“We welcome the decision by the US Department of Homeland Security to lift the electronic devices ban on flights between Abu Dhabi and the United States, following the successful validation of security measures at the US Preclearance facility at Abu Dhabi airport earlier today (2 July 2017). “Effective immediately, the removal of the restrictions allows…
The World Capital Centre (WCC) signed a US$ 2 billion investment agreement with the Board Of Investment (BOI) recently, for the much hyped and long awaited tallest building in the Asian region and the 9th tallest to be in the world. The World Capital Centre also known as WCC is a globally renowned chain with…
Commencing 01 July 2017, licensed banks in Sri Lanka will adopt minimum capital standards based on the Direction issued by the Central Bank of Sri Lanka in late 2016. This Direction is in line with the Basel III guidelines issued by the Bank for International Settlements (BIS) related to capital, leverage and liquidity in order…
Reuters – Sri Lankan stocks rose to an 18-month high on Friday led by blue-chips as foreign buying continued, brokers said. Analysts said concerns over a proposed tax bill weighed on overall investor sentiment. The Colombo stock index ended up 0.66 percent at 6,747.07, its highest close since Jan. 7. The bourse rose 0.47 percent…
International Fund for Agricultural Development (IFAD) and the Government of Sri Lanka signed Financial Agreement on 26th June for the implementation of the Smallholder Agribusiness Partnership (SAP) Program. This was designed to support the Public Private People Partnership (4Ps), focusing the smallholder farmers to develop the agribusiness value chain – which encompasses agricultural production, processing,…
~ Sweeps up five awards in its fifth consecutive year on the Index 99X Technology stole the show at the Great Place To Work awards ceremony this year, held on the 28 June at Cinnamon Grand Colombo, when it was felicitated with five awards, and was among the first companies in the country to be…
The Government of Japan in accordance with the long term economic cooperation between the two Countries has agreed to provide grant assistance of Rs. 3,422 million under the Grant Aid Program for the Establishment of a Radar Weather Network in Sri Lanka. The signing of Exchange of Notes and Grant Agreement pertaining to the above…
The Ceylon Chamber of Commerce appointed Mr. Rajendra Theagarajah as its new Chairman during its 178th AGM held at the Cinnamon Grand Hotel, Colombo on the 29th June, 2017. Mr. Theagarajah, a veteran banker, succeeds the outgoing Chairman Mr. Samantha Ranatunga, who led the Chamber during the past two years. He functioned as the Vice…
Technicalities of the Gem and Jewelry Industry When glancing at a glittering jewel or an intricate piece of jewelry, one rarely pauses to think of the tale that lies behind the glimmer and shimmer. The production of gems and jewelry consists of three main segments – Lapidary Work, Jewelry Manufacturing and Laboratory Testing. The Lapidary…
Reuters – Sri Lankan stocks edged higher on Thursday led by shares of diversified companies as foreign buying continued, while concerns over a proposed tax bill weighed on overall investor sentiment. The Colombo stock index ended 0.08 percent firmer at 6,702.53, edging up from its lowest close since June 19 hit on Wednesday. Foreign investors…
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