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Sri Lankan shares edge lower to 5-week closing low

Reuters – Sri Lankan shares edged lower in thin trade on Tuesday and posted their lowest close in nearly five weeks, as lacklustre corporate results dented investor sentiment for the island nation’s risky assets, stockbrokers said. The Colombo stock index fell 0.26 percent to 6,113.00, its lowest close since July 11 and third straight session…

(0)Comments | August 15, 2018 10:12 am

Sri Lanka Police Chief says Tourist Police should learn Chinese, Hindi and French

Sri Lanka’s Inspector General of Police (IGP) Pujith Jayasundara on Monday (August 13) had told Tourist Police officials that they should learn Chinese, Hindi and French in addition to English. The Police Chief Jayasundara’s comments had arisen at a time when the tourism sector in Sri Lanka is expected to become the largest foreign exchange…

(0)Comments | August 15, 2018 10:10 am

Sri Lankan rupee hits near-record low on Indian currency’s weakness

Reuters – The Sri Lankan rupee hit a near-record low on Tuesday on weakness in emerging-market currencies including the Indian rupee, and importer dollar demand, dealers said. The rupee, which fell to a low of 160.15 per dollar in intraday trade, closed at 160.10/25, compared with Monday’s close of 160.00/10. It hit a record low…

(0)Comments | August 15, 2018 10:07 am

SL-US private equity JV terminated due to ‘unfavorable investment environment’

Sri Lanka’s Guardian Capital Partners PLC and US-based Small Enterprises Assistance Funds have decided to terminate their Joint Venture Agreement seeking to establish a company to manage and invest in private equity projects in Sri Lanka. Guardian Capital Partners PLC (WAPO) had entered into a Joint Venture Agreement with Small Enterprises Assistance Funds (SEAF), a…

(0)Comments | August 14, 2018 5:12 pm

Alumex PLC Opens Sri Lanka’s First Fully Automated Aluminium Extrusion Plant & South Asia’s First Vertical Powder Coating Facility in Ekala

Aluminium extrusions producer, Alumex, recently unveiled the Country’ first fully automated, front-loading aluminium extrusion plant and South Asia’s first vertical powder coating facility with patented SAT Travisan CUBE Technology in Ekala, Ja-Ela. The LKR. 2 billion mega project—located at No. 138/ 4, Minuwangoda Road—will officially make Alumex PLC the largest aluminium extruder in Sri Lanka…

(0)Comments | August 14, 2018 5:03 pm

Dialog recognized as Sri Lanka’s fastest mobile network

Speedtest® Award by Ookla® confirms Dialog fastest in Sri Lanka   Sri Lanka’s premier connectivity provider, Dialog Axiata PLC, has been conferred the 2018 Speedtest® Award by Ookla®, the global leader in mobile network testing applications, data and analysis. The Speedtest reflects network speed figures tested by Sri Lankans across the country, and further reiterates…

(0)Comments | August 14, 2018 4:35 pm

CSE hosts knowledge sharing workshop for delegation from Nepal

A capital market delegation comprising of representatives from the Nepal Stock Exchange (NEPSE) and 36 Stockbroker firms from Nepal recently visited Sri Lanka for a two-day knowledge sharing workshop hosted by the Colombo Stock Exchange (CSE). The visit saw the delegation participate in sessions on trading infrastructure, capital market regulation, clearing & settlement and other…

(0)Comments | August 14, 2018 3:31 pm

Ceylinco Life’s Sepalika Panagoda re-appointed Country Chair of MDRT

Mrs. Sepalika Panagoda a Financial Advisor of Ceylinco Life, has been appointed Country Chair of the Million Dollar Round Table (MDRT), the world’s premier association of financial professionals, for the fourth time.   A qualifying member of MDRT since 2008, Mrs. Panagoda was previously appointed as Country Chair of the Association for three consecutive years…

(0)Comments | August 14, 2018 3:30 pm

Sri Lankan shares end marginally lower; John Keells down over 2 pct

Reuters – Sri Lankan shares edged lower for a second straight session on Monday, led by market heavyweight John Keells Holdings, as the absence of any positive triggers dampened appetite for the island nation’s risky assets. The Colombo stock index fell 0.21 percent to 6,128.82 points, moving further away from its highest close since July…

(0)Comments | August 14, 2018 6:39 am

Janashakthi Life delivers steady growth through 1H 2018

Leading Sri Lankan Life Insurer Janashakthi Insurance PLC (Janashakthi) reported a 6% year on year (YoY) growth in Gross Written Premium (GWP) for the six months ended 30th June 2018, ending the period under review with premiums of Rs.1.445 billion. Continuing to honour its commitment to policyholders, Janashakthi saw claims grow by 12% YoY, from…

(0)Comments | August 14, 2018 6:29 am