New York (CNN Business) – Oil prices climbed sharply Wednesday after the Pentagon said Iran launched more than a dozen ballistic missiles against bases in Iraq that house US troops, amplifying concerns about a spiraling tit-for-tat conflict between the United States and Iran. US crude was last up more than 1.2% to over $63 a barrel, coming down slightly…
Due to the prevailing unsettled situation in the Persian Gulf region, SriLankan Airlines has altered the route of its Colombo-London-Colombo flights to avoid the airspace of Iran and Iraq with immediate effect, as a precautionary measure. SriLankan Airlines is closely monitoring the situation and is in contact with relevant national and international authorities, with the…
Central bank chief Monday (06) urged banks to rethink their credit disbursement policies, as the traditional ‘risk averse’ mindset has deprived emerging entrepreneurs and new ventures of much needed initial capital. “I urge Sri Lanka’s banking sector to rethink its credit disbursement policies, as the traditional ‘risk averse’ mindset has deprived emerging entrepreneurs and new…
President invited all countries to look positively at Sri Lanka as an investment hub when a delegation representing the European Union (EU) called on President Gotabaya Rajapaksa at the Presidential Secretariat Monday (06). Underlying Sri Lanka’s neutrality stance, President pointed out that the best way to overcome regional hegemony would be to assist small countries…
Reuters – Sri Lankan shares fell on Tuesday to their lowest in nearly eight weeks, dragged by financial and consumer staples. ** The benchmark Sri Lankan stock index closed down 0.72% at 6,026.09, the lowest since Nov. 15. ** Shares of liquor manufacturer Distilleries Company of Sri Lanka fell for a sixth straight session and…
Sri Lanka received 1.9 million tourists last year, with December recording the highest number of arrivals with 241,663 tourists since the Easter bombings in April the latest data released by the Sri Lanka Tourism Development Authority (SLTDA) showed. According to official data, 1,913,702 tourists had visited Sri Lanka in 2019. It is a decline of 18.0% from the 2,333,796…
Sri Lanka’s inflation, as measured by the change in the Colombo Consumers’ Price Index (CCPI), increased to 4.8% in December 2019 from 4.4% in November 2019, the Department of Census and Statistics reported. The CCPI for all items for the month of December 2019 was 132.4 and it records an increase of 0.7 index points…
P.G Kumarasinghe Sirisena who served as the chairman/ independent non-Executive Director of the Sri Lanka Telecom PLC (SLT) board has tendered his resignation with effect from 6th January 2020. In a stock exchange filing today (07) the company said that he does not have any relevant interests in shares of the Company. Kumarasinghe Sirisena was…
LANKATILES embarks on this strategic partnership to seize emerging opportunities in high demand for mosaic tiles in US markets on account of recent trade barriers on China’s exports to the US LANKATILES, the pioneering wall and floor tile manufacturer in Sri Lanka, announced that it will be entering the globally competitive mosaic tiles segment. LANKATILES…
Sri Lanka’s LOLC Holdings yesterday (6) stated that it has entered into two agreements with Kookmin Bank, to sell its Cambodian sub-subsidiary for 603 million US dollars. In a stock market disclosure the company noted that its subsidiary LOLC International Ltd. of Singapore on 6 January along with other minority shareholders of PRASAC Microfinance Institution Ltd….
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