THE world could be headed towards a new global financial crisis similar to that which decimated markets in 2008, says billionaire investor George Soros. Speaking at an economic forum in Sri Lanka Thursday, the 85-year-old drew similarities between the current economic environment and the financial crash of 2008. “When I look at the financial markets…
In the backdrop of the UN Sustainable Development Goals (SDG) to launch, Bangladesh is hosting the 6th South Asian Conference on Sanitation (SACOSAN – VI) from today the 11th of January 2016 till the 13th of January 2016 at the Bangabandhu International Conference Centre (BICC). The conference being inaugurated by Mr. Abdul Hamid, Honorable President…
The proposed Colombo International Financial Centre (CIFC) will be inaugurated in April this year. Finance Minister Ravi Karunanayake said that seven international banks which are currently not in operation in the country from Middle East, Japan, Korea are planning to establish offshore branches through the CIFC. the Minister said. Along with these close to 50…
The disappointing trend continued on the fifth session of the New Year as both indices closed with negative returns. All share index shed -48.99 index points (-0.7%) to close at 6,726.28 while the S&P SL20 index lost -32.04 index points (-0.9%) to close at 3,514.41. Sri Lanka Telecom (closed at LKR 45.70, +1.8%) stood out…
It is now four days since trading of Entrust Securities PLC had been suspended at the Colombo Stock Exchange [CSE]. On 04 January the Central Bank of Sri Lanka (CBSL) took steps to hand over its management to the National Savings Bank due to several complaints on financial irregularities in the company. When Ada Derana…
The Securities and Exchange Commission of Sri Lanka (SEC) has decided to the obtain the services of former Deputy Inspector of Police in the Criminal Investigations Department, Lionel Gunatilleke as a consultant. When inquired from SEC Director (External Relations and Surveillance) Thushara Jayaratne, he said this step has been taken on behalf of the officials…
Sri Lanka’s external sector reflected a modest performance in the month of October 2015 with lower trade deficit, continued growth in tourist earnings and a moderate increase in workers’ remittances. Despite the slowdown in imports during the recent months, the cumulative trade deficit as at end October 2015 increased by 2.5 per cent mainly due…
Colombo bourse extended its losing streak for the fourth consecutive day as stocks declined across the board driving the Benchmark index and the S&P SL index both to 52 week lows of 6775.27 and 3546.45 respectively. Benchmark index decreased by -42.38 index points or -0.62%, while the 20-scrip S&P SL index shed -26.73 index points…
‘Sri Lanka Next’, a landmark campaign to take Sri Lanka towards the BlueGreen era, was formally initiated on 6th January 2016 under the aegis of President Maithripala Sirisena at the Bandaranayake Memorial International Conference Hall (BMICH). A series of strategic policy announcements and national initiatives and activities have been planned throughout the year to familiarize…
SriLankan Airlines, the first Asian airline to operate the four-engine Airbus A340 aircraft, will bid goodbye to the last of its A340s after more than two decades in service, with a final commercial flight today, (January 7, 2016). SriLankan introduced the A340 on 1st September 1994, at the time when it was the most sophisticated…
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