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Gain in Bourse’s collective value tops Rs. 400 b since year-to-date lowest level in early June Market cap short of Rs. 400 b to hit all-time-high figure of Rs. 2.6 trillion achieved on 2011 Valentine’s Day Demand for blue chips spearhead yesterday’s rally, joining retail-favoured second tier stocks ASI’s YTD dip now below 5% from 22% ...
By Shanuka Tissera The hype and tension of the ICC T20 Cricket World Cup is exponentially increasing as we edge days closer to the beginning of the most exciting and fastest brand of cricket today. It is sure to be a high adrenaline sporting event that will bring millions of viewers from around the world ...
Despite a reversal in the rate of exports decline and evidence of some improvement, Sri Lanka is actively moving to help its exporters to face the global downturn, with a challenging new $ 12 b export goal set for 2102. “Since you, the distinguished exporters, who account for nearly 80 per cent of Sri Lanka’s ...
In a significant move, the National Lotteries Board (NLB) has signed a long term agreement with the country’s premier printing and packaging company Printcare to supply their scratch lottery tickets. These tickets had hitherto been imported from India, and other countries. The tender to produce 120 million lottery tickets annually was awarded to Printcare ...
Abans recently contributed Laptops to the Knowledge Hub initiative in Sri Lanka, a program spearheaded by Lalith Weeratunga – Secretary to the President of Sri Lanka. Mahinda Chintana – Vision for the Future envisages transforming Sri Lanka into a strategically important economic centre. Part of this vision entails the developing of five strategic knowledge ...
Continuing in its commitment towards strengthening and adding value for customers, Nations Trust Bank PLC recently opened its seventh Foreign Exchange Service Branch at Traveller Global Pvt Ltd. in Kandy. The new foreign exchange branch is strategically located at a central and convenient point in the heart of Kandy and offers customers, sales and encashment ...
Commercial Bank of Ceylon has launched a programme in collaboration with the Central Bank of Sri Lanka to enhance entrepreneurship skills in the Small and Medium Scale Enterprise (SME) sector. The first seminar of this programme was held recently for entrepreneurs who are in the SME and Micro Enterprise sectors in Nuwara Eliya. Officials of ...
Close to 4,900 entries across 16 award categories A record number of Spikes Asia entries have been submitted this year, totalling 4,860 from 23 countries. The largest creative communications festival in Asia Pacific, which kicks off on Sunday in Singapore, is also set to welcome industry professionals from 27 countries who over two insightful ...
The Human Resources Research Program of Lirneasia has prepared and published a directory named “CHOICES – Higher Education Opportunities after A/Levels”. This directory gives out results of one of its researches, Lirneasia plans to carry out several in-depth researches into higher education field of subject. Lirneasia plans to make the directory available at major super ...
The global escalation of commodity prices in the latter part of last decade impacted Sri Lanka’s rice market, with retail prices showing sharp increases for the consumer. The regulatory forces with a ceiling on consumer prices and guaranteed price for paddy did alleviate this problem to some extent. Today it has taken a different turn ...
The Central Bank yesterday said earnings from tourism and workers’ remittances continued to hold up, cushioning the current account of the Balance of Payments (BOP). It said earnings from tourism in July 2012 grew by 23.6%, year-on-year, to $ 100 million, while during the first seven months of 2012, earnings from tourism have grown at ...
Continuing its growth momentum, Orient Finance PLC added yet another milestone with the opening of its doors to the acceptance of fixed deposits. This is subsequent to the company being licensed by the Monetary Board of the Central Bank of Sri Lanka under the Finance Business Act No. 42 of 2011 as a Finance Company. ...
“In order to create long term economic stability, the creation of incremental wealth is imperative,” stated former Hatton National Bank Managing Director and CEO Rienzie Wijetilleke addressing the a luncheon meeting organised by the Sri Lanka – Italy Business Council of The Ceylon Chamber of Commerce. It was also noted at the meeting that whilst ...
One of the largest healthcare systems providers in Sweden, Cambio Healthcare Systems has set up a research and development centre in Sri Lanka and is now poised to expand further with the vision of being the leading healthcare systems provider in the Nordic regions. “Cambio Healthcare Systems is currently one of the largest e-Health providers ...
On Friday (7) afternoon, the eve of provincial council elections in three provinces, a certain gathering took place at 101, Rosmead Place, which houses the corporate offices of Democratic National Alliance (DNA) National List Parliamentarian, Tiran Alles. Consultations that lasted for hours, took place between Alles and UNP Deputy Leader Sajith Premadasa and a few ...
In the last 15 years, the major hospitals invested over Rs. 50 billion by way of total expenditure to increase capacity building within the private healthcare sector by investing in necessary infrastructure, cutting edge technology and continuous development in human capital in the clinical discipline. The centres have created several hundreds of employment opportunities with ...
Over 10 new deals to be signed between China and Sri Lanka next week Impending visit of the most high profile in history, biz team included but no opposition meetings scheduled By Uditha Jayasinghe Over 10 agreements are to be signed during top Chinese legislator Wu Bangguo’s visit to Sri Lanka that will kick off ...
10-day rally checkmated by profit taking on Rs. 2 b turnover; buying returns at tail-end Retailers, who staged a dramatic bull run in recent weeks, propelling indices to rise by over 10%, yesterday took what one broker described as a “well-deserved breather” as profit taking ruled the Colombo Bourse. The ASI after a momentary rise ...
Reflecting his bullishness on post-war rebound in tourism, former Delmege Chairman Ricky Mendis yesterday bought an 8% stake in Serendib Hotels Plc for around Rs. 142 million from Royal Ceramics Plc and its high net worth investor Managing Director Nimal Perera. In total 6.7 million shares of Serendib Hotels transacted via 312 trades for Rs. ...
The Tokyo Stock Exchange (TSE), which is the third largest equity/stock market in the world with a total market capitalisation of US$ 3.3 trillion, has expressed interest to have Sri Lankan listed corporates on the Colombo Stock Exchange (CSE) to be listed on the TSE as Japanese Depository Receipts (JDRs), stated Ambassador of Sri Lanka ...
Sri Lanka’s diamond-swallowing story took an surprising turn Tuesday as police revealed the 1.5 carat stone gulped by Chou Wan, 32, at a gem show was fake, and that the real thief is still out there with the stolen precious stone valued at $13,000. Wan was taken to Colombo National Hospital on Saturday where X-rays ...
It is unfortunate that today many impressions of Sri Lanka in foreign countries are based on unverified facts, and wrong or deliberately manipulated disinformation, carried out by those who once supported the forces of terror. These same elements continue to sow the seeds of division and separatism through various media, and also influence politicians in ...
Corporate earnings of entities listed on the Colombo Stock Exchange have contracted in the second quarter of 2012, says a research report released recently by Lanka Securities Research.
By Maheshi Perera The Central Bank has launched the fourth issue of Sri Lanka Development Bonds (SLDBs), aimed at raising $ 60 million by 24 September. The fresh SLDB’s tenure is three years and will be offered at a rate of US Dollar six month LIBOR plus a margin to be determined through competitive bidding ...
After a 17-month negative run, the active Milanka Index yesterday turned positive making a nostalgic day for investors as the rebound in the Colombo Bourse gathered further momentum. MPI was last positive on 1 March 2011 with a 0.50% gain but was negative since. It finished 2011 with 26% dip whilst by mid-June this year ...
Most senior officialwith 28 years of marketexperience Dhammika Perera appointed Deputy Director with oversight on surveillance, supervision and investigations Acting DG Dissabandara to concentrate on capital market development First stakeholder consultation fixed withbrokers on Friday The Securities and Exchange Commission (SEC) under new Chairman Dr. Nalaka Godahewa has affected the first i...
Madurai: The Tamil Nadu Chamber of Commerce and Industry (TNCCI) in Madurai has urged the Indian government to check the attack on visiting Sri Lankan pilgrims since the travel advisory issued by Sri Lanka will seriously affect the tourism and trade to the state. The TNCCI in a statement pointed out that India-Sri Lanka trade ...
Secretary-General of the Commonwealth Kamalesh Sharma yesterday called on Minister of External Affairs Professor G.L Peiris. The Secretary-General is in Sri Lanka to attend the 58th Commonwealth Parliamentary Conference currently being held in Colombo. The Secretary-General discussed with Minister Peiris the arrangements for the Commonwealth Heads of Government meeting which will be held in Sri .....
TEHRAN (FNA): Sri Lankan officials are concerned that the output of the Arabian Light crude used by the country after oil sanctions against Tehran to produce different oil products cannot be compared to the output of the Iranian Light, saying they are wary of the great loss they have sustained due to the replacement. Sri ...
The third edition of Richlist, the book about the richest and most successful business people in Sri Lanka, has been launched after a hiatus of four years. The book contains short descriptions of each of the people and companies in the book. Important world and Sri Lanka economic data are interspersed throughout the book. The ...