Reuters – Taxi drivers in Hungary’s capital demonstrated on Monday against ride-hailing service Uber, whose growing popularity they find unpalatable amid new regulations setting a fixed tariff for traditional taxi firms that is higher than Uber’s. Taxis blocked a major road crossing in central Budapest and drove around in city streets blocking much of the…
Under the guidance of Minister for Tourism & Christian Affairs John Amarathunga and the present Chairman of SLTPB Mr. Paddy Withana, a well-known industry veteran, Sri Lanka Tourism Promotion Bureau (SLTPB) has setup plans to release an aggressive promotional campaign in 2016, within the selected potential markets to compete with the potential competitors in the…
Colombo bourse extended the pessimistic sentiment on the opening day of the week as core index shed 1.89%. Main index declined to an 18 month low of 6,324.61, down by 121.59 index points while high cap constitute S&P SL20 index declined by 1.67% or 55.77 index points, where all the banks and finance stocks in…
Fitch Ratings has revised the outlook on Sri Lanka’s telco sector to stable from negative as the new budget, introduced in December 2015, has scrapped the recurring taxes which could have diluted the industry’s EBITDA margin by an average of 6%7%. We believe that Sri Lanka Telecom’s (SLT) and Dialog Axiata Plc’s 2016 credit profile…
Prof. Hemanthi Ranasinghe was appointed as the new Dean of the Faculty of Graudate Studies, University of Sri Jayewardenpura by the Council of the University. She will assume duties on Thursday 21 January 2016 at 9 am at Faculty of Graduate Studies. Prof. Hemanthi Ranasinghe received Bachelors Degree in Botany (Hons) Special from University of…
Expert financial planner NDB Wealth has kicked off the new year by winning a coveted international award, presented by the prestigious Global Banking & Financial Review magazine. In fact, NDB Wealth was actually recognised for the second year in a row, earning the coveted title of “Best Asset Management Company, Sri Lanka 2015″, for its…
The Central Bank of Sri Lanka will commence operations at its Regional Office in Nuwara Eliya on 17 January 2016 to further expand its regional presence to promote financial inclusion and to facilitate economic activities in the region. The Nuwara Eliya Regional Office is to be declared open by Mr. Arjuna Mahendran, the Governor of…
The Asian Development Bank (ADB) and LOLC Finance, one of Sri Lanka’s leading non-bank financing institutions, have signed an agreement for a loan totaling $69 million to help expand funding support to micro- small- and medium-sized enterprises (MSMEs), which play a key role in the economy. LOLC Finance, will get $69 million, consisting of an…
In the successful conclusion of the recent visit of Pakistani Prime Minister Nawaz Shariff to Colombo just last week, Pakistan, Sri Lanka’s second largest trade partner in SAARC, unveiled its largest ever Single Country Expo which commenced in South Asia in Colombo on 15 January. Pakistani Minister of Commerce, Khurram Dastgir Khan addressing the inaugural…
Colombo bourse continued its roll down the hill on Thursday (14) as it plunged to 6,446.20, down by -108.17 index points or -1.65%, proving yesterday’s increase was merely a dead cat bounce. S&P SL20 lost -65.44 index points to close at 3,340.13, a drop of -1.92%. Today’s loss caused the All share Index to lose…
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