The Monetary Board, with the concurrence of the Hon. Minister of Finance, has promoted Assistant Governor, Mr. S Lankathilake to the post of Deputy Governor of the Central Bank of Sri Lanka (CBSL) with effect from 24th January 2016. Mr. S Lankathilake has more than 30 years of experience in the CBSL in the areas…
Students who receive free education should get more, says Gateway International School chairman Dr. Harsha Alles. During an interview with Ada Derana Biz 24X7 recently, he said that they have come thus far only due to free education.
IRCON International Limited, a Government of India Undertaking, under the Ministry of Indian Railways, will shortly complete 7 years in Sri Lanka in March 2016. IRCON was responsible for the upgradation of the Tsunami devastated coastal railway line and the reconstruction of the Northern Province railway tracks which tremendously helped in the capacity enhancement of…
Chartered Accountant, Lasantha Wickremasinghe was inducted as the 23rd President of the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) on Tuesday, 26th January 2016 in the presence of a distinguished audience including senior government officials, corporate leaders and international accounting personalities. Mr. Wickremasinghe, a prominent Chartered Accountant was ceremoniously inducted by outgoing…
Aitken Spence Hotels International (Private) Limited, a subsidiary of Aitken Spence PLC, is to acquire the Al Falaj Hotel in Oman at a price of 14 million Omani Riyals. This offer has been accepted by the Board of Directors and shareholders of the owning company, Oman Hotels and Tourism Company subjected to the necessary approvals….
Dairy co-operative unveils wider strategy to support the growth of the local dairy industry Fonterra Brands Sri Lanka today announced the construction of its first demonstration and training farm in Sri Lanka, as part of the company’s long-term investment in the growth of the local dairy industry. The dairy co-operative, which has been operating in…
Colombo stock market extended the losing streak on Tuesday as investors stayed on sidelines amid domestic and global economic concerns. Bourse continued to witness lackluster trading activity where turnover recorded another year-to-date low of LKR 341mn. All share index slashed 31.96 index points or 0.50% to close the session at 6,322.87 while 20-scrip S&P index…
China has officially issued a warning to George Soros: Beware of going to “war on the renminbi.” The message comes in a piece published in China’s People’s Daily titled “Declaring war on China’s currency? Ha ha.” People’s Daily is the Communist Party’s mouthpiece. “Soros’s war on the renminbi and the Hong Kong dollar cannot possibly…
Sri Lanka has been deservedly praised for the progress it has made since the end of the war against the separatist Tamil Tigers in 2009. The economy has grown at an average annual rate of 6.7%, and education and health statistics are impressive. All developing countries face myriad challenges, but this is especially the case…
The Prime Minister of New Zealand, John Key is reportedly to visit Sri Lanka soon, Ada Derana Biz learned. Prime Minister John Key is to visit Sri Lanka to inaugurate the model and training farm being established by Fonterra Brands Lanka which has invested Rs. 117 million into the project. On inquiry by Ada Derana…
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