Cigarette smuggling costs Sri Lanka Rs.18bn in tax revenue in 2017
The government may have lost Rs.18 billion in cigarette tax revenue as a record 583 million illicit cigarettes were estimated to have smuggled into Sr...
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Financial sector regulators sign MoU for consolidated risk-based supervision
Central Bank Governor Dr. Indrajit Coomaraswamy and representatives of the three regulators, viz, Central Bank Deputy Governor H.A. Karunaratne, SEC D...
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Trade deficit soars on higher vehicle, fuel imports
October trade deficit up to US $ 903mn from US $ 752mn YoY Cumulative trade deficit in 10 months at US $. 8.8bn from US $ 7.6bn Oct. imports up...
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Asia shares round out rough week with fresh losses
Markets sank across the world even as the Fed predicted two interest rate increases next year down from three with the bank trimming its forecast for ...
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Corporate Sri Lanka braces for new budget proposals
Businesspeople won't throw up their arms in despair and tell you that they are nervous about what the budget for the year 2019 would bring, but they a...
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Hutch announces plans to invest US $ 200mn following merger with Etisalat
Merging 2G and 3G operations soon and launch of nationwide 4G in 12 months Merger will end up Hutch having around 2,500 towers across the island ...
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Asian markets edge higher at end of painful week
HONG KONG (AFP) - Asian investors battled to finish a volatile week with some stability yesterday as they weigh the outlook for China-US trade talks a...
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8 companies struggle to reach 1 Jan capital deadline of Rs 1.5B
At least eight Licensed Finance Companies (LFCs) have to fulfil their Rs 1.5 billion minimum capital requirements by 1 January, a deadline imposed by ...
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Urban sector computer literacy rate tops 40%
Overall computer literacy at 28.6% in 2017 One out of every five households owns either a desktop or a laptop computer Digital literacy at 40.1...
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Great opportunities for retail sector in 2019
Sri Lanka will have a very bright 2019 though the end of 2018 has been unsteady, said Ranjit Page, Deputy Chairman and Chief Executive Officer at Carg...
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Hela Clothing secures Rs.1.2bn capital infusion
Sri Lankan apparel manufacturer Hela Clothing Group yesterday announced that it had secured a capital infusion of Rs.1.2 billion, by way of a mix of s...
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Sri Lanka's private sector moving ahead despite power stand-off
Dave Group unveils innovative John Deere farming technology in Sri Lanka, at an event held at Colombo Hilton yesterday. (L-R) Vinayak Vasagade Sales M...
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'Positive outcomes from adjustments on gold and motor vehicle import tariffs'
The adjustments on gold and motor vehicle import tariffs coupled with good rainfall in catchment areas, which has positive implications for local hydr...
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Sampath Bank surpasses Rs.14 billion mark in Pre-Tax Profit
Sampath Bank achieved Rs.14.2 billion in Profit Before Tax (PBT) within the first 3 quarters of 2018, 20.3% higher than the PBT of Rs.11.8 billion rec...
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SC order: Resounding victory for people’s franchise
UNP Leader Ranil Wickremesinghe today said the interim order issued by Supreme Courts suspending the dissolution of Parliament was a resounding victor...
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Singer first half revenue increases by 14% to Rs. 28.6 billion
Singer (Sri Lanka) PLC announced its results for the first half ended September 30, 2018. Despite tough business conditions, the results for the six m...
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ohn Keells Group revenue up 10%, profit to equity holders up 37%
John Keells Group revenue at Rs.32.57 billion for the period under review is an increase of 10 per cent over the Rs.29.62 billion recorded in the prev...
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CWC holds special discussion with Finance Ministry
A special discussion was held between the Secretary to the Ministry of Finance and the Ceylon Workers’ Congress (CWC) today (05) regarding the inc...
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Jetwing Symphony delivers strong financial results for Q2 2018/19
Jetwing Symphony PLC (JETS), the investment arm of Jetwing, last week announced strong financial results for Q2 FY 2018/19. The company recorded a re...
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Mangala exposes economy’s great peril post MS-MR deal
Net outflow of Rs. 4 b from CSE last week dwarfs Jan.-Sept. figure Says outflows putting major pressure on rupee in an already fragile global eco...
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Pan Asia Bank surpasses 1 bn rupee after tax profit milestone for nine months
Pan Asia Banking Corporation PLC, one of the fastest growing Sri Lankan commercial banks, reported its best ever profit recorded for a nine month stre...
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Country’s economy on the brink of collapse: MP
The country’s economy was on the brink of collapse with the US Dollar exchange rate reaching Rs.180, Mahajana Eksath Peramuna (MEP) Leader Dinesh Gu...
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Hyatt and Hilton Hotels have attracted 88 enquiries so far from international investors'
The government has already received 88 enquiries for the Hyatt and Hilton Hotels from leading investors from all over the world following the public...
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