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Millionaires Now Control Half of the World’s Personal Wealth

Bloomberg – The rich are getting a lot richer and doing so a lot faster. Personal wealth around the globe reached $201.9 trillion last year, a 12 percent gain from 2016 and the strongest annual pace in the past five years, Boston Consulting Group said in a report released Thursday. Booming equity markets swelled fortunes, and investors outside the…

(0)Comments | June 15, 2018 5:13 pm

Openet Expands Policy and Charging Solution for SLT with VoLTE

Ireland’s Dublin based telecom sector software vendor Openet that markets products used by telecommunications service providers to commercialize and analyze activity on their network through processing customers’ data, late May 2018 had announced that Sri Lanka Telecom (SLT), Sri Lanka’ ‘s state owned telecom operator, is extending their Openet Policy and Charging solution to support…

(0)Comments | June 15, 2018 1:40 pm

Nihal Hettiarachchi & Company Hosts HLB International Asia Pacific Regional Conference Delegates

Nihal Hettiarachchi and Company, a leading Chartered Accountants’ firm, in affiliation with HLB International, London, hosted the “HLB International Asia Pacific Regional Conference” under the theme “Excellence through Unity”. It is held from 14th to 17th June 2018 at Shangri-la Hotel, Colombo. The delegates were given a preview of Sri Lankan culture through dance acts…

(0)Comments | June 15, 2018 11:10 am

MCC grants additional $2.6 mn for compact development

The U.S. Government’s Millennium Challenge Corporation (MCC) Managing Director for Europe, Asia, Pacific, and Latin America Caroline Nguyen visited Sri Lanka from June 11 to 13 to advance the development of the proposed MCC compact a large-scale five-year grant program. The U.S. government is developing this compact in partnership with the Government of Sri Lanka…

(0)Comments | June 15, 2018 10:52 am

All in one boat

Sri Lanka’s footprint in global boats and shipping sector may be smaller, but Lankan exports in it continue to surge in strong numbers. As a result Sri Lanka is ambitiously positioning for $200 Mn boats and shipping exports by 2022. “Global ship and boat building industry has slowed down with less and less demand Due…

(0)Comments | June 15, 2018 10:20 am

Sri Lankan stocks end lower for 7th straight session

Reuters – Sri Lankan shares closed lower for a seventh straight session on Thursday, with turnover slumping to a more than three-week low, as investors sold diversified shares. The Colombo stock index ended 0.17 percent weaker at 6,337.88, its lowest close since Dec. 22. The index dropped 0.4 percent during the week, marking its fourth…

(0)Comments | June 15, 2018 10:13 am

Constituent Changes to the S&P Sri Lanka 20 Index

The Colombo Stock Exchange (CSE) announces the following changes in S&P Sri Lanka 20 index constituents made by S&P Dow Jones Indices at the 2018 mid‐year index rebalance. A revision of the S&P SL 20 methodology in March 2017 established the practice of a semiannual rebalance of the index (previously conducted annually). The rebalance of…

(0)Comments | June 14, 2018 6:00 pm

Fitch: Capital Regs to Raise Resilience of Sri Lanka Finance Cos

Fitch Ratings-Colombo/Singapore-14 June 2018: New capital-adequacy regulations for Sri Lankan finance companies are likely to improve the resilience of the sector to economic shocks, but will add to capitalisation pressures – particularly for the country’s numerous small-scale finance companies, says Fitch Ratings. Fitch-rated finance companies are unlikely to face immediate rating action, as we believe…

(0)Comments | June 14, 2018 5:12 pm

Taprobane Group retiled to Ambeon

Taprobane Holdings repositioned as Ambeon Capital PLC and Lanka Century Investments as Ambeon Holdings PLC The group is now restructured, repositioned and future ready to re-engineer success across all its businesses In a strategic move to reposition the entity to represent the Group’s business vision and take on the dynamic, technocentric business world of tomorrow,…

(0)Comments | June 14, 2018 10:22 am

Meet the New Zealand Trade Commissioner for Sri Lanka – Ralph Hays

The Sri Lanka-Australia-New Zealand Business Council of the Ceylon Chamber of Commerce has convened a Networking session on Tuesday 19th June at Mövenpick Hotel Colombo, with the New Zealand Trade Commissioner and his team to coincide with the Sri Lanka Investment and Business Conclave 2018. Ralph has been with NZTE for 7 years and during…

(0)Comments | June 14, 2018 9:26 am