Sri Lanka’s tea prices have gone down consecutively for the fifth month during the auctions in May this year while significant in this downward trend are the prices of low grown tea when compared to the previous year. When compared to the Colombo auctions in May 2014, a kilo of tea at the Colombo auctions…
Sri Lanka’s local borrowing through government bonds has surged, surpassing the total figure for all of last year, data showed on Friday, as the new government struggles to pass crucial tax bills announced in January to finance some populist measures. The government has borrowed 378.3 billion rupees ($2.28 billion) through treasury bills and bonds so…
Crude oil prices were volatile after ministers from the Opec cartel decided to hold production levels at 30 million barrels per day. Brent crude traded in a narrow range around $62 a barrel, before ending the day up 1.8% at $63.15. West Texas Intermediate, or light sweet crude, was similarly indecisive, falling before recovering to…
Emirates Skywards, the award winning frequent flyer programme, will celebrate its 15th anniversary this year by giving 15 lucky members the chance to win one million Skywards Miles each. Emirates Skywards Members in select markets who travel to any Emirates destination during the promotional period (29 May and 31 December 2015), and answer three multiple…
Colombo bourse wrapped the weekly operations on optimistic note despite the lackluster trading session. Main index managed to record positive gains on Friday snapping the four day losing streak where index advanced by 1.82 points or 0.03% to close at 7,122.73 . S&P SL20 index bagged 18.14 index points (+0.46%) to end at 3,963.68. Price…
The rumors being spread that Lanka Indian Oil Company (LIOC) is planning to slash its petrol sales in Sri Lanka is baseless and the company would continue supplying petrol to its fuel outlets without any shortages, said LIOC Managing Director Subodh Dakwale. While speaking to www.adaderanabiz.lk, LIOC Managing Director Subodh Dakwale said that LIOC had…
The Securities & Exchange Commission of Sri Lanka has taken steps to restrain Lanka Rating Agency Limited from providing new ratings with effect from 25 March 2015.
Global Payments Inc. (NYSE: GPN), a leading worldwide provider of payment technology services, announced today that its Sri Lankan subsidiary, Global Payments Asia Pacific Lanka Pvt Ltd. (Global Sri Lanka), has entered into an agreement with Ceylon Electricity Board (CEB), Sri Lanka’s largest electricity provider, and MasterCard to enable consumers to pay electricity bills using…
Colombo bourse witnessed a sluggish trading session on Thursday, continuing the negative momentum for the fourth consecutive day to close in red zone. The main index weakened further falling to a 6-week low of 7,120.91 with a drop of 28.55 index points or -0.40% while 20-script S&P SL20 index dropped by 15.48 points (-0.39%) to…
A ban on casinos by Sri Lanka’s new government isn’t stopping the nation’s biggest conglomerate from pressing ahead with a $850 million development project as the island rebuilds from a 30-year civil war. Lenders are fully committed to John Keells Holdings Plc.’s Waterfront Properties mixed development project in Colombo though the absence of a casino…
Video Story
