered that the sale of Seylan Bank shares valued at Rs. 1.3 billion owned by the Bank of Ceylon be cancelled immediately. While it has been reported that this transaction has been carried out without the government’s approval, sources add that it has also been carried without the knowledge of…
Colombo International Container Terminals (CICT) has been presented with a ‘Highly Commended’ certificate in the ‘Port Operator’ category at the prestigious Lloyd’s List Middle East and Indian Subcontinent Awards for 2016. The accolade recognises the view of the panel of judges that the CICT-managed Colombo South Terminal of the Port of Colombo “is a Terminal…
People’s Bank proudly launched its new logo recently to reflect the Bank’s evolution to keep pace with new global banking trends and to cater to fast-changing aspirations of customers. Reflecting trust, sophistication and efficiency, the symbolic hands in the new logo represent good governance and the peoples’ co-operation and unity. This initiative reflects People’s Bank’s…
Reuters – Sri Lankan shares fell for a third straight session on Friday to close at their lowest in more than two weeks, as a dollar rally to a 14-year peak after an interest rate increase by the U.S. Federal Reserve earlier this week kept investors subdued. The 25-basis-point rate increase could hike borrowing costs…
Sri Lanka was selected as eligible for a Compact Programme under the U.S. Millennium Challenge Cooperation (MCC) at the meeting of the MCC Board of Directors held in Washington DC on 13 December. Compact Programmes are large, five-year grants for countries that meets MCC’s eligibility criteria of good governance, economic freedom and investment in its…
Verité Research, in partnership with the Lanka Fruit & Vegetable Producers, Processors and Exporters Association (LFVPPEA) held a roundtable discussion on “Boosting Agri Exports: Reducing Domestic NTB’s” at the Ceylon Chamber of Commerce. The discussion brought together a wide range of stakeholders from both private sector and government involved in the process of agricultural trade…
The Sri Lanka Retailers’ Association (SLRA) was formed in October 2015 and was incorporated in June 2016 as a Company Limited by Guarantee that strives to be the “Voice of the retail industry in Sri Lanka” with an ambitious vision to “Achieve Retail Excellence”. The Association aims to harness the resources of the “Organized Retail…
In an effort to nurture innovation among the country’s student population, the second Business Plan competition organised by the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) will get underway in January next year, with the winning school team receiving a unique opportunity of flying to Australia to take part in an international…
The Manufacturing Sector PMI was 58.4 in November with an increase of 1.9 index points compared to October 2016 indicating that the manufacturing activities expanded in November compared to October. This was mainly due to the higher pace in which Employment and Production sub-indices expanded during the month. The New Orders sub-index also increased during…
Reuters – Sri Lankan shares fell in line with regional bourses to close at their lowest in more than two weeks on Thursday, as a 25-basis-point interest rate increase by the U.S. Federal Reserve and hints of more to come next year kept investors on tenterhooks. The Fed signalled a faster pace of increases in…
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