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Reuters: Sri Lankan stocks edged up Monday as investors picked up telecommunication and banking shares, while retail investors made speculative plays, dealers said. The Colombo Stock Exchange’s main index, or all share price index (ASPI), ended 0.1%, or 5.83 points, firmer at 5,915.90. The index had risen 19% in 15 sessions through to Sept. 17 ...
Expolanka Holdings PLC’s subsidiaries Expolanka (Pvt.) Limited, Expolanka Freight (EFL) and Hello Corp (Pvt.) Ltd walked away with top honours with two Gold, one Silver and a Merit Award at the National Chamber of Exporters Awards Ceremony for the Year 2011, held in Colombo. Expolanka Limited, the pioneer exporter of Sri Lanka’s fresh fruits and ...
Niru Lanka (Pvt) Ltd. opened its new office at Access Towers, Union Place last Thursday, which will handle sorting and grading of diamonds and dispatching orders for customers of prestigious Niru Diamonds Ltd., Israel. The office was declared open by Gem and Jewellery Authority of Sri Lanka Chairman Prasad Galhena and the event was attended ...
Leaving nobody out in the cold In India, the Rangarajan Committee on Financial Inclusion defined the concept as: “The process of ensuring access to financial services, timely and adequate credit where needed by vulnerable groups such as weaker sections and low income groups, at an affordable cost.” At the recent FutureGov SAARC Summit in Colombo, ...
The Securities and Exchange Commission of Sri Lanka has issued a consultation paper aimed at tightening regulations pertaining to disclosures and governance in related party transactions.
Asia Wealth Management is urging retail investors to ‘pull up their socks,’ suggesting a more confident approach to equities investment. Here are excerpts from Asia Wealth’s weekly review: The market has healed so fast within a very short period lowering the year-to-date loss to -2.7%, despite reaching highs of negative 20%. There are many explanations ...
The Commercial Bank of Ceylon has opened a Branch in the scenic hill country town of Maskeliya, extending its award winning services to residents and travellers to this tea-growing region. Located at No. 244-246, Main Street, Maskeliya, the Bank’s 221st Branch was inaugurated by Commercial Bank Chairman Dinesh Weerakkody. The new branch is computer-linked to ...
The hearing of the alleged breach of the Mergers and Acquisition Code by Melstacorp Ltd., over Lanka Milk Foods (LMF) was taken up at the Magistrate’s Court on Friday 21 September. Defence Counsel C.R. De Silva, President’s Counsel, appearing on behalf of the defendant company, took up objection that the Mergers and Acquisitions code was ...
Previously observed proceedings of Sri Lanka’s Fonseka and Malaysia’s Anwar Ibrahim Here to observe proceedings re Rishad Bathiudeen M.P. Acted as Counsel on world’s longest sea chase incident FV Viarsa 1 The Inter Parliamentary Union (IPU) observer, Australian Queen’s Counsel Mark Trowell has arrived in Sri Lanka today morning. “I am here on behalf ...
$ 450 m mega project to be completed in 2014 By Uditha Jayasinghe The Government has leased the iconic Transworks House land to India’s Krrish Group for 99 years at $ 49 million, whilst the $ 450 million mega project is slated to be completed by 2014. The land encompasses the Transworks House, a colonial ...
Saskia Fernando Gallery and Breese Little Gallery will host a dual exhibition of drawings by Chandraguptha Thenuwara and Jagath Weerasinghe, staged simultaneously in London and Colombo during the next couple of weeks. Titled ‘Drawings’ the exhibitions will present Thenuwara and Weerasinghe’s negotiations of this medium, investigating drawing as a site to negotiate boundaries, pol...
Khaleej Times: Sri Lankan efforts to increase its export of skilled workers to the UAE were the topic of discussion in a gathering of diplomatic officials at an overseas employment promotion seminar held on 13 September. At the event, officials addressed local recruiters and employers on the procedures and benefits associated with hiring workers from ...
President Mahinda Rajapaksa on Thursday held meetings with the Indian President and the Prime Minister and discussed key issues of mutual interest to the two nations. President Rajapaksa, who is in India on a three-day official visit, met the Indian President Pranab Mukherjee and the Prime Minister Manmohan Singh to discuss bilateral issues, including fishermen ...
The Central Bank of Sri Lanka (CBSL) recently provided a Technical Assistance (TA) to the Maldives Monetary Authority (MMA) aimed at developing foreign reserves management skills of the Maldivian Central Bank. This program helped to build MMA’s institutional capacity to formulate foreign reserves management policies and procedures and to manage its foreign reserves so as ...
DOCTORS unions and the Government have not always managed to get along as the masses can attest but the latest demand of allowing public doctors to work in private hospitals may result in another serious disagreement. Sri Lankan doctors’ union, the Government Medical Officers’ Association (GMOA) says the Health Ministry was appointing inexperienced doctors ...
The Central Bank, with the view to further improving the standard of business conduct and good market practices for the effective and efficient functioning of the foreign exchange trading activities in Sri Lanka, has issued the Banking Act direction No. 1 of 2012 on foreign exchange trading activities of licensed commercial banks.
Renowned as the best wayside pit stop in restaurant culture, Wayamba Café Forest in Kurunegala will go Vegas style in signage and in the services offered at the restaurant on the upper floor and pastry corner on the ground floor, with a the multi flavoured ice cream parlour as an added facility. Ever since their ...
The Sri Lankan Government is making serious efforts in rehabilitation of former Tamil Tiger combatants, their reintegration into society and reconciliation with the minority, a high ranking Russian Government official said. Konstantin Dolgov, Russian Foreign Ministry Commissioner for Human Rights, Democracy and the Rule of Law, and Ambassador-at-Large, said the situation in terms of human ...
The year-to-date net foreign inflow has surpassed the Rs. 30 billion mark as the Colombo stock market bounced back yesterday on the strength of a fresh round of buying, following profit taking early in the week. After a small outflow Rs. 31 million on Monday, the market has seen net foreign buying of nearly Rs. ...
Sri Lanka’s telecommunication sector has lost approximately Rs.8 billion by way of exchange losses, as the majority of telecom firms operating in the country are exposed to foreign exchange borrowings, according to Telecommunication Regulatory Commission (TRC) Director General Anusha Palpita.
The Central Bank (CB) yesterday in a statement issued new directives on foreign exchange activities that broadly cover market practices and ethical standards. The bank, with the view to further improve the standard of business conduct and good market practices for the effective and efficient functioning of the foreign exchange trading activities in Sri Lanka, ...
Reuters: Stocks fell 1.4 per cent yesterday as investors booked profits across the board in an overbought market after a 15-session rally. The Colombo Stock Exchange’s main index, which fell 2.2 per cent in early trade, recouped its early losses to end 1.04 per cent, or 61.67 points, weaker at 5,849.14. “We are going to ...
In a move to guide the young executives and school leavers on unlimited opportunities, a career guidance forum titled ‘103 Top Global Qualifications; One Free Seminar’ will be held on 22 September at 9 a.m. at RCU Skills Centre, Royal College, Colombo 7. The free half-a-day seminar is organised by CICRA Holdings as part of ...
“Genuine software, ultimately, is about optimisation rather than legalisation. Especially now that Sri Lanka is moving quickly, the economy will pick up even faster through partnerships with China, India and other developing countries. It’s the perfect time for companies to make sure they are competitive. This means having the right IT systems in place including ...
The Silvas are at it again. A week dominated by news of political brats on the rampage once more, this time directing their rage at an Army Major, ended with the soldier recanting his story and the two main suspects in remand being transferred to prison hospital on “medical” advice. The whole incident smacked of ...
Reuters: Stocks fell one per cent on Tuesday from an eight-month high, snapping a four-day gaining streak as investors booked profits across the board. The Colombo Stock Exchange’s main index ended 0.98 per cent, or 58.28 points, weaker at 5,910.81. “The market is consolidating with a little bit of profit-taking and getting ready for the ...
Cabraal says that price pressures will remain, keeps policy rates and growth figures steady The Central Bank kept policy rates unchanged yesterday, on expectations that inflation would remain contained to single digit levels on policy changes to reduce demand. The concerted efforts by the Central Bank and the Government earlier this year to curb the ...
Issue oversubscribed by two times, says Central Bank The Central Bank has had its latest issue of Sri Lanka Development Bonds oversubscribed by two times, bringing the total bid to US$ 121.05 million, the monetary institution said in a statement. The Central Bank of Sri Lanka, on behalf of the Government of Sri Lanka, ...
Commendable achievements Over the years Sri Lanka has gained a considerable reputation for its achievements in social development. It punches above its weight on the UNDP’s Human Development Index. It has also performed very well in meeting the internationally agreed Millennium Development Goals (MDGs), which focus on indicators related to poverty, health, education and gender ...
The Asian Development Bank (ADB) is concentrating on developing nine sectors including infrastructure in Sri Lanka and the far eastern region including Vietnam, Cambodia and Laos to foster economic development. “Asian Development Bank has assisted sub regional economic cooperation in the Greater Mekong Sub region (GMS) to enhance their economic relations, covering nine priority ...