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By Ishara Gamage and Dunalee Peiris Nepal based CG Hotels & Resorts is expanding their reach in Sri Lanka through their brand Zinc Journey which operates 15 resorts in 13 destinations holding over a 120 rooms, island wide. CG Hotels & Resorts is part of Nepalese conglomerate CG Corp headed by Forbes billionaire Binod Chaudary. Currently their investments in these properties are over Rs one billion. The new investments are to be executed in partnership with the Ceylon Hotels Corp...

By Elffie Chew Thursday: Thailand's baht led an advance in Southeast Asian exchange rates as signs the Federal Reserve will delay monetary tightening buoyed demand for emerging-market assets. The Indonesian and Malaysian currencies pared gains after rising to their strongest levels since at least August following Fed. Chair Ms. Janet Yellen's remarks to Congress that further interest-rate increases might be pushed back due to global market turbulence.Higher U.S. borrowing costs reduce t...

By Elena Ianchovichina* and ShantayananDevarajan** Wednesday:The collapse of oil prices to levels unseen since the early 2000s has shaken markets and confidence in the health of major economies. Experts include the lifting of economic sanctions on Iran as a key factor in the dramatic fall. Yet, there is no consensus on this point. In a recent paper, we quantify the global effects of this change in Iran's trading opportunities, focusing on the countries that are likely to be most affecte...

By Ye Xie Thursday: The best way to stem the capital outflows from China is to keep the yuan stable, according to Goldman Sachs Group Inc.China's strategy to weaken the currency periodically is unsustainable because such a depreciation leads to market selloffs and accelerated capital outflows, which in turn tighten financial conditions in the country contrary to broader policy goals, strategists led by Robin Brooks wrote in a note Wednesday. That suggests China may prefer a stable yuan t...

As a responsible corporate citizen, NDB Bank (NDB) strives to make meaningful contributions to society through its strategic sustainability initiatives that aims to inspire the sustainable growth of a progressive Sri Lanka.In an effort to mobilize this strategic view on sustainability, NDB joined hands with the British Council of Colombo on a unique initiative to enhance the teaching skills of secondary English language teachers of government schools; thereby improving the standard of Eng...

Ceylon Finance Today: Market's excess liquidity declined by an amount of Rs 3,612.3 million to Rs 44,585 million at yesterday's trading, data showed. This decline maybe due to either Government of Sri Lanka's foreign debt servicing commitments, where the required US dollars are bought from Central Bank of Sri Lanka's (CBSL's) foreign reserves, in exchange for part of rupee excess liquidity; or due to CBSL's defence of the local currency, which results in an action similar to the former; ...

Ceylon Finance Today: The bourse fell for the fourth consecutive market day at yesterday's trading, with the benchmark ASPI declining by 0.78% to 6,314.82 points and the more sensitive S&P SL 20 Index by 1.04% to 3,287.02 points on a lowly Rs 207.6 million turnover. The total number of shares traded were 16.37 million. Losers were nearly five times the number of gainers, with losers numbering 120 and gainers a mere 24.The only bright spot, in an otherwise desert of gloom, was that th...

This week a total of 6.6M./kgs. of tea came under the hammer, Forbes and Walker (F&W) in a tea report said.Low Growns totalled 3.4M/kgs. in the Leafy/ Tippy catalogues. There was fair demand.At the lower end prices were mostly irregular and lower. In the Premium catalogue to a select range of Leafy FFSp/FFExSp, prices were maintained. Others were irregular and lower. Shippers to Turkey, CIS, Dubai, Iraq, Saudi Arabia and Kuwait were active this week. In the Leafy catalogue select bes...

Ceylon Finance Today: Central Bank of Sri Lanka (CBSL) through a combined process of moral suasion and selective selling of US dollars to the market, continued to bridle the spot price at Rs 144 to the dollar in interbank trading, yesterday as well, market sources told this reporter. Trades around 4 p.m. yesterday, in one week's forwards, the more popular instrument used by the market to circumvent CBSL's rein on the spot, was being executed at Rs 144/30/35 in two way quotes, slightly st...

Ceylon Finance Today: Cadmium (Cd) poisoning, the alleged source of the chronic kidney disease (CKD) plaguing the North Central Province (NCP) and now apparently spreading to other areas of the country such as the South, has its origins in the tea lands located in the country's highlands, a researcher alleged. Dr. Kamal Gammanpila, a physiologist working in the UK, in a lecture on the kidney disease delivered at a Colombo hotel on Wednesday said that though there now is a ban on Cd based...

The critical role earmarked for joined-up public transport in Colombo's development and what can be done to boost lending for housing were two topical issues explored by senior figures at the Urban Development Authority (UDA) in recent interviews they gave to the global research, publishing and consulting firm Oxford Business Group (OBG). UDA Director General Nayana Mawilmada told OBG that Sri Lanka's inadequate public transport system was largely to blame for the huge rise witnessed in ...

By Lilian Karunungan Wednesday: The rupiah rose the most since October on speculation Indonesia will lure more inflows as the economy picks up and after a central bank official said the currency is undervalued. The BOJ's adoption of negative interest rates on 29 Jan. buoyed demand for local assets, Bank Indonesia's Juda Agung, Executive Director of Monetary Policy, told reporters in Jakarta on Tuesday. Overseas investors have pumped 9.5 trillion rupiah (US$ 708 million) into Indonesian ...

Ceylon FT

Nepal based CG Hotels & Resorts is expanding their reach in Sri Lanka through their brand Zinc Journey which operates 15 resorts in 13 destinations holding
Thursday: Thailand's baht led an advance in Southeast Asian exchange rates as signs the Federal Reserve will delay monetary tightening buoyed demand for emerging-market
Wednesday:The collapse of oil prices to levels unseen since the early 2000s has shaken markets and confidence in the health of major economies. Experts include
Thursday: The best way to stem the capital outflows from China is to keep the yuan stable, according to Goldman Sachs Group Inc.China's strategy to weaken the currency
As a responsible corporate citizen, NDB Bank (NDB) strives to make meaningful contributions to society through its strategic sustainability initiatives that aims
Ceylon Finance Today: Market's excess liquidity declined by an amount of Rs 3,612.3 million to Rs 44,585 million at yesterday's trading, data showed.

Focus

The proposed Western Region Megapolis is driven by the government as the panacea for the social, political, economic and environmental ills of the country. In their
In reference to the article, "Strange twist of events," which appeared on 1 February, this writer wishes to submit a rectification regarding the position adopted
Tamil People's Council (TPC) releasing the full Draft on how a suitable solution should be reached for the national question has continued to highlight that only
It has been quite a week for the Rajapaksas. Within a span of one week three members of the Rajapaksa family were summoned for questioning either by the Presidential

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