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Sri Lanka apparels beat bullish forecast to record highest exports

Sri Lanka’s 2017 apparel performance has matched the recent forecast made by the Minister of industry and Commerce-even exceeding a little.   “We expect that the final total apparel exports for entire 2017 would clearly exceed the exports of 2016, and expect it to be in the range of $ 4.7 billion” forecasted the Minister…

(0)Comments | February 1, 2018 4:10 pm

Janashakthi Insurance authorizes sale of all its shares in Janashakthi General Insurance

Janashakthi Insurance PLC says that its Board of Directors has authorized in principle the sale of all its shares held in its wholly owned subsidiary Janashakthi General Insurance Limited. The terms of sale are in the final stages of negotiations. The transaction would also be subject to the approval of the shareholders of Janashakthi Insurance…

(0)Comments | February 1, 2018 2:43 pm

DPL Records Steady Growth in Revenue

Dipped Products Group posted Rs. 21.3 billion turnover for the 9 months of the financial year 2017/18, 20 percent increase from a year ago. Group Profit before Tax (PBT) for the period improved to Rs. 600 million from Rs. 241 million in the previous year. The Hand Protection segment contributed Rs. 12.1 billion to the…

(0)Comments | February 1, 2018 12:36 pm

President to open Footwear and Leather Fair – 2018 tomorrow

President Maithripala Sirisena on 2nd February will declare open the Footwear and Leather Fair-2018, organized for the 10th consequent year by the Sri Lanka Footwear and Leather Products Manufacturers Association ( SLFLPMA) at the Sirimavo Bandaranaike Memorial Exhibition Centre , BMICH premises, Colombo, in the presence of the distinguish gathering which include participants from India…

(0)Comments | February 1, 2018 11:18 am

Australia grants AUD 31 Mn for Governance Initiatives

Australia and Sri Lanka signed a Subsidiary Arrangement for grant assistance to work together on strengthening governance in Sri Lanka, through a four-year program valued at up to AUD 31 million (LKR3,850 million).   The Governance for Growth Program aims to support Sri Lanka’s efforts to increase economic growth and spread the benefits of that…

(0)Comments | February 1, 2018 11:12 am

Issue of a Circulation Standard Commemorative Currency Note to mark the 70th Independence Celebration of Sri Lanka

The Central Bank of Sri Lanka issued a circulation standard commemorative currency note in the denomination of Rupees 1000 to mark the 70th Independence Celebration in the country on 04.02.2018. This is the 4th commemorative note that was issued, by the Central Bank. The size, predominant color and the security features of this commemorative currency note are same…

(0)Comments | January 31, 2018 3:46 pm

Sri Lanka shares mark 3-wk closing high; political woes weigh

Reuters – Sri Lankan shares notched a near three-week closing high on Tuesday led by market heavyweight John Keells Holdings, but political uncertainty ahead of a local election next month weighed on sentiment, dealers said. Sri Lanka will hold a long-delayed local government election on Feb. 10. President Maithripala Sirisena in an election rally over…

(0)Comments | January 31, 2018 3:39 pm

CA Sri Lanka takes lead in educating Nepal’s Chartered Accountants on IFRS implementation

In its capacity as an influential accounting body, CA Sri Lanka, continued to take the lead in educating member bodies in the South Asian region on the implementation of the International Financial Reporting Standards (IFRS).   In this endeavor, CA Sri Lanka recently organised an IFRS training programme for members of the Association of Chartered…

(0)Comments | January 30, 2018 5:12 pm

Sri Lanka Participates at 2018 – Oslo Tourism Fair

Sri Lanka Embassy in Oslo and the Tourism Promotion Bureau organized and coordinated Sri Lanka’s participation at the premier Nordic Tourism Fair – ‘Reiselivsmessen 2018’ held from 12th -14th January 2018. NKAR Travels, Araliya Green Hills, Union Resort, Sunway Holiday from Sri Lanka participated and represented the Sri Lanka Travel Trade. The attractive Sri Lanka pavilion drew…

(0)Comments | January 30, 2018 4:46 pm

Another brokering company closes down

The management of Navara Securities (Private) Limited, functioning as a Stock Broker at the Colombo Stock Exchange has decided to adopt the Voluntary Inactivation of Business Operations. While informing about this to its clients, Navara Securities (Private) Limited has requested tem to transfer their stock portfolios with the company to another stockbroker firm at their…

(0)Comments | January 30, 2018 4:00 pm