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HONG KONG (AFP) - Asian markets were mixed yesterday, with Shanghai bouncing back from early losses to end the week with a rally following a rare joint intervention by some of China’s top financial officials.

Monday, 22 October 2018 09:44

Seylan Colombo Motor Show

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Sri Lanka’s largest international automotive event, the ‘Seylan Colombo Motor Show 2018’ opened at the Sirimavo Bandaranaike Memorial Exhibition Centre, BMICH yesterday. This year’s show will comprise of motor car show, 4X4 off-road vehicles show, vintage car show, Volkswagen and Mini Minor car show, commercial vehicles and custom-built vehicles, boats and water sports vehicles show and more. MP Ravi Karunanayake attended the opening day as special guest.

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The 18th Asia Pacific ICT Alliance (APITCA) awards 2018, which was held in Guangzhou, China from the 10th to 14th October, named DirectPay as the overall winner in the Consumer - Wealth and Retail Category and Park and Pay with a Merit Award in the Start Up of the Year - Business and Community Category.

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The Government of Sri Lanka invited to submit proposals from international and domestic banks and investment houses for a Foreign Currency Term Financing Facility (FCTFF) denominated in United State Dollar (USD) or Japanese Yen (JPY) or Euro or of their combination up to a limit of USD 1,000 million in March 2018.

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Reuters - The Sri Lankan rupee ended weaker on Wednesday as banks and importers bought the U.S. dollar while stocks edged lower to end near a five-year closing low.

Wednesday, 17 October 2018 23:26

Rupee ends weaker; stocks edge up

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(Colombo) REUTERS: The Sri Lankan rupee ended 0.2 percent weaker yesterday as banks and importers bought the dollar while stocks ended a five-session losing streak, pulling away from previous session’s near five-year closing low. The rupee ended at 170.90/171.10 per dollar, compared with its previous close of 170.60/75. The rupee had fallen to an all-time low of 171.60 per dollar on Wednesday, surpassing the previous trough of 171.00 hit yesterday, due to foreign selling in government securities and exporter greenback sales, market sources said.

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  • National Budget Department says no such unit exists
  • Progress reports of individual ministries lacking consistency
  • Status of 26 percent of promises remains undisclosed
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The two-year credit boom during 2015 and 2016 has failed to bring in desired long-term development outcomes as most of such credit had gone into unproductive segments of the economy, a recent research report by a leading Colombo-based equities brokerage, opined.

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Considering the challenges that Sri Lanka is currently faced with due to global uncertainty, the President instructs the Ministry of Finance to study the current imports and submit a report on goods of which the imports can be temporarily restricted.

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The banking sector earnings, which once looked almost immune to economic cycles, have indicated some signs of weakness in recent times, as the sector is facing multiple headwinds, which are putting its resilience to test.

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