The Urban Development Authority (UDA) has prepared a major plan to develop the Kottawa town which is the closest to the Makumbura interchange of the Southern expressway. A four acre plot of land belonging to the Department of Probation and Childcare in Kottawa is to be acquired by the UDA to expand this area. A…
Colombo bourse managed to maintain the momentum gained yesterday where both indices witnessed positive returns. Benchmark index gained 23.13 points (+0.37%) to end at 6,275.73 while 20-scrip S&P SL index gained 12.81 index points or 0.37% to close at 3,446.76. Price appreciations in Nestle Lanka (closed at LKR 1,985.00, +2.3%), Bukit Darah (closed at LKR…
Through the proposed free trade agreement with China, Sri Lanka is to request the Chinese government to provide full tax concessions on the island’s exports of apparels, coconut, rubber and tea based products, gems and precious stones and jewellery to China, says a senior official of the Treasury. Deputy Secretary to the Treasury S.R. Attygala…
Toyota chalked up a record annual profit and sales above 10 million vehicles for the first time, but forecast a slower year ahead Thursday, as the momentum from a weak yen fades. Expenses such as the $1.2 billion penalty it paid in a settlement with the U.S. Justice Department earlier this year for hiding information…
The World Bank has approved a credit of US $147 million to help rehabilitate the basic urban services and improve livability in regions of the two major Sri Lankan cities of Kandy and Galle. The project seeks to produce a more spatially balanced distribution of economic opportunities, while at the same time reducing congestion in…
Sri Lanka Telecom (SLT) has said that it is on the lookout for local and foreign investors for a joint property development project of its properties island-wide. While SLT expects to successfully implement a property development project by integrating all its properties business-wise, it states the economic and market value of these properties would increase….
Colombo stock market managed to regain lost ground on Wednesday as both indices witnessed positive returns. Benchmark All share price index advanced by 26.47 points (+0.43%) to close at 6,252.60 while 20-script S&P SL advanced by 9.83 points (+0.29%) to close at 3,433.95. Price progression in counters such as Ceylon Tobacco (closed at LKR 1,099.50,…
In the event a foreigner who has been guilty of a crime in another country wants to invest in Sri Lanka, the decision whether the particular investor is to be allowed to do so would be taken after careful consideration of any such complaints, said the Executive Director of the Sri Lanka Board of Investment’s…
HSBC‘s profit fell in the first quarter of the year as lower retail banking fees and difficult global markets trading hit the bank’s bottom line. Pre-tax profit, excluding one-off items, fell 13% to $6.62bn (£3.9bn) in the three months to the end of March. Revenue fell 8% to $15.7bn. The group warned that customer activity…
The Richard Pieris & Company PLC 30 million rated, unsecured redeemable debenture issue at Rs. 100.00 per share with the option of increasing the share up to 35 million, has been oversubscribed. Hence, the issues will close at 4.30pm today (07 May, 2014).
Video Story
