The existing election laws in Sri Lanka favours candidates with huge financial resources, says the Asian Network for Free Elections (ANFREL) which deployed a team of election observers from countries across Asia to observe the August 17 Parliamentary Elections in Sri Lanka. The monitoring mission added that, as mentioned by the People’s Action for Free…
Janashakthi Insurance is to issue 180,500,066 new ordinary shares by way of a Rights Issue. The proportion of the shared to be issued would be one new ordinary share at Rs, 18.50 for every two shares held as at 19 August 2015. The current share capital of the entity is Rs. 1,496,000,440 consisting of 363,000,132…
Hikkaduwa Hotels Holdings (Private) Limited has bought more than 10 per cent of the voting rights of Bansei Royal Resorts Hikkaduwa PLC from an individual shareholder. The 16,665,680 shares thus bought at Rs. 11 each amounts to 31 per cent.
Colombo equities continued the positive vibes after the general election and the benchmark index tapped the 30 week high of 7,531.27 but closed with flat returns. All share index closed at 7,498.78, marginally up by 0.08 index points or (+0.0%) while S&P SL20 index gained 6.60 index points (+0.16%) to end at 4,164.31. Index-heavy caps…
Greater clarity over economic policy matters more for the credit than the party composition of Sri Lanka’s next government, says Fitch Ratings. Improved economic policy credibility and coherence would strengthen Sri Lanka’s resilience to growing investor uncertainty towards emerging Asia. The establishment of a new government with a clear electoral mandate following parliamentary elections on…
Dr. Harsha de Silva and Eran Wickremaratne recently gained prominence among the masses as two United National Party (UNP) members who speak, debate and explain issues relating to the economy to the masses. Though they were appointed to the former Parliament as members through the National List, for the first time they contested the Colombo…
On a request by the Pan Asia Bank Banking Corporation PLC, the Central Bank of Sri Lanka (CBSL) has extended the time period for the ban to comply with the CBSL’s minimum capital requirement. The CBSL’s Monetary Board has extended the time period as Rs. 05 billion by 01 January, 2016, Rs. 7.5 billion by…
The Ceylon Chamber of Commerce extends its warmest congratulations to the United National Front for Good Governance, the coalition led by the United National Party, for their decisive victory at the just concluded General Elections for the 8th Parliament. We believe that the elections were conducted in a free and fair manner, allowing the people…
GlaxoSmithKline (GSK) Pharmaceuticals’ trailblazing new sales force remuneration programme that eliminates individual sales targets, has been successfully implemented in Sri Lanka following execution over the past 18 months in 150 countries in which the global pharmaceuticals giant operates. The new remuneration methodology is based on the core principle that GSK Pharmaceuticals will not link remuneration…
by Anusha Ondaatjie Sri Lanka votes on Monday to pick a new parliament for the second time since the end of a bloody civil war that deterred investors and tourists. The country’s economy has grown an average of 7.4 percent per year in that time, fueled in part by visitors to its beach resorts. Sri…
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