Reuters – Sri Lankan shares closed lower on Tuesday, slipping from a more than one-week high hit in the previous session, on concerns over rising interest rates and foreign fund outflows. Treasury bill yields have risen between 16 and 36 basis points to near three-year highs in the last three weekly auctions through Wednesday despite…
Work on Sri Lanka’s long awaited national Innovation Index which is set to measure the Lankan innovation portfolio, began in Colombo on 14 June-and the top UN agency tasked with world Intellectual Property (IP) development says many new IP projects have been earmarked for Colombo in future. “In view of the rapidly expanding knowledge–driven global…
The Brandix Group’s continuing efforts to improve access to water in rural communities resulted in 367 water supply projects being completed in 2015-16, Sri Lanka’s largest apparel exporter reports. The projects implemented included wells, pipe-borne water connections, water supply systems, tube wells, deep tube wells, rainwater harvesting systems and water filters over the 12 months,…
The Government of Sri Lanka and the Asian Development Bank (ADB) signed a $2 million grant agreement to finance relief efforts in the country following the recent floods and landslides which claimed the lives of around a hundred people and damaged the homes and livelihoods of hundreds of thousands more. “Considering the scope of the…
Reuters – Sri Lankan shares closed at a more than one-week high on Monday as investor sentiment remained upbeat following approval of a key loan by the International Monetary Fund, but concerns over rising interest rates and foreign fund outflows capped gains. The IMF’s executive board approved a three-year, $1.5 billion loan to support Sri…
It’s time again for Sri Lanka’s premier mountain biking challenge, SriLankan Holidays’ Rumble in the Jungle 2016, a grueling four-day battle with nature for bikers of many nations from 14-17 June, being held for the second time. Captain Suren Ratwatte, SriLankan Airlines’ CEO, said: “SriLankan Airlines salutes the men and women who are taking up…
The NIFT-TEA Knitwear Institute, promoted by Tirupur garment exporters, on Friday, has signed a draft Memorandum of Understanding (MoU) with the Sri Lanka Institute of Textile and Apparel under the Lankan government, for utilising the Lankan expertise on production management. The draft MoU, signed in Colombo between the representatives of NIFT-TEA Institute and Sri Lankan…
KUCHING: DNC Asiatic Holdings Sdn Bhd, which has invested some RM10mil to develop the market for its Malaysian-made Demak motorcycles in Sri Lanka, has plans to set up manufacturing facilities there. According to executive director Hu Ying, the company would consider setting up a manufacturing plant in Sri Lanka once the Demak brand is firmly…
IFC Country Manager for Sri Lanka and Maldives Ms. Ameena Arif visited The Ceylon Chamber of Commerce last week. She was met by the Chairman of the CCC, Mr. Samantha Ranatunga. During the discussion, Mr. Samantha Ranatunga said, the Ceylon Chamber of Commerce is keen to work with the IFC. “Chamber has a very rich…
Designated banking partner for country’s first Hybrid Debit Card coupled with Sony’s Near Field Communication technology The Commercial Bank of Ceylon’s participation in a ground-breaking initiative in Sri Lanka’s tea plantation sector to automate the process of procurement of tea leaves and settlement for bought leaf will result in sophisticated technology and banking services reaching…
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