Several strategic investors have expressed their willingness to invest in Sri Lanka’s banks and non-banking financial institutions, says the Central Bank of Sri Lanka (CBSL). These types of investments would make the balance sheets of such institutions stronger and also provide the opportunities to widen their businesses, says the CBSL. Meanwhile, the process of consolidating…
CEAT Kelani Holdings (Pvt) Ltd. which produces almost half of Sri Lanka’s tyre requirements invested Rs. 600 million to establish a new factory for producing radial tyres. This new factory is adjoining the existing CEAT Kelani manufacturing complex in Kelaniya. The company says that this would enable it to develop its tyres with the CEAT…
While AdaderanaBiz continued to reveal details of the ultra modern city near the Kottawa interchange of the Southern Expressway, now it could be revealed when this project would begin. Urban Development Authority (UDA) Deputy Director – Planning, Priyani Navaratne told AdaderanaBiz, “The planning stages of this project have been now completed. We expect to begin…
C.W. Mackie PLC has purchased 30,351,222 ordinary shares representing 88.23 percent of Kelani Valley Canneries Ltd. from CIC Agri Business (Pvt) Ltd. for a purchase consideration of Rs. 130,000,000 on 31 March 2014.
Colombo equities closed on a mixed note on Monday as the benchmark All share price index extended losses to closed at 5,968.31 with a drop of 3.86 points (-0.06%) while S&P SL20 index managed to marginally gain 1.25 points (+0.04%) to closed at 3,279.92. Price depreciation in counters such as Hatton National Bank (closed at…
Latest data reveal that the March inflationary rate in Sri Lanka remains static with 4.2 percent as compared to February this year. According to the data released by the Census and Statics Department, based on the Colombo Consumer Price Index, the normal increase in prices of goods in Sri Lanka or inflation has been 4.2…
Factory output in Japan declined by 2.3% in February, official figures released on Monday show. The fall could add to concerns about a slowdown in the world’s third-largest economy. February’s figure was the first decrease in three months, and it surprised many analysts who were expecting a boost ahead of a planned tax increase. Sales…
The government is to implement a project to enhance the passenger terminal of the Katunayake International Airport which handles some six million passengers annually to handle 15 million in the future. This project is receiving financial assistance from JAICA and the relevant agreement has been signed, Civil Aviation Authority Ministry secretary Dr. Ravindra Ruberu told…
The prevailing drought condition in the country has increased the demand for electricity, says the Ceylon Electricity Board (CEB) chairman. The overall increase the use of air-conditioning and fans due to the prevailing drought conditions have increased the demand, CEB chairman W.B. Ganegala told AdaderanaBiz. “Before the drought the electricity demand in the country during…
Consumer prices in Japan increased by 1.3% in February compared with the same period last year, marking the ninth month in a row of gains. The figure met analysts’ expectations, but is still well below Prime Minister Shinzo Abe’s inflation target of 2%. Japanese consumer spending also slowed, official data revealed, ahead of a planned…
Video Story
