Sri Lankan authorities should take effective and immediate action to crack down toddy mafia, instead of continuously turning a blind eye, a top industry official said. “We could observe that the legal alcohol industry is shrinking due to the increase in the illegal production of liquor. Government taxes were increased on two occasions during…
Manufacturing activities expanded further at a higher ratein July 2019,recordingan index value of 55.7 which is an increase of 1.8 index points, compared to June 2019. This expansion in manufacturing PMI is mainly attributable to the significant increase in New Orders and subsequent increase in Production, especially, in manufacturing of food & beverages sector. The…
The premier economic forum, the Sri Lanka Economic Summit (SLES) 2019 will discuss the global economy in the morning session of Day 01. In a session focused on the Global Dynamics in the next Decade, the current discourse in the global environment will be discussed. These mostly centre on trade wars, Brexit, and the next…
Collaborates with Ideal Motors, commits towards built in Sri Lanka products and competencies Mahindra & Mahindra Ltd., a part of the US$ 20.7 billion Mahindra Group, Saturday (17) expanded its global footprint with the inauguration of its local automotive assembly plant at Welipenna, near Colombo, Sri Lanka. Christened Mahindra Ideal Lanka Pvt Ltd this…
Reuters – Sri Lankan shares on Friday hit their lowest close in a week as investors remained on the sidelines and sought more clarity after the main opposition party, seeking to capitalise on public clamour for a decisive leader, named a hardline former defence chief as presidential candidate. ** The benchmark stock index ended down…
Still no word on who bought the $18.7 million hypercar, but you can see it up close in Pebble Beach next week. Serious car collectors know that Pebble Beach Concours d’Elegance, the industry’s most prestigious show, is where you go if you want to see the world’s rarest automobiles. And because of that, there…
Central Bank Governor Dr. Indrajit Coomaraswamy noted that the government will soon issue Request for Proposals to raise $500 million via Samurai bonds, which will be used to boost reserves and finance debt repayment. “We are about to call for RFPs for the $ 500 million Samurai bond. For that, the tender board has to…
Sri Lanka’s High Commissioner to India Austin Fernando requested the Andhra Pradesh State Government to support and facilitate the expansion of Sri Lanka’s investment “Brandix Apparel City” located in Vishakhapatnam, and liaise with Sri Lanka to develop tourism both ways. The High Commissioner made these requests when he called on the Governor of Andhra Pradesh…
The Asian Development Bank (ADB) has approved a $160 million loan to modernize the operations and improve the efficiency of Sri Lanka Railways, the country’s railway operator, by upgrading its infrastructure and technical capacity. This is ADB’s first loan in Sri Lanka’s railway sector. “There is a need to improve public transportation in Sri Lanka…
(Reuters) – Sri Lankan shares closed weaker on Thursday as investors locked in profits after the recent rally in financial and industrial stocks, while the rupee edged down on importer dollar demand. ** The benchmark stock index ended down 0.54% at 5,917.15, from its highest close since July 30. The index posted gains of 0.82%…
