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REUTERS - Sri Lankan shares fell for the second straight session yesterday to hit a more than one-week low, due to continued foreign fund outflows, while the rupee ended steady as dollar demand from importers offset exporters’
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Moody’s Investors Service said the economic fallout from the Easter attacks runs deeper than portrayed, as the April 21 carnage has sent tremors across multiple key sectors from fiscal to the external sector, prompting the rating agency to slash its growth projections for the Sri Lankan economy.
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Registrations of motorcars and three wheelers continued to slide in May as people struggled to come to terms with the deadly blow delivered by the Easter Sunday attacks on April 21, that killed many and left the economy paralyzed.
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Amidst dwindling tea yields, high interest rates and declining tea prices, Sri Lanka’s tea industry is seeking a financial relief package for over 100 tea factories that are on verge of collapse. Sri Lanka Tea Factory Owners Association (SLTFOA) members this Monday met Prime Minister Ranil Wickremesinghe and raised the issues faced by the tea factories and requested financial relief.
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Hatton National Bank PLC (HNB) has instituted legal proceedings against Wolters Kluwer Financial Services Australia Pty Limited (WKFS) seeking recovery of approximately US $ 500,000, which the bank had paid to the said company for the implementation and commissioning of an automated financial software. HNB has also prayed for relief from courts in the form of damages valued at US $ 2.82 million or the equivalent Sri Lankan rupees.
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Strong recovery in agriculture amid favourable weather gave a boost to the reeling economy in the first quarter of 2019 (1Q19), as the economic growth for the three months was recorded at 3.7 percent from a year earlier—the highest rate nearly in a year. According to the data released by the
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The Central Bank (CB) mulls setting up a joint committee consisting of the regulatory and non-regulatory stakeholders of the financial industry to ensure the full implementation of the recently launched Roadmap for Sustainable Finance in Sri Lanka by 2030.
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When it comes to Sri Lanka’s national security and sovereignty, nothing seems more guaranteed to generate heated discussion than the spectre of foreign involvement in seaport developments. After years of wrangling, Sri Lanka, India and Japan finally signed a Memorandum of Cooperation on May 28, 2019, to develop the strategically-located Colombo Port’s East Container Terminal (ECT). But the ink was barely dry when disputes broke out again about th
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Premier business chamber, the Ceylon Chamber of Commerce (CCC), is organising a networking session on the theme ‘Rebuilding Business Confidence in Sri Lanka’, providing a platform for its membership to interact with the senior government officials.
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(Colombo) Reuters: Sri Lankan shares ended marginally higher yesterday, hovering near a six-week high hit last week, as trade turnover touched a more than four-month high amid continued foreign fund outflows, while the rupee ended weaker on dollar demand from importers.