The benchmark all share price index (ASPI) of the Colombo Stock Exchange (CSE) recorded significant gains outperforming all other main indexes around the globe during the month of September. The ASPI gained 12% in September and in value terms by Rs. 279.6 billion. The S&P SL20 index, which features the CSE’s 20 largest and most…
Total investment of USD 18.5 million EU-GMP compliant plant eyes Exports Morison PLC, the largest oral solid dosage pharmaceutical manufacturer in Sri Lanka and a subsidiary of Hemas Holdings PLC, ceremonially opened their new state-of-the-art manufacturing plant and research & development facility in the presence of Honourable Prime Minister Mahinda Rajapaksa on the 02nd of…
Says it has presented facts to President in expectation of pragmatic solution to oil palm ban Projects significant saving in foreign exchange outflow for imported palm oil, if local production allowed to grow Business leaders pledged to continue their advocacy, in the national interest, on behalf of Sri Lanka’s beleaguered palm oil industry with the…
Sri Lanka Telecom (SLT) and Mobitel partnered with ‘Manusath Derana’ to help transform 25 decommissioned Sri Lanka Transport Board (SLTB) buses into modern and fully equipped libraries. These library buses will contain reading facilities, WiFi connectivity and other such support systems ready to enable children to connect with the information world. These libraries will act…
Headline inflation as measured by the year-on-year (Y-o-Y) change in the Colombo Consumer Price Index (CCPI, 2013=100)1 marginally decreased to 4.0% in September 2020 from 4.1% in August 2020. This was driven by the statistical effect of the high base prevailed in September 2019. Food inflation (Y-o-Y) decreased to 11.5% in September 2020 from 12.3%…
State Minister for Finance, Capital Market, and State Enterprise Reforms Ajith Nivard Cabraal requested foreign investors not to be dissuaded by the recent unwarranted rating downgrade and the erroneous analysis published recklessly by Moody’s Investors Service, but to be guided by improving economic conditions. “Foreign investors, we are advising them not to be dissuaded by the recent…
The Colombo Stock Exchange (CSE) has demonstrated noteworthy performance recording consistent gains in the All Share Price Index of 31% and S & P Index of 27% since reopening on 11th May 2020. Sri Lanka is one of the markets that has recovered the fastest from the impact of the Coronavirus pandemic in comparison to…
Newly-appointed Ambassador to China Dr. Palitha Kohona assures his fullest support in Tourism Promotion Sri Lanka Tourism is working with the Sri Lankan Missions Overseas, through collaborations, with the intension of coordinated and targeted tourism promotions in the new normal. In this context, visit to Sri Lanka Tourism by Dr. Palitha Kohona, the newly appointed…
Moody’s Investors Service yesterday (29) downgraded the long-term foreign currency deposit ratings of Bank of Ceylon (BOC), Hatton National Bank PLC (HNB) and Sampath Bank PLC (Sampath) to Caa1 from B3, and the banks’ long-term local currency deposit ratings to Caa1 from B2. At the same time, Moody’s has downgraded the Baseline Credit Assessment (BCA)…
Consul General of Sri Lanka Manorie Mallikaratchy, making a presentation on Sri Lanka as a tourist destination, called for a paradigm shift on how the tourism and travel sector is perceived in the new normal era and invited the Chinese tour and travel industry to explore boundless possibilities between China and Sri Lanka in reshaping…
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