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Last Updated = Sat, Mar 23, 2019, 12:24 am SL Time

* Sri Lanka mineral deposits in Pulmoddai will not be sold, transferred or privatized - Minister Bathiudeen

Mar 22 (CP) Colombo- Sri Lanka's famed Pulmoddai mineral deposits will not be sold, transferred or privatized and will continue to vest with the public, Minister of Industry and Commerce Rishad Bathiudeen asserted.
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* ComBank wins its 19th Global Finance 'Best Bank in Sri Lanka' award

Mar 22 (CP) Colombo- The Commercial Bank of Ceylon has been adjudged Sri Lanka's Best Bank in 2019 by the USA-based Global Finance magazine, giving the Bank its 19th such accolade from this entity alone.
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* DMK leader Jagathrakshakan’s family linked to record FDI in Sri Lanka

Mar 22 (Hindu) A Singapore-based company in which stakes are held by the family members of former Union Minister of State S. Jagathrakshakan of the DMK has been linked to a record foreign direct investment of $3.85 billion in an oil refinery in Sri Lanka.
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* Sri Lanka's BOI clarifies status of investment in Oil Refinery Project in Hambantota

Mar 21 (CP) Colombo- Sri Lanka's Board of Investment (BOI) responding to a Reuters report which said the Oman's oil ministry denied being part of a $3.85 billion plan to build an oil refinery in Hambantota, clarified the status of the investment in the project.
[Full Story]

* Sri Lanka shares fall for 5th session; rupee slightly weaker

Mar 22 (Reuters) COLOMBO- Sri Lankan shares fell for the fifth straight session on Friday and posted their lowest close in more than six years, dragged by telecom stocks, but foreign investors’ buying capped the decline.
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* Sri Lanka will see more mid-cap M&A deals

Mar 22 (DN) According to MTI’s Corporate Finance & Investment Banking practice, over the next 2 years Sri Lanka is likely to witness a strong pipeline of mid-cap M&A deals. Commenting on what is driving this, MTI’s CEO Hilmy Cader said “There are a multitude of inter-related reasons.
[Full Story]

* Sri Lanka shares fall for 4th session; rupee ends firmer

Mar 21 (Reuters) COLOMBO- Sri Lanka's share index fell for a fourth straight session on Thursday to a more than 6-year closing low as investors exited the island nation's risky assets, while they awaited cues from the third and final vote on the 2019 budget, market sources said.
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* Asia’s top ethnic fashion brand to enter Sri Lanka

Mar 21 (DM) Khaadi, an iconic fast fashion retail force, has appointed MTI Consulting for its Sri Lanka market entry.
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* Enterprise Sri Lanka first Mobile Service on Saturday at Weligama

Mar 22 (CP) Colombo- The Finance Ministry has initiated a program to provide mobile services island wide to accelerate the generation of entrepreneurs under the Enterprise Sri Lanka program strengthened through the 2019 budget presented by the Finance Minister Mangala Samaraweera.
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* Sri Lanka sets sights on ambitious apparel export growth

Mar 22 (JSC) Sri Lanka is eyeing annual clothing exports of US$8bn by 2025 after passing the US$5bn milestone in 2018 - a move seen as especially significant for the country because it has been achieved while maintaining an "ethical and reliable brand."
[Full Story]

* Sri Lanka nationwide inflation rises to 2.4 percent in February 2019

Mar 21 (CP) Colombo- Sri Lanka's nationwide inflation in February 2019 determined under the National Consumer Price Index (NCPI) rose to 2.4 percent from 1.2 percent recorded in January on a year-on-year basis, the Department of Census and Statistics reported Thursday.
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* Sri Lankan banks manage capital impact of SLFRS 9

Mar 21 (CP) Colombo- Sri Lankan banks have been able to manage the capital impact of first-time adoption of SLFRS 9 accounting standards, in line with Fitch Ratings' expectations, due to capital infusions ahead of full implementation of Basel III, satisfactory profitability buffers and the four-year phasing-in period, Fitch Ratings says.
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* Sri Lanka to discuss draft national policy on LNG

Mar 22 (Island) The Ministry of Highways & Road Development together with Petroleum Resources Development has developed the draft national policy on natural gas with a view to establish and develop the natural gas industry in Sri Lanka.
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* China ‘not narrow minded’ to oppose Indian investments in Lanka: Official

Mar 21 (Hindu) China on Thursday said it is “not narrow minded” to oppose the Indian investments in Sri Lanka, as it reacted guardedly to reports of $3.85 billion joint venture between India’s Accord Group and Oman’s oil ministry to build a refinery in the island nation.
[Full Story]

* Softlogic wins big at DELL Partner Awards FY19

Mar 21 (Island) Softlogic Information Technologies (Pvt) Ltd, a subsidiary of Softlogic Holdings PLC, won prestigious awards in the recently held Dell Power Awards at Anantara Kalutara.
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* Lanka eyes over US$ 3 bn FDI in 2019

Mar 21 (DN) Sri Lanka will attract US$ 3 billion Foreign Direct Investments to Sri Lanka for 2019, Deputy Minister of Development Strategies and International Trade, Nalin Bandara said.
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