IMF representatives today met the Minister of Finance Ravi Karunanayake for a mission review of the USD 1.5 billion loan approved for Sri Lanka under the Extended Fund Facility (EFF) to support the country’s economic reform agenda. Jaewoo Lee, IMF Representative, and the Country Representative for Sri Lanka and Maldives Ms,Eteri Kyintradgze met the Minister…
Reuters – Sri Lanka’s benchmark index edged up on Tuesday to recover from a seven-week closing low hit in the previous session, led by blue-chips, but investors stayed on the sidelines amid confusion over falling bond yields. The benchmark Colombo stock index ended up 0.2 percent at 6,508.09, edging up from its lowest close since…
The Central Bank of Sri Lanka (CBSL) has revealed the number of active credit cards in Sri Lanka by end June 2016 was 1,205,422. This number had been 1,191,448 by end May 2015 and 1,142,231 by end December 2015, according to the weekly economic indicators release by the bank. The indicators also reveal that from…
Logistics International, the inland container depot of Hayleys Advantis, commissioned a purpose built 3,500TEU inland container depot spread across 5.5 acres in Sedawatte, Colombo, recently. With a 6 acre, 3,000 TEU depot already in operation in Welisara, this move more than doubles the company’s overall container handling capacity. “We are excited to dedicate the Sedawatte…
Sri Lanka’s economy has witnessed a steady revival in growth during the past few months, with the country venturing into new avenues of commodity and service monetization. Investmenthas evenly spread across technology, innovation and BPOs, but close inspection begs to raise the question: Is Sri Lanka putting enough effort to foster and realize its workforce…
MTI Consulting, as part of an initiative to scale up their corporate finance and investment advisory practice, has announced the appointment of Naushervan “Naush” Beg, a Canadian-Pakistani with formidable international experience in financial services, capital markets, private equity and investment facilitation. Having worked in North America, the Middle East and South Asia, Naush brings a…
A high level business delegation headed by the Premier of Tasmania, Hon Will Hodgman and Matthew Groom, Tasmanian Minister for State Growth, Energy, Environment, Parks and Heritage visited Sri Lanka from the 8th to the 10th of September 2016.The first of its kind, Tasmanian government led delegation included senior government and business leaders from the…
NDB Bank, The 2nd Runner-Up of the ‘Best Corporate Citizen Sustainability Award 2015,’ organized by the Ceylon Chamber of Commerce says, corporate entities should look beyond economic prosperity in their business operations to help build a healthy environment for the future generations. “NDB considers that it is the responsibility of corporate entities to take a…
Reuters – Samsung Electronics Co Ltd’s (005930.KS) shares fell to their lowest level in nearly two months on Monday after the tech giant told customers to switch off and return their new Galaxy Note 7 smartphones due to fire-prone batteries. Investors had wiped 15.9 trillion won (14.3 billion) off the South Korean firm’s market capitalization…
AFP – Civil aviation authorities in the Emirates have banned the use of Samsung’s Galaxy Note 7 on all its national carriers because of the risk of batteries exploding in the “phablet” smartphone. “The General Civil Aviation Authority has banned operating, charging and carrying in bags the Samsung Note 7 on board national carriers’ flights,”…
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