Due to the inability to complete the proposed coal power plant in Sampur on time, Sri Lanka is likely to face a power crisis in 2020, similar to the situation in 2000 where the demand for electricity could not be met, said international consultant and energy expert Dr. Tilak Siyambalapitiya during a special discussion with…
The Policy Planning and Economic Affairs Ministry has issued a statement on the allegations that the recent 30 year Treasury Bonds issue by the Central Bank had been carried out while enabling a certain Primary Dealer to gain a capital profit. It says: Statement to the Media on Treasury Bond Issue in March 2015 At…
Hemas Holdings PLC is to issue over 57.25 million ordinary shares by way of a 1 to 9 rights issue. Meanwhile, major shareholders in Hemas Holdings PLC have stated that reputed domestic and international institutional investors have sent strong expressions of interest to become shareholders of the company to increase their existing shareholdings. Hence, the…
The Right to Information Act should not include the right to obtain information on business activities of the private sector and if this Acts enables one the right to do so, then it could create a dangerous situation, points out Learn Asia Foundation’s Chairman Professor Rohan Samarajeewa. Hence, the private sector business community should be…
Big data and analytics among top IT trends in Asia-Pacific and Japan in 2015 With new technologies emerging and dominating the way organizations and the workforce function, businesses can no longer afford to remain behind the curve. As we receive feedback from customers in Sri Lanka and the Asia-Pacific and Japan (APJ) region, we continue…
Once completed, the Colombo Port City project could provide living space for some 200 thousand persons and when considered economically, this is a good idea, said Deputy Minister of Highways and Investment Promotion Eran Wickremaratne during an exclusive interview with www.adaderanabiz.lk He added that the shortcomings in this project would be studied and the new…
The Pathfinder Foundation alleges that some of the taxes imposed on the private sector by the new government’s interim budget are unreasonable. This is the full interview the BIZ 24X7 programme of Ada Derana 24X7 had with Pathfinder Foundation’s Executive Director Lakshman Siriwardena:
China’s $1.4 billion plan to build a city on reclaimed land near Colombo port faces its first tangible setback since new Sri Lankan President Maithripala Sirisena took power last month. Lawmakers failed to approve a 25-year tax holiday proposed by the previous administration for the Colombo Port City before a deadline on Tuesday, said Eran…
The over 100,000 latest bank accounts obtained confidentially and leaked by the Washington-based investigative journalists group The International Consortium of Investigative Journalists (ICIJ) has revealed that there are 129 bank accounts in a Swiss bank linked to 92 account holders in Sri Lanka. Accordingly, while these accounts are with world renowned HSBC Private Bank (Suisse)…
Sri Lanka’s new administration is “serious” about reforming the Central Bank, Deputy Policy Planning and Economic Affairs Minister Harsha de Silva, who is pushing to raise real household incomes, said. Analysts say real household incomes cannot be raised with a central bank that constantly depreciates the currency, and whose operational practices also weigh heavily against…
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