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Government reduces several taxes in a major Economic Revival Plan

Just less than a week after appointing new Prime Minister, in a public statement government said that the President Maithripala Sirisena, and the Prime Minister and Minister of Finance and Economic Affairs Mahinda Rajapaksa have raised concerns regarding the serious setback in the economy as reflected in the persistently low growth rates during the last…

(0)Comments | November 2, 2018 7:52 am

Sri Lankan rupee rebounds from record low; stocks hit near 2-month high

Reuters – The Sri Lankan rupee traded at a record low on Thursday, but closed firmer due to central bank dollar sales. Stocks hit a nearly two-month closing high, but foreign investors continue to exit even after newly appointed Prime Minister Mahinda Rajapaksa’s attempts to resolve the political crisis. ** The rupee traded at a…

(0)Comments | November 2, 2018 12:12 am

Sri Lankan stocks surge; ASPI crosses 6,000 mark

The All-Share Price Index (ASPI) of the Colombo Stock Exchange (CSE) has recorded a significant growth today (01). The All-Share Price Index went up by 160.66 points (2.70%) to 6,114.13 while the S&P SL 20 index went up by 136.99 points (4.44%) to 3,221.07. Stock market turnover was 1.5 billion Sri Lankan rupees today, more…

(0)Comments | November 1, 2018 6:17 pm

Sri Lanka maintains unblemished record on servicing foreign debt obligations

The Government of Sri Lanka (GOSL) has been issuing International Sovereign Bonds (ISBs) since 2007. GOSL has maintained an unblemished record on servicing of its debt obligations timely, including ISBs, since independence. ISBs issued in January and April 2014 in United State Dollar (USD) 1,000 million and 500 million, respectively, are due to mature in January and April…

(0)Comments | November 1, 2018 2:30 pm

Sri Lankan rupee hits record low on political woes

Reuters – ** The Sri Lankan rupee dropped 0.51 percent to a record low on Wednesday, dented by political uncertainty. Stocks slipped from a nearly six-week closing high hit in the previous session as foreign investors exited after President Maithripala Sirisena sacked the prime minister. ** The rupee dropped to a record low of 175.65…

(0)Comments | November 1, 2018 10:51 am

New Finance Secretary assumes duty

Deputy Secretary to Treasury Mr. S.R. Attygalle who has been appointed as the Secretary to Ministry of Finance and Economic Affairs and the Secretary to Treasury by President Maithripala Sirisena assumed duties in his new post at the Ministry of Finance, Secretariat Bldg, Colombo 01 today afternoon (October 31, 2018). Mr Attygalle who is from…

(0)Comments | October 31, 2018 5:31 pm

PropertyGuru Doubles Down on Southeast Asia with S$200M Funding Round

Group bolsters its regional leadership with the new funding and full consolidation of Vietnam’s No. 1 property portal, Batdongsan.com.vn SINGAPORE, 31 October 2018 – PropertyGuru Group (‘PropertyGuru’ or ‘the Group’), Asia’s leading property technology group, today announced that it has secured S$200 million (approx.) [US$145 million] in a Series D round of funding by leading…

(0)Comments | October 31, 2018 4:44 pm

ONYX Hospitality Group introduces its fourth property to Sri Lanka

Presenting ‘The Villas, Wadduwa’ ONYX Hospitality Group, one of Asia’s leading hotel management companies today announced the introduction of its fourth property to the Sri Lankan market. The company made the announcement after taking over full management of The Villas, Wadduwa, previously managed by Amaya Hotels and Resorts. “We are proud to introduce yet another…

(0)Comments | October 31, 2018 2:26 pm

Teejay 6-month net profit up 20% to Rs 705 million despite challenges

Teejay Lanka PLC, Sri Lanka’s only multinational textile manufacturer, has reported sales of Rs 14.4 billion and profit after tax of Rs 704.8 million at Group level for the six months ending 30th September 2018, reflecting healthy growth of 25 per cent and 20 per cent respectively for the period. Group profit before tax improved…

(0)Comments | October 31, 2018 1:58 pm

SriLankan Airlines spurs 45% growth of tourism from Aussie Markets

The Airlines’ Melbourne service celebrates a year of success SriLankan Airlines celebrates the first anniversary of the launch of direct services to Melbourne this month, looking back with much satisfaction on a bold commercial decision that has proven to be a significant success for both the National Carrier and Sri Lanka’s tourism industry that has…

(0)Comments | October 31, 2018 1:49 pm