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WIM, IFC, Government of Australia Celebrate Sri Lankan Women’s Successes

‘Top 50’ Professional and Career Women Awards 2019 showcase inspiring stories of empowered women who are powering sustainable growth in Sri Lanka   The ‘Top 50’ Professional and Career Women Awards 2019 were conferred recently, with Sri Lankan women leaders recognized for their contributions to sustainable and inclusive economic growth in the country. Achievements like…

(0)Comments | September 9, 2019 11:49 am

Samurai bond gets cabinet nod – CBSL Governor

Cabinet approval had been given to appoint a Steering Committee and Technical Evaluation Committee for the mobilization of the issuance of a samurai bond, Central Bank Governor Dr. Indrajit Coomaraswamy said. “The cabinet approved the Steering Committee and the Technical Evaluation Committee for the mobilization or the issuance of a samurai bond. So we are…

(0)Comments | September 9, 2019 10:51 am

No collateral needed to obtain Enterprise loan up to 1.5 million from State Banks – Mangala

Minister of Finance Mangala Samaraweera who is in Jaffna overseeing the implementation of entrepreneurship loan scheme to young people in the northern province Sunday (08) held series of meetings with war affected people to help them to make use of the  opportunity  under the enterprise Sri Lanka Exhibition to obtain loans. In the morning he…

(0)Comments | September 9, 2019 10:49 am

Sri Lankan rupee ends at its lowest in over 7 months; stocks fall

Reuters – ** Sri Lanka’s rupee closed at its lowest level in over seven months as foreign fund outflows from government securities rose, while stocks extended losses for the third straight session. ** The rupee ended weaker at 180.80/181.00 per dollar, its lowest since Jan. 28. It closed at 180.75/90 on Thursday. However, the currency…

(0)Comments | September 7, 2019 10:03 pm

Norway’s Telenor and Malaysia’s Axiata pull plug on Asian telecom tie-up

OSLO/KUALA LUMPUR (Reuters) – Telenor (TEL.OL) and Malaysia’s Axiata Group (AXIA.KL) have ended talks to create a telecoms joint venture with nearly 300 million customers across South Asia and Southeast Asia in a blow to the Norwegian group’s growth strategy and shares. Shares in Telenor, which has expanded in Asia in pursuit of growth outside…

(0)Comments | September 6, 2019 5:36 pm

All corporate eyes are on how politics and fiscal policy will play out – survey

Of the five pressing issues for business in Sri Lanka today, taxes trump all else with nearly half of respondents to the latest LMD-Nielsen Business Confidence Index (BCI) survey pointing in this direction- although it is noteworthy that eight in 10 said so in July. In terms of developments on the tax front, the cabinet…

(0)Comments | September 6, 2019 3:59 pm

Is Cheque usage falling in Sri Lanka?

The country’s share of cheque volume with respect to other major payment instruments has dropped by 7.7% during the first quarter of 2019, in comparison to the first quarter of 2018. “Value wise it will change but volume wise it has reduced. Last year also it was the same,” Director – Payments and Settlements of…

(0)Comments | September 6, 2019 11:18 am

Reducing import duties can make Sri Lanka an attractive shopping destination for tourists – ODEL Chairman

Sri Lanka’s leading fashion retailer Odel PLC, says it is working closely with both the government and policy-makers to reduce the duty on imports to render Sri Lanka as an attractive shopping destination to tourists. “As the pioneer in the fashion retail space, Odel is working closely with both the government and policy-makers to reduce…

(0)Comments | September 6, 2019 10:25 am

Sri Lanka rupee extends losses as fund outflow worries weigh

(Reuters) – Sri Lanka’s rupee fell further on Thursday to close at its lowest level in more than seven months, due to continued foreign fund outflows from government securities after a surprise rate cut last month. ** Foreign investors sold government securities worth of 25.2 billion rupees in the two weeks ended on Aug. 28,…

(0)Comments | September 6, 2019 9:34 am

Maruti Suzuki announces 2-day shutdown of Gurugram, Manesar plants

Maruti Suzuki India reported a nearly one-third decline in sales at 1,06,413 units in August It had also cut production by one-third last month livemint – India’s biggest carmaker Maruti Suzuki announced no-production days at Gurugram and Manesar plants on 7th September and 9th September 2019. In a statement to stock exchanges, Maruti Suzuki India…

(0)Comments | September 5, 2019 6:05 pm