United Motors Lanka PLC has appointed Professor Malik Ranasinghe as an independent non-executive director of the company with effect from 22 July 2014. Prof. Ranasinghe is a Senior Professor in Civil Engineering and the immediate past Vice Chancellor at the University of Moratuwa. He is an International Professional Engineer, Chartered Engineer and a Fellow of…
A TransAsia Airlines plane has made an emergency landing in Taiwan killing 51 people and injuring seven. The aircraft reportedly came down in the Penghu Islands off the western coast of Taiwan. Authorities said the plane, carrying 58 people including four crew, crashed near the airport on the outlying Penghu island. “Fifty-one people are feared dead…
Colombo stocks closed lower on Wednesday despite 48 counters reaching its’ 52wk high price levels. The market started on a positive note but failed to maintain the momentum towards the latter part of the trading session. The main index touched 34month high of 6,815.89 mark during the morning session but closed at 6,783.98, sinking by…
Saudi Arabia’s stock market will open up to foreign investors for the first time, the country has announced. The move, which should happen in the first half of 2015, sparked a 3% rise in the Tadawul index on Tuesday. The Saudi market is the biggest in the Middle East and the second biggest in the…
The Central Bank of Sri Lanka has appointed Mr. C.J.P. Siriwardana, Assistant Governor, as the Secretary to the Monetary Board with effect from 14th July 2014. Mr. Siriwardana joined the Central Bank as a Staff Officer in 1986 after graduating from the University of Ruhuna with a B.Sc. Degree (Hons) in Agriculture. In 1994, he…
Colombo equities closed in positive territory on Tuesday as All Share price index gained 39.85 points (+0.59%) to end at 6,796.37 and S&P SL 20 index gained 25.78 points (+0.68%) to end at 3,793.93. The market fluctuated between gains and losses during the day where in the morning session the index dropped to 6,724.11 but…
Managing Director of Lanka Bell Ltd Prasad Samarasinghe was conferred with a Doctorate in Telecommunications by the Australian National University, Canberra, Australia. Dr. Samarasinghe holds a B.Sc. (Eng) Degree in Electronics and Telecommunications with First Class Honors and a M.Sc. in Engineering, both from the University of Moratuwa, Sri Lanka. A member of the IEEE…
The DSI Group embarks on a new project of manufacturing PVC pipes for its first time after buying the PVC products factory and assets of Okta PVC Lanka (Pvt) Ltd at Baddegama in Galle. While commenting on this to adaderanabiz.lk, DSI Group Managing Director Kulathunga Rajapaksha said that the DSI Group had bought all assets…
China’s Xiaomi unveiled on Tuesday its new flagship Mi 4 smartphone, aimed squarely at the premium handset market dominated by Apple Inc and Samsung Electronics Co Ltd. The Mi 4 has a 5 inch, 1080p screen and a Qualcomm Inc Snapdragon 801 2.5 Ghz processor, said Chief Executive Lei Jun at a launch event in…
The special commodity tax on imported sugar has been increased by Rs. 3 per kilogram with effect from July 16, the Finance Ministry stated. Accordingly the tax per kilogram of sugar has been increased from Rs. 25 to Rs. 28. The increase was made to protect local producers against the drop in international sugar prices,…
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