Colombo stock market extended the losing streak on Tuesday as investors stayed on sidelines amid domestic and global economic concerns. Bourse continued to witness lackluster trading activity where turnover recorded another year-to-date low of LKR 341mn. All share index slashed 31.96 index points or 0.50% to close the session at 6,322.87 while 20-scrip S&P index…
China has officially issued a warning to George Soros: Beware of going to “war on the renminbi.” The message comes in a piece published in China’s People’s Daily titled “Declaring war on China’s currency? Ha ha.” People’s Daily is the Communist Party’s mouthpiece. “Soros’s war on the renminbi and the Hong Kong dollar cannot possibly…
Sri Lanka has been deservedly praised for the progress it has made since the end of the war against the separatist Tamil Tigers in 2009. The economy has grown at an average annual rate of 6.7%, and education and health statistics are impressive. All developing countries face myriad challenges, but this is especially the case…
The Prime Minister of New Zealand, John Key is reportedly to visit Sri Lanka soon, Ada Derana Biz learned. Prime Minister John Key is to visit Sri Lanka to inaugurate the model and training farm being established by Fonterra Brands Lanka which has invested Rs. 117 million into the project. On inquiry by Ada Derana…
Ranks in 14th position on the 2016 A.T. Kearney Global Services Location Index (GSLI) With many domestic and international companies investing heavily on the local IT/BPO and BPM offshoring industry thanks to its commercial attractiveness, access to skilled talent and a lucrative business environment coupled with the improving technology infrastructure, Sri Lanka now ranks in…
The International Labour Organisation (ILO) announced the addition of full Sinhala and Tamil translations of Sri Lanka’s labour laws to the Salary.lk website in an effort to improve awareness of workers’ and employers’ rights and duties. The website, which is an initiative of the WageIndicator Foundation, hosts detailed, easy-to-understand and well referenced information about Sri…
Broad money supply (M2b) continued to expand at a high rate with a year-on-year growth of 17.2 per cent in November 2015, following the growth of 17.0 per cent in the previous month. In November 2015, the net foreign assets (NFA) of the banking sector improved with the receipt of the proceeds of the International…
Colombo bourse altered its positive trend of two days on Monday with negative gains, as the benchmark index dropped by 27.41 index points (-0.43%) to close at 6,354.83. Meanwhile the S&P SL20 index tumbled by 16.70 index points (-0.50%) to close at 3,298.66. Turnover was only LKR 374mn, the lowest recorded this year. The low…
Registrations of Maruti model motorcars have reportedly dropped by 31 per cent in Sri Lanka during December 2015. While 5,631 Maruti motorcars had been registered in Sri Lanka during November 2015, this number has dropped to 3,882 in December. The highest number of Maruti registration has been during the month of September in 2015 with…
A lawyer and an immigration expert in Australia, Susantha Katugampala joins Ada Derana Biz 24X7 to raise awareness among the Sri Lankan audience regarding Australia’s immigration process. Susantha Katugampola says that when bringing in investments into Sri Lanka, efforts should be made to do so not only as borrowings but as equity as well. The…
Video Story
