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U.S. and Sri Lankan Film Professionals Identify Ways to Expand Sri Lankan Movie Industry

U.S. experts joined four Sri Lankan film professionals in a panel discussion about how effective film distribution benefits Sri Lanka’s movie industry, artists, and audiences on March 30 at Hatch, a workplace for entrepreneurs. Speaking at the event, U.S. Ambassador Alaina B. Teplitz said. “One of our core beliefs is freedom of speech, and movies…

(0)Comments | April 18, 2019 12:52 pm

Nippon Paint to buy Australia’s DuluxGroup for $2.7bn

Largest Japan deal in Australia since $4.9bn takeover of logistics group Toll in 2015 The Financial Times – Nippon Paint has struck a deal to buy Australian paint and coatings maker DuluxGroup for A$3.8bn ($2.7bn) as the Japanese company seeks to reduce its reliance on the volatile Chinese market. The deal would be Japan’s biggest in…

(0)Comments | April 18, 2019 10:23 am

Berendina awarded country’s first micro-financing license from CBSL

Berendina Micro Investments Company (BMIC), the micro-finance arm of Berendina in Sri Lanka was recently granted a license to operate micro-financing by the Central Bank of Sri Lanka (CBSL), a first in the industry under the Microfinance Act No 6 of 2016. BMIC now will adhere to CBSL’s guidelines as a licensed microfinance company. The…

(0)Comments | April 18, 2019 10:17 am

Finance Minister Mangala Samaraweera shares Sri Lanka’s experience in inclusive growth at Ministerial Financial Dialogue at the UN ECOSOC Financing for Development Forum in New York

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…

(0)Comments | April 18, 2019 10:10 am

Trade deficit continues to improve, US $ 617 Mn in January 2019, Rupee appreciated by 4.6% in 2019

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…

(0)Comments | April 18, 2019 10:08 am

Sri Lanka rupee edges higher; stocks rise for third session

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….

(0)Comments | April 18, 2019 9:55 am

Saudi Arabia to provide 187.5 Million Riyal for a fully equipped medical faculty at the Sabaragamuwa University

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…

(0)Comments | April 18, 2019 9:40 am

India’s Jet Airways suspends operations after banks reject plea for emergency funds

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…

(0)Comments | April 18, 2019 8:57 am

Sri Lankan Billionaire Nahil Wijesuriya to sell Weligama Marriott to Singapore’s 10th Richest Billionaire Dato’ Ong Beng Seng

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…

(0)Comments | April 17, 2019 6:42 am

Sri Lanka rupee edges down; stocks end tad firmer

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…

(0)Comments | April 17, 2019 6:34 am