(Reuters) – Sri Lankan shares dropped on Thursday, weighed down by foreign sell-offs and profit-taking mainly in construction shares, while the rupee ended weaker. ** The Sri Lankan rupee fell 0.17% to 181.40/50 per dollar, compared to Wednesday’s close of 181.10/35, Refinitiv data showed. It is up 0.7% so far this year. ** The benchmark…
The Hambantota International Port (HIP) had a busy week with 6 RORO ships calling at the port, discharging 18,288 vehicles of which 16,830 vehicles were for transshipment and 1458 vehicles were for local agencies. The discharging operation for these vessels were carried out simultaneously. The vessels were from the shipping lines Hoegh, NYK and Glovis all of…
Credit rating agency Fitch has upgraded the outlook on Sri Lanka’s banking sector to stable from negative. “We have revised our outlook on Sri Lanka’s banking sector to stable from negative, reflecting brighter prospects for loan growth, although the environment is still challenging following a cyclical trough,” Fitch said in a statement. The sector outlooks on most…
Sri Lanka Tourism Promotion Bureau, (SLTPB) in collaboration with the Embassy of Sri Lanka in Japan, organized a FAM Tour for a delegation of Japanese tour operators/ agents representing 20 Japanese companies. The main purpose of their participation at this FAM Tour was to convey the message to the rest of the world and their…
The cabinet has yesterday (04) decided to abolish the permit scheme that was granted for the transport of Sand, Soil and Clay for Local Industry and Construction Industry purposes with immediate effect, Environment, Wildlife, Lands and Land Development Minister S.M Chandrasena said. “President Gotabaya Rajapaksa has decided to scrap the permit scheme that was in practice to transport sand, soil and…
Sri Lanka needs to improve investor confidence, focus on sources of potential high growth and focus on areas where there are opportunities to export, Hans Timmer, World Bank Chief Economist for the South Asia Region said. “But for some reason, these opportunities have not been taken,” he added. “When there is a lot of uncertainty…
Cites FCC’s arbitrary findings and failure to offer due process protections Huawei today (on 5th December 2019), mounted a legal challenge to the Federal Communications Commission (FCC), seeking the court to overturn an unlawful order passed by the FCC on Nov. 22. The order bans carriers in rural America from tapping the Universal Service Fund…
According to the latest data released by the Sri Lanka Tourism Development Authority (SLTDA) the tourism arrivals in November 2019 have increased to 176,587 from 118,743 in October 2019, recording the highest number of tourist arrivals, since the Easter bombings in April. But in comparison to November last year, there was a decline of 09.5%…
(Reuters) – Sri Lankan shares dipped on Wednesday, weighed down by consumer staple companies and as foreign selling dented sentiment, while the rupee ended stronger. ** The Sri Lankan rupee rose 0.22% to 181.10/35 per dollar, compared to Tuesday’s close of 181.50/65, Refinitiv data showed. It is up 0.8% so far this year. ** The…
Sri Lanka’s new government is exploring options to attract more foreign direct investments into expressways and other infrastructure projects, State Minister for Investment Promotion Keheliya Rambukwella said. “I don’t think we need any foreign support right now. Instead of loans, it is time to look at foreign direct investment. We have taken enough loans. During…
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