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SIERRA CABLES PLC’s credit rating upgraded to AA- (stable outlook) by Fitch rating and continues superior financial performance into the third quarter

Following the recalibration of the Sri Lankan National rating scale by Fitch Ratings, the most transparent credit rating agency, Sierra Cables PLC has had its rating revised upward to AA-(lka): Outlook stable from the previous BB (lka): Outlook negative. The company realized a profit of Rs.217 million for the 9 months ended 2020, a 36%…

(0)Comments | January 20, 2021 9:16 am

ASPI drops by 113.69 points after reaching all-time high 

The benchmark All share Price Index (ASPI), which reached an all-time high of 7,922.66 points yesterday (18), overtaking the previous best of 7,811 points set on 14 February 2011, plunged by 113.69 points today (19) to close at 7,808.97, re-affirming Newton’s third law of motion, “every action, there is an equal and opposite reaction.” This…

(0)Comments | January 19, 2021 6:20 pm

Sri Lanka’s GDP growth to ‘strongly rebound’ in 2021

Sri Lanka’s economic growth is expected to ‘strongly rebound’ in 2021 with a growth of around 5%- 6%, Central Bank Governor Deshamanya Prof. W.D. Lakshman said. “The Government and the Central Bank are also continuing discussions with bilateral and multilateral partners, internationally and locally, and we are confident the Sri Lankan economy will continue to display…

(0)Comments | January 19, 2021 2:23 pm

Tariff concession for Mongolia

The Cabinet of Ministers has approved the proposal presented by the Minister of Trade for awarding tariff concession as well as conduct discussions with Mongolia for identifying tariff concessions that be mutually agreed upon between the two parties, the state information office said. Mongolia has been officially appointed a stakeholder of Asia Pacific Trade Accord (APTA)…

(0)Comments | January 19, 2021 1:00 pm

Prime Minister applauds strong stock market performance

Prime Minster Mahinda Rajapaksa yesterday (18) hailed the record-breaking performance of the Colombo Stock Exchange (CSE).  In a Twitter message, premier thanked the investors for having faith in Sri Lankan companies and added that the Government is committed to fulfill its mandate to revive the economy. The All Share Price Index at CSE reached its highest…

(0)Comments | January 19, 2021 10:23 am

French Ambassador visits Colombo Dockyard

Ambassador of France to Sri Lanka and the Maldives Eric Lavertu, Secretary to the State Ministry of Warehouse Facilities, Container Yards, Port Supply Facilities and Boats and Shipping Industry Development D.D. Matharaarachchi and Embassy of France Economic Counsellor Jean-Alexandre Egea paid a courtesy visit to Colombo Dockyard PLC (CDPLC) recently.  The Ambassador undertook this visit…

(0)Comments | January 19, 2021 9:24 am

CB keeps policy rates unchanged

The Monetary Board of the Central Bank of Sri Lanka, at its meeting held on 18 January 2021, decided to maintain the Standing Deposit Facility Rate (SDFR) and the Standing Lending Facility Rate (SLFR) of the Central Bank at their current levels of 4.50 per cent and 5.50 per cent, respectively. The Board arrived at…

(0)Comments | January 19, 2021 7:32 am

CSE’s ASPI sets new all-time high – among the best performing indices globally

The All Share Price Index (ASPI) of the Colombo Stock Exchange reached its all-time high index tally today closing the 10th trading day of 2021 on 7922.66 points. The previous highest points figure recorded was 7811.80 points on 14 February 2011. The ASPI gained 188.09 points today recording the eighth highest points gain in CSE’s 35…

(0)Comments | January 18, 2021 4:46 pm

CSE’s ASPI reaches all- time high

The benchmark All share Price Index (ASPI) hit an all-time high of 7,922.66 points today (18) , surpassing the previous record of 7,811.80 points on 14 February 2011.  The ASPI surged 188.09 points (or 0.2.43%) to close at 7,922.66. The day’s trading recorded a turnover of Rs.12.1 billion. Here, Expolanka (Rs.1.55 billion), Browns Investments (Rs.1.35 billion) and LOLC Holdings (Rs.1.31 billion) made significant contributions…

(0)Comments | January 18, 2021 3:29 pm

Sri Lanka to commence charter flights to Myanmar from mid-2021

Sri Lanka can commence charter flights to Myanmar from mid-2021, in the post COVID-19 phase, SriLankan Airlines Regional Manager (Southeast Asia) Mohan Meegolla said at a meeting organized by the Foreign Ministry.  The meeting was chaired by the Foreign Secretary Admiral Prof, Jayanath Colombage, to discuss the possibility of establishing air connectivity with Myanmar. Participating at the…

(0)Comments | January 18, 2021 1:21 pm

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