Minister of Finance Mangala Samaraweera is representing Sri Lanka at the UN Economic and Social Council (ECOSOC) Forum on Financing for Development (FfD) convened by the President of ECOSOC, Inga Rhonda King, at the latter’s invitation. Participating in the Ministerial Financial Dialogue Panel Discussion on ‘Promoting Inclusive Growth Reducing Inequalities’ on 15 April, the Minister…
Sri Lanka’s trade deficit had continued its improving trend observed in recent months recording US $ 617 million during the month of January 2019, latest external sector data showed. The data noted that it is improving compared to a deficit of US $ 701 million in December 2018, and US $ 1,049 million in January…
Reuters – The Sri Lankan rupee closed a tad firmer on Wednesday helped by banks’ dollar sales, while stocks ended marginally higher for the third straight day in thin trade. ** Many investors were on holiday in a three-day week due to two long weekends. Both Monday and Friday in this week are public holidays….
The Saudi Arabian government has agreed to provide a concessional loan of 187.5 Million Saudi Riyal (SAR) for a project to establish a fully equipped Faculty of Medicine in the Sabaragamuwa University at Ratnapura. This Project is to be launched with the aim of constructing the essentially needed infrastructure facilities and to provide the students…
MUMBAI/NEW DELHI (Reuters) – Embattled Jet Airways said on Wednesday it was halting all flight operations after its lenders rejected its plea for emergency funds, potentially bringing the curtains down on what was once India’s largest private airline. The carrier, saddled with roughly $1.2 billion of bank debt, has been teetering for weeks after failing…
Sri Lankan Billionaire Nahil Wijesuriya controlled East West Properties owned Weligama Hotel Properties Limited (WHPL) is being sold to Singapore’s Hotel Properties Limited (HPL) founded by Singaporean billionaire businessman Dato’ Ong Beng Seng for US $ 22.62 million, with the Central Bank managed Employees’ Provident Fund (EPF) signing the deal, recent disclosure to Singapore Stock…
Reuters – The Sri Lankan rupee closed tad weaker on Tuesday, while stocks ended tad firmer in thin trade after a long weekend. ** The currency ended at 174.60/75 to the dollar, lower than Friday’s close of 174.45/55. The markets were closed on Monday for a public holiday in lieu of traditional new year that…
Yahoo Finance UK – French billionaire François-Henri Pinault and his family said on Monday evening that they will donate €100m (£86.3m, $113m) to rebuild the historic landmark Notre Dame Cathedral in Paris, France, after it was ravaged by a fire yesterday. Soon after, French billionaire Bernard Arnault and his luxury goods group LVMH (MC.PA) pledged €200m towards the…
This comes a day after the carrier had suspended its operations in SAARC and ASEAN regions indefinitely Jet Airways Monday said its services on overseas routes will remain grounded until April 18, even as the lenders failed to take a call on extending an emergency funding to the airline. In an internal communication, chief executive…
Investors’ appetite for impact investing—in which they seek to generate positive impact for society alongside strong financial returns—could be as much as $26 trillion, according to a new report issued by IFC, a member of the World Bank Group. The report, Creating Impact: The Promise of Impact Investing, is the most comprehensive assessment so far…
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