SLPA to be restructured:
The Asian Development Bank has approved
assistance to prepare a National Port Master Plan (NPMP) for Sri
Lanka, covering all ports and connected urban and industrial
activity as well as multimodal links. The master plan is financed by
the Japan Fund for Poverty Reduction.
The Central Depository Systems (Pvt) Ltd (CDS),
a fully owned subsidiary of the Colombo Stock Exchange (CSE),
celebrated 25 years in the Sri Lankan Capital Market on Friday. The
CDS was set up by the CSE in 1991, marking a historic breakthrough
in clearing and settlement in Sri Lanka.
Mackwoods drama continues:
The members of the Ceylon Mercantile Union (CMU)
of Mackwoods (Pvt) Ltd who took umbrage over being forced to resign
by the Mackwoods management last month with only a three-month
salary compensation package will resort to legal remedies for
redress if their claim for an acceptable compensation is turned down
by the management.
It was an overall bearish week for the Colombo
Stock Exchange. The ASPI closed at 6539.09 down by 0.18% compared to
the previous week with the S&P SL20 closing at 3599.94 up by 0.42%.
ASPI recorded a year to date loss of 4.78% as at weekly closure.
Lanka Indian Oil Corporation’s focus on market
segments such as lubricants, bitumen and bunkers helped drive
profits when price controls resulted in losses on retail auto fuel
sales, the company has said in its annual report for 2015-16. LIOC’s
bunker volumes grew 20% this year while it became market leader in
An inter-sessional meeting of the U.S.-Sri Lanka
Trade and Investment Framework Agreement (TIFA) Council meeting was
held on September 1 in Colombo. The meeting was Co-Chaired by
Minister of Development Strategies and International Trade,