Three daily flights offering over 2400 additional seats per week. SriLankan Airlines is significantly expanding its capacity on the Colombo-Singapore-Colombo route with the introduction of wide bodied Airbus A330 aircraft that are equipped with the latest inflight entertainment systems, luxurious seating and on-board cuisine that is among the finest in the sky, to provide…
Sri Lanka’s over US $ 12 billion or Rs. 2 trillion word funds holding, country’s largest pension fund that manages private sector workers life time savings – Employees Provident Fund (EPF) will come back to the stock market fairly soon according to Central Bank Governor Dr. Indrajit Coomaraswamy. His comments came on the sidelines…
Just crossing little less than 5 years since buying out Sri Lanka’s Retail Queen started Odel via a combined bank leveraged buyout, Sri Lanka’s Leverage King titled Ashok Pathirage controlled Softlogic group had bought another branded retail clothing venture ‘Cotton Collection’ a social media post outlined Tuesday (28). Releasing an official communique via ‘Cotton Collection’…
Reuters – Sri Lankan shares extended losses on Tuesday to hit their lowest close in 17 months, as investors offloaded telecom and beverage stocks, while worries over new tax proposals dented sentiment. The Colombo stock index ended 0.56 percent lower at 6,010.23, its lowest close since March 28, 2017. It closed marginally higher last week…
Earnings from merchandise exports surpassed US dollars 1 billion for the second time during the year to US dollars 1,024 million in June 2018, mainly driven by industrial exports. Under industrial exports, earnings from textiles and garment exports increased significantly due to the higher demand from the EU and the USA while exports to nontraditional…
Reuters – The Sri Lankan rupee hit an all-time low of 161.30 per dollar on Tuesday, dragged down by importer dollar demand amid less inflows of the greenback, dealers said. The rupee, which hit a fresh record low of 161.30 early in the trade, closed at 161.20/30 per dollar, compared with Monday’s close of 161.05/20….
Sri Lanka’s external sector displayed a mixed performance in June 2018, latest data highlights. Even though the lowest trade deficit so far during the year in absolute terms was recorded amounting US $ 795 million in the month of June, the trade deficit widened significantly in comparison to June 2017 level of US $ 554…
Latest Central Bank External Sector Performance highlights that with the receipt of the fifth tranche under the IMF-EFF of US $ 252 million and proceeds of the third tranche from the divestiture of Hambantota Port amounting to US $ 585 million, the level of gross official reserves of the country increased to US $ 9.3…
50 top expert speakers and panelists are lined up to speak at Sri Lanka’s foremost economic event – Sri Lanka Economic Summit (SLES) 2018. This is the 18th consecutive year that the summit is being organised by the Ceylon Chamber of Commerce, making this a premier forum for economic discussion and one that is not…
The Sri Lankan rupee had depreciated by 5.0% against the US Dollar ($) during the year up to 27 August 2018, latest External Sector Performance report of the Central Bank of Sri Lanka outlines. Furthermore, reflecting cross currency movements, the Sri Lankan rupee depreciated against the euro, the pound sterling, the Japanese yen and the…
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