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Sri Lankan shares hit near 6-week closing high; turnover slumps to 4-year low

Reuters – Sri Lankan shares rose slightly on Monday and posted their highest close in nearly six weeks in light trade, as many market participants were on extended holidays after the Sinhala-Tamil New Year festival over the weekend, brokers said. Turnover was 101.9 million rupees ($653,833.81), the lowest since March 17, 2014, and less than…

(0)Comments | April 17, 2018 9:33 am

CSE reports the ‘Lowest Daily Turnover’ in 4 years

Colombo Stock Exchange reported the lowest Daily Turnover in the latest history today which was merely a Rs. 101.94 million with little over 7 million shares changing hands among traders as at the end of the trading day on 16th April 2018. This is recorded to be the lowest daily turnover ever reported in last 4…

(0)Comments | April 16, 2018 4:08 pm

CBSL currency intervention tops US $ 284 Mn by March 2018 to control Rupee

Rupee down by over 16% against US Dollar from December 2014 Levels Central Bank of Sri Lanka (CBSL) had purchased over US $ 284 million on a net basis up to March 6, 2018, from the domestic foreign exchange market to control the rupee depreciation, amidst a 2% depreciation against the dollar during the year…

(0)Comments | April 16, 2018 1:45 pm

Sri Lanka’s Insurance sector eyed by Foreign Investors

Despite Sri Lanka being positioned in a key Strategic Location in the Indian Ocean being a market that has wider access to over 4.5 billion people in Asia including China, India, Bangladesh, Indonesia, Pakistan, the largest multinational insurance firms view the country as a potential market for both general and life insurance, key analysts from…

(0)Comments | April 16, 2018 12:51 pm

SriLankan achieves highest ever revenue in history

SriLankan Airlines has achieved a record un-audited annual passenger revenue of Rs. 126.9 billion (US Dollars 830.7 million) for its just ended financial year of 2017/18 – the highest ever in the Company’s 38-year history. The revenue comes on the back of recent expansion of the airline to include services to several new destinations such…

(0)Comments | April 16, 2018 9:17 am

Enhancing Cultural and Tourism Cooperation with Africa: SL discusses with UNESCO

Ambassador of Sri Lanka to Ethiopia and Permanent Representative to the African Union, Sumith Dassanayake recently met with Dr. (Ms.) Yumiko Yokozeki, Director of the United Nations Educational, Scientific and Cultural Organization (UNESCO) for Africa at the UNESCO office in Addis Ababa. The discussion centered on enhancing cultural and tourism cooperation between Sri Lanka and…

(0)Comments | April 15, 2018 2:47 pm

SL to take action against money laundering and terrorism financing

Speaking of the recent measures taken against money laundering and terrorism financing, the State Minister of Finance Eran Wickramaratne categorically denied the claims, that the government mulls amending companies act to send the details of persons having 25 % of the shares in Public Limited Companies to CID to inquire on money laundering acts. It…

(0)Comments | April 14, 2018 12:43 pm

Chinese firm to invest $800 million on Sri Lanka Port City underground road

China Communication Construction Company (CCCC) will invest $800 million to build an underground road network to Sri Lanka’s Port City, a $1.4 billion project built on reclaimed land, a government minister said. The plan, for which an agreement has already been signed, is expected to reduce traffic congestion on the existing route once the Port…

(0)Comments | April 13, 2018 9:40 am

The Democratic Socialist Republic of Sri Lanka – US Dollars 2.5 billion International Sovereign Bond Offering

On April 11th 2018, the Central Bank of Sri Lanka (“CBSL”), on behalf of the Democratic Socialist Republic of Sri Lanka (“Sri Lanka”), marked its return to the US dollar bond markets with a successful issuance of new US dollars 1.25 billion 5-year and US dollars 1.25 billion 10-year Senior Unsecured Fixed Rate Notes (the “Notes”) with maturity…

(0)Comments | April 13, 2018 8:37 am

Sri Lankan shares hit near 4-wk closing high in thin trade ahead of holidays

Reuters – Sri Lankan shares on Thursday rose to a near four-week closing high led by financials amid lean trading ahead of the Sinhala-Tamil New Year this week, brokers said. Markets will be closed for a public holiday on Friday on account of the New Year. The Colombo stock index ended 0.51 percent higher at…

(0)Comments | April 13, 2018 7:36 am