Diversified conglomerate Hayleys PLC with an asset base of Rs.233 billion, bounced back strongly during the quarter ended December 31, 2018 (3Q18), after recording losses for two consecutive quarters, the interim financial accounts released to the Colombo bourse showed. The group earnings for the quarter under review improved to Rs.5.86 a share or Rs.439.4 million, compared … [Read more...] about Hayleys bounces back in 3Q with strong sectoral contributions – Daily Mirror
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Sri Lanka @ 71 adrift in a chaotic world – Daily Mirror
oday the country celebrates its 71 anniversary of independence at a time marred by internal political divisions and heading towards decisive elections which may yet not fix most of our system of governance that has metastasized, with the only hope of a complete makeover which is unimaginable at the current conjuncture.This column will focus on the greater challenges of a … [Read more...] about Sri Lanka @ 71 adrift in a chaotic world – Daily Mirror
China and Singapore to invest US $ 1.1bn in cement and steel plants – Daily Mirror
Development Strategies and International Trade Minister Malik Samarawickrama chairs 17th Exporters’ Forum along with Ministry Secretary S.T. Kodikara (extreme left), Deputy Minister Nalin Bandara (left) and Export Development Board Chairperson Indira Malwatte (extreme right)Pic by Pradeep Pathirana Over US $ 10bn investments from Singapore under discussions Steel … [Read more...] about China and Singapore to invest US $ 1.1bn in cement and steel plants – Daily Mirror
JKH records growth in 3Q despite challenging operating conditions – Daily Mirror
Top line increases 17% to Rs.36.5bn Net profit up 7% helped by tax reversal SAGT boosts transportation sector profits Ice cream volumes show early signs of recovery Supermarket biz gaining momentum following rebranding Sri Lankan and Maldives resorts show improvement ‘Tri-Zen’ to impact property performance from June quarter Financial sector hit by marked to … [Read more...] about JKH records growth in 3Q despite challenging operating conditions – Daily Mirror
CB cuts foreign holding in G-Secs to limit hot money stock – Daily Mirror
Reduces threshold of foreign investment in T-bills and bonds from 10% to 5% Currently, foreign holding stands below 5.0 % of total stock of issued G-secs Foreigners held around 3.11 % of total G-Secs stock at end of 2018 Foreigners sold net Rs.159.9bn of G-secs during 2018; rupee fell 19% Sri Lanka’s Central Bank has cut foreign investor threshold in purchasing … [Read more...] about CB cuts foreign holding in G-Secs to limit hot money stock – Daily Mirror
SriLankan loses Rs.40bn in 9 months – Daily Mirror
The losses at the national carrier, SriLankan Airlines, widened during the nine months ended December 31, 2018, despite the gains at the top line level, due to currency depreciation and higher oil prices, the airline said yesterday in a statement. SriLankan said the net loss for the months was Rs.40 billion (approx. US $ 135 million), against a net loss of Rs.11 billion … [Read more...] about SriLankan loses Rs.40bn in 9 months – Daily Mirror
Sri Lanka sees unexpected population growth amid upturn in fertility rates – Daily Mirror
Set to face increased demand for housing, water, food, education and infrastructure Population projected to increase to 25mn by 2042 Child population estimated to have increased to 5.3mn by 2017 from 5.1mn in 2012 For next 10 to 20 years child birth rate to remain static Increase in younger population to put pressure on govt. labour force Inward migration due to … [Read more...] about Sri Lanka sees unexpected population growth amid upturn in fertility rates – Daily Mirror
Port City to become catalyst for banking sector to reach Rs.30tn in assets by 2025 – Daily Mirror
C.J.P. Siriwardana CIFC expected to be launched in 2023 High-tech and CIFC will shape up Sri Lanka’s banking sector The Colombo Port City (CPC) will attract foreign banks to set up their operations in Sri Lanka, paving the way for the country’s banking sector’s asset base to more than double to Rs.30 trillion by 2025, former Central Bank Deputy Governor and newly … [Read more...] about Port City to become catalyst for banking sector to reach Rs.30tn in assets by 2025 – Daily Mirror
Industrial production slows in Nov. as key segments lose momentum – Daily Mirror
IIP drops to 107.3 index points in Nov. 2018, from 108.6 in Nov. 2017 Statistics office offers no reasons for sharp Oct.-Nov. fall Sri Lanka’s industrial production slowed in November as the activities or the sub-sectors, which recorded a growth, trailed the ones that contracted over the same month in 2017. The Index of Industrial Production (IIP) recorded a 108.6 index … [Read more...] about Industrial production slows in Nov. as key segments lose momentum – Daily Mirror
China looking to set up FTZ in Sri Lanka for rubber exports – Daily Mirror
Plantation Industries Minister Navin Dissanayake in discussion with the Chinese delegation High-powered Chinese delegation in Colombo Navin to visit China to sign MOU following Cabinet approval Project coordination unit to be established By Nishel Fernando China is looking to set up a specialised free trade zone for rubber-based value added exports in Sri Lanka by … [Read more...] about China looking to set up FTZ in Sri Lanka for rubber exports – Daily Mirror
