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HEADLINES - 31st July 2018


Damro opens Rs.12.5bn Marino Mall – Daily Mirror

Marino Mall, the mega shopping mall by Damro Group with an investment of Rs.12.5 billion, was opened to the public yesterday. The mall located in Colombo 3 with a total of 150,000 square feet is accessible from both Galle Road and Marine Drive. With a vast array of fine cuisine from different regions of the world, Marino Mall also boasts of a 9D cinema and other modern entertainment options such as virtual reality gaming, climbing wall, etc.


Colombo City Centre ready for opening – Daily News

Sri Lanka’s first international Mall at Colombo City Centre is currently carrying out its final touches before opening its doors next month.


Content creators can now monetize via YouTube in Sri Lanka! – The Island

Ripe in the times when creative minds in the country are looking to turn their passions into careers, local content creators will now, for the first time in Sri Lanka, be able to monetize their content on YouTube through a Sri Lankan company and turn it into a career option.


Facebook sued after $ 120 b stock plunge ‘shocked’ market – DailyFT

NEW YORK (Reuters): Facebook Inc. (FB.O) and Chief Executive Mark Zuckerberg were sued on Friday in what could be the first of many lawsuits over a disappointing earnings announcement by the social media company that wiped out about $ 120 billion of shareholder wealth.


Mastercard empowers SMEs to thrive in digital marketplace with Simplify Commerce – The Island

Mastercard announced the launch of Simplify Commerce, a simple and secure platform that makes it easier for businesses to accept electronic payments, regardless of a payment brand, in Sri Lanka. This feature rich element of Mastercard Payment Gateway Services is now available to acquiring banks and non-banking financial institutions as well as their small-to-midsize merchant customers across the island.


Sri Lankan apparel exporter sets up employee training facility – EconomyNext

Brandix, one of Sri Lanka’s top apparel exporters and the biggest employer in the industry, has set up a training facility with the Colombo International Nautical and Engineering College (CINEC) to overcome a skilled worker shortage.


Ambitious Govt. plans for agri and fisheries export expansion – DailyFT

The Government this week outlined ambitious plans to increase agriculture and fisheries exports by creating 23 new processing zones, improving fisheries production in 10 regions and rapidly expanding revenues from mangoes and cinnamon.


Losses at JKH resort sector arm widen – Daily Mirror

John Keells Hotels PLC, the resort sector arm of the John Keells group, produced yet another disappointing quarterly performance as three of its resorts – two in the Maldives and one in Sri Lanka – were closed for refurbishment. 


Mattala monthly income Rs. 1.2 m, expenditure Rs. 250 m – Patali – Daily News

If one takes the Mattala Airport into account, its monthly income is around Rs. 1.2 million whereas the monthly expenditure was Rs. 250 million, Megapolis and Western Development Minister Patali Champika Ranawaka said.


Govt. to split tender for BIA Terminal 2 to reduce cost – DailyFT

After negotiations with bidders to match the Engineer Estimate for the extension of Bandaranaike International Airport (BIA) failed, the Transport and Aviation Ministry is now seeking approval to split the tender, with aims to bring down value.


SriLankan Airlines gets sixth Airbus A321neo aircraft – EconomyNext

Sri Lanka’s loss-making national carrier said it took delivery Sunday of an Airbus A321neo aircraft, a more fuel-efficient version of the Airbus company's best-selling airliner.


National Policy on Natural Gas initial draft ready – Daily News

The Petroleum Resources Development Secretariat (PRDS) has prepared an initial draft of the ‘National Policy on Natural Gas’ as the Government moves to commercialize already discovered gas deposits in the Mannar basin through International Competitive Bidding.


Malaysia calls for Sri Lanka FTA – Daily Mirror

Malaysia has expressed its strong interest in moving forward on the free trade agreement (FTA) with Sri Lanka that was initially contemplated in 2013, a communiqué from Sri Lanka’s Industry and Commerce Ministry said yesterday. 


C’wealth Secretary-General to arrive in SL – Daily Mirror

The Commonwealth Secretary-General Patricia Scotland would arrive in  Sri Lanka on Wednesday for a four-day official visit, the Foreign Affairs  Ministry said on Monday.


Thirty kgs. heroin seized during last six months – Daily News

Sri Lanka’s crackdown on narcotics has intensified, with law enforcement agencies seizing over 30 kilogrammes of heroin during the last six months alone. Officials told the Daily News that heightened intelligence on the drug supply chain has led to widespread detections which would see a spike in the heroin haul compared to last year.


SL in forefront of fight against human trafficking – Daily News

Foreign Employment Deputy Minister Manusha Nanayakkara yesterday pledged to take all possible measures to combat human trafficking.


Sri Lanka stocks close 0.41-pct lower, rupee weakens – EconomyNext

Stocks closed 0.41 percent lower Monday on selling interest in John Keells Holdings and banking stocks like Sampath Bank and DFCC Bank, while the rupee weakened against the US dollar despite some export conversions, brokers and dealers said.


Secondary market yields dip marginally on moderate volumes – DailyFT

In the secondary bond market, yields were seen declining marginally yesterday, mainly on the 01.08.21, 01.10.22, 15.03.23 and 15.10.25 maturities to daily lows of 9.80%, 10.05%, 10.13% and 10.26%, respectively, against its previous days closings of 9.80/90, 10.05/10, 10.18/20 and 10.30/40. In addition, the 01.07.19 and 01.03.21 was seen changing hands at levels of 9.25% and 9.78%, respectively, as well on the back of moderate volumes. 

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