SK Energy and Service Company contributed USD 20,000 to Sri Lanka to assist the victims of recent flood and landslides.
Oil prices stabilized on Friday following steep falls earlier this week, but they were still pressured by evidence of an ongoing fuel glut despite efforts led by OPEC to tighten the market by holding back production. Brent crude LCOc1 was at $47.86 per barrel at 0504 GMT, unchanged from its last close. It still puts…
Reuters – Sri Lankan shares ended down for a fourth consecutive session on Wednesday, and hit their lowest close in more than a week, due to profit-booking in large-cap shares such as Ceylon Tobacco Company Plc, but foreign inflows helped curb losses. Analysts said investors are waiting to see the real impact of the floods…
Sri Lankan banks are likely to come under increased capital pressure from Basel III-related requirements that take full effect at the start of 2019, Fitch Ratings says. We expect most banks will have to raise capital to meet the higher requirements, particularly if they are pursuing rapid growth. The sector’s capital needs could be exacerbated…
Sri Lanka and Thailand has come to a consensus on a Trade in Goods FTA as the first step before a comprehensive FTA that follows. Thailand has proposed an MOU on Strategic Economic Partnership (SEP) with Sri Lanka as a stepping stone, on June 2 in Bangkok. The latest breakthrough in Sri Lanka –Thai trade…
An agreement to provide a credit line of USD 318 million for the development of the railway sector was signed between the Ministry of Finance of Sri Lanka and the EXIM Bank of India. The Loan Agreement was signed by Dr. R H S. Samaratunga, Secretary, Ministry of Finance and Mass Media and David Rasquinha,…
Reuters – Sri Lankan shares fell to a one-week closing low on Tuesday on profit-booking in blue-chip shares such as John Keells Holdings Plc while investors assessed the impact of the recent floods on exchange rate and inflation. Analysts said it was also too early to evaluate the real impact of the floods and landslides…
The Monetary Board, with the concurrence of the Hon. Minister of Finance, has promoted Assistant Governor, Mr. K D Ranasinghe to the post of Deputy Governor of the Central Bank of Sri Lanka (CBSL) with effect from 30th April 2017. Mr. K D Ranasinghe Mr. K D Ranasinghe has nearly 31 years of experience…
The Saudi Fund for Development is looking to provide credit facilities for Sri Lankan firms to import raw materials from Saudi Arabia. Accordingly, Lankan Importers importing fertilizer, plastic raw materials, cables and electrical wires from Saudi Arabia will be eligible to obtain credit, which would be given under the ‘Foreign Buyer Credit Assistance’ by…
The Colombo Stock Exchange (CSE) announces the inclusion of non-voting shares which are listed and traded on the exchange in its Index Market Capitalization (IMC) calculation. Including non-voting shares in the calculation of indices is seen as a common practice internationally, and is carried out by a number of leading exchanges and index providers globally….
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