Reuters – Sri Lankan shares fell to a near one-year closing low on Tuesday as expectations of an interest rate hike weighed on sentiment, after the International Monetary Fund urged the Sri Lankan central bank to tighten monetary policy. The Colombo stock index closed 0.4 percent lower at 6,046.79, its lowest close since March 30,…
LAUGFS Holdings, one of the largest diversified business conglomerates re-launched its gas and lubricant corporate brands with the unveiling of new logos/packaging & advertising campaigns for the season. The new logos will portray company’s new aspirations within and beyond Sri Lanka, further strengthening LAUGFS vision to expand its energy presence on both local & global…
Along with Sri Lanka’s 34th World Consumer Rights Day (WCRD) celebrations, the country is also launching its first consumer oriented digital platform service today (15th March). President Maithripala Sirisena and Minister Industry and Commerce Rishad Bathiudeen are scheduled to unveil the first consumer oriented national social media platform by the country’s apex safeguard agency, the…
Former Managing Director of Sampath Bank, Aravinda Perera, has reportedly been appointed as the new Managing Director of Royal Ceramics Lanka Plc. He was appointed to the position left vacant by the resignation of Nimal Perera on March 07, 2016. Aravinda Perera is the former Managing Director of Sampath Bank PLC and was appointed as…
Hong Kong-based Shangri-La Asia has increased its investment in Sri Lankan properties by 60 percent to $800 million, in order to meet demand for larger-than-planned apartments in Colombo, an official said on Monday. The international hotel brand had originally planned to invest $500 million in a 541-room hotel and 390 apartments in Colombo and another…
Reuters – Sri Lankan shares hit a five-week closing low on Monday on worries the country’s central bank would raise interest rates at a meeting next week after the International Monetary Fund urged it to tighten monetary policy, brokers said. The Colombo stock index closed 0.23 percent down at 6,070.80, its lowest since Feb. 6….
The Central Bank of Sri Lanka hereby informs the general public that a new set of circulation coins of Rupee 1 and Rupees 5 will be issued to circulation after changing the metal/alloy from brass plated steel (gold colour) to stainless steel (silver colour). The edge lettering of the Rupees 5 coin has been removed…
Renault has launched the Climber edition of the Kwid at a price tag of Rs 4.30 lakh for the 5-speed manual transmission variant. The AMT-equipped variant has been priced at Rs 4.60 lakh (all prices ex-showroom, Delhi). Renault India has witnessed strong sales with their popular entry-level hatchback Kwid and the demand for the vehicle…
Activities of several brokering companies at the Colombo Stock Exchange have reportedly come under suspension. On an inquiry by Ada Derana Biz, a stock Exchange spokesman confirmed that three brokering companies which had failed to fulfill the required capital adequacy have been suspended from buying any shares. He further added that this relevant suspension occurs…
Claims number one position , defeating 72 Global distributors Ideal Motors (Pvt) Ltd, a fully owned subsidiary company of the Ideal Group and has been representing Mahindra & Mahindra since 2009, with core business interests in Motor Franchise Imports and Motor Spare Parts in Sri Lanka, claimed the Number One position, defeating 72 other global…
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