As envisaged, the growth of credit extended to the private sector by commercial banks decelerated considerably during September 2016, in response to monetary policy measures adopted by the Central Bank since end 2015. Accordingly, the year-on-year growth of private sector credit by commercial banks was recorded at 25.6 per cent in the month of September…
Reuters – Sri Lankan shares fell on Monday to a near eight-month low, ahead of central bank policy rate announcement as investors kept to the sidelines amid concerns over budget tax proposals including revisions in corporate and withholding taxes. Analysts said investors were awaiting the central bank’s decision on interest rates on Tuesday. They expect…
The Colombo Stock Exchange (CSE) has once again extended its support for the prestigious Annual Report Awards Competition organized by the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka). CSE will power the 52nd Annual Report Awards competition as a Strategic Partner. This is the third year in a row that CSE has…
The Commercial Bank of Ceylon PLC has been ranked second in Business Today’s ‘Top 30’ public listed companies in Sri Lanka in 2015-16 for the fourth consecutive year. This is also the ninth year that Sri Lanka’s benchmark private sector bank has been ranked among the top fivelisted companies in the country on the basis…
The Brandix Group has paid tribute to an inspirational trailblazer by naming its Head Office at Rheinland Place, Colombo 3, after the legendary business leader Ken Balendra, the Group’s first Chairman, at a simple ceremony held on Monday, 28th November 2016. Commissioned in April 2015, the seven-storey building will henceforth be known as the ‘Ken…
The Government entered into a loan agreement with the Asian Development Bank to obtain a loan of USD 250 million from the Ordinary Capital Resources Fund of the Asian Development Bank to implement the Capital Market Development Program in Sri Lanka. The main objective of the CMDP is to ensure that the capital markets in…
Breaking news this month is sending a wave across Sri Lanka and the world – the 2017 budget has been announced, and leading property portal Lamudi claims, it’s great news for real estate! Following the end of the war, Sri Lanka’s property construction industry has been booming. However, strict laws on foreign nationals owning property…
Mr. Sanjay Tiwari, Managing Director & CEO, of Piramal Glass Ceylon PLC was elected as the new President of the Sri Lanka Ceramics and Glass Council at its 3th AGM held recently at the Cinnamon Grand Hotel, Colombo. Tiwari who took over Mr. Mahendra Jayasekera, CEO, Lanka Walltiles PLC is the 4th President of the…
The Asian Development Bank (ADB) has launched the new South Asia Subregional Economic Cooperation (SASEC) Operational Plan 2016-2025, marking the program’s first comprehensive long-term plan to promote greater economic cooperation among member countries. “Sri Lanka will be well served to closely synchronize its efforts to promote export-oriented manufacturing and foreign direct investment with the SASEC…
Shangri-La’s Hambantota Resort & Spa in Sri Lanka is delighted to announce that Iain McCormack has joined the Shangri-La family as the resort’s new General Manager. With a wealth of luxury hospitality experience spanning an impressive 38 years, Iain’s expertise and insight will be a valuable asset to Sri Lanka’s newest luxury opening. Having spent…
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