Axiata Group Bhd unit, Dialog Axiata Plc, which is Sri Lanka’s largest telecommunications service provider, has bright prospects to increase its investment by another US$300 million in the country as its licence issue is being resolved. Prime Minister Najib Abdul Razak said the additional investment, which was held back due to the delay in the…
The first ever meeting between Pakistan’s sole rice exporter grouping REAP and Sri Lanka’s essential commodities import conglomerate EFCITASL was successfully wrapped in Colombo on 14 December despite coming up short on high expectations of a rice trade deal between the two. “Our first ever talks with the Essential Food Commodities Importers and Traders Association…
Reuters – Sri Lankan shares fell for a second straight session on Monday to hit their lowest close in more than eight months as investors offloaded plantation and telecom stocks. The Colombo Stock Index ended 0.09 percent weaker at 6,346.70, its lowest close since April 11. It lost 0.4 percent last week, its sixth consecutive…
President Maithripala Sirisena and the visiting Prime Minister of Malaysia Dato’ Sri Mohd Najib bin Tun Abdul Razak agreed to expand existing close cooperation in many fields including trade and investment, agriculture, science and technology including nano and bio technology, e-commerce, e-courts, international forums, military training, diplomatic training and intelligence exchange to curb drugs and…
COLOMBO (Reuters) – Fifty couples from China tied the knot in the Sri Lankan capital on Sunday in a mass wedding ceremony, conducted in the island’s Buddhist traditions, as the island aims to woo more tourists. The couples included newly-weds as well as already married couples aiming to re-dedicate their marriages, officials said. Some were…
New York, December 17, 2017 — Moody’s Investors Service says that Sri Lanka’s (B1 negative) high general government debt levels, very low debt affordability, and fragile external payments position continue to present the sovereign with material credit challenges. In particular, persistently high government liquidity and external vulnerability risks will maintain pressure on the sovereign’s credit…
President Maithripala Sirisena yesterday said, he would make an official request from Russian President Vladimir Putin to withdraw the temporary restrictions imposed on tea imports from Sri Lanka. President Sirisena also said that a special delegation headed by Plantation Industries Minister Navin Dissanayake and Industry and Commerce Minister Rishad Bathiudeen will be sent to Russia…
MOSCOW (Reuters) – Russia will place temporary restrictions on imports of all agricultural products from Sri Lanka, including tea, from Dec. 18, the Russian agricultural safety watchdog Rosselkhoznadzor said on Thursday. The watchdog said it had taken the decision to impose restrictions after it found an insect, known as the Khapra beetle, in the packaging…
The Colombo Stock Exchange (CSE) announces the following changes in S&P Sri Lanka 20 index constituents made by S&P Dow Jones Indices at the 2017 year-end index rebalance. A revision of the S&P SL 20 methodology in March 2017 established the practice of a semiannual rebalance of the index (previously conducted annually), which is set…
The Government of Sri Lanka entered into three Loan Agreements worth of USD 270 million with the Asian Development Bank (ADB) for the implementation of two projects; Integrated Road Investment Program and Jaffna Kilinochchi Water Supply Project. A loan of USD 150 million was obtained for the investments required for the 4th Tranche of the…
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