From 7 November 2016 the UK Visa Application Centre (VAC) in Colombo will move to a new location. The VAC will be located at: 75, Arnold Ratnayake Mawatha, Colombo 10. 01000 Sri Lanka The VAC will be open Monday to Friday – timings: 09:00-14:00. The new VAC is shared between UK and Australia. The new…
Reuters – Sri Lankan shares extended losses for a third straight session to close Tuesday at a fresh three-month low as investors shrugged off the central bank’s decision to keep rates unchanged. The central bank held the benchmark interest rates on hold late on Monday, as expected, saying its monetary policy stance remained appropriate as…
Director of BOV Capital Prajith Balasubramaniam and OMAK Technologies Chief Executive Officer Ehantha Sirisena joined Ada Derana Biz 24×7 for a wide discussion on the Venture Capital process which provides the necessary funds to fulfill business ideas. OMAK Technologies began operations in 2012 by developing Restaurant Management Systems and Mobile applications. During the discussions, its…
Sierra Cables PLC, a public listed company in Sri Lanka has reached an agreement to establish a production facility in Fiji. Sierra Cables has entered into a joint venture with Vinod Patel & Company, RC Manubhai & Company and Progressive Investments Limited and would establish an electricity cable production facility in Fiji. As agreed upon,…
Wilhelm E. Brown, General Manager of Alpha Travels & Holidays Private Limited, a member of the “Finco Group” was elected as the President of the Travel Agents Association of Sri Lanka (TAASL). He was elected for the post, during the 41st Annual General Meeting of the Travel Agents Association of Sri Lanka (TAASL), which was…
The synergies of the amalgamation with Vardhana Bank are starting to materialise. For the nine months ended 30 September 2016, DFCC’s profit after tax recorded a 43% growth to LKR 2,527 million from LKR 1,766 million with the Group posting a 32% growth to LKR 2,692 million from LKR 2,034 million. DFCC’s core banking business…
The 2nd Joint Business Council Forum of Sri Lanka and Pakistan was held on the 12th October, 2016 in Colombo. The forum a joint initiative of the Sri Lanka Pakistan Business Council and Pakistan Sri Lanka Business Council, which was formed in 2015 is aimed at enhancing trade, investment and tourism opportunities between the two…
Growth in credit granted to the private sector by commercial banks decelerated to 27.3 per cent (year-on-year) in August 2016, from 28.5 per cent recorded in the previous month, amidst a continuous upward adjustment in market interest rates. The moderation of private sector credit coupled with net repayments to the banking system by the government…
Reuters – Sri Lankan shares ended Monday weaker at a three-month low in thin trade ahead of a monetary policy announcement by the central bank, as the prime minister’s plan for improving the investment climate failed to cheer the market. Sri Lanka’s central bank is expected to keep its key interest rates steady later on…
Emirates has signed an agreement with Thales to equip its Boeing 777X fleet with Thales AVANT inflight entertainment system. The airline will work in partnership with Thales to develop and enhance the state-of-the-art inflight entertainment and connectivity (IFEC) system to be fitted on its new Boeing 777X aircraft due for delivery starting in mid-2020. This…
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