Cochin International Airport closure extended until Aug. 26 SriLankan Airlines has introduced a series of measures to mitigate inconvenience to its valued passengers from the closure of Cochin International Airport due to flooding. On Thursday Cochin Airport authorities announced that they were extending the airport’s closure until 26th August. Accordingly SriLankan is offering passengers booked…
One of the country’s leading poultry industry player Bairaha Farms PLC (BFL) in their latest annual report of the company points out that import restrictions on maize and higher domestic prices of maize are causes for the increased Chicken prices in the country. “As longs as the Government has protectionist policies in place that restrict…
Recent Cabinet Decisions notes that a Hungarian firm Muszer Automatika Ltd., as per the recommendations by the Government of Hungary to Sri Lankan Government had been received the nod to install 417 Railway Level crossings with Hungarian government’s financial assistance. The Cabinet decision further outlined that there are 1,337 Railway level crossings within Sri Lanka…
Reuters – Sri Lankan shares ended marginally weaker on Thursday, marking their fifth straight session of losses, as foreign investors sold market heavyweight John Keells Holdings amid global worries. Foreign investors sold shares worth a net 474.7 million rupees ($2.96 million) on Thursday, extending the foreign outflow to a net 3.24 billion rupees worth of…
Sri Lanka’s latest Cabinet decisions revealed that Sri Lanka’s Bandaranaike International Airport (BIA) Departure Walkway in Katunayake will have 6 Currency Exchange Counters in the future. Accordingly proposal made by Nimal Siripala de Silva, the Minister of Transport and Civil Aviation, to call for bids from the financial institutions approved by the Central Bank of Sri…
Reuters – The Sri Lankan rupee hit an all-time low for a second straight session on Thursday, as importers bought dollars amid fears the local currency could depreciate further tracking weakness in emerging-market currencies, dealers said. Absence of dollar conversions by exporters and remittances also weighed on the market, they added. The rupee fell to…
Recent Cabinet decisions outlined that two Indian origin brothers Ashok Goel and Sudhir Goyel founded Gulf Petrochem FZC was awarded the procurement contracts for purchasing the refined petroleum products to Sri Lanka based on a proposal made by Arjuna Ranatunga, the Minister of Petroleum Resources Development. The Cabinet decisions noted that with a view to…
Recent Cabinet decisions informed that a digital advertising campaign has been designed to be implemented to promote Sri Lanka as an attractive destination among the tourists in the countries of United Kingdom, Germany and France. Accordingly, with a view to implementing the digital advertising campaign specific for each country under the government procurement procedure, the…
Fitch Ratings maintains a negative banking-sector outlook for Sri Lanka in 2018 as operating conditions should remain challenging, which could put mild pressure on performance during the rest of 2018 and possibly 2019. Nevertheless, the performance of Sri Lankan banks under Fitch’s coverage remained fairly stable through 2017 and 1Q18, and Fitch expects their credit…
Emirates has announced that it will suspend flights EK348 and EK349 which currently operate between Singapore (SIN) and Colombo (CMB). The decision was made after a periodic review of our operations to ensure the best utilisation of our aircraft fleet. The final day of service from Colombo to Singapore will be on 27 October 2018,…
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