Reuters – Sri Lankan share index on Monday touched its lowest close in 11 weeks, pulled down by blue-chips stocks in a moderate turnover, as many market participants were on leave ahead of the traditional Sinhala-Tamil New Year this week, brokers said. The Colombo stock index ended 0.38 percent down at 6,431.10, its lowest close…
This year Sri Lanka will despatch its largest ever business and trade delegation targeting the Commonwealth. Sri Lanka is also scheduled to unveil its new country branding & slogan for its ICT sector in London next week. “Sri Lanka is one of the Strategic Partner Countries of 2018 CBF. Therefore the Department of Commerce under…
The level of gross official reserves of the country declined to US dollars 7.7 billion, equivalent to 4.3 months of imports, at end January 2018 compared to US dollars 8.0 billion at end 2017, primarily due to a periodic payment for the obligations at the Asian Clearing Union (ACU) during the month. Total foreign assets,…
In keeping with the Sri Lankan government’s development strategy, Vision 2025, the Asian Development Bank (ADB) has initiated a comprehensive development plan for the Colombo-Trincomalee Economic Corridor (CTEC) to address some of the development challenges faced by the country. An economic corridor development plan with a potential to generate 1.2 million new jobs by 2030…
The 13th Exporters Forum held at the Export Development Board (EDB) last week provided a platform to discuss many issues faced by the exporters. The issues ranging from certain provisions in the New Inland Revenue Act (IRA) to land allocation for export projects were widely discussed at the forum. Several exporters who were present at…
Sri Lanka’s external sector demonstrated an improvement in January 2018 with higher inflows to the financial account in spite of the widening of the trade deficit. While earnings from merchandise exports increased, expenditure on imports also increased significantly outweighing the performance in export earnings during the month. Nevertheless, reversing the moderating trend observed during the last year, tourist earnings recorded…
~ Moves over 7000CBM of equipment from China to Moneragala Continuing to support the nation’s power and energy sector, Advantis Projects announced that it had been appointed as the logistics solutions provider for COSCO Shipping Project Logistics Co., LTD who secured the total transportation of the country’s first 10MW biomass power plant project, being commissioned…
At present, foreign direct investments are being received for village level agricultural products programme implemented under the Grama Shakthi People’s Movement. Accordingly, a group of Swedish and Indian investors are keen to provide their assistance in establishing a Cassava (Manioc) Flour Plant and to promote the cassava cultivation in the country. It is expected to…
Reuters – Sri Lankan shares slipped on Friday from their highest close in a week hit in the previous session, led by blue-chip stocks with the day’s turnover slumping to a 15-week low ahead of the traditional Sinhala-Tamil New Year later next week, brokers said. The turnover stood at 134.6 million rupees ($866,152), its lowest…
~ Has been in the top 10 as the most valuable consumer brand in Sri Lanka for 15th consecutive year Strong financial performance as well as a relentless focus on customers and innovation, have paid off, with HNB being ranked as one of the Country’s top 10 most valuable brands by the prestigious, global, Brand…
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