The Central Bank of Sri Lanka (CBSL) has decided to keep its Policy Interest Rates which in turn decide the interest rates of banks, unchanged in October as well. The CBSL states that continuing the sustained low inflation environment for the 68th consecutive month, headline inflation on a year-on-year (Y-o-Y) basis remained unchanged at 3.5…
Brent crude fell to a fresh 47-month low on Wednesday before recovering to around $84 a barrel, as faltering global growth curbed demand for fuel at a time of heavy oversupply. Oil saw its biggest daily fall in more than three years on Tuesday after the West’s energy watchdog slashed its forecasts for world oil…
Colombo shares failed to retain the positive momentum on Thursday and closed with negative returns. Core index lost 31.76 points or 0.44% to end at 7,257.07 and S&P SL 20 index lost 8.45 points or 0.21% to end at 4,056.39. The losses were mainly driven by the drop in prices of counters such as DFCC…
Malaysia’s Hyrax Oil Sdn. Bhd which is already marketing its lubricants in Sri Lanka in collaboration with the Ceylon Petroleum Corporation (CPC) is preparing to establish a lubricant oil mixing plant in Sri Lanka with a USD 10 million investment, said the head of Malaysia’s EXIM Bank. EXIM Bank Malaysia President Dato’ Adissadikin Ali…
Citrus Waskaduwa – the 5 star southern beach resort is to launch a community service project of offering reflecting lights to cyclists in the Waskaduwa area with the aim of minimizing the accidents they face while riding their bicycles. The ‘Tour de Citrus’ bicycle tour held in conjunction with this project will begin at 6.30…
This trip to Sri Lanka has provided a clear objective for SME Factors Malaysia in its future activities in the island. Though not eying any specific sector it would concentrate not only on financing but increasing knowledge as well, said President and CEO of SME Factors Malaysia Syed Zed Syed Mustafa when he met the…
Ready to play an active role in development of financing opportunities EXIM Bank of Malaysia has identified that Sri Lanka has a great need in infrastructure development especially roads, highways, power and renewable energy resources like solar, mini-hydro generation during its discussions with the Finance Ministry, said the bank’s president Dato’ Adissadikin Bin Ali when…
Colombo equities managed to regain lost grounds on Wednesday where both indices witnessed hefty returns amid net foreign inflows. Core index bagged 83.36 index points or 1.16% to end at 7,288.83 while 20-scrip S&P SL20 index increased by 53.09 index points or 1.32% to end at 4,064.84. Price inclines in Commercial Bank (closed at LKR…
The Hayleys Group led by Sri Lanka’s prominent businessman Dhammika Perera who holds the monopoly in Sri Lanka’s tile market today acquired 60.6 percent shares of the architectural aluminium extrusions producer Alufab PLC for Rs 167.9 million. In this Crossing, 7.3 million shares were acquired at Rs. 23 each. Hayleys Groups already has the aluminium…
Japanese carmaker Toyota is recalling 1.75 million vehicles worldwide over faulty brake installations and fuel component issues. The latest brake defect is found in some models of Toyota’s Crown Majesta, as well as the Noah and Voxy models produced between June 2007 and 2012. Toyota told the BBC it was not aware of any crashes,…
Video Story
