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MTD Walkers takeover by Ravi Wijeratne will not proceed

MTD Walkers today (28) announced that the transaction in respect of the sale and purchase of 90.78% of its stake amounting to 152.18 million shares to Business magnate Ravi Wijeratne will not be pursued. In a stock exchange filing, the company stated that they have been informed by MTD Capital Bhd, Malaysia, that the intended…

(0)Comments | January 28, 2020 4:19 pm

Current accommodative monetary policy stance is appropriate – First Capital

Considering the recent major Fiscal and Monetary policy changes, First Capital Research believes that the current accommodative monetary policy stance is appropriate and that there is ample space for market lending rates to reduce without further adjustment in policy rates. Already announced tax relief, and proposed moratorium on capital repayments of bank loans for the…

(0)Comments | January 28, 2020 1:52 pm

Sri Lanka presents USD16 billion opportunity for the private sector to invest in sustainable development, says Standard Chartered

Opportunity2030 study reveals the almost USD10 trillion private-sector investment opportunity in contributing to the UN Sustainable Development Goals (SDGs) in emerging markets At USD7.3 billion, the greatest private-sector investment opportunity in Sri Lanka is investment in achieving and maintaining universal access to electricity (SDG 7)   The Standard Chartered SDG Investment Map reveals an almost…

(0)Comments | January 28, 2020 1:50 pm

China coronavirus threatens Sri Lanka’s tourism industry

Sri Lanka’s tourism industry is bracing for a hit from the impact of coronavirus with a downturn in arrivals. Officials have begun meeting flights from China, amid spreading global concern about the virus which has spread to a number of countries around the world, including Sri Lanka. Authorities in China have already begun placing restrictions…

(0)Comments | January 28, 2020 1:37 pm

BOI chairman meets slovenian foreign ministry delegation and discusses investment potential

Susantha Ratnayake, Chairman of the Board of Investment of Sri Lanka held discussions with a delegation of senior diplomats from Slovenia visiting Sri Lanka. The delegation was led by Mr. Marjan Cencen Ambassador of Slovenia to Sri Lanka based in New Delhi and Mrs. Mateja Vodeb Ghosh, Minister Plenipotentiary. The ambassador had visited Sri Lanka…

(0)Comments | January 28, 2020 12:10 pm

China Frantically Shuts Down Stock Market to Prevent Coronavirus Selloff

Chinese authorities have decided to suspend trading on the Shanghai and Shenzhen stock exchanges. This move comes as the Wuhan coronavirus outbreak grows in size and severity. The government is kicking the can down the road. Investors can expect a massive correction when trading resumes next Monday. China’s financial markets will remain shuttered until Feb. 3 due…

(0)Comments | January 28, 2020 11:36 am

Sirisena resigns as E-Channelling chairman

P.G Kumarasinghe Sirisena who served as the chairman/ non-Executive Director of E-Channelling PLC has tendered his resignation with effect from 22nd January 2020. In a stock exchange filing today (28) the company said that the registration of Mr. P.G.K.Sirisena was informed to them on the 23’d of January 2020 and on receipt of same a Resolution was circulated…

(0)Comments | January 28, 2020 10:51 am

Sri Lanka vehicle registrations subdued in December

Sri Lanka’s vehicle registrations were subdued in December 2019, with total car registrations recording 2,057 units in December marginally up from 2,030 units in November but down from 2,669 units 12 months ago, according to a market report by JB Securities (Pvt.) Ltd. In the overall segment Toyota is the market leader with a 64.2%…

(0)Comments | January 28, 2020 10:16 am

Norwegian Ambassador opens Sri Lanka’s first floating solar plant during visit to North

Norwegian Ambassador H.E. Trine Jøranli Eskedal visited Jaffna and Kilinochchi from 22 to 24 January.  The highlight of her visit to the North was the opening of Sri Lanka’s first-ever floating solar plant with a capacity of 42KW located at the Kilinochchi campus of the Jaffna University. The project is a result of the research…

(0)Comments | January 27, 2020 5:28 pm

Sri Lanka shares slip as coronavirus fears intensify

Sri Lankan shares fell on Monday as fears over the spreading Chinese virus continued to weigh on the global economy. The All Share Price Index (ASPI) lost 0.95% or 56.66 points to close at 5,934.63 points, while the S&P SL20 dropped to 1.37% or 39.58 points to close at 2,843.43. Market turnover was Rs.181.9 million….

(0)Comments | January 27, 2020 5:20 pm