Central Bank of Sri Lanka Governor Arjuna Mahendran returned to office to resume his duties this morning, said very reliable sources from the Bank. However, when www.adaderanabiz.lk tried to contact Governor Mahendran over the phone, he replied that he was at a meeting and cut the call. Arjuna Mahendran who was appointed Governor of the…
Fitch Ratings has affirmed Sri Lanka’s Long-Term Foreign and Local Currency Issuer Default Ratings at ‘BB-‘. The issue ratings on Sri Lanka’s senior unsecured foreign and local currency bonds are also affirmed at ‘BB-‘. The Outlooks on the Long-Term IDRs are Stable. The Country Ceiling is affirmed at ‘BB-‘ and the Short-Term Foreign Currency IDR…
Colombo equities continued the positive momentum for the second consecutive session amid further drop in T-Bill rates. The main index started out with a negative tone in the morning session to record a drop of 27.29 points or -0.4%, but changed directions in the afternoon to end the market activities in green. The All Share…
Professor A.K.W. Jayawardane has been appointed as a Non Executive Independent Director of the Commercial Bank of Ceylon PLC with effect from 21 April 2015. A brief resume of Prof. Jayawardane:
Sri Lanka’s leading private sector bank launches unique short term ‘Millionaire’s Account’ A new, aspiration targeted investment plan that enables account holders to build up a minimum balance of Rs 1 million within a specific period without a high initial investment, has been launched by the Commercial Bank of Ceylon, the largest private sector bank…
Industry leaders at the World Economic Forum on East Asia have said they expect oil prices to rise further. The leaders, meeting in the Indonesian capital, Jakarta, said the long-term view was that demand for oil is growing. Oil prices are around their highest levels for the year. The price of Brent crude was at…
Plans are afoot for Sri Lanka and Japan to formulate and sign a Free Trade Agreement (FTA) between the two countries to enhance bilateral trade. The plan is for a possible FTA between Sri Lanka and Japan in 2015, according to the Sri Lanka-Japan Business Cooperation Committee. This was revealed during a meeting held in…
China’s President Xi Jinping has signed agreements with Pakistan promising investment of $46bn (£30.7bn). The focus of spending is on building a China-Pakistan Economic Corridor (CPEC) – a network of roads, railway and pipelines between the long-time allies. They will run some 3,000km (1,800 miles) from Gwadar in Pakistan to China’s western Xinjiang region. The…
A special team of representatives from the fisheries division of the European Commission (EC) is reportedly scheduled to visit Sri Lanka in June. The team is to study the steps taken by the Sri Lankan government on the EC recommendations when it suspended the import of fishery products from the island from 15 January 2015….
The Thailand-based ONYX Hospitality Group announces the appointment of Krishantha Damunupola as hotel manager for the soon-to-open OZO Kandy. Mr Damunupola has held a number of senior management roles in the hotel industry for more than 20 years, including three years as operations manager for Hilton Imperial Dubrovnik in Croatia, one of the highest rated…
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