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Last Updated = Fri, Nov 24, 2017, 01:44 pm SL Time

* Red Herring names 99X Technology as one of Asia's most promising tech companies

Nov 24 (CP) Colombo- Software product engineering specialist 99X Technology was felicitated for its pioneering work and potential for exponential growth when it was ranked on the prestigious Red Herring 100 Asia Index for 2017.
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* AIS Principal Harshana Perera honored at Icons of Learning Summit, Singapore

Nov 24 (CP) Colombo- Recognizing a career filled with remarkable achievements in education and invaluable contribution to institutions of learning, Asian International School of Sri Lanka, Principal, Harshana Perera was recently presented with the Award for Distinguished Educationist at the Fourth Annual Icons of Learning Summit & Awards held in Singapore.
[Full Story]

* Nestlé brands Maggi and Nestomalt named Sri Lanka’s Top 10 FMCG brands

Nov 24 (DM) Nestlé’s two iconic brands, Maggi and Nestomalt, were named Sri Lanka’s Top 10 FMCG brands in the latest Brand Footprint Study by research company Kantar World panel. They are the only noodle and malted food drink brands to be ranked in the top 10.
[Full Story]

* Foreign investment in the Sri Lanka Stock Market hits an all-time high in 2017

Nov 23 (CP) Colombo- In what continues to be a promising year for foreign investor involvement in the stock market, 2017 has recorded an all-time high in foreign purchases during a year, with Rs. 105.1 billion (year-to-date) in foreign purchases this year passing the record of Rs. 104.7 billion set in 2014.
[Full Story]

* Sri Lankan shares hit 1-wk closing low amid heavy foreign outflow

Nov 23 (Reuters) COLOMBO- Sri Lankan shares hit a one-week closing low on Thursday, as investors waited for clarity on new taxes in the national budget and on key legislations, although selling by foreign investors in Commercial Bank of Ceylon helped boost turnover.
[Full Story]

* Ceylinco Insurance grows GWPs by 7% in 3Q despite challenging conditions

Nov 23 (DM) Ceylinco Insurance PLC recorded a positive growth in gross written premiums (GWPs) during the three months to September (3Q17) as the insurance giant expanded business despite the challenging market conditions, particularly with regards to its life segment.
[Full Story]

* Sri Lanka's CICT invests over USD 10 Mn in green infrastructure at Colombo Port

Nov 24 (CP) Colombo- Sri Lanka's Colombo International Container Terminals (CICT) has completed a project to convert the company's diesel-operated rubber-tired gantry cranes to electric-powered rubber-tired gantry cranes or E-RTGs, making a major contribution to efforts by the Port of Colombo to go Green.
[Full Story]

* Private sector, the main growth driver in SL’

Nov 24 (Island) The private sector forms the main catalyst in the country’s economic progress, Prime Minister Ranil Wickremesinghe said. 'The government’s aim is a per capita GDP by the end of 2017 of 4000 dollars,
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* Central Bank cancels CIFL licence

Nov 24 (DN) The licence granted to Central Investments and Finance has been cancelled by the Monetary Board of the Central Bank. The Central Bank Monetary Board has taken this decision at its meeting held on Nov 6, 2017
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* Sri Lanka's bunker fuel sales to drop 30-35%, after effect of India's GST cut

Nov 23 (Platts) Seven weeks after its competitor, India, slashed its goods and services tax on bunker fuel, marine fuel sales at Sri Lanka's ports are expected to fall 30-35% to usual traded levels, bunker suppliers said this week.
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* Poultry producers welcome maize import liberalization; increased production, revenues, exports anticipated

Nov 23 (Island) The recent budget proposal to allow feed millers to import maize under a special limited quota to meet the shortfall in the local supply was hailed by poultry producers as a strongly positive measure that will support greater efficiency within the domestic industry
[Full Story]

* LOLC continues with excellent bottom line growth

Nov 23 (DN) LOLC releasing its interim financials for September 30, 2017, reported excellent growth in profitability compared with September 2016 driven by the financial services sector. The PBT for the current year was Rs. 11.7 billion compared with Rs. 6.6 billion reported last year, a growth of 77%.
[Full Story]

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