Four separate Chinese delegations, representing different Chinese provinces will arrive in Sri Lanka during this week to strengthen bilateral trade and commercial ties between the two countries, says The Ceylon Chamber of Commerce. The delegations, to be facilitated by the Sri Lanka – China Business Council are expected to arrive in the country on 26,…
Fitch Ratings has withdrawn the rating on John Keells Holdings PLC (JKH). Prior to the withdrawal, JKH’s National Long-Term Rating was at ‘AA+(lka)’ with Stable Outlook. The rating has been withdrawn because there will be insufficient information to maintain the rating as the issuer will no longer be taking part in the rating process. Fitch…
The Supreme Court issued a stay order on the Gazette notification issued by the new government imposing a Rs. 200 million monthly tax on liquor and beer distilleries in Sri Lanka. Recently, the Medium Scale Distillery Employees’ Union claimed that with the new government introducing a monthly tax of Rs. 200 million on each local…
Sri Lanka’s sea foods export earnings have been reportedly hit badly due to the ban imposed by the European Union on the island’s marine products exports. According to the Central Bank of Sri Lanka’s latest data, Sri Lanka’s marine product export earnings have dropped by 23.8 per cent during January 2015. Sri Lanka earning USD…
Like many Vietnamese, the economist Le Dang Doanhturns darkly suspicious when he speaks about Chinese money. Trade and investment from Vietnam’s giant northern neighbour, says Mr. Doanh, a former top adviser to the Communist Party of Vietnam, often comes with hidden military agendas, economic subterfuge and ecological traps. A case in point, he says, was…
Odel PLC acquired 99.99 per cent of Softlogic Brands (Private) Limited for Rs. 599,995,200 from Softlogic Retail (Private) Limited and Dai-Nishi Securities (Private) Limited which are subsidiaries of Softlogic Holdings PLC. Softlogic Brands has the largest international and branded apparel and accessory portfolio in Sri Lanka and retailing 20 brands through its 41,000 sq. ft….
Emirates, a global connector of people and places, today celebrated the opening of its 37th dedicated lounge for First Class and Business Class customers as well as Platinum and Gold members of Emirates Skywards, the airline’s frequent flyer program, at Los Angeles International Airport. The Emirates Lounge at Los Angeles International Airport represents a USD6.2…
The historic coalition between the country’s two main political parties, UNP & SLFP, failed to uplift the apathetic sentiment in Colombo Bourse on Monday and the index edged lower, reversing the gains recorded in the previous session. The main share index closed at 7,042.30 with drop of 12.28 points (-0.17%) while S&P SL 20 index…
The Colombo Stock Exchange (CSE) signed an agreement with BTA Consulting (BTA) of the United Kingdom to provide Consultancy and Project Management services to set up a Clearing House which will act as a Central Counterparty (CCP) for settlement of securities, including shares, corporate debt, Government Securities and any other financial market instruments transacted in…
The leadership of the Sri Lanka Tourism Promotions Bureau has relooked its overall portfolio of markets and has strategically selected one of the key focus areas globally- Scandinavian countries, to market Sri Lanka as a destination for travel in the future. A high-powered Sri Lankan delegation took part at last week’s key travel and tourism…
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