There are around 100 foreigners currently serving with SriLankan Airlines as chief pilots and the incapability of training pilots locally is due to the resources being limited, said the Director General of Civil Aviation. Director General of Civil Aviation H.M.C. Nimalsiri old adaderanabiz.lk that around 200 Sri Lankans too are with the foreigners as chief…
The interim report released by the Committee on Public Enterprises (COPE) reveals that the Ceylon Petroleum Corporation (CPC) has overpaid USD 2,060,842 to a foreign company named UAE since an installment of USD 54 had been included twice in the agreement entered into for the purchase of fuel. COPE chairman revealed this during the media…
China has become the country with the fastest arrivals of tourists to Sri Lanka. According to the latest government statistics tourists arrivals from China in July this year Chinese tourists to Sri Lanka has grown by 172.2 percent to 15,178 tourists. While within the first four months of this year the number of Chinese tourists…
Commercial Credit Limited has bought 98 percent of shares of the over 35 year old, Jet Wing Group owned Trade Finance & Investments PLC for nearly Rs. 1.5 billion, very reliable sources told adaderanabiz.lk Nearly 83 percent of the controlling shares of this company have been sold to Commercial Credit at Rs. 28 each on…
The International Monetary Fund (IMF) has warn that more attention should be focused over Sri Lanka’s state and private banks becoming indebted to foreign countries day by day. Similarly, the IMF has also said that Sri Lanka should be cautious over its inflation as well. While this is not the first time that the IMF…
Chief Justice Mohan Peiris today stepped aside from the judge bench hearing the Golden Key case citing an anonymous letter received by him and in the greater interest of the judiciary. The decisions was made public when the Fundamental Rights (FR) petition filed by the aggrieved depositors of Golden Key Credit Card Company Ltd. was…
Due to President Mahinda Rajapaksa’s decision to remove the taxes imposed by special Gazette notification No. 1857/8, the decision to impose taxes on benefits and perks of employees in state and private sector banks, financial institutions and other profit/loss making institutions including insurance agencies would be done away with, said an official of the Ceylon…
EXCLUSIVE:: The Central Bank of Sri Lanka (CBSL) has the authority to resort to legal action if commercial banks do not further reduce their interest rates in line with the stipulated rates, said the Central Bank Governor. During an exclusive interview with AdaderanaBiz.lk, Cenrtal Bank Governor Ajith Nivard Cabraal said a recent survey conducted by…
The US will remain the world’s biggest oil producer this year after overtaking Saudi Arabia and Russia as extraction of energy from shale rock spurs the nation’s economic recovery, Bank of America said. US production of crude oil, along with liquids separated from natural gas, surpassed all other countries this year with daily output exceeding…
The number of motorcars registered in Sri Lanka during the first four months of this year has shown a sharp increase to 21.7 percent compared to the same period in 2013. According to the Mid-Year Fiscal Position Report 2014 released by the Finance Ministry, while 7,177 motorcars had been registered during the first quarter of…
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