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Sri Lankan stocks near 6-month closing low on foreign selling

Reuters – Sri Lankan shares ended lower for a sixth straight session on Wednesday to hit their lowest closing in nearly six months, as foreign investors sold banking shares such as Commercial Bank of Ceylon Plc. The Colombo stock index ended 0.17 percent weaker at 6,337.88, its lowest close since Dec. 22. The index dropped…

(0)Comments | June 14, 2018 6:24 am

Sri Lankan rupee ends weaker in dull trade

Reuters – The Sri Lankan rupee closed slightly lower in thin trade on Wednesday, hovering near an all-time low hit earlier this week, as importer dollar demand surpassed mild selling of the greenback by banks, dealers said. The spot rupee ended at 159.65/80 per dollar on Wednesday, lower than Tuesday’s close of 159.50/70. It hit…

(0)Comments | June 14, 2018 5:22 am

Sri Lanka – Finland sign 5 MoUs on Education, Digitization, Health and Energy

Five Memorandums of Understanding (MoUs) on education, digitization, health and energy were signed on 12th June 2018 between the Sri Lankan Government and the Finish government along with private sectors of the two countries.  The MoUs were signed on the sidelines of a visit by Finnish Economic Affairs and Development Deputy Minister Petri Peltonen and a Finnish…

(0)Comments | June 13, 2018 5:46 pm

Sri Lanka’s SOBEs Assets top 56% of GDP, key 16 reports 87 Bn loss in 2017

Whilst Sri Lanka’s State Owned Business Enterprises (SOBEs) continue to play a significant role in the country’s economy with its presence in key sectors such as Ports, Energy, Banking, Insurance, Water,…etc, and the total asset base of SOBEs had grown by 13.6 percent in 2017 over 2016. And it accounted for almost 56.8 percent of…

(0)Comments | June 13, 2018 4:56 pm

Sri Lanka External Debt to increase by US $ 3.8 Bn by 2019 – Global Finance Report

The US State Department projects that Sri Lanka’s external debt will increase by US$3.8 billion in 2019, amidst High government debt, low debt affordability and huge external payment obligations coming due pose strong challenges for Sri Lanka’s economy, a recent report by the Global Finance Magazine highlights. The reports states that the situation has become…

(0)Comments | June 13, 2018 4:24 pm

Sri Lankan industrialists off to Myanmar for the first time as part of $3 Bn rubber exports target

Sri Lanka is sending 20 industrialists from ten manufacturers to this week’s global exposition in Myanmar or the first time as part of the country’s revived efforts to hit $3 Bn in rubber exports. “This is the first time that the Industry Ministry is actively moving towards national export development work” said the Minister of…

(0)Comments | June 13, 2018 3:23 pm

Toyota Lanka Unveils the Latest SUV that’s taking Asia by Storm

Drive Confident with the Toyota “Rush” Toyota Lanka (Private) Limited, the sole authorized distributor for Toyota vehicles in Sri Lanka today unveiled the latest Toyota SUV that has been taking the Asian vehicle market by storm. The all-new Toyota “Rush” is a plush 7-seater SUV that embodies the adrenaline rush of driving a vehicle that…

(0)Comments | June 13, 2018 1:53 pm

Sampath Bank Engages Sri Lankan Enterprises on Doing Business in Myanmar

With a growing interest in the Myanmar market amongst Sri Lankan businesses, Sampath Bank PLC hosted an informative seminar on doing business in Myanmar at the Cinnamon Grand Colombo, recently. His Excellency Hon. Han Thu, Ambassador of the Republic of the Union of Myanmar to Sri Lanka was the chief guest of the event. Delivering the…

(0)Comments | June 13, 2018 12:35 pm

eChannelling Partners ICTA to provide doctor channeling for government hospital patients

eChannelling PLC, the largest Doctor Channeling Network in Sri Lanka, along with Mobitel, and the Information and Communication Technology Agency of Sri Lanka (ICTA) have embarked on a national endeavour – “eChannelling for Government Hospitals” – as a service provider for OPD time reservation at government hospitals. This project is carried out under the guidance…

(0)Comments | June 13, 2018 11:48 am

Sri Lankan stocks hit near 6-month closing low

Reuters – Sri Lankan shares fell for a fifth straight session on Tuesday to hit their lowest closing level in nearly six months, as investors sold telecom and diversified shares. The Colombo stock index ended 0.06 percent weaker at 6,348.53, its lowest close since Dec. 22. The index fell 0.7 percent last week, its third…

(0)Comments | June 13, 2018 8:06 am