The Ceylon Chamber of Commerce (CCC) believes that the Finance Bill of March 2015, presented to Parliament recently sends a negative signal to the private sector and is likely to deter investment. This is unfortunate since the Bill comes at a time that the Sri Lankan private sector was gearing itself to partner the Government…
World’s leading tea producers Sri Lanka and Vietnam sought a greater bilateral trade with India in the fast growing tea and coffee sectors. Today, there is a need for India and Vietnam to join hands and increase trade between the two countries in the fast growing tea and coffee sectors, Vietnam’s Minister of Agriculture and…
Colombo equities strengthen the gains on Friday to end the weekly operation on an optimistic note. Benchmark All share price index advanced by 25.06 points or 0.35% to end at 7,105.54 while S&P SL 20 index gained 4.42 points (+0.12%) to end at 3,840.75. Today’s gains were mainly driven by price appreciations in counters such…
The maximum Loan-to-value (LTV) ratio for vehicle leasing has been increased from 70% to 90% with effect from Monday (Oct. 05), Finance Minister Ravi Karunanayake said today. Earlier the Central Bank on September 14 directed banks, finance and leasing companies to follow new leasing rates which have been set at a maximum 70 per cent…
While attending the inaugural day of the ‘Dharmapala Edicational & Trade Exhibition’ to mark the 75th anniversary of the Dharmapala College at Pannipitiya in Kottawa as the chief guest, Megapolis and Western Province Development Minister Patali Champika Ranawaka said that Malabe, Kottawa, Pannipitiya and Homagama would be developed into Technological Cities. The Minister said that…
Five foreign banks have reportedly sought Central Bank permission to begin operations in Sri Lanka. While it has been reported that two of the largest banks in Japan and China are among these five, they are preparing to begin operations in Sri Lanka after the Central Bank approves them.
The Otara Foundation is to press the government to enact the new Animal Welfare Bill by mobilising mass public support for the legislation via a 100,000 on-line signature campaign launched to mark World Animal Day, celebrated globally on 4th October. The new Animal Welfare Bill was intended to replace Sri Lanka’s antiquated Prevention of Cruelty…
The issue of five million Unsecured Subordinated Redeemable Debentures by the Bank of Ceylon at an Issue price of Rs. 100 each was oversubscribed after receiving applications for over Rs. 08 billion. The Issue closed at 4.30 pm today (01 October 2015).
* Former Unilever Sri Lanka Board Director to head Watawala Tea Ceylon Ltd, a member of the Sunshine Holdings conglomerate Eyeing significant expansion, including exporting the Zesta brand to several countries, Watawala Tea Ceylon (WTC), one of the most admired branded Tea Companies, has appointed top marketing & sales professional and former Unilever Sri…
Colombo bourse regained lost grounds on Thursday where the foreign investors lift their activity to record the highest foreign participation after 17 months. Activity level of the foreigners increased during the week to record average of 59% of the market activity, amid the positive sentiments triggered in the UNHCR session, favoring the country and its…
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