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The Port of Colombo handles record breaking 7 millionth TEU

The Port of Colombo handled its 7 millionth TEU on 31st December 2018.  A special function was held at the  Jaya Container Terminal (JCT) of Sri Lanka Ports Authority (SLPA) to celebrate the handling of the 7 million mark. The function was graced by   Hon.Minister of Ports, Shipping  and Southern Development Sagala Rathnayake with the…

(0)Comments | December 31, 2018 4:05 pm

CICT ends 2018 with 2.65 mn. teus, 38% of Colombo Port’s volume

Colombo International Container Terminals (CICT) has reported handling 2.65 million teus for the 12 months ending 31st December 2018, recording a 13 per cent increase in its annual throughput and contributing 38 per cent of the Port of Colombo’s volumes in the year just concluded. A significant factor in the achievement of 7 million teus…

(0)Comments | December 31, 2018 2:41 pm

Dr. Samaratunga reappointed Finance Ministry Secretary

Dr. R. H. S. Samaratunga has been reappointed as the Secretary to the Ministry of Finance and Mass Media, stated the Finance Ministry. Accordingly, Dr. Samaratunga assumed his duties at the Ministry this morning (31).

(0)Comments | December 31, 2018 10:46 am

Increase equity exposure to 60% – Report

One of Sri Lanka’s leading investment banks – First Capital Holdings’ research arm First Capital Research in an ‘Equity Strategy’ report points out that increase in equity exposure from 50% to 60% is favourable amidst an upgrade of All Share Price Index (ASPI) volatility expectations to 6,000-6,500 (up from their previous prediction of 5,800 –…

(0)Comments | December 31, 2018 10:38 am

Sri Lankan rupee hits record low; investors shrug off cenbank rate decision

Reuters – ** The Sri Lankan rupee fell to a record low for a sixth straight session on Friday on continued outflows of foreign funds mainly from government bonds as political uncertainty dented investor sentiment. ** The central bank’s decision to keep the key monetary policy rates steady failed to boost the currency, which is…

(0)Comments | December 29, 2018 8:59 am

Sri Lanka CBSL keeps policy rates unchanged

The Monetary Board of the Central Bank of Sri Lanka, at its meeting held on 27 December 2018, decided to maintain policy interest rates at their current levels. Accordingly, the Standing Deposit Facility Rate (SDFR) and Standing Lending Facility Rate (SLFR) of the Central Bank will remain at 8.00 per cent and 9.00 per cent,…

(0)Comments | December 28, 2018 9:47 am

Need for aspiring CAs to strengthen their emotional intelligence highlighted at CA Sri Lanka Training Partners Forum

Over 100 Supervising Members came together at the annual Training Partners Forum organised by the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka). At the forum, the need to inculcate aspiring Chartered Accountants with professional skills and to specifically strengthen their emotional intelligence which will help them make better decisions while working under…

(0)Comments | December 27, 2018 2:51 pm

Sri Lankan rupee hits record low on foreign outflows

Reuters – ** The Sri Lankan rupee fell to a record low on Wednesday due to continued outflows of foreign funds mainly from government bonds as political uncertainty dented investor sentiment. ** The rupee hit an all-time low of 181.85 to the dollar in early trade, surpassing its previous record of 181.67 marked in the…

(0)Comments | December 27, 2018 9:17 am

IBM appoints Riza Wadood as the new Country General Manager for Sri Lanka

IBM (NYSE: IBM) announced the appointment of Riza Wadood as the new Country General Manager for Sri Lanka. This leadership announcement further demonstrates IBM’s commitment in the region. In his new role, Riza will be responsible for business growth and leadership of IBM in Sri Lanka. He will lead the team to support the country’s…

(0)Comments | December 26, 2018 1:23 pm

The Ceylon Chamber Facilitates Efficient Document Approval Process for Exporters

A Memorandum of Understanding was signed between the Ceylon Chamber of Commerce and the Ministry of Foreign Affairs (MoFA) last week, for the certification of export related documents through the electronic Document Attestation System (e-DAS) of the Ministry. The MOU was signed by Mr. Ravinath Ariyasinghe, Secretary, MoFA, and Mrs. Dhara Wijayatilake, Secretary General/CEO, of…

(0)Comments | December 26, 2018 10:42 am