Sri Lanka official reserves fall to USD 7.2bn by end April; YTD rupee appreciation 3.7-pct
May 18, 2019 (LBO) – Sri Lanka’s gross official reserves were 7,212.7 million US dollars by the end of April, down from 7,621.9 million US …
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Foreigners sell Sri Lanka’s stocks as EPF enters the market
May 17, 2019 (LBO) – Foreign institutional investors were net sellers of Sri Lankan equities for the past three consecutive days as the …
Sri Lanka bombings increase economic, external risks; IMF key: Fitch Ratings
May 17, 2019 (LBO) – The tragic Easter bombings in Sri Lanka will result in lower economic growth this year and could increase external financing …
US Secretary of State Mike Pompeo meets Sri Lanka Foreign Minister
May 17, 2019 (LBO) – US Secretary of State Mike Pompeo met with Sri Lankan Foreign Minister Tilak Marapana yesterday, the Office of the …
CBSL to resume FX purchases to rebuild net intl reserves to USD6.9bn by end Dec
May 17, 2019 (LBO) – Sri Lanka’s Central Bank said it is committed to rebuild reserves and allow the exchange rate to function as the first line …
EU issues statement on Sri Lanka’s communal violence
May 17, 2019 (LBO) – The Delegation of the European Union (EU) issuing a joint statement said they were concerned about the recent incidents of …
Sri Lanka projected to grow 3.6-pct in 2019; reach 5-pct over medium term: IMF staff report
May 17, 2019 (LBO) – Sri Lanka’s economic growth is projected to recover to 3.6 percent in 2019, and gradually reach 5 percent over the …
Dipped Products posts healthy growth: Group pre-tax profit up 32-pct in 2018/9
May 17, 2019 (LBO) – Sri Lanka’s Dipped Products Group pre-tax profit was up 32 percent to 1,643 million rupees in 2018/9, the company …
DFCC maintains profitability under volatile market conditions
DFCC’s Total Assets grew by LKR 15,652 million to LKR 390,560 million DFCC recorded Tier 1 and total capital adequacy ratios of 10.34% and 15.45% …
Nedal Salem takes helm of Ceylon Tobacco Company
May 16, 2019 (LBO) – Nedal Salem was appointed managing director andchief executive officer of Ceylon Tobacco Company PLC (CTC) effective 15th …
Samsung customers can binge on free K-POP & other content via My Galaxy App
In exciting news for Samsung Galaxy customers, K-POP content is now available FREE on My Galaxy App on Samsung Galaxy smartphones. Increasing in …
Opinion: Fresh frontiers of pharmaceutical innovation
By Sri Lanka Chamber of Pharmaceutical Industry For centuries, human beings have waged a relentless battle against a litany of diseases that have …
Haycarb 2018/9 turnover Rs.20.9Bn: Raw material cost impacts negatively
May 16, 2019 (LBO) – Haycarb PLC reported revenue of 20.9 billion rupees, profit before tax of 1.35 billion rupees and profit after tax of 1.08 …
Sampath Bank’s Net Interest Income up by 23-pct in Q1 2019
Sampath Bank reported a net interest income of Rs. 10.2 Bn for Q1 2019 reflecting a noteworthy growth of 23.2% over the figure reported in Q1 2018, a …
HNB launches its own digital wallet and payment app, Solo eWallet
Laying the foundation for a comprehensive digital payment ecosystem in Sri Lanka, the country’s most innovative bank, Hatton National Bank PLC, …
New Chairman for SLTDA; Kishu Gomes to focus on Sri Lanka Tourism brand promotion
May 15, 2019 (LBO) – Sri Lanka’s Tourism Minister John Amaratunga has appointed Johanne Jayaratne as Chairman of the Sri Lanka Tourism …
Fitch Affirms Hemas Holdings at ‘AA-(lka)’; Outlook Stable
May 15, 2019 (LBO) – Fitch Ratings has affirmed Sri Lanka-based conglomerate Hemas Holdings PLC’s (Hemas) National Long-Term Rating at …
Central Bank extends regulatory action on The Finance Company for another three months
May 15, 2019 (LBO) – Sri Lanka’s Central Bank has decided to extend the regulatory action currently in place on The Finance Company for …
Sri Lanka arrests suspects of mob violence in the island
May 15, 2019 (LBO) – Sri Lanka’s Police continued to arrest and remand dozens of persons linked to communal attacks in several towns in …
Comm Bank records PAT of Rs.3.2Bn in Q1 2019: Performance reflects impact of external factors
May 15, 2019 (LBO) – Sri Lanka’s Commercial Bank of Ceylon PLC has reported gross income of 35.501 billion rupees for the three months …
Nations Trust Bank records subdued performance
May 15, 2019 (LBO) – The Bank’s performance during the quarter ending 31st March 2019 reflected a continuation of the issues witnessed in the …
Opinion: Don’t let children’s future be ruined by getting caught up in a racial conflict
By Harsha de Silva, PhD, M.P(Minister of Economic Reform and Public Distribution) Recovering from a terror attack is easy, recovering from a racial …
USD 70mn loan facility from IDA to strengthen services of Local Govt Authorities
The International Development Association (IDA) of the World Bank has provided a loan facility of USD 70 million to strengthen the service provided …
Sri Lanka Tourism to start new series of promotional campaign from Thailand
May 15, 2019 (LBO) – Sri Lanka Tourism is planning to conduct promotional campaigns in source markets closest to the country. Accordingly, Thailand …