Amana Bank CEO and Managing Director Faizal Salieh will retire from his post effective June 1, 2014. A suitable candidate will be appointed, Amana Bank stated.
Share Market managed to end positively on Tuesday as both indices closed higher. Bench mark all share price index advanced by 30.55 points (+0.52%) to close at 5,952.78 and 20-scrip S&P SL index advanced by 9.58 points (+0.30%) to close at 3,256.49. Progression in counters such as Ceylon Tobacco (closed at LKR 1,080.00, +4.7%), Carson…
The boards of directors of the DFCC Bank (DFCC) and the National Development Bank PLC (NDB) have signed a memorandum of understanding towards exploring the possibilities of amalgamating under the consolidation of certain banking businesses. The boards of both DFCC and NDB add that there is no definite decision on aspects of such consolidation at…
The demand in the world market for high and low grown Sri Lankan tea has currently decreased and it may reportedly cause tea prices to fall. Though tea prices are thus decreasing, Sri Lanka’s tea still fetches better prices, said Asia Siyaka tea brokers chairman Anil Cooke while speaking to AdaderanaBiz. “Recently, Iran bought a sizeable amount of…
The Sri Lanka Vehicle Importers Association [SLVIA] is to meet high officials of the Finance Ministry to discuss its plans to import electric vehicles to Sri Lanka. The SLVIA proposes to import these electric vehicles and request the government to assist it in installing equipment for re-charging facilities at 50 selected Ceypetco fuel stations inland-wide. The Association is to…
Colombo bourse witnessed a lackluster trading session during the day and closed with mixed returns. ASI lost 15.64 index points (-0.26%) to closed at 5,922.23 while S&P SL20 Index gained 0.89 points (+0.03%) to end at 3,246.91. Price depreciations in counters such as Ceylon Tobacco (closed at LKR 1,021.00, -6.5%), Asiri Surgical (closed at LKR…
Gold prices eased further in Asia on Monday after the China HSBC Flash Purchasing Managers Index for March unexpectedly fell, casting doubt on demand from China, which regularly changes places with India as the world’s top importer of the yellow metal. On the Comex division of the New York Mercantile Exchange, gold futures for…
Qatar and Etihad Airways have reportedly conducted an audit research on the possibilities of flying to the Mattala International Airport at Mattala in Sri Lanka. Airport and Aviation Authority chairman Prasanna Wickremasuriya told AdaderanaBiz that the two airways had conducted the audit recently. Earlier, AdaderanaBiz revealed that Rotana Jet airways of Abu Dhabi is preparing…
China’s manufacturing sector showed further contraction in March, according to a new report which mainly tracks activity in smaller factories. The HSBC Purchasing Managers’ Index (PMI) gave a reading of 48.1 for March, compared to 48.5 in February. A reading below 50 indicates contraction, while one above 50 shows expansion. The HSBC survey focuses on…
A company linked to former Malaysian Prime Minister Mahathir Mohamed’s family is reportedly to construct a Marina – a dock with moorings and supplies for yachts and small boats, with a hotel and other facilities for tourist cruise vessels in a section of the Beruwela harbour. While speaking to AdaderanaBiz, Fisheries Resources Minister Rajitha Senaratne…
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