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Sri Lankan shares edge up from near 4-week closing low on foreign buying

Reuters – Sri Lankan shares edged up on Wednesday as foreign investors sought bargains after a sell-off in the previous session pushed the bourse to four-week lows. The Colombo stock index closed 0.05 percent higher at 6,120.69 from 6,117.63 on Tuesday, which was its lowest closing level since July 11. The index has declined about…

(0)Comments | August 9, 2018 9:43 am

Sri Lanka’s Government to revise import duty on small cars and hybrid vehicles – PM

Sri Lanka’s Prime Minister Ranil Wickremesinghe addressing the Parliament yesterday said that the government expects to revise the import duties imposed on small cars and hybrid vehicles in the near future, depending on national economic factors. He further pointed out that vehicle import expenditure in Sri Lanka had risen to US $ 666 million within…

(0)Comments | August 9, 2018 9:41 am

Ambeon Group continue the winning streak

Proven track record of success extends into financial year 2017/2018 Consistently positive financial results seen across all subsidiaries Acquisition of MillenniumIT ESP adds Rs.1.5 billion in Revenue   Leading multi-discipline diversified conglomerate the Ambeon Group have shown remarkable and sustained growth throughout the 2017/2018 financial year, according to annual financial results released to the Colombo…

(0)Comments | August 8, 2018 4:22 pm

Singer Revenue grows 16% in 1st Quarter

Singer (Sri Lanka) PLC announced today its results for the quarter ended 30th June 2018.  The results showed an increase of 16% in revenue amounting to Rs. 15.1 Billion, compared to the previous year, in spite of challenging business conditions.  While an improvement in the rural economy was noted in April-May, the company  noted a…

(0)Comments | August 8, 2018 4:16 pm

Visitors to National Botanical Gardens down 7.2% in 2017, but total revenue up 8% to Rs. 849 Mn

The total amount of visitors to Sri Lanka’s Botanic Gardens had declined by 7.2% in 2017 from 3.05 million in 2016 to 2.83 million in 2017, the latest annual review of the Department of National Botanic Gardens’ notes. Among these 440,207 were foreigners in 2017 which had declined from 465,405 in 2016, down by a…

(0)Comments | August 8, 2018 4:12 pm

Sri Lanka’s Broiler Chicks production hits 7 times of Population in 2017

Sri Lanka’s poultry breeder sector produced over 149.18 million Broiler Chicks in last year  Sri Lankan poultry breeder farms had produced nearly a total of 149.18 million broiler chicks and 8.50 million layer chicks (chicks raised to laying eggs) in 2017, an estimation in the latest Annual Performance Report of the Department of Animal Production…

(0)Comments | August 8, 2018 4:04 pm

Mobitel partners LDR Technologies to launch LocoMole Sri Lanka to boost Tourism

Sri Lanka’s national mobile service provider, Mobitel, partnered with LDR Technologies to launch LocoMole Sri Lanka, the first-ever digital technology platform for tourism and location base service recently, at the Mobitel Xstation Hub. The LocoMole Sri Lanka app initial service spans Anuradhapura, Sigiriya, Colombo, Polonnaruwa and Dambulla. Customers using The LocoMole Sri Lanka app can…

(0)Comments | August 8, 2018 1:15 pm

All set for Sri Lanka’s first Youtube Open Mic Night

This year’s most awaited event for YouTube enthusiasts are all geared up to arrive in Colombo. With the overwhelming response to the event, of a massive amount of registrations close to 1000, Organizers are anticipating a fun filled event to embark on an active community of YouTubers and companies who are making the most of…

(0)Comments | August 8, 2018 12:00 pm

Tourist Arrivals at a 6% growth in July 2018, First 7 Months growth at 13.7%

The total number of tourist arrivals to Sri Lanka during July 2018 was 217,829, compared to July last year, there is a growth of 6 % when the arrivals were 205,482, latest data from Tourism office highlights. As at July 31, 1,382,476 tourists had visited Sri Lanka for this year. It is a 13.7 %…

(0)Comments | August 8, 2018 11:40 am

Nations Trust Bank records resilient performance

The Bank closed the 6 months period ending 30th June 2018 with a post-tax profit of Rs.1,875Mn and a pre-tax profit of Rs.3,882Mn underpinned by good growth in business volumes and improved operating margins. Despite increased impairment charges slowing the bottom line growth, the Bank recorded a resilient performance in the back drop of industry…

(0)Comments | August 8, 2018 11:25 am