The State Counsels on Thursday (18) apprised the Court of Appeal that the government will repay up to 41 percent of the moneys deposited with the bankrupt Golden Key Credit Card Company which belonged to former Ceylinco Chairman Lalith Kotelawala. The State Counsel further informed the Court that the cabinet approval has already been granted…
If Parliamentary approval cannot be obtained for the Super Gains Tax, the Mansion Tax etc introduced by the new government’s interim budget, it could be obtained in the next parliament and hence no issues would arise over their legal aspects, said Finance Minister Ravi Karunanayake. The Finance Minister added that though these taxes have been…
Colombo shares ended on flat note on Wednesday, as the main index marginally advanced by 5.11 points or 0.07% to end at 7,049.71 while S&P SL 20 index marginally advanced by 3.70 points (+0.09%) to end at 3,914.76. Price depreciations in primary blue chips such as John Keells Holdings (closed at LKR 197.00, +2.0%), Hemas…
The Listed Debenture Issue of National Development Bank PLC was oversubscribed during the early hours of the opening day as per the disclosures made to the CSE by the Registrars to the Debenture Issue. NDB Investment Bank acted as the Financial Advisors and Managers to the Debenture Issue. The debenture issue of National Development Bank…
The Sri Lankan government has invited proposals from investment banks to borrow up to USD 500 million on a fixed or floating interest basis. While announcing this, the External Resources Department states that the interest on this borrowing would be paid once in six months. The investment banks have to submit bids in multiples of…
Following the inauguration of Agartala-Dhaka bus service and signing of the Bangladesh, Bhutan, India, Nepal motor vehicle agreement, the Centre is also looking at connecting India and Sri Lanka, Union minister for road transport and highways Nitin Gadkari said on Tuesday. The road connectivity, built across Palk Strait, could possibly a combination of a sea-bridge…
Rum Punch, an exclusive brand of resort wear founded by Rukshika Fernando Seneviratne and Binara Seneviratne, will be the first Sri Lankan brand to be retailed on Zalora – Asia’s largest online fashion store, later this month. Rum Punch is a designer brand for the stylish, fun and hip young woman. The brand was launched…
Colombo bourse ended in negative territory snapping two day gains on Tuesday amid price declined in index heavy counters. The main index lost 34.37 index points or -0.49% to end at a nearly 9-week low of 7,044.60 while S&P SL 20 index lost 15.90 points (-0.40%) to end at 3,911.06. The decline was mainly driven…
Sri Lanka is to provide its fullest assistance in expanding the renewable power sources of the recently much talked about Seychelles archipelago, Power & Energy Minister Patali Champika Ranawaka told the Seychelles Ambassador in Sri Lanka Waven William when he met him in Colombo this morning (16 June). The Ambassador said that the Seychelles government…
As Sri Lanka’s King of Spices continued at a steady second rank among all spice exports for a third year in a row, Sri Lanka prepared to move its top spice players to a forthcoming global Conclave in China with a view to diversify markets-and to cash in on the emerging Far-East, as revealed in…
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