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Last Updated = Thu, Jul 2, 2020, 11:32 am SL Time

* Sri Lanka SEC approves new admission requirements to attract SMEs & Start -Ups

July 02 (CP) Colombo- The Securities and Exchange Commission of Sri Lanka (SEC SL) approved introduction of new Rules and amendments to the existing Listing Rules of the Colombo Stock Exchange (CSE) and granted approval in principle to proceed with certain other important initiatives.
[Full Story]

* CNCI requests Rs 350-400 bn stimulus disbursement from Govt

July 02 (DN) The Ceylon National Chamber of Industries (CNCI), premier industrial Chamber, has requested the government to support the industries with a minimum of 2% of the GDP, or Rs. 350 – 400 billion to be immediately disbursed within the next two months
[Full Story]

* JKH’s Plasticcycle Network expands presence on the Southern Expressway in partnership with Cinnamon Wild Yala

July 01 (CP) Colombo- John Keells Group’s Plasticcycle added 18 collection bins on the Southern Expressway on 30th June 2020 adding to the existing network of bins. These bins were sponsored by Cinnamon Wild Yala (Cinnamon Hotels & Resorts), in partnership with the Road Development Authority
[Full Story]

* COVID-19 tea transformation: Sri Lanka giants call for further digital gains after online auctions

July 01 (FN) The COVID-19 pandemic outbreak has led to at least one positive outcome in the digital transformation of the tea industry according to two industry giants – the staging of Colombo’s tea auction online after 20 years of negotiations.
[Full Story]

* Inflation in Sri Lanka capital Colombo declines to 3.9 percent in June 2020

June 30 (CP) Colombo- Sri Lanka’s inflation, as measured by the change in the Colombo Consumers’ Price Index (CCPI) declined to 3.9 percent in June 2020 from 4.0 percent in May 2020, the Department of Census And Statistics reported Tuesday.
[Full Story]

* ComBank conducts 51st AGM on virtual platform

June 30 (CP) Colombo- The 51st Annual General Meeting (AGM) of the Commercial Bank of Ceylon PLC, Sri Lanka’s benchmark private bank, was conducted on a virtual platform for the first time on Thursday, 25th June 2020.
[Full Story]

* Billionaire investor modeling his firm on Warren Buffett’s company

July 01 (Island) Billionaire investor Chamath Palihapitiya wants to build his Social Capital firm into a tech-focused successor to Warren Buffett’s $400 billion conglomerate.
[Full Story]

* Sarvodaya Development Finance record profit growth of 147%

July 01 (DN) Sarvodaya Development Finance (SDF), the financial services arm of the Sarvodaya Movement, recorded one of its best years of financial performance against one of the most difficult years ever experienced by the Sri Lankan economy.
[Full Story]

* Corporates brace for up to 20% earnings decline as dismal second quarter comes to an end

June 30 (DM) Sri Lanka’s listed corporates are expected to report between 15 percent to 20 percent decline in their earnings, as they prepare to close books on one of the worst quarters on record.
[Full Story]

* CMPort ropes in strategic investor for H’tota port development

July 02 (DM) The Hambantota port operator, China Merchants Port Holdings (CMPort), saw 23.5 percent of its shares acquired by Fujian Transportation Maritime Silk Road Investment and Management, a share transfer that took place via an online signing ceremony earlier this week.
[Full Story]

* Sri Lankan shares end flat; financials, telecoms decline

July 01 (Reuters) Sri Lankan shares ended little changed on Wednesday, as declines in financial and telecom stocks offset gains from consumer stocks. The benchmark CSE All Share Index closed down 0.02% at 5148.41.
[Full Story]

* Cargills records 35.78% growth in PAT with Rs. 2.76 billion

July 01 (CP) Colombo- Cargills (Ceylon PLC) has reported its financial results for the period ended 31st March 2020. The market conditions this past quarter have been favorable, with economic activity showing improvements
[Full Story]

* Sri Lanka Insurance posts record Rs.8.2 bn profit before tax

July 01 (CP) Colombo- Sri Lanka Insurance (SLI) at the recently held Annual General Meeting declared that the company has closed year 2019 in a positive note recording a phenomenal growth with exceptional service innovations.
[Full Story]

* UNDP, Ministry of Tourism and Aviation, SLTDA team up to build a more resilient tourism sector in Sri Lanka

June 30 (CP) Colombo- The United Nations Development Programme (UNDP) together with the Ministry of Tourism and Aviation and the Sri Lanka Tourism Development Authority (SLTDA) is developing a national roadmap to build a more resilient tourism sector in Sri Lanka.
[Full Story]

* Dialog Axiata Powers Sri Lanka’s First Drive-in Concert

June 30 (CP) Colombo- Sri Lankan singing sensations Bathiya and Santhush together with TV Derana presented Sri Lanka’s first-ever drive-in concert, powered by Dialog Axiata, which treated fans to the first LIVE music experience since the COVID-19 pandemic lockdown.
[Full Story]

* Corporates brace for up to 20% earnings decline as dismal second quarter comes to an end

July 01 (DM) Sri Lanka’s listed corporates are expected to report between 15 percent to 20 percent decline in their earnings, as they prepare to close books on one of the worst quarters on record.
[Full Story]

* CBSL decision brings some bounce to bourse

June 30 (Island) Yesterday the CSE was somewhat down due to profit taking and foreign selling pressure but some consolation came from the Central Bank policy decision to support the economy by giving credit guarantees for loans to business entities that had been affected by COVID 19 coupled with low prices prevalent in valuable stocks, market analysts said.
[Full Story]

* Health regulation may slow down construction industry

June 30 (DN) Some of the health regulations may pose a threat to the construction industry, a study by PricewaterhouseCoopers (PwC) Sri Lanka said based on Post Recovery Strategies webinar on Real Estate and Construction.
[Full Story]

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