During a special meeting of the Hatton National Bank Board of Directors this evening (27 March), Chairperson Dr. Rani Jayamaha said she would voluntarily resign from her post and retire. Following her announcement, the Bank’s Non-Executive Independent Director Ms. M.A.R.C. Cooray has been appointed as HNB Chairperson. Dr. Rani Jayamaha has decided to resign from…
Fitch Ratings Lanka has upgraded Sri Lanka-based AMW Capital Leasing and Finance PLC’s (AMCL) National Long-Term Rating to ‘BBB+(lka)’ from ‘BB-(lka)’. The Outlook is Stable. The multiple-notch upgrade follows Fitch’s assessment of support from its 90%-parent, Associated Motorways Limited (AMW). KEY RATING DRIVERS AMCL’s rating reflects Fitch’s view that support would be forthcoming from AMW,…
Chinese President Xi Jinping Thursday called on Sri Lanka to protect the legitimate interests of Chinese companies, expressing willingness to deepen cooperation in trade and infrastructure. Xi made the remarks during talks with Sri Lanka’s new President Maithripala Sirisena, who is paying a state visit to China and to attend the 2015 Boao Forum for…
Preparation of the Gazette notifications on the ‘Super Gains Tax’ and the ‘Mansion Tax’ proposed by the new government through its interim budget are reportedly in their final stages and are to be released shortly. Very reliable sources reveal that though work on the preparation of the bill and Gazette notification on the Super Gains…
By Shehan Baranage Main Chinese lenders to Sri Lanka say they have offered the best interest rates to Sri Lanka for their loans and that they do not have any hidden agendas in lending to this country.“We do not have strings attached to these loans as some others have,” firmly reiterated a top official of…
Referring to recent media reports, which pointed towards bribery and corruption involving the pharmaceutical industry as a whole, the Sri Lanka Chamber of Pharmaceutical Industry (SLCPI) went on record saying that they wished to clearly distance themselves from such allegations. The Pharmaceutical Chamber reiterates that it has and will always support the National Medicines Regulatory…
Blue Ocean Ventures and the Indian Angel Network in partnership with the Lankan Angel Network announced the launch of Venture Engine 2015 at an event held at the OZO Colombo. Since its inception in 2012, Venture Engine has been helping entrepreneurs to take their businesses to the next level and has proven to be both…
* At present unit labour cost is highest but productivity is the lowest in the world in Lankan plantations Planters’ Association of Ceylon Chairman, Roshan Rajadurai in a media statement, explains the current position on Sri Lankan plantation worker wages, noting that while labour costs in the country are the highest in the sector, especially…
Colombo equities slumped further on Wednesday despite the drop in T-Bill yields. The core index declined to 6,973.03 with a drop of 24.90 points (-0.38%) while S&P SL 20 index lost 15.86 points or -0.40% to close at 3,961.31. Today’s losses were mainly driven by the counters such as Ceylon Tobacco (closed at LKR 1,011.00,…
Sathosa Motors PLC’s Managing Director Sumal J.S. Perera has been appointed as the company’s chairman with effect from 01 April with the resignation of Ajitha de Zoysa as Chairman and Non-Executive Independent Director effective 31 March 2015. Meanwhile, serving Executive Director Tilak Dias Gunasekara will be appointed Managing Diractor of Sathosa Motors PLC effective 01…
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