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Sri Lanka rupee ends weaker on stock-related outflows

Reuters – ** Sri Lanka’s rupee ended weaker on Tuesday, as banks bought dollars to facilitate stock-related outflows and importer greenback demand, market sources said. ** The stock market closed down as foreign investors continued selling for the second straight session on Tuesday. ** The rupee closed at 178.30/40 per dollar, compared with Monday’s close…

(0)Comments | February 13, 2019 7:17 am

Sri Lankan Engineer Creates Electric Conversion Kits For Auto Rickshaws, Wins $10,000 From UN

IndiaTimes – Global warming, air pollution and other such environmental anomalies are not news to many around the world. Yet, it is seldom that anyone takes the responsibility of tackling these issues on their own. Sasiranga De Silva, a 33-year-old engineer from Sri Lanka is one such personality, and his efforts have most recently been…

(0)Comments | February 12, 2019 2:53 pm

SriLankan Engineering successfully completes first C-check on A320neo aircraft

SriLankan Engineering, the aircraft Maintenance-Repair-Overhaul (MRO) arm of Sri Lanka’s national carrier, achieved another milestone when it successfully carried out its first C-check on an Airbus A320neo aircraft of the SriLankan Airlines fleet at its main hub at Colombo’s Bandaranaike International Airport (BIA).   Vipula Gunatilleka, Chief Executive Officer of SriLankan Airlines, said: “The highly…

(0)Comments | February 12, 2019 2:46 pm

Horana Export Processing Zone Contributes US$ 31.8 Mn In Export Revenue

The BOI’s Horana Export Processing Zone contributed US$ 31.8 Mn (Rs.5, 796.7 Mn) in export revenue as at end of 2018. Horana Export Processing Zone is located in the Kalutara District in the Western province. It is located 80 Km away from Bandaranayake International Airport, 55 Km from Colombo Port and only 18 Km to…

(0)Comments | February 12, 2019 11:39 am

International Partnership with British Company to Manufacture Disposable Medical Devices in Sri Lanka signed with BOI

A leading UK manufacturer has gained BOI approvals to begin laying the foundation for its newest state of the art manufacturing facility in Sri Lanka. Flexicare (Group) Limited is a UK headquarted manufacturer and supplier of medical devices, with subsidiaries in over 12 countries and 2 manufacturing sites, providing disposable medical consumables to over 110…

(0)Comments | February 12, 2019 11:31 am

Strong sectoral contributions drive Hayleys third quarter PBT to Rs. 1.7 bn

Iconic Sri Lankan multinational, Hayleys PLC, recorded a strong all-round performance in the third quarter of 2018 (3Q18), as the Group turnover rose by 20% Year-on-Year( YoY) to Rs. 59.7 bn, resulting in a sharp 80% YoY increase in Group’s Earnings Before Interest, Tax, Depreciation and Amortisation ( EBITDA) toRs. 9 bn for the quarter…

(0)Comments | February 12, 2019 11:25 am

Sri Lanka’s Central Bank clarifies on ETI Deal to general public

Central Bank says awaiting to receive balance US $ 16 Mn out of US $ 75 Mn from ETI’s investors, further clarifies on sale of ETI related companies and assets Sri Lanka’s financial market regulator in a statement released to general public on yesterday (11th February) said that some misinformation is circulating pertaining to ETI Finance Ltd…

(0)Comments | February 12, 2019 10:10 am

Sri Lanka rupee ends higher as exporters, foreign banks sell dollar

Reuters – ** Sri Lanka’s rupee ended a tad higher on Monday, as exporters and foreign banks sold dollars, amid government securities’ purchase by foreign investors, market sources said. ** The stock market, however, closed slightly weaker, while foreign trading boosted the turnover. ** The bond market saw inflows of 11.4 billion rupees in the…

(0)Comments | February 12, 2019 10:07 am

Sri Lanka and Russia Discussing Mi-17 Helicopters Deal for UN Missions – Report

Sri Lanka is negotiating with Russia the purchase of a new batch of Russian Mi-17 helicopters, which the country will use in UN peacekeeping missions, Sri Lankan Ambassador to Russia Dayan Jayatilleka had told Sputnik News on Sunday, international reports noted recently.   “There is a commission that discusses the purchase of Mi-17 helicopters,” Jayatilleka…

(0)Comments | February 11, 2019 3:39 pm

SLIM Nielsen Peoples’ Awards – where the choices of the people are all that matter

Interview with the President and Vice President of SLIM Following the announcement of the launch of the SLIM Nielsen Peoples’ Awards program for the 13th consecutive year, the President of SLIM, Mr. Pradeep Edward and the Vice President, Mr. Roshan Fernando shared with us the history, purpose and process of the only awards campaign in…

(0)Comments | February 11, 2019 2:57 pm