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Colombo stocks in a slumber to finish the week
June 22, 2018 (LBO) – The Colombo Stock Exchange finished the week with not a bang, but a whimper. Stocks finished flat with both major indices (ASPI and S&P SL 20) closing almost unchanged. Turnover was very light at Rs277mn (US$1.7mn). The recent trend of foreign selling continued with today’s net foreign sales of Rs72mn […]
PropertyGuru Asia Property Awards (Sri Lanka) 2018 finalists announced
Jun 22, 2018 (LBO) – Sri Lanka’s best developers are now officially finalists for the second annual PropertyGuru Asia Property Awards (Sri Lanka) competition, which is being held for the very first time in Colombo on 12 July 2018. More than a dozen companies have been shortlisted for the industry’s highest honours to celebrate excellence […]
‘s promised act of parliament
June 22, 2018 (LBO) – Yesterday the magistrates court in Sri Lanka, hearing a case related to the country’s most prominent financial scandal, further remanded Arjun Aloysius and Kasun Palisena till July 5th. When July 5th arrives, the two would have spent over 5 months in remand without bail. The media cover the proceedings every […]
Nansen Vessel arrives in Colombo to conduct survey on marine resources
Currently, the most advanced research vessel in the world, the Dr Fridtjof Nansen arrived in Colombo to conduct surveys on fisheries resources and the marine ecosystem. The survey, starting in Colombo on 24 June 2018 will cover the continental shelf and upper slope of Sri Lanka until 16 July 2018. The last visit of a […]
“AMCHAM Gives Back” sponsors CPS boys development centre activities
The American Chamber of Commerce in Sri Lanka [AmCham] recently donated their proceeds from the AMCHAM Ball and other activities held in 2017, to the Child Protection Society Boys Development Centre.The donation was used to fund structural refurbishment, purchasing of new computers and towards the education of the children at the Centre. “AMCHAM Gives Back” […]
Uswatte opens state-of-the-art biscuit factory in Millaniya
Jun 22, 2018 (LBO)- Uswatte Confectionery Works, Sri Lanka’s oldest confectionery manufacturer opened their latest factory in their premises at Millaniya. The state-of-the-art factory will focus exclusively on the manufacturing of biscuits and signifies the entry of Uswatte into Sri Lanka’s biscuit market. The factory was be declared open by Prime Minister Ranil Wickremesinghe including […]
Anilana (ALHP) reports another loss as east coast tourism struggles
June 21, 2018 (LBO) – Colombo Stock Exchange listed Anilana released financial results for the quarter and the year ended March 31, 2018.The loss for the quarter was Rs104mn, and the year was Rs330mn.These results are similar to the prior year where the company lost Rs276mn. Anilana was one of a few companies that made […]
Cabinet approval for electricity pricing mechanism expected by Sept: IMF
June 22, 2018 (LBO) – Cabinet approval for an automatic tariff adjustment mechanism for electricity under the 2015 tariff methodology is expected by September, an International Monetary Fund (IMF) report said. The 2015 tariff methodology introduces price stability by fixing tariffs over a period of six months, protecting end-users from volatility in the exchange rate, […]
Sri Lanka May inflation 2.1-pct, Up from April 2018
Jun 22, 2018 (LBO) – Sri Lanka’s headline inflation measured by National Consumer Price Index (NCPI) rose to 2.1 in May, the Census and Statics Department said Thursday. The NCPI decreased to 1.6 percent in April, lowest since February 2016, from 2.8 percent in March 2018. Compared to month-on-month changes, NCPI in May 2018 has increased […]
CA Sri Lanka qualification comparable to a Master’s Degree: UK’s NARIC
The CA professional qualification of the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) received a renewed boost recently after the National Academic Recognition Information Centre (NARIC) based in the United Kingdom said that the CA qualification is comparable to a Master’s Degree standard. The announcement was made by NARIC following an independent […]
Colombo stocks snap losing streak, turnover weak
June 21, 2018 (LBO) – The stock market in Sri Lanka finally snapped a long losing streak finishing up slightly on the day. The major indices (ASPI and the S&P SL 20) both finished marginally in the green after spending most of the day in the red. Turnover was weak again at Rs416mn (US$2.6mn). Net […]
‘s progress closely despite their withdrawal from UNHRC
June 21, 2018 (LBO) – Outgoing US Ambassador Atul Keshap has met with senior Sri Lankan officials to convey the assurance of the United States government on human rights front despite their withdrawal from the United Nations Human Rights Council.Ambassador Keshap has said that the US will remain fully engaged with the Sri Lankan government […]