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Latest Finance News .....
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Last Updated = Wed, Aug 16, 2017, 09:33 pm SL Time

* President launches 'NSBiSaver' to increase Sri Lankans' saving habits

Aug 16 (CP) Colombo- Sri Lanka President Maithripala Sirisena Wednesday launched the 'NSB iSaver', saving method aiming to further increase the saving habits of the Sri Lankans.
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* Sri Lanka services sector continues expansion in July 2017

Aug 16 (CP) Colombo- Sri Lanka's services sector continued to expand in July 2017 while the manufacturing sector grew at a slower rate, the Central Bank's Purchasing Managers' Index (PMI) Survey released on Tuesday showed.
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* Sri Lankan shares fall to 4-mth closing low; blue chips drag

Aug 16 (Reuters) COLOMBO- Sri Lankan shares fell for a fourth consecutive session on Wednesday, posting their lowest close in four months, as local investor sentiment remained muted following a string of disappointing June-quarter corporate results.
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* East West Marketing launches Bakewell bakery equipment

Aug 16 (DM) East West Marketing, a fully owned subsidiary of Nawaloka Holdings has widened its portfolio through ‘Bakewell’, a brand that houses an prominent range of bakery equipment to meet the emerging and growing needs of today’s out of home professional chefs, bakers and caterers.
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* Special Commodity Levy on imported sugar increased

Aug 15 (CP) Colombo- The Special Commodity Levy (SCL) on a kilo of imported sugar has been increased by Rs. 8 with effect from midnight today (15th Aug.). At present, the price of a kilo of sugar in world market has been reduced by Rs. 10.
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* Sri Lankan shares post steepest drop in 5 mths despite foreign buying

Aug 15 (Reuters) COLOMBO- Sri Lankan shares posted their worst decline in nearly five months on Tuesday, as local investor sentiment remained muted, after a string of disappointing June-quarter corporate results.
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* Takas.lk teams up with Visa to offer exclusive discounts on 13000 products

Aug 15 (DM) Takas.lk, one of Sri Lanka’s largest Electronics Mall, and Visa, the global digital payments technology network, have teamed up to announce a new campaign to offer all Visa cardholders 12.5 % discount for online purchases at Takas.lk besides offering asecure, convenient and an enriched online shopping experience.
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* Sri Lanka’s HNB offers 4.4 mnl shares to investors

Aug 15 (LBO) Sri Lanka’s Hatton National Bank said it was offering 4.4 million shares, which were under subscribed earlier to potential investors.To boost capital, the bank offered 56 million voting shares at 220 rupees
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* Shangri-La Hotel, Colombo set to introduce a new level of luxury in Sri Lanka

Aug 16 (CP) Colombo- Shangri-La Hotels and Resorts announced that Shangri-La Hotel, Colombo is set to open on 16 November 2017. The hotel will begin taking bookings from 1 September 2017 for stays from 1 December 2017.
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* Sri Lankan rupee ends steady as bank dollar sales offset demand

Aug 16 (Reuters) COLOMBO- The Sri Lankan rupee ended steady on Wednesday as dollar selling by banks in the latter part of the session offset the importer dollar demand, dealers said.
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* Lakshman Silva appointed Chief Executive Officer of DFCC Bank

Aug 16 (Island) DFCC Bank PLC announced the appointment of Lakshman Silva as the Bank’s new CEO, with effect from August 16, 2017.Silva has over 30 years of experience in the financial sector
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* Cargills Group Net Finance Costs increases 86.2% YoY

Aug 16 (DN) The performance of the Cargills Ceylon PLC was satisfactory for the quarter ended June 30, 2017 in light of the weak consumption environment, and external weather challenges including flooding and landslides, and a severe drought that continues to impact the Eastern, North Central and North Western Provinces.
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* Sri Lanka Central Bank suspends primary dealer Pan Asia Banking Corporation

Aug 15 (CP) Colombo- The Monetary Board of Sri Lanka's Central Bank has decided to suspend the business activities of a Primary Dealer of Pan Asia Banking Corporation PLC (PABC) from today for a period of six months.
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* ‘SL’s economic growth spurred by insurance industry expansion’

Aug 15 (Island) The Sri Lankan economy had a satisfactory growth rate in the last several years due to the substantial growth in the insurance industry, which registered a 12 percent increase last year, Chief Executive Officer Ceylinco General Insurance Limited Ajith Gunawardena said.
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* KTFL produces third of total local low-grown CTC tea

Aug 15 (DN) Kalubowitiyana Tea Factory Ltd (KTFL) showcased its products at the Coconut, Rubber and Tea (CRT) trade fair and exhibition held at the BMICH from August 11-13. KTFL which also has factories in Derangala and Hiniduma, contributes to the national economy by producing CTC and Orthodox Tea.
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