The Commercial Bank of Ceylon PLC has announced the appointment of Mr Sivakrishnarajah Renganathan, the Bank’s Deputy General Manager – Personal Banking, as Chief Operating Officer (COO) and Executive Director with effect from 17th July 2014. A career banker who has served Commercial Bank throughout the entirety of his 34-year working career, Mr Renganathan has…
The leaders of the five Brics countries have signed a deal to create a new $100bn (£58.3bn) development bank and emergency reserve fund. The Brics group is made up of Brazil, Russia, India, China and South Africa. The capital for the bank will be split equally among the five participating countries. The bank will have…
The voluntary offer by Brandix Textile Holdings Limited to acquire the issued and fully paid up ordinary shares of Kuruwita Textile Mills PLC closed at 4.00 pm yesterday. The payments of consideration for the shares will be made to the shareholders on or before 14 August 2014.
Polish archaeologists have recovered one of the world’s oldest intact bottles of mineral water from a shipwreck lying on the bottom of the Baltic Sea. Still corked, the perfectly preserved stoneware bottle was produced between 1806 and 1830 by Selters, one of the oldest mineral waters in Europe. The 12-inch bottle was found during archaeological…
Colombo shares closed in positive territory on Tuesday as both indices recorded higher returns. Main bourse gained 28.76 points (+0.43%) to end at 6,727.79 and S&P SL 20 gained 29.03 points (+0.78%) to end at 3,750.26. Price progression in index heavy counters such as Carson Cumberbatch (closed at LKR 450.00, +7.1%), Bukit Darah (closed at…
Commercial Bank of Ceylon PLC has announced the appointment of career banker Mr Jegan Durairatnam as the Bank’s Managing Director and CEO effective 17th July 2014, on the retirement of the incumbent Mr Ravi Dias. Mr. Durairatnam is currently Executive Director and Chief Operating Officer of the Bank. A senior member of Commercial Bank’s corporate…
It has been revealed that nearly 50 percent of the liquor licenses now in operation in Sri Lanka are those issued within the period 1997 to 2001. While responding to a question in parliament by United National Party (UNP) parliamentarian P. Harrison, the Finance Ministry has stated that currently there are 2,963 valid liquor licenses…
Toyota is planning to slash the cost of developing and manufacturing its next-generation range of engines, while simultaneously lifting fuel economy and opening up the possibility of turbocharging. While many of the world’s car makers have embraced forced induction and smaller displacement motors, Toyota has instead focused its engineering efforts on hybrid powertrain technology. But…
Singer Si Cranstoun, 38, spent years struggling to make ends meet performing for passer-bys – including then PM Tony Blair, who once gave him 30p. But last April, Si landed a breakthrough deal with music giants Warner. The busker’s first single ‘Caught in the Moonlight’ was shortlisted on the Radio 2 playlist last month and…
Adam Investments Limited, an investor group in PC House Holdings PLC said it has obtained an interim order from the Commercial High Court of Colombo restraining PC House Holdings PLC from selling or transferring Bieco Link Carbons (Pvt) Ltd shares to MMD Lanka Ventures (Pvt) Limited. This order also restrains MMD Lanka Ventures (Pvt) Limited…
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