The Ceylon Motor Traders Association (CMTA) celebrated its 99th year recently. Affiliated to the Ceylon Chamber of Commerce, the CMTA the most senior automotive trade association in the region. The CMTA represents all major international automotive manufacturers, through their agents. The members of the CMTA collectively employs and trains thousands of Sri Lankan citizens. They…
Demand for land in Thalahena, Gothatuwa and Kolonnawa are rising significantly, resulting in the highest percentage increases in land prices in Greater Colombo, according to a recently concluded study. LankaPropertyWeb.com analysed postings in its website to ascertain the change in asking prices for land in the Greater Colombo area. Thalahena topped the list, recording a…
The cabinet of Ministers approved the proposal presented by Minister of Foreign Affairs Thilak Marapana to grant US $5,000 for the reconstruction of a village near Regla in Havana which was severely damaged by the January hurricane, celebrating the 60th anniversary of the establishment of diplomatic relations between the two countries and as a symbol…
Reuters – Sri Lankan shares snapped a four-session losing streak to end tad firmer on Wednesday on block trading of select shares, bouncing back from a two-week low hit on the previous day, while the rupee fell on importers’ dollar demand, market sources said. ** The benchmark stock index ended 0.11% higher at 5,348.57, recovering…
The Securities and Exchange Commission of Sri Lanka (SEC) filed action in the Magistrate’s Court Colombo Fort against two investors on charges of having committed the offence of Market/Price Manipulation with regard to the shares of E-Channelling PLC. Issuing a statement the SEC noted that, the action was filed on the basis of evidence elicited…
Speaking to Ada Derena exclusively, Chief Executive Officer and Managing Director of Bharti Airtel Lanka, Jinesh Hegde said, more transparent and quickly accessible information about customer service performance could expand the number of customers who might take it into account in choosing a mobile service provider. “Currently in this market there are a lot of…
Brandix Apparel Limited, Fonterra Brands Lanka (Pvt.) Ltd. and John Keells Holdings PLC held the orientation for fifteen diverse, talented interns Tuesday (25th June 2019) at Hatch, Colombo, formally commencing the Fast Track Summer Internship Programme 2019. First introduced in 2011, the ‘FastTrack’ Summer Internship Programme returned in April 2019 to provide fifteen selected undergraduates a unique opportunity…
Issuing a statement today (26) Finance Minister Mangala Samaraweera says that the recent news report in the media quoting an opposition Parliamentarian to the effect that the People’s Bank is to be privatized is completely false and misleading. The statement further states: Certain political parties and the Trade Union affiliated to those parties had alleged…
Reuters – Sri Lanka shares fell for the fourth straight session on Tuesday to hit a two-week low on foreign outflows, while rupee ended steady buoyed by dollar inflows into two new sovereign bonds launched a day ago, market sources said. ** The island nation raised $2 billion via 5-year and 10-year sovereign bond sales…
Prime Minister Ranil Wickremesinghe yesterday (24) noted that, the country should move forward and attract more investments in order to beget positive economic outcomes. The Prime Minister made these remarks while attending the opening of the Hyrax Oil SDN BHD Lubricant Blending Plant in Muthurajawela yesterday. Speaking further, Wickremesinghe highlighted upon the challenges that the…
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