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Wed, 18 Sep 2024 Today's Paper
The government is to introduce the Ruhuna Economic Development Corporation Law soon, which it claims would be applicable to the trade zone in Hambantota.
Hatton National Bank (HNB), Sri Lanka’s second largest private lender by assets recently called on the government to re-evaluate the “unsustainable” high tax regime on the banking sector as it limits the sector’s ability to support other indu
Sri Lanka’s banks managed to overcome in what could become a thorny issue on their capital coming from the first time impact of the new accounting standard on loan loss expenses as the companies built up buffers in the run up to the full implementa
REUTERS (Hambantota): Oman’s oil minister said yesterday he was excited to be part of a Sri Lanka oil refinery project, an indication plans for the sultanate’s involvement may be back on track. The comments by Mohammed bin Hamad al-Rumhy came af
The Development Strategies and International Trade Ministry and the Finance Ministry together will set up a Trade and Productivity Commission (TPC) within next three months to continue with the trade liberalisation process on a structured basis, whil
Sri Lanka missed the opportunity to place the country as a destination for digital innovation with Google Loon project in Sri Lanka, as the Telecommunications Regulatory Commission of Sri Lanka (TRCSL) failed to provide the required spectrum for the
Minister of Industry & Commerce Rishad Bathiudeen said recently that neither the government nor this Ministry has approved the transfer of the profitable Pulmoddai mineral sand deposits. “As we celebrate the 61 year anniversary of Lanka
China’s Export-Import Bank (EXIM Bank) has approved US $ 989 million concessional loan for the Central Expressway Section 1 from Kadawatha to Meerigama. The Finance Ministry said t
The Chamber of Construction Industry Sri Lanka opened the international housing and construction exhibition - ‘Build SL 2019’ for the 15th consecutive year at the BMICH yesterday. The German Chamber of Industry and Commerce has collaborated with
SAN FRANCISCO (AFP) - Tesla chief Elon Musk on Thursday urged workers to make helping with the “biggest wave” of deliveries in the electric car maker’s history their top priority, Business Insider reported. The news website posted a copy of an
The Hindu:A Singapore-based company in which stakes are held by the family members of former Union Minister of State S. Jagathrakshakan of the DMK has been linked to a record foreign direct investment of US$3.85 billion in an oil refin
COLOMBO (Reuters) - Sri Lankan shares fell for the fifth straight session yesterday and posted their lowest close in more than six years, dragged by telecom stocks, but foreign investors’ buying capped the decline. The market now awaits cues from
JAKARTA (AFP) - Indonesia’s national carrier Garuda has told Boeing it will cancel a multi-billion-dollar order for 49 Boeing 737 Max 8 jets after the model was involved in two fatal crashes. The move could spark more cancellations from other major
BEIJING (AFP) - China has lodged a diplomatic protest with the United States after Washington sanctioned two Chinese shipping companies for doing business with North Korea, the foreign ministry said yesterday.
Headline inflation as measured by the year-on-year change in the National Consumer Price Index (NCPI, 2013=100) increased to 2.4 percent in February 2019 from 1.2 percent in January 2019 mainly due to the base effect, Central Bank’s Statistic
Sri Lanka’s guidance space yesterday witnessed much required impetus with the launch of an online employment and entrepreneurship platform for the country’s youth. YouLead, a programme that kicked off 19 mo
Billionaire businessman and corporate leader Dhammika Perera told a recent forum in Colombo that the government must prioritise economic growth focussing on employment generation, contradicting the Prime Minister Ranil Wickremesinghe and his governme
In light of Oman Oil and Gas Ministry denying being part of a US $ 3.85 billion refinery project in Hambantota, Sri Lanka’s Board of Investment (BOI) yesterday said that they were aware Oman Oil Company has ‘firm intention’ in taking
(Paris) AFP: Glyphosate, the world’s most widely used herbicide and the active ingredient in Monsanto’s weedkiller Roundup, is the subject of fierce controversy across the globe and is classified by the World Health Organization as “proba
Sri Lanka’s share index fell for a fourth straight session yesterday to a more than 6-year closing low as investors exited the island nation’s risky assets, while they awaited cues from the third and final vote on the 2019 budget,
Khaadi, an iconic fast fashion retail force, has appointed MTI Consulting for its Sri Lanka market entry. Having carried out an initial market feasibility study, Khaadi has identified the high potential to establish the premium ethnic fashion brand
The sluggish economy and deceleration of vehicle sales are hurting Sri Lanka’s non-bank lenders, as the sector is facing risks raging from weaker asset quality, muted growth, underwhelming profitability and need for higher regulatory capital. Acco
Finance Minister Mangala Samaraweera called on former Finance Minister Ronnie de Mel, yesterday. The meeting took place at the Colombo residence of de Mel. Former Southern Province Chief Minister H.G. Sirisena was also present at the meeting.
In a joint venture, Ceylon Steel Corporation and UAE-based Onyx Group of Companies are investing US $ 100.08 million to set up a cement blending and grinding plant in the Mirijjawila Export Processing Zone, in Hambantota. Development Strategies and I
In the final quarter of 2018, Sri Lanka’s economic growth plunged to the lowest since 2014, reflecting the disastrous impact the 51-day political crisis had on the country’s economy, the data released by the Department of Census and Statistics (D
The government will collaboratively work with the banking sector to bring down the high market interest rates in the country, to boost private investment in order to support economic growth, Prime M
(Singapore) AFP: Singapore rejected yesterday Sri Lankan President Maithripala Sirisena’s allegation it was sheltering a former Central Bank chief wanted for fraud, saying Colombo failed to provide documen
(Colombo) Reuters: Sri Lanka’s share index ended little changed yesterday, hovering near its 5-1/2-year low, as investors awaited direction from the third and final vote on the 2019 budget, market sources said.
The Federation of Information Technology in Sri Lanka (FITIS) has written to Finance Minister Mangala Samaraweera to reconsider the imposition of the 3.5 percent Nation Building Tax (NBT) on all foreign payments using credit and debit cards.
According to MTI’s Corporate Finance and Investment Banking practice, over the next two years, Sri Lanka is likely to witness a strong pipeline of mid-cap merger and acquisition (M&A) deals.
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