Sri Lanka’s latest Cabinet decisions revealed that Sri Lanka’s Bandaranaike International Airport (BIA) Departure Walkway in Katunayake will have 6 Currency Exchange Counters in the future. Accordingly proposal made by Nimal Siripala de Silva, the Minister of Transport and Civil Aviation, to call for bids from the financial institutions approved by the Central Bank of Sri…
Reuters – The Sri Lankan rupee hit an all-time low for a second straight session on Thursday, as importers bought dollars amid fears the local currency could depreciate further tracking weakness in emerging-market currencies, dealers said. Absence of dollar conversions by exporters and remittances also weighed on the market, they added. The rupee fell to…
Recent Cabinet decisions outlined that two Indian origin brothers Ashok Goel and Sudhir Goyel founded Gulf Petrochem FZC was awarded the procurement contracts for purchasing the refined petroleum products to Sri Lanka based on a proposal made by Arjuna Ranatunga, the Minister of Petroleum Resources Development. The Cabinet decisions noted that with a view to…
Recent Cabinet decisions informed that a digital advertising campaign has been designed to be implemented to promote Sri Lanka as an attractive destination among the tourists in the countries of United Kingdom, Germany and France. Accordingly, with a view to implementing the digital advertising campaign specific for each country under the government procurement procedure, the…
Fitch Ratings maintains a negative banking-sector outlook for Sri Lanka in 2018 as operating conditions should remain challenging, which could put mild pressure on performance during the rest of 2018 and possibly 2019. Nevertheless, the performance of Sri Lankan banks under Fitch’s coverage remained fairly stable through 2017 and 1Q18, and Fitch expects their credit…
Emirates has announced that it will suspend flights EK348 and EK349 which currently operate between Singapore (SIN) and Colombo (CMB). The decision was made after a periodic review of our operations to ensure the best utilisation of our aircraft fleet. The final day of service from Colombo to Singapore will be on 27 October 2018,…
Deposits exceed Rs 911 billion, growing by over Rs 10 billion a month Loan book maintains growth of over Rs 12 billion a month to reach Rs 829 billion Taxes exceed Rs 7 billion in first 6 months of 2018 accounting for 45% of PBT Commercial Bank of Ceylon PLC has continued its growth momentum…
Reuters – Sri Lankan shares fell for a fourth straight session on Wednesday, as foreign investors pared holdings in market heavyweight John Keells Holdings amid global worries. Lacklustre corporate results also hit investor appetite for riskier assets, analysts said. The Colombo stock index fell 0.43 percent to 6,086.74, its lowest close since July 10. It…
Sri Lanka’s financial market regulator had added a new regulation to the industry by directing finance companies not to give loans to borrowers in tourism related businesses unless they have a license, Sri Lanka’s Tourism sector regulator Sri Lanka Tourism Development Authority had said. Reports reveal that the move has come at a time when…
Manipal Academy of Higher Education, Manipal Vice Chancellor Dr. H. Vinod Bhat had recently told reporters that “Manipal plans to start three new campuses in the next two years, one in Bengaluru, the second in Jamshedpur and the third in Sri Lanka”. He has made these comments during an event held to celebrate Manipal Academy…
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