Minister of Development Strategies and International Trade, Malik Samarawickrama, opened the two-day Roundtable Investment Forum with Sovereign Wealth Funds(SWFs) in Colombo yesterday under the patronage of the Prime Minister Ranil Wickremesinghe. The Roundtable was an initiative by the Minister following his visit to the Global Investment Forum in Dubai during November 2017 and is jointly…
The government looking to reduce its debt to GDP ratio to 70 percent by 2020, had cabinet approve this week proposals put forward by the Central Bank to achieve this target. The Central Bank made a presentation to the Cabinet Committee on Economic Management (CCEM) on November 1, 2017 on the options available to bring…
Reuters – Sri Lankan shares ended weaker on Wednesday as investors sold blue chips such as Ceylon Tobacco Co, but foreign investors’ appetite for risky assets limited the downslide. The Colombo Stock Index ended 0.4 percent weaker at 6,502.96. Turnover stood at 376 million rupees ($2.45 million) on Wednesday, well below last year’s daily average…
New Delhi: French car maker Renault is working on an electric version (EV) of Kwid, its successful and affordable small car, increasing competition for India’s EV makers such as Mahindra and Mahindra Ltd and Tata Motors Ltd. Renault will introduce the electric Kwid in China, followed by India. The car’s road-worthiness and range extension tests…
The Russian Federation revealed that its historic longing for Ceylon Tea has not wavered and even vowed for bigger trade with Sri Lanka, calling to despatch a strong delegation to the trade meet scheduled in Moscow this year. “Yes, we imposed a ban on Ceylon Tea, but it was nothing to do with our asbestos…
First Offloading of a Semi-Submersible Oil Rig in Sri Lanka Hayleys Energy Services, the pioneer in Oil and Gas support services in Sri Lanka, announced that it had successfully completed the offloading of the Semi-Submersible oil rig Olinda Star at the Trincomalee Port Anchorage recently. This deep-water rig is capable of drilling at water depths…
Reuters – Sri Lankan shares ended lower on Tuesday, slipping from a near seven-week high hit in the previous session, as investors booked profits in blue chip stocks, while foreign traders continued buying the island nation’s risky assets. The Colombo Stock Index ended 0.2 percent weaker at 6,527.14. The bourse rose 2.3 percent last week,…
– Has discussions with HNB’s clients having a presence in Bangladesh With Sri Lanka and Bangladesh witnessing deepening bilateral economic cooperation in recent years, particularly in key power and other large scale projects, HNB’s Managing Director and Chief Executive Officer, Jonathan Alles said the Bank is looking forward to strengthening its support and furthering strategic…
Sri Lankan banks are likely to significantly boost issuance of Basel III-compliant Tier 2 instruments in 2018, says Fitch Ratings. Most banks will need to raise capital to meet higher Basel III requirements that take full effect in January 2019, and to support balance-sheet expansion. Banks will also need to undertake significant Basel III Tier…
LVL Energy Fund Limited (LVEF) rang the opening bell to commence trading and celebrate the listing of its shares at the Colombo Stock Exchange (CSE) today. The listing follows a successful Initial Public Offering by the company, through which it raised Rs. 1.2 billion through a 120 million share issue. Director/CEO of LVL Energy Fund…
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