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Sat, 21 Sep 2024 Today's Paper
Despite a strong top line performance, the bottom line of Sri Lanka’s diversified blue chip Hayleys PLC fell victim to significantly higher finance costs stemming from recent acquisitions and the e
Commercial Bank of Ceylon PLC (ComBank) yesterday showed it has what it takes to withstand the shocks in the wider economy and could still post strong profits and growth.
(Colombo) REUTERS: Eight Western countries stayed away from a meeting with Sri Lanka’s government yesterday to register their protest against President Maithripala Sirisena’s decision to dissolve Parliament, diplomatic and government sour
Foreign governments have not withdrawn grants, project loans and economic programmes with Sri Lanka, said Sarath Amunugama, who was appointed as Foreign Minister amid a constitutional crisis.
(London) REUTERS: Sri Lanka’s dollar-denominated bonds tumbled yesterday after President Maithripala Sirisena dissolved Parliament on Friday night and called a general election for January 5 in a move that will likely deepen the country’s
Premier blue chip John Keells Holdings PLC (PLC) yesterday announced plans to execute a share buyback to the tune of Rs.11.1 billion.
Expolanka Holdings PLC returned to profits during the three months ended September 30, 2018 (2Q19), from a loss made in the corresponding quarter, last year, as a result of consistent performance of its core logistics business.
Over the last few years, both economic and historical ties between Sri Lanka and China have grown with China becoming a significant economic partner of Sri Lanka. The Belt and Road Initiative (BRI) is at the centre of this. The Chinese government has
(Colombo) REUTERS: The Sri Lankan rupee fell to a record low yesterday, as political uncertainty triggered by President Maithripala Sirisena’s decision to sack Parliament weighed on sentiment, in line with bonds, market sources said.
The sales dropped at Sri Lanka’s monopoly cigarette player, Ceylon Tobacco PLC (CTC), during its most recent quarter, after two quarters of volume growth, with the government again hiking the taxes in August 2018, which led CTC to jack up the p
Sunshine Holdings PLC’s performance for the September quarter was hurt by the poor agri business led by tea and weak margins in the healthcare segment, due to the controlled prices imposed by the government and higher borrowing costs. The
(Colombo) AFP: Sri Lanka’s largest party announced Saturday a legal challenge to President Maithripala Sirisena’s sacking of Parliament, a move that has plunged the Indian Ocean island nation into fresh turmoil and alarmed the internation
Diversified conglomerate Softlogic Holdings PLC said it will soon be opening its first modern supermarket outlet “with the launch of a truly global market experience” in Delkanda, a rapidly expanding suburb of Colombo. A statement by Soft
The feeble Sri Lankan rupee eroded Dialog Axiata PLC’s bottom line during the September quarter (3Q18) as the country’s largest telco booked a hefty foreign currency translational loss against its do
Anura Priyadharshana Yapa assumed duties as the Minister of State for Finance at the Finance Ministry yesterday. Minister of Finance and Economic Affairs, Prime Minister Mahinda Rajapaksa, ministers Lakshman Yapa Abeywardene and Dunesh Ga
HONG KONG (AFP) - Asian markets turned lower yesterday as investors took their foot off the pedal at the end of a broadly positive week, while the dollar strengthened after the Federal Reserve flagged more interest rate hikes down the line. Energy fi
Sri Lanka may re-negotiate a free trade with Singapore for mutual benefit, after looking at an expert report and a Supreme Court ruling, newly appointed International Trade Minister Bandula Gunewardene said. “Nothing will be stopped in a fit of
SEOUL (AFP) - South Korean President Moon Jae-in sacked his top two economic officials yesterday, the government said, as the world’s 11th-largest economy struggles with slowing growth, rising unemployment and persistent income gaps. Finance Mi
LONDON (AFP) - Britain’s economy has grown at the fastest pace in nearly two years as strong exports and solid household spending offset slumping business investment, data showed yesterday awaiting a Brexit deal. Gross domestic product climbed
LISBON (AFP) - Social networks need better regulation to stop them spreading “fake news” and undermining democracy, disillusioned tech pioneers said at an industry conference that closed in Lisbon Thursday. The issue has come to the fore
COLOMBO (AFP) - The European Union joined a chorus of international voices demanding an end to Sri Lanka’s two-week-old political crisis yesterday, saying the island nation’s international reputation and investments were at risk. Presiden
WASHINGTON (AFP) - The United States this week announced sanctions against three people and nine entities over Russia’s intervention in Ukraine, including for doing business in annexed Crimea.
PARIS (AFP) - The French civil aviation authority said yesterday it had seized a Ryanair plane to get the Irish low-cost airline to repay illegal public aid, the latest in a string of troubles for the carrier. The EU Commission in 2014 rul
NEW DELHI (AFP) - India’s government is to sell more than US$400 million worth of shares left behind by people who fled to Pakistan or China after wars with those countries.
The Tax Appeals Commission (TAC), which had been inactive for some time, has been revived, the Finance Ministry said yesterday. A Finance Ministry statement said the new Prime Minister and Minister of Finance Mahinda Rajapaksa had reappointed Justice
The Central Bank yesterday said the seventh monetary policy for this year will be announced on November 14th at 7.30 a.m. This is the first monetary policy that wo
Sri Lanka Institute of Directors (SLID) in a brief statement yesterday expressed their grave concern on the current political situation and stressed it negatively affects the country’s businesses and international reputation.
(Colombo) REUTERS: The Sri Lankan rupee ended weaker yesterday as outflows from government securities and stocks due to political uncertainty raised dollar demand.
Hayleys group’s coconut-shell based activated carbon manufacturer, Haycarb PLC recorded improved earnings for the September quarter (2Q19) as the group was able to significantly improve its
Cargills Bank Limited (CBL) failed to maintain its growth momentum during the quarter ended September 30, 2018 (3Q18) as growth in new loans stalled and some sizable deposits left the bank, the interim financial accounts showed.
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