Air China said it will start a Beijing-Colombo service on October 27, 2015. The service will give passengers easy access to the island gem in the Indian Ocean. Colombo is Sri Lanka´s capital and political, economic, cultural and transportation center. Currently, China has become Sri Lanka´s second largest trading partner and source of imports as…
Fitch Ratings has affirmed the National Long Term Ratings on five small and mid-sized Sri Lankan banks. Nations Trust Bank PLC (NTB) has been affirmed at ‘A(lka)’, Pan Asia Banking Corporation PLC (PABC) at ‘BBB(lka)’, Sanasa Development Bank PLC (Sanasa) at ‘BB+(lka)’, Union Bank of Colombo PLC’s (UB) at ‘BB+(lka)’ and Amana Bank PLC (Amana)…
It’s kind of rough to go to the movies and hear how you “kidney punched” Steve Jobs. Daniel Kottke, a college friend of Jobs’ and one of Apple’s first employees, says it was basically an accident that he revealed one of Jobs’ biggest secrets to the world: the fact that Jobs had a daughter, Lisa….
Prime Minister Ranil Wickremesinghe in his capacity as the Minister of National Policies and Economic Affairs has proposed the introduction of a National Consumer Price Index (NCPI) to replace the ‘Colombo Consumer Price Index’ and to consider its base year as 2013 and from 21 November 2015 to declare the proposed NCPI on the 21st…
Prime Minister Ranil Wickremesinghe in his capacity as the Minister of National Policies and Economic Affairs is to enter into the relevant agreements for obtaining the funds of US$ 200 million from the Asian Development Bank (ADB) for the implementation of the Integrated Road Investment Programme Phase III. This ADB assisted programme is implemented to…
Colombo bourse advanced for the third consecutive session on Thursday driven by retail activity. All share index touched 7,083 mark in the opening hours but failed to retain the optimistic momentum. Nevertheless, benchmark index bagged 13.18 index points or 0.19% to end at 7,068.85 while S&P SL20 index gained 10.24 index points (+0.27%) to close…
Embark, the fashion brand with a unique cause,has opened its third independent store in Kandy, a city with which it has built a strong affinity. Located at No 30 on the third floor of the Kandy City Centre (KCC) mall, the Embark store is a more compact version of the standalone Embark store in the…
Dialog Axiata PLC, Sri Lanka’s largest Foreign Direct Investor operation under the Board of Investments (BoI) announced that it is to invest an additional USD 175 million (Rs. 24.6 billion) in the island’s ICT infrastructure. This include the expansion of Dialog’s 3rd Generation and 4th Generation High Speed Broadband Services and further development of the…
Toyota is recalling 6.5 million vehicles worldwide over a faulty window switch that can short circuit and catch fire. The company said insufficient lubricant grease may have been used, which under certain conditions could lead the switch to malfunction, overheat and in the worst case scenario, lead to a fire. The Toyota models involved include…
Finlays Colombo PLC has formally resolved to initiate the process of delisting the company’s ordinary voting shares from the official list of the Colombo Stock Exchange. The company has made arrangements with James Finlay Limited of Swire House, 59, Buckingham Gate, London to purchase the shares of shareholders who may wish todivest their shareholdings at…
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