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Shangri-La Hotel, Colombo Ushers In A New Era Of Tourism For Sri Lanka

Combining modern luxury and legendary hospitality with authentic Sri Lankan charm, Shangri-La Hotel, Colombo is a place where the city comes alive, and is set to become an icon for the city of Colombo Shangri-La Hotels and Resorts celebrated the opening of Shangri-La Hotel, Colombo with an inauguration ceremony that signalled the city’s most highly…

(0)Comments | November 16, 2017 3:48 pm

First Capital records profit after tax of Rs. 731Mn for the 1st half of 2017/18

First Capital Holdings PLC (the Group) recorded a profit after tax of Rs. 731Mn for the 1st half of 2017/18, a substantial increase compared to Rs. 406Mn in the corresponding period of the previous year. Total comprehensive income for the 1st half was Rs. 641Mn (2016/17 – Rs. 406Mn). The primary dealer business dominated the…

(0)Comments | November 16, 2017 1:57 pm

CSE to conduct a full day of trading from the Disaster Recovery site

The Colombo Stock Exchange (CSE) is to conduct a planned full day of trading from the Disaster Recovery site using ATS Version 7 Disaster Recovery Solution on Friday 17th November 2017. The exercise will be an industry wide activity with the participation of all stakeholders, to ensure the preparedness of all participants to meet the…

(0)Comments | November 16, 2017 12:53 pm

Vote of the Budget today at 5 pm

The vote on the second reading of the Budget proposal for fiscal year 2018 is scheduled to be taken up at 5 pm today (16th Nov.) in Parliament. Mass Media and Finance Minister Mangala Samaraweera presented the Budget proposals for the financial year 2018 last Thursday (9th Nov.). The proposals were debated for six days…

(0)Comments | November 16, 2017 10:16 am

Sri Lankan stocks hit 7-week closing low; John Keells drags

Reuters – Sri Lankan shares fell for a fifth straight session on Wednesday, posting their lowest close in seven weeks, pulled down by market heavyweight John Keells Holdings amid continued worries over 2018 budget policies. The budget imposed taxes on cash-rich telecom and banking sectors to boost revenue. The Colombo stock index ended 0.45 percent…

(0)Comments | November 16, 2017 10:15 am

Poultry producers welcome maize import liberalization; increased production, revenues, exports anticipated

The recent budget proposal to allow feed millers to import maize under a special limited quota to meet the shortfall in the local supply was hailed by poultry producers as a strongly positive measure that will support greater efficiency within the domestic industry, ultimately enabling stronger international competitiveness for Sri Lankan poultry producers in the…

(0)Comments | November 15, 2017 3:52 pm

EU GSP delivers a big plus for Lankan apparels

EU GSP Plus has delivered its most prominent success for Sri Lankan exports to-date since its announcement. “As a result of Prime Minister Ranil Wickremesinghe’s efforts on GSP Plus, our apparel exports from January to September this year has increased by 11.3% to US $ 1.67 Billion” said the Minister of Industry and Commerce of…

(0)Comments | November 15, 2017 3:24 pm

SLLRDC Officials go on​ board​ Port City dredger

A group of officials representing Sri Lanka Land Reclamation and Development Corporation​ (SLLRDC)​ made an observational tour ​on board the Jun Yang 1, Asia’s largest trailing suction hopper dredger which is ​i​n operation for Port City Colombo reclamation​, ​last week​. ​ ​The ​Team was headed by C.B. Amarasinghe, Deputy General Manager together with several other…

(0)Comments | November 15, 2017 1:26 pm

Property Demand: Galle vs. Colombo

There is little argument that both Colombo and the city of Galle are two of the most developed urban regions in Sri Lanka. What’s significantly common about these two regions is that they are not just economically developed, but they are also highly celebrated travel destinations that offers so much for locals as well as…

(0)Comments | November 15, 2017 1:25 pm

No rate volatility next year as govt. better prepared – CB

Market interest rates are unlikely to experience volatility through public debt-servicing requirements, as the Central Bank and the Sri Lankan government are better prepared to mange domestic and foreign debt next year with the planned implementation of the Liability Management Act and the buffers being built up by the state. “The liability management exercise, the…

(0)Comments | November 15, 2017 12:30 pm