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Sri Lanka key market for Indian exports

Sri Lanka key market for Indian exports

🕔22:27, 15.Apr 2016

Sri Lanka, Nepal and Bangladesh have emerged as the major destinations for India’s engineering exports together accounting for a sizeable chunk of $5.17 billion, revealed an analysis by engineering exports promotion council (EEPC). Sharing the info chairman of the EEPC

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Zuckerberg unveils 10-year plan for FB

Zuckerberg unveils 10-year plan for FB

🕔07:37, 13.Apr 2016

Facebook CEO Mark Zuckerberg laid out a 10-year plan to connect the world that sounded as much like a political cause as a grab for potential billions in dollars. In a sweeping address that took on sharp political tones at

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Zambian Government woos Sri Lankan investors

Zambian Government woos Sri Lankan investors

🕔07:58, 12.Apr 2016

Zambia has urged Sri Lankan business executives to take advantage of the investment opportunities in the Multi Facility Economic Zones (MFEZs) in the country, as possible locations for industries. Commerce, Trade and Industry Minister Margaret Mwanakatwe said trade and investment

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Shares end flat; LOLC helps erase early losses

Shares end flat; LOLC helps erase early losses

🕔07:48, 12.Apr 2016

Sri Lankan shares ended steady on Monday, with big gains in Lanka Orix Leasing Company Plc erasing early losses as concerns over macroeconomic stability continued to weigh on sentiment, dealers said. The benchmark stock index ended unchanged at 6,275.62, at

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HSBC ceases Primary Dealership with CB

HSBC ceases Primary Dealership with CB

🕔17:36, 31.Mar 2016

Mar 31, 2016 (LBO) – Sri Lanka’s Central Bank said in a statement that the Hongkong and Shanghai Banking Corporation (HSBC) will cease to operate as a Primary Dealer from tomorrow. HSBC will, however, continue to function as a Dealer

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Hero acquires 60% stake in Lankan company

Hero acquires 60% stake in Lankan company

🕔08:06, 24.Mar 2016

Hero Cycles India’s largest bicycle manufacturer has picked up 60 per cent stake in Sri Lanka’s BSH Ventures Pvt Ltd. which has a license to manufacture popular British brand Raleigh Cycles. The move will open up opportunities in the European

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Government looks to maintain policy consistency

Government looks to maintain policy consistency

🕔18:35, 14.Mar 2016

Sri Lanka will strive to tighten its belt and maintain policy consistency to improve its debt rating and help make capital Colombo a global financial center, the country’s finance minister told CNBC on Monday. The new administration will raise value-added

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US, Sri Lanka expand economic partnership

US, Sri Lanka expand economic partnership

🕔07:53, 11.Mar 2016

Representatives from the Millennium Challenge Corporation (MCC), an independent U.S. development agency, are visiting Sri Lanka this week to begin a partnership to overcome key challenges to economic growth and poverty reduction.  The delegation met with President Maithripala Sirisena, Prime

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S&P cuts Sri Lanka outlook to negative on funding pressures

S&P cuts Sri Lanka outlook to negative on funding pressures

🕔17:04, 10.Mar 2016

Standard & Poor’s cut Sri Lanka’s outlook to negative from stable citing worsening external and fiscal indicators, less than two weeks after Fitch Ratings lowered its credit ratings, Bloomberg reported. S&P affirmed the island nation’s B+ long-term and B short-term

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Cathay says Sri Lanka traffic strong

Cathay says Sri Lanka traffic strong

🕔09:01, 10.Mar 2016

Cathay Pacific Airways (0293) said today that performance of India routes was “satisfactory’’ last year, while passenger traffic to Colombo in Sri Lanka “grew strongly.’’ In October last year, the carrier launched daily direct flights to Colombo from four flights

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Moody’s assigns B1 Issuer ratings to Sampath Bank

Moody’s assigns B1 Issuer ratings to Sampath Bank

🕔15:11, 24.Feb 2016

Moody’s Investors Service, (“Moody’s”) has assigned an issuer and long term local currency deposit rating of B1 to Sampath Bank PLC and short-term ratings of non prime. Moody’s has also assigned the bank with a CR Assessment of Ba3(cr). The assigned long-term

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Risk-based capital adequacy requirement by CSE

Risk-based capital adequacy requirement by CSE

🕔17:40, 16.Feb 2016

The Colombo Stock Exchange (CSE) is in the process of implementing a Risk-based Capital Adequacy Requirement to all Stockbroker Firms who are Members/Trading Members of the CSE and licensed by the Securities and Exchange Commission of Sri Lanka (SEC). The

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IMF puts conditions to decide on Lanka’s request

IMF puts conditions to decide on Lanka’s request

🕔09:09, 12.Feb 2016

The International Monetary Fund (IMF) says approving Sri Lanka’s request for fresh funding will depend on some key conditions. Gerry Rice, Director at the IMF Communications Department said that the authorities in Sri Lanka have expressed interested in a Fund

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Hakeem seeks the support of Turkish Airlines

Hakeem seeks the support of Turkish Airlines

🕔00:22, 6.Feb 2016

Minister of City Planning and Water Supply Rauff Hakeem who is on an official visit to Turkey met with the Deputy Chairman and CEO of Turkish Airlines Dr. Temel Kotil and other senior executives. Among matters discussed were closer cooperation between

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IMF tells Lanka to bolster its economic defenses

IMF tells Lanka to bolster its economic defenses

🕔20:38, 5.Feb 2016

The International Monetary Fund (IMF) today emphasized on the urgent need for Sri Lanka to bolster its economic defenses. An IMF staff mission visited Colombo February 1-5 to discuss recent economic developments and policies for the year ahead. The team met

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Bahrain, Sri Lanka discuss economic relations

Bahrain, Sri Lanka discuss economic relations

🕔05:20, 2.Feb 2016

Industry, Commerce and Tourism Minister Zayed Al-Zayani today received Minister of Industry and Commerce of Sri Lanka, Risad Badhiutheen, and reviewed topics of joint interest. Al-Zayani expressed keenness to push economic cooperation to level of ambition, underlining the role of

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Sri Lanka takes stake in Google balloon Internet venture

Sri Lanka takes stake in Google balloon Internet venture

🕔17:13, 1.Feb 2016

Sri Lanka’s government announced Monday it would take a 25 percent stake in a joint venture with Google designed to deliver a high-speed Internet service powered by balloons and that tests would begin this month, phys.org reported. Telecommunications Minister Harin

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Sri Lanka looks for investments from China

Sri Lanka looks for investments from China

🕔19:35, 26.Jan 2016

The Sri Lankan government said that it has ratified agreements that will help secure investments from rapidly growing China and India. Sri Lanka’s Foreign Minister Mangala Samaraweera told parliament that Sri Lanka is also building up prospects for investments from

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UAE, Lanka promote MEASA investments

UAE, Lanka promote MEASA investments

🕔07:13, 25.Jan 2016

Essa Kazim, governor of Dubai International Financial Centre, or DIFC, welcomed a high-profile Sri Lankan delegation led by Finance Minister, Ravi Karunanayake. The discussions held as part of the visit sought to reinforce business ties and investment relations between the

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Duty changes hit growth in Maruti’s exports to Sri Lanka

Duty changes hit growth in Maruti’s exports to Sri Lanka

🕔14:59, 20.Jan 2016

Maruti Suzuki’s exports to Sri Lanka, the biggest foreign market for it last year, are losing pace, thanks to an increase in import duty by the island nation. Last year, Sri Lanka had overtaken markets like Chile and the Philippines

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