SriLankan Airlines Chief Executive Officer Kapila Chandrasena has resigned from his post suddenly. www.adaderanabiz.lk learns that the report of the three-member committee appointed to investigate irregularities within SriLankan Airlines and Mihin Lanka Airlines has already released its report. Before being appointed CEO of SriLankan Airlines, Kapila Chandrasena was CEO of Mihin Lanka Airlines and Mobitel….
There has been no fraud involved in the Treasury Bond issue of the Sri Lanka Central Bank which continues to receive allegations and the government has appointed a committee to inquire into this issue, said Finance Minister Ravi Karunanayake. While stating this during a media conference at the Finance Ministry this morning (10 March) the…
The simple, effective and immediate solution for the high rising cost of fuel, the new Bajaj four-wheeler, RE60 is yet to make its presence in Sri Lanka. The eco-friendly budget car is the first four-wheeler developed by Bajaj. The local agent for the RE60 vehicle requested the Department Motor Traffic to register it under a…
Sri Lanka’s sole agent and dealer of Volvo cars and products, the Swedish Trading Company Ltd. has gone in to legal action against Volvo Car Corporation on 24 February seeking to prevent the company from appointing any other party other than Swedish Trading Company Ltd. as its agent, distributor or partner in Sri Lanka following…
President Maithripala Sirisena has cancelled with immediate effect the mining licenses for sapphires and other precious stones issued to 16 foreign companies by the former government. The President said he had cancelled these licenses issued to unknown companies to safeguard the local mining industry. While Sri Lanka is renowned as a place where the world’s…
Sri Lanka’s largest global FDI partner has come forward to introduce its successful industrialisation model to Sri Lanka and with a keen eye on the huge South Asian market, it is also moving to renew trade. “The 12 national Industrial Parks we created in Malaysia are successful. We intend to introduce the same model to…
Sri Lanka’s official foreign reserves which stood at USD 8,208 million by December 2014 has dropped to USD 7,261 million by January 2015, reveals latest government data. In August 2014 Sri Lanka’s official foreign reserves was even as high as USD 9,200 million. Analysts had pointed out by end last year that if the foreign…
The European Union which had continued to warn Sri Lanka to halt its illegal methods of fishing imposing a ban on the purchase of fish and fishery products from Sri Lanka, it has been revealed that the export of fishery products from India and the Maldives through Sri Lanka has increased drastically. As revealed to…
The final decision on the controversial Colombo Port City project begun during the previous regime with a USD 1.6billion Chinese investment would be taken after studying the report to be presented by the experts’ committee appointed to re-examine this project deeply and the particulars revealed through this study, said Prime Minister Ranil Wickremesinghe while making…
Due to the huge tax through the new government’s interim budget on the import of hybrid vehicles a situation has arisen where the prices of such vehicles would increase heavily. While expressing its opposition to this tax, the Sri Lanka Vehicle Importers’ Association says that this may cause the downfall of its sector. This is…
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