~ Members of the community gear up to host about 21,000 visitors to Colombo for Ashara Mubaraka Sermons His Holiness Dr Syedna Mufaddal Saifuddin TUS, the 53rd al-Dai al-Mutlaq and head of the Dawoodi Bohra community arrived in Colombo today, August 28th, to conduct the Ashara Mubaraka sermons in the city. He was received at…
Rohana Wannigama – Director, Capitol Developers/ Managing Director, Capitol TwinPeaks, the flagship residential venture of the Sanken Group, addressed a panel of industry peers at the ‘Future of Condominium living in Sri Lanka’ on the issues faced by Condominium Developers in Sri Lanka. The event which was organised by the Chamber of Construction Industry (CCI),…
In 2019/20 following Central Bank directives ,Citizens Development Business Finance PLC will undertake the merger of their 90.38% – owned specialized leasing subsidiary, Unisons Capital Leasing Ltd. (UCL), and their fully – owned subsidiary Fortune Properties Limited with CDB. “This move is expected to rationalize some of our operating costs,” Chairman of Citizens Development Business…
Sri Lanka Customs (SLC) the country’s largest revenue earning state body has been able to secure a tax revenue of Rs.919.05 billion, contributing 53.7% of the total government tax revenue of Rs.1, 712.31 billion, the lately released annual report for 2018 highlights. SLC was able to accomplish such an achievement despite the slowdown in trade…
As part of an Asian tour undertaken to promote closer cooperation between the Bolivarian Republic of Venezuela and Asian countries, the Vice Minister of Foreign Affairs for Asia, Middle East and Oceania of Venezuela, Ruben Dario Molina visited Sri Lanka from 24 to 28 August 2019. The Venezuelan dignitary held official talks with the State Minister of…
(Reuters) – Sri Lanka has enlisted French major Total and Norway’s Equinor to study the hydrocarbon potential of two blocks, saying it aims to start oil production in the island nation in 2023. Sri Lanka does not produce oil and importing the fuel costs it $4.15 billion in 2018. The country has received three bids for the…
(Reuters) – Sri Lanka’s rupee slipped on Tuesday amid worries over further foreign fund outflows after the central bank cut key monetary policy rates. Shares snapped four straight sessions of falls as investors picked up beaten-down banking and diversified stocks. ** Foreign investors sold net 12.9 billion rupees worth of government securities in the week…
Known as one of the biggest buyers of Ceylonese Sapphire, Lewis Allen is now in Sri Lanka to attend FACETS 2019, the international gem and jewellery exhibition that will commence on 29th August at the BMICH. Having begun his gem trading business about 40 years ago in Sri Lanka, trading in moonstones and garnets, Lewis…
According to the Performance Report of Department of Railways 2018,the Sri Lanka railway department has grappled with manpower shortages during the year which have affected the railway’s operational activities. According to the report, there are 20,443 approved vacancies in the Sri Lanka railways whereas the department has only 14,885 personnel, witnessing a shortage of 5,558…
Top Korean nameplate KIA is to strengthen its presence in Sri Lanka with a distributor dealership model following the recent corporate structure change which saw Managing Director Mahen Thambiah securing 100 per cent ownership with a total investment of Rs 1.02 billion. The seamless transition has been achieved with no reduction in employee numbers or…
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