A biz delegation led by the Federation of Pakistan Chambers of Commerce and Industry, who arrived in the country on the 31st of August, ( Monday) will meet with the local business community on the 1st of September at the Ceylon Chamber of Commerce The Pakistani delegation comprises 20 members and they represents a diverse…
Latest data released by the Central Bank of Sri Lanka (CBSL) indicates that when compared to the same period last year, petrol sales in Sri Lanka during the first four months of this year has increased by 16.4 per cent or 34,000 metric tons after prices were reduced. During the first four months of this…
A giant step forward for the development of cruise tourism in Sri Lanka to be a 100,000 visitor arrivals source Sri Lanka tourism promotions bureau has invited Mr. John Tercek, Vice President of Royal Caribbean Cruises Ltd to visit Sri Lanka and address the business community of the 4 billion dollar industry said chairman Sri…
Italian energy group Eni says it has found one of the world’s largest natural gas fields off Egypt’s coast. The company said the area was 1,450m (4,757 feet) beneath the surface and covered 100 sq km (39 sq miles). It could hold as much as 30 trillion cubic feet of gas, or 5.5 billion barrels…
Though the Blue Mormon was declared the state butterfly in June, very little information is available about the winged insect. To overcome this hurdle, forest minister Sudhir Mungatiwar announced that his department would be collaborating with the Sri Lankan government to study the species in detail. The decision was taken at a recent meet between…
Colombo equities concluded the weekly activities in bullish sentiment for the third consecutive session despite foreign selling as the bargain hunters dominated the market activities. All Share Price index gained notably by 77.38 index points or +1.06% to end at 7,350.52 whilst S&P SL 20 index gained 57.99 points (+1.45%) to end at 4,049.15. The…
The shareholders of DFCC Bank PLC and DFCC Vardhana Bank at Extraordinary General Meetings held on 28 August have approved the proposed amalgamation of both banks.
The prices at the Colombo tea auctions again tumbled in the face of the decline in demand from Sri Lanka’s tea markets in Russia and the Middle East, said tea broking companies. Depreciation of Russia’s Ruble and the crises in the Middle East has adversely affected the global tea market. In the face the economic…
Chinese billionaire Wang Jianlin, one of the country’s best-known businessmen, has said China needs to drop unrealistic official economic growth targets. The Chinese government is targeting growth of around 7% this year. But Mr Wang said his country needed “to drop the fantasy of keeping a high growth rate of 7% or 8%”. His comments…
Colombo stocks stretched gains for the second consecutive day on Thursday despite the overseas investors continued to stand on the selling side. All share index closed at 7,273.14, up by 33.04 index points or 0.46% while S&P SL20 index touched 4,000 mark but closed lower at 3,991.16, up by 22.59 index points (+0.57%). Index advancement…
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