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PayPal re-brands to boost mobile payment abilities

Recently AdaderanaBiz reported that a Sri Lankan bank has begun negotiations with US based PayPal to become its domestic partner bank for inward remittances. The Central Bank of Sri Lanka currently allows outward payments through PayPal via credit cards but the monetary authority prohibits receipts and withdrawals from domestic bank accounts. However, the Central Bank…

(0)Comments | May 2, 2014 11:21 am

Arrival of investors like James Packer at risk, says Faizer Mustapha

Due to the opposition of those like the government coalition partner the Jathika Hela Urumaya [JHU] and others who voted against the Strategic Development Projects Gazette notification in parliament the arrival of foreign investors like James Packer and others to Sri Lanka are now at risk, said Investment Promotions Deputy Minister Faizer Mustapha. If to…

(0)Comments | May 2, 2014 9:56 am

James Packer coming to Sri Lanka or not? Ravi Wijeratne replies

EXCLUSIVE: To the questions raised by media reports whether multi-billion dollar Australian businessman JamesPacker would not come to Sri Lanka under the prevailing situation, the main Sri Lankan stakeholder in this project, prominent business personality Ravi Wijeratne provided the answers to AdaderanaBiz. Ravi Wijeratne confirmed that James Packer would continue to stay with planned mixed…

(0)Comments | May 1, 2014 7:09 am

Hayleys reveals Centara Passikudah transaction

The Hayleys Group has now revealed the details of the purchase of the controlling stake of Centara Resort and Spa at Passikudah which was first reported by AdaderanaBiz recently. Hayleys Group chairman Mohan Pandithage has announced that Amaya Leisure PLC under Hayleys has bought 51 percent of the shares of Sun Tan Beach Resorts (Pvt)…

(0)Comments | May 1, 2014 5:07 am

Stock Market Review

Equity market managed to retain the positive momentum as both indices closed with high returns. Benchmark All share price index gained 37.42 points (+0.6%) to end at 6,223.67 while S&P SL 20 index gained 12.87 points (+0.38%) to close at 3,418.19. Price improvements in counters such as Ceylon Tobacco (closed at LKR 1,100.00, +3.3%), Lion…

(0)Comments | April 30, 2014 11:52 am

Cairn seeks government’s holistic view to maximise Sri Lanka’s gas discovery

Cairn India, the company engaged in Sri Lanka’s maiden off-shore natural gas discovery in the Mannar Basin has urged the government for a holistic view over the discovery to maximise its benefits. In its fourth quarterly report Cairn India has stated that the company is continuing discussions with the Sri Lankan government regarding the commercial…

(0)Comments | April 30, 2014 8:19 am

Bodhu Bala Sena gets approval of name as company limited by liability

The Bodhu Bala Sena organization has obtained a name under the Clause 34 of the Companies Act No. 07 of 2007 to register as a company limited by liability, says the Registrar General of Companies. The name for which the approval has been granted is the ‘Bodhu Bala Sena Jalaya’ or the Bodhu Bala Sena…

(0)Comments | April 29, 2014 3:07 pm

Stock Market Review

Colombo bourse closed higher on Tuesday as benchmark All-share index gained 14.31 index points or 0.23% to close at 6,186.25 and S&P SL 20 index gained 10.98 index points or 0.32% to close at 3,405.32. Progression in counters such as John Keells Holdings (closed at 238.00, +1.3%), Commercial Leasing & Finance (closed at LKR 4.00,…

(0)Comments | April 29, 2014 11:54 am

Fitch confirms Sri Lanka’s rating as ‘BB-’

While taking the prevailing economic growth into consideration, the global debt rating agency Fitch has confirmed Sri Lanka as BB- rating with a stable outlook. However, Fitch Rating has stated that when compared to other similar countries Sri Lanka’s government debts and foreign debts are very high. This rating is due to inflation being at…

(0)Comments | April 29, 2014 6:13 am

Alerts over faulty Apple and Samsung handsets

Apple has begun a replacement programme for some of its iPhone 5 handsets that have a faulty sleep/wake button. Separately, Samsung has revealed that some of its flagship Galaxy S5 handsets have been shipped with a non-functioning camera. It said anyone who bought an S5 with a faulty camera should contact Samsung’s customer service or…

(0)Comments | April 28, 2014 7:44 pm

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