EGI Hybrid Center, a subsidiary of Laugfs Holdings Limited recently announced the latest EGI Hybrid Technology to the booming Sri Lankan automotive industry. In a bid to transform Sri Lanka’s energy consumption, EGI Hybrid brings the latest, tested, recommended and used transport fuel to local consumers. Speaking on the introduction of EGI Technology in Sri…
The proposed Ratnapura expressway is to be constructed between Pelmadulla to Ingiriya and it would be connected to the Southern expressway’s Gelanigama interchange through the existing highway at Ingiriya, said Ports and Highways Deputy Minister Nirmala Kothalawala. “The Ratnapura expressway will be from Ingiriya to Pelmadulla. For this we have identified areas with state and…
The renovations to the former Auditor General’s Department building at Independence Square in Colombo 7 have been completed now. This building now converted into a shopping complex with 42 outlets will be declared open by President Mahinda Rajapaksa on Sunday 13 July, said the Urban Development Authority (UDA) chairman. All these 42 shops within this…
Malaysia’s Parkson Retail Asia Limited has appointed three directors to Sri Lanka’s prominent fashion apparel chain Odel PLC to represent their share interests. Parkson Retail Asia’s Y. Bhg. Datuk Lee Kok Leong, Tiang Chee Sung and Ms. Wong Siew Chuan have been appointed as non-executive directors of Odel PLC with effect from 04 July, 2014….
An in-flight Air New Zealand safety video, which had been branded sexist, has been replaced. The film featured models dressed in bikinis demonstrating safety procedures with airline equipment. Australian Natasha Young began a Change.org petition which called on the airline to stop using the video. “This video completely disregards passengers who find it offensive,” she…
Colombo shares ended with notable gains on Wednesday as All share Price index improved by 48.03 points or 0.73% to close at 6,613.84 and S&P SL20 index improved by 29.95 points or 0.81% to close at 3,706.06. The gains were mainly underpinned by price progressions in Sri Lanka Telecom (closed at LKR 51.40, +3.8%), John…
The Colombo Stock Exchange has allowed a Debenture Issue to be listed by Dunamis Capital PLC and it is to open on 28 July. Dunamis Capital PLC is to list 10 million debentures at a redeemable price of Rs. 100 each. First Capital Limited are the managers to the issue.
The number of Japanese companies on the latest Fortune Global 500 list dropped to 57 from 62 last year, with Toyota Motor Corp.7203.TO -1.13% the only domestic company in the top 10. Fortune noted that Toyota, which fell to No. 9 from No. 8, earned $18.2 billion last year but that sales are expected to go…
The latest data released by the Ministry of Finance indicate that the expenditure on development of roads and highways has increased by 72 percent during the first quarter of this year compared to the same period last year. The Mid-Year Fiscal Position Report 2014 reveals that Rs. 55 billion has been spent on developing Sri…
Venture Engine 2014 programme organized to provide the financial support for new Sri Lankan entrepreneurs on their new ventures, has decided to fund several businesses with new ideas. Fourteen business systems were selected for the final round of this programme organized by Sri Lanka’s Blue Ocean Ventures and Indian Angel Networks from India and were…
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