Reuters – Sri Lankan shares fell in thin trade on Friday, as the market took a breather after hitting a near three-month high in the previous session, with foreign investors net selling equities ahead of the national budget. The Colombo stock index closed 0.3 percent lower at 6,612.91, slipping from its highest close since July…
Forbes – Amazon CEO Jeff Bezos is now the richest person in the world for the second time. On Friday morning, Amazon stock opened up more than 8% higher than Thursday’s close, adding nearly $7 billion to Bezos’ net worth. But thanks to a 7% spike in Microsoft’s stock overnight, it wasn’t quite enough to…
~ Records Profit-After-Tax of Rs. 3 Billion in 3Q The Bank closed the 9 months ending 30th September 2017 with a post-tax profit of Rs.3,002 Mn, a moderate growth of 6% over the corresponding period last year. These results were impacted by provisions made on account of a legacy NPA, payment of which is due…
Concessions likely for investments in IT, health sectors: Samarawickrama The Hindu Business Line – Indian professionals and workers will not get any direct concessions to ease their travel for work in Sri Lanka as part of the extended Free Trade Agreement (FTA) being negotiated between the two countries, Sri Lankan Minister for International Trade Malik…
The Asian Development Bank’s (ADB) Board of Directors has approved a loan of $200 million with sovereign guarantee for Ceylon Electricity Board to develop Sri Lanka’s first 100-megawatt wind park. “The new Wind Power Generation Project will not only provide access to a clean and reliable power supply in Sri Lanka, but also create an…
Concluding the long quest for the most outstanding personalities in the hotel industry, The Hotels Association of Sri Lanka (THASL) concluded the vibrant award ceremony ‘Rising Star Awards 2017’ on a successful note recently. Minister of Special Assignments Hon. Dr. Sarath Amunugama participated as the Chief Guest of the event while Minister of Tourism Development…
After a marathon three day bilateral trade session in Colombo that ended on 26 October, both Russia and Sri Lanka achieved a greater understanding on breaking the Ceylon Tea impasse that has been dogging their trade cooperation efforts lately. ‘We warmly welcome the Russian delegation to Colombo” said the Secretary of Ministry of Industry and…
Reuters – Sri Lankan shares touched a near three-month closing high on Thursday as investors picked up bank and diversified shares, brokers said. The Colombo stock index finished 0.28 percent firmer at 6,633.20, its highest close since July 31. Shares of the biggest listed lender, Commercial Bank of Ceylon Plc, rose 1.8 percent while Hemas…
Fitch Ratings has assigned Bank of Ceylon’s (BOC, AA+(lka)/Stable) proposed Sri Lanka rupee-denominated Basel III-compliant subordinated unsecured debentures an expected National Long-Term Rating of ‘AA(lka)(EXP)’. The debentures, totalling up to LKR8 billion, are to have maturities of five and eight years, and carry fixed- and floating-rate coupons. The bank plans to use the proceeds to…
Zeppelin has, throughout its 35-year history, brought in outstanding and innovative products. Now, to help Sri Lankans ride the wave of vinyl’s revival they have introduced this cool belt-driven three speed Briefcase Record Player with true portability and fitted with unbelievable technology such as dynamic full range stereo speakers, RCA, head phone jack outputs, USB…
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