Sri Lanka and China inked 16 agreements yesterday in a move that will solidify already strong relations.
Xinhua News reported that China’s National People’s Congress Standing Committee Chairman Wu Bangguo together with his 150-strong delegation singed the agreements when they met with President Mahinda Rajapaksa.
Tightening brakes on growth, Government data released yesterday showed the country has slowed to a two-and-a-half-year low, slipping from 7.9% in the first quarter to 6.4 % in the second when compared with the same period last year.
Hemas Transportation yesterday announced the expansion of its logistics service portfolio, through a joint venture with Forwardair Logistics (Pvt) Ltd., and has rebranded it as Hemas Logistics.
As part of investigations, the Criminal Investigations Department (CID) has begun questioning Pradeep Kariyawasam, the former Chairman of National Savings Bank (NSB), in connection with the controversial decision to invest in The Finance Company Plc (TFC), a move which was revoked subsequently.
Reuters: The stock market rose to an eight-month high on Monday as institutional investors bought banks, a day ahead of the Central Bank’s September policy rates decision, which the market expects to be unchanged.
Reuters: The Central Bank is expected to keep interest rates steady for a fifth straight month on Tuesday despite high inflation to help bolster economic growth, which has been cooling due to sweeping policy measures and an extended drought.
By Cheranka Mendis
Negotiations are ongoing to bring back Mediterranean carrier Cyprus Airways to fly to Sri Lanka thanks to the tourism boom experienced in both countries.
By Shanuka Tissera
Newly appointed US Ambassador Michele Sison has called on the Sri Lankan private sector to promote entrepreneurship to galvanise partnerships with US companies and foster post-war economic growth.
By Lakmal Sooriyagoda
Minister Mervyn Silva’s son Malaka and six others were remanded till 24 September by a Colombo Court on charges of having assaulted an Army Major and having robbed his service revolver and mobile phone.