Though currently interest rates on loans have reached a record low in Sri Lanka it is no secret that some banks charge unreasonably huge interests on Credit Cards. A survey by adaderanabiz.lk revealed that some banks still charge as much as 24 per cent as interest on the credit cards issued to their customers. Cannot…
Though around six investors have already submitted proposals for the Sapugaskanda oil refinery modernization project, it has been revealed that there have been no proposals so far to raise the required loans and implement the project. This project to increase the refining capacity of the Sapugaskanda refinery from its current 50,000 barrels of crude oil…
Due to the inadequacy of the storage facilities in the fuel tanks at Kolonnawa, Sapugaskanda and Muthutajawela tank farms the government is considering setting up new storage tanks. Hence, more prominence is being given to increasing the number of tanks at the existing tank farms in Kolonnawa and Muthurajawela, Ceylon Petroleum Corporation (CPC) chairman Sirisena…
Colombo stock market started weekly operations on negative note where both indices shed returns gained. Core index declined by 21.02 index points or 0.29% to close at 7,213.45 and S&P SL20 index decreased by 21.39 index points (-0.53%) to close at 4,008.16. Price declines in counters such as Commercial Bank (closed at LKR 163.00, -0.4%),…
UK processors Icelandic Seachill, Direct Seafoods and New England Seafood expressed disappointment over the EU’s red card decision – especially as some of those importers are engaged in fisheries improvement there. The ban will mainly impact imports of fresh and chilled yellowfin tuna or swordfish from Sri Lanka, largely for the foodservice sector, with total imports to the EU valued…
Bansei Royal Resorts Hikkaduwa PLC which had been managed by prominent Sri Lankan businessman Dhammika Perera has entered into an agreement with Jetwing Hotels Limited to operate its Hikkaduwa Resort from 01 December this year. Amaya Leisure would relinquish its management of Bansei Royal Resorts Hikkaduwa from 01 October 2014 while Jetwing Hotels Limited would…
The Ceylon Petroleum Corporation (CPC) is to send back a tanker carrying 10,000 metric tons of petrol from a Singaporean company which had been found to be substandard during tests at the corporation laboratories, CPC chairman Sirisena Amarasekera told adaderanabiz. Amarasekera added that this tanker is currently docked at the Colombo port and the 20,000…
America’s youngest self-made female billionaire is 30 years old and a college dropout. The company she founded has the potential to change health care for millions of Americans. Elizabeth Holmes left Stanford University at 19 with a plan to start her own company. For money, she cashed out the funds her parents had saved for…
Nearly a third of U.S. smartphone users consider themselves addicted to their device, according to a new HuffPost/YouGov poll. When asked whether they considered themselves addicted, 28 percent of self-reported smartphone users admitted they were, while 64 percent said they were not. Nine percent were unsure. Women reported smartphone addiction in slightly higher numbers than…
Colombo bourse extended the losses on Friday to wrap the weekly activities in negative territory. All Share Price index lost 22.60 points (-0.31%) to end at 7,234.47 and S&P SL 20 index lost 26.84 points (-0.66%) to end at 4,029.55. The core index has dropped 87 points (-1.2%) during the week whereas S&P SL 20…
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