21 September 2018
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Benefits to SL banks from pawning guarantee temporary: S&P

goldBenefits from a state guarantee for gold-backed loans (pawning) will be temporary, a report by Standard & Poor's, a rating agency said. Read more...

Commercial Bank to buy Indra Finance for Rs. 870 mn.

 

commercial bankCommercial Bank of Ceylon PLC announced in a Stock Exchange filing last week that it was buying Indra Finance Limited, a licensed finance company, for a total price of Rs.870 million subject to all relevant statutory and regulatory approvals and the satisfactory conclusion of a due diligence on Indra Finance. Read more...

Ceylon tea promoted at north America's food and beverage fair 2014

sl-tea-1Continuing the vigorous campaign to promote Ceylon Tea in the United States, the Embassy of Sri Lanka in Washington DC and the Sri Lanka Tea Board organized the Sri Lankan pavilion at the 2014 Summer Fancy Food Show, North America’s largest food and beverage fair, which was held from June 29 to July 1, 2014 at the Jacob K. Javits Convention Center, New York. Read more...

Global bank profits hit US$ 920B as Chinese lenders boom

chinees lenderChina's top banks accounted for almost one-third of a record US$ 920 billion of profits made by the world's top 1,000 banks last year, showing their rise in power since the financial crisis, a survey showed on Monday. Read more...

Sri Lanka Says No To IOC

ioc-1The Sri Lankan government has rejected an offer from the Indian Oil Corporation (IOC) to upgrade the facilities at the Sapugaskanda oil refinery. Read more...

3rd Swiss-Sri Lanka Business and Investment Forum 2014

 

helplanka 1The Embassy of Sri Lanka in Germany in collaboration with the Swiss Asian Chamber of Commerce, Switzerland successfully concluded the 3rd Swiss Sri Lanka Business and Investment Forum 2014 on the 12th June 2014 at the Zurich Yacht Club in Zurich, Switzerland.

Read more...

Sri Lanka rupee tad weaker on importer dlr demand

 

money slThe Sri Lankan rupee traded slightly weaker on Friday as importer dollar demand offset inflows from remittances and exporter conversions, dealers said.

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AG warns of likely fuel crisis

diesel shedThe Auditor General has warned of a possible fuel crisis in the country because of the dilapidated condition of the network of pipelines which are being used by the Ceylon Petroleum Storage Terminals Ltd (CPSTL) to carry refined petroleum products.

The Committee on Public Enterprises (COPE) took up the Auditor General’s report for discussion at its June 20 meeting held in the parliamentary complex. Read more...

Economic growth slows down in Q1

money slEconomic growth slowed down to 7.6% in the first quarter of 2014, down from 8.2% in the quarter ended December 2013 and 7.8% in the quarter ended September 2013 although apparels, hotels, exports and construction sectors showed strong growth, official data showed. Read more...

Treasury cautious on growing debt

debt increaseSays exports need competitive exchange rate
Echoing concerns raised by economists over the last few years, the Treasury said low revenue generation and growing debt would create a vicious cycle of deficit, debt and interest payments. Read more...

Rubber at risk of becoming a lost heritage

rubberA top industrialist has warned that the country's rubber industry, once a major export sector, could soon become a lost heritage. Read more...

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