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CB to intervene if rupee moves on speculation

Reuters: The Central Bank will intervene in the foreign exchange markets if its rupee currency moves for any reasons other than global trends, the Bank’s Senior Deputy Governor Nandalal Weerasinghe told Reuters on Friday.

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SL e-commerce to hit US$ 400 mn by 2022

Chairman of CAA Anura Meddegoda, Minister of Industry and Commerce Rishad Bathiudeen, Head of Cooperation of the Delegation of the European Union Delegation in Sri Lanka Frank Hess, Secretary of Ministry of Telecommunication and Digital Infrastructure Chulananda Perera look on as visiting e-commerce expert from Geneva’s International Trade Centre Professor Michael Geist lights the ceremonial lamp at the launch of second e-commerce PPD in Colombo yesterday.

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MAS Holdings in Joint Venture with Best Pacific

Shakti Ranatunga, Director Group Human Resources of MAS Holdings, Dilly Zheng, General Manager Sales and Marketing of Best Pacific International Holdings Limited, SudarshanAhangama , Director Group Finance of MAS Holdings, Dhanushka Fernando, Chief Executive Officer of Trischel Fabric Private Limited, Sharad Amalean, Deputy Chairman of MAS Holdings, Kane Zhang - Chief Executive Officer of Best Pacific International Holdings Limited, Jonathan Jia , Chief Operating Officer of Trischel Fabric Private Limited, Shakti Ranatunga, Director Group Human Resources of MAS Holdings, Dilly Zheng, General Manager Sales and Marketing of Best Pacific International Holdings Limited, SudarshanAhangama , Director Group Finance of MAS Holdings, Dhanushka Fernando, Chief Execut MAS Holdings entered into a joint venture agreement with Best Pacific International Holdings Limited earlier this year, which was formalized on August 1, 2018 with the official signing ceremony.

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Business confidence dips to a 12-month low

The LMD-Nielsen Business Confidence Index (BCI) declined by six basis points to register 95 in August, according to the latest edition of leading business magazine LMD. This is its lowest level for the last 12 months. In addition, the index is below its 12 month and all-time averages of 110 and 129 respectively, the magazine notes.Nielsen’s Managing Director Sharang Pant notes in LMD that despite the growth in exports in in the first four months of 2018, and tourist arrivals and earnings in the first six months of the year, “businesses are yet to witness an uptick in demand – and consumer wallets remain under pressure from the impact of tax revisions and inflation that is rising again”.

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