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Sri Lankan shares fall on profit-taking; cues from new finmin awaited

Reuters – Sri Lankan shares fell for a second straight session and hit a near one-week low on Tuesday on profit-taking, while investors cautiously awaited policy direction from the country’s new finance minister. President Maithripala Sirisena switched the finance and foreign ministers in a cabinet reshuffle on Monday, in a bid to restore confidence in…

(0)Comments | May 24, 2017 10:44 am

Leading Machinery Manufacturer and Distributor Alcobronz Acquired By Nawaloka Holdings

Nawaloka Holdings, a diversified conglomerate in Sri Lanka recently acquired the leading machinery Manufacturer, Importer and Distributor Alcobronz (Pvt) Limited. With over 40 years of experience in the Woodworks, Metalworks, Dust Management Systems and Aerospace Industries, Alcobronz is one of the largest manufacturers and distributors of machinery in the island.   Speaking on the acquisition…

(0)Comments | May 24, 2017 10:40 am

Investors and Business partners from over 20 countries to take part in ‘Sri Lanka Investment Conclave’

The upcoming Sri Lanka Investment and Business Conclave 2017 ‘ has seen interest from investors and business partners from over 20 countries, who are looking for opportunities in diverse sectors of the local economy. Accordingly,  Investors / Business partners from countries such as Australia, Belgium, Botswana, China, Germany, India, Japan , New Zealand, Netherlands, Nigeria,…

(0)Comments | May 23, 2017 1:13 pm

Inflation in April 2017

Inflation, as measured by the change in the National Consumer Price Index (NCPI) (2013=100), which is compiled by the Department of Census and Statistics (DCS), decelerated to 8.4 per cent in April 2017 from 8.6 per cent in March 2017, on year-on-year basis. Both Food and Non-food categories contributed towards the year-on-year inflation in April…

(0)Comments | May 23, 2017 12:24 pm

Sri Lankan shares fall on profit-taking in blue chips

Reuters – Sri Lankan shares edged down on Monday as investors booked profits in blue chips such as John Keells Holdings Plc, with analysts saying the market was waiting for policy direction from newly-appointed finance minister Mangala Samaraweera. President Maithripala Sirisena switched the finance and foreign ministers in a cabinet reshuffle on Monday, in a…

(0)Comments | May 23, 2017 10:48 am

Envisioning the future of Port City Colombo

The world’s top design firms compete to redefine urban plans for Port City Colombo’s Financial District and the Marina   The International Urban Design Idea Competition, an effort conceived and initiated by CHEC Port City Colombo (Private) Ltd under the sanction of International Union of Architects (UIA) concluded successfully, with enticing innovative and sustainable urban…

(0)Comments | May 22, 2017 1:37 pm

India should remove non-trade barriers on Sri Lankan products: Official

India should remove non-tariff barriers on Sri Lankan imports and the proposed Economic and Technology Cooperation Agreement between the two nations should be implemented in phases, said a top official of the National Chamber of Exporters (NCE) of Sri Lanka. President of NCE of Sri Lanka Ramal G. Jasinghe said Sri Lanka was open for…

(0)Comments | May 22, 2017 1:10 pm

Sri Lanka president switches foreign, finance ministers in reshuffle

Reuters – Sri Lankan President Maithripala Sirisena switched the foreign and finance ministers in a major cabinet reshuffle on Monday. Managala Samaraweera, who has been foreign minister since January 2015, was appointed as finance and media minister. He swaps roles with Ravi Karunanayake, who takes over at external affairs, Sirisena’s spokesman Dharmasri Ekanayake told Reuters….

(0)Comments | May 22, 2017 10:36 am

Janashakthi records Double Digit Growth in Premiums in Q1 2017

Janashakthi Insurance PLC (Janashakthi) reported a 14% Year on Year (YoY) growth in consolidated Gross Written Premium (GWP) which stood at Rs.3.789 billion for the three month period ended 31st March 2017, with Life and Non-Life businesses registering a GWP growth of 16% and 14% respectively. The Insurer further recorded a consolidated Profit After Tax…

(0)Comments | May 21, 2017 10:36 am

First Capital records Rs. 231 Mn PAT 2016/17

First Capital Holdings PLC, a full service investment bank providing a diverse range of advisory services and financial products through its subsidiaries, (First Capital Group) reported a consolidated profit after tax of Rs. 231Mn for the year 2016/17 compared to Rs. 47Mn in the previous year. The Group’s primary dealer arm, First Capital Treasuries PLC,…

(0)Comments | May 19, 2017 5:42 pm