Latest data from the Central Bank of Sri Lanka reveal that there has been a huge increase in the local borrowings by the new government since January 2015. Government spending has increased and its revenue has decreased due to the government employees’ pay hike and the slashing of essential items and fuel prices introduced through…
It is impossible to put a price tag on saving a life. Should a medical emergency occur on board a flight, attention is provided immediately by the crew and in some cases a flight diversion is required to the nearest airport for medical treatment. That is why Emirates has invested more than US$ 6 million…
The Finance Ministry has with immediate effect suspended the services of senior banker and Bank of Ceylon General Manager D.M. Gunasekera. Finance Minister Ravi Karunanayake said that there are several reasons for the suspension of Gunasekera and that misuse of authority, fraud and corruption are some among them. It is learned that one of the…
Incumbent Non Executive Director Indrajit Bose has been appointed Chairman of Lanka IOC PLC with immediate effect. Indrajit Bose served as Executive Director of West Bengal State Office at Indian Oil Corporation Limited. He has been a Non-Executive Director of Lanka IOC PLC since June 10, 2014. Meanwhile, D.K. Sharma, Executive Director (Retail Sales) of…
Colombo stock market started weekly operations on a negative note where bourse witnessed a lackluster trading session. Main index failed to maintain the positive momentum and lost 30.63 index points or 0.44% to end at 6,917.51. Meanwhile S&P SL20 index declined by 15.71 index points (-0.40%) to close at 3,893.87. Price depreciation in Lion Brewery…
It is no secret that China and India are showing keener interest on geo-strategically vital Sri Lanka. However, the arrival of Indian and Chinese tourists to Sri Lanka seems to be competitive. When the latest tourist data is analysed it shows that India has become the country from where the highest number of tourists have…
The Spanish legend and former captain of Barcelona, Carles Puyol was spotted in Sri Lanka with his wife Vanessa Lorenzo lately. Enjoying their holiday, Puyol posted a video of the couple at a whale watching tour. Carles and Lorenzo were also spotted enjoying a safari at the Udawalawe National Park. Being a nature lover, his…
A Board of Inquiry has found shocking details of corruption running into billions of dollars, manipulations of service contracting, recruitment of unqualified staff and major security breaches at the SriLankan Airlines under the former government. In February, the Minister of Ports, Shipping and Aviation Minister Arjuna Ranatunga appointed the Board of Inquiry (BoI) to report…
It has been revealed that since February 2012 Sri Lanka’s foreign reserves have recorded its lowest during last March. According to latest data from the Central Bank of Sri Lanka (CBSL) Sri Lanka’s foreign reserve has fallen to USD 6.8 billion in March 2015 while it was USD 7.4 billion in February. The last time…
It’s the kind of project that can make a legacy: A massive port complex, complete with luxury hotels and fancy shops, constructed on an artificial island. Mahinda Rajapaksa, the former president of Sri Lanka, was the driving force behind such a project, a $1.4 billion crown jewel to be built near Colombo by a state-backed…
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