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Sri Lankan shares end higher; foreigners sell

Reuters – Sri Lankan shares ended slightly firmer on Wednesday led by blue-chip stocks in thin trade, while foreign selling boosted turnover with most local investors on leave ahead of the Sinhala-Tamil New Year this week, brokers said. Foreign selling accounted for 80 percent of the day’s turnover of 553 million rupees ($3.55 million), less…

(0)Comments | April 12, 2018 9:58 am

Biz Barometer Takes a Tumble

Businesspeople recoil in the face of post-poll concerns and mounting civil unrest A tumultuous period followed the recent local government (LG) elections, which saw a perceived shift in power within the government and led to uncertainty regarding how the coalition partners might proceed. The climate of uncertainty was soon exacerbated by racially motivated riots by…

(0)Comments | April 11, 2018 10:58 am

President calls for proposals to solve problems in construction field

President Maithripala Sirisena advised the Secretary for Ministry of Skills Development and Vocational Training to prepare a proposal for finding solutions to fill the shortage of workmen in construction field. The President further advised to form a special committee jointly headed by Secretaries of Ministry of Skills Development and Vocational Training and Ministry of Housing…

(0)Comments | April 11, 2018 10:56 am

Surge in Aussie visitors following launch of SriLankan Airlines direct flights Down Under

The number of visitors to Sri Lanka from Australia and New Zealand has surged following SriLankan Airlines’ commencement of daily direct services between Melbourne and Colombo, the latest statistics compiled by the Sri Lanka Tourism Development Authority show. Australia is now firmly among the top ten source markets for visitors to Sri Lanka.   SriLankan…

(0)Comments | April 11, 2018 10:55 am

Sri Lankan shares pull away from 11-week closing low

Reuters – Sri Lankan shares on Monday recovered from their lowest close in 11 weeks in thin trade ahead of the Sinhala-Tamil New Year this week, brokers said. The Colombo stock index ended 0.14 percent higher at 6,439.83, recovering from its lowest close since Jan. 23 hit in the previous session. The turnover stood at…

(0)Comments | April 11, 2018 9:53 am

APCAC elects new leadership and sets a bold agenda for U.S. business in Asia

The Asia Pacific Council of American Chambers of Commerce (APCAC) held its 50th Anniversary Board Meeting and has elected Marie Kissel as its new Chairman. Ms. Kissel is based in Tokyo and is Senior Advisor, International Government Affairs for Abbott. Ms. Kissel, a longtime American business executive in the region, succeeds Jackson Cox who has…

(0)Comments | April 10, 2018 4:35 pm

Sri Lanka targets US$ 2.5 Bn FDI this year

The highest foreign direct investment in the history of Sri Lanka has been recorded during the year 2017, according to the Finance Ministry. The foreign direct investments received by the country during 2017 is around US$ 1.9 billion (Rs. 290 billion), a four-fold increase from 2016. The first tranche of US$ 300 million granted for…

(0)Comments | April 10, 2018 3:35 pm

China’s Belt and Road initiative is a golden opportunity to national development

Sri Lanka has become one of the first countries to openly support China’s Belt and Road Initiative, since it is highly compatible with Sri Lanka’s national development strategy and a golden opportunity to develop the island nation, Chinese Ambassador to Sri Lanka Cheng Xueyuan said. Chinese Ambassador Cheng Xueyuan made these remarks in an article,…

(0)Comments | April 10, 2018 3:33 pm

More airports to promote tourism Minister pins hope on 3 mn tourists

Tourism and Christian Religious Affairs Minister John Amaratunga expressed hope that Sri Lanka could get as much as three million tourist arrivals by the end of this year. By end of March, tourist arrivals grew by 25% despite the communal clashes, which took place in several places in the country. The Minister made these comments…

(0)Comments | April 10, 2018 3:30 pm

Sri Lankan stock index hits 11-week closing low ahead of holidays

Reuters – Sri Lankan share index on Monday touched its lowest close in 11 weeks, pulled down by blue-chips stocks in a moderate turnover, as many market participants were on leave ahead of the traditional Sinhala-Tamil New Year this week, brokers said. The Colombo stock index ended 0.38 percent down at 6,431.10, its lowest close…

(0)Comments | April 10, 2018 9:39 am