Foreign investments in the CSE, including both primary and secondary market foreign exchange flows, recorded a marginal net inflow of US $ 0.3 million or US $ 300,000 during the month of June 2018, latest External Sector Performance data highlights. Consequently, cumulative net inflows to the CSE in the first half of 2018 amounted to…
The Monetary Board cancelled the licence issued to Central Investment and Finance PLC (CIFL) with effect from 05.03.2018 in accordance with Section 37(3) of the Finance Business Act. The Central Bank of Sri Lanka is pleased to announce the commencement of compensation payments for insured depositors of CIFL with effect from 27 August 2018 in…
Reuters – Sri Lankan shares ended weaker on Monday to post their tenth session of declines in 11, as worries over new tax proposals weighed on investor sentiment. However, foreign investors bought beaten-down stocks, limiting the downside. Foreign buying accounted for about 30 percent of the day’s turnover of 246.2 million rupees ($1.54 million), which…
Reuters – The Sri Lankan rupee hit an all-time low of 161.10 per dollar on Monday, dragged down by importer dollar demand and less inflows of the greenback, dealers said. The rupee closed at 161.05/20 per dollar, compared with Friday’s close of 160.85/161.00. The local currency surpassed its earlier record of 160.96 hit in the…
Performance highlights • Net Interest Income (NII) of Rs.992Mn is a growth of 45% for the 1st Half (1H) of this year compared to the 1H of 2017 • Fees and commission income of Rs.101Mn is an improvement of 45% for the 1H of 2018 compared to the 1H of 2017 • Other income of…
In terms of the provisions of the Financial Transactions Reporting Act, No. 6 of 2006 (FTRA), the Financial Intelligence Unit (FIU) of Sri Lanka entered into a Memorandum of Understanding (MOU) with the Insurance Regulatory Commission of Sri Lanka (IRCSL) on August 01, 2018 at the Central Bank of Sri Lanka to establish a framework…
Sri Lanka’s alcohol sales had tumbled by 11% in a 6 months period due to recent Excise Duty on liquor bases on alcohol, Minister of Finance and Mass Media Mangala Samaraweera had told Parliament last week. Minister had made these comments while taking part in second reading debate on the Excise (Amendment) Bill. The Minister…
Ranked No 2 for Honesty as well as Financial Performance among all corporates in the country The Commercial Bank of Ceylon has been reaffirmed the most respected bank in Sri Lanka for the 14th year running and the fourth most respected corporate entity in the country in the 2018 rankings of the Most Respected…
Renewed Financial Market Correction: A vulnerability for Debt Cost rise of some Emerging and Frontier markets – Moody’s Moody’s Investors Service says the fallout from the correction in Turkey’s (Ba3 negative) exchange rate and asset prices highlights again the external vulnerability and sensitivity to a rise in the cost of debt of some emerging…
Sri Lanka’s Leverage King titled Billionaire Ashok Pathirage owned Softlogic Group’s Asiri Health will launch a MBBS degree Program in partnership with the University of Aberdeen, the latest annual review of the company notes. “Discussions are taking place with the University of Aberdeen, aimed at launching an MBBS degree through which local students can aspire…
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