It has been revealed that there are three accounts at the Dubai National Bank with over USD 02 billion worth of assets belonging to Sri Lankans and the government has handed over the task of getting them back to Sri Lanka to the relevant US and Indian authorities, said Cabinet spokesman and Health & Indigenous…
The Chinese company engaged in reclaiming land from the sea for the Colombo Port City project has reportedly requested permission to construct a protective bund surrounding the already reclaimed land. This request is under discussion right now, said Deputy Minister for Policy Planning Dr. Harsha de Silva. The Colombo Port City project is a 100%…
As bilateral trade with EU crossed the $5Bn mark for the first time and after months of speculation and vibes on the coveted GSP Plus, EU announced on 18 March the actual start of the recovery process will commence right here in Colombo as early as next week-and setting the record straight on the GSP+,…
The media warmly welcome France, Germany and Italy’s decision to join a China-led bank, while lashing out at the US for “obstructing” others’ participation. The three European countries have agreed to join the UK in becoming members of the Asian Infrastructure Investment Bank (AIIB), the Xinhua News Agency reports. The move comes after the US…
The Singapore Prime Minister’s Office (PMO) has lodged a police report about a fake website bearing the PMO logo and announcing the death of former Prime Minister Lee Kuan Yew, says The Strait Times of Singapore. Screenshots of the website started circulating on Wednesday night, leading some foreign media outlets to carry reports of Mr…
Prime Minister Ranil Wickremesinghe has decided that a Select Committee should be appointed to probe the alleged irregularities at the Colombo Stock Exchange since 2010. Wickremesinghe has submitted a proposal to the Secretary General of Parliament requesting that such a committee be appointed, reports www.adaderana.lk Parliamentary correspondent. However, whether or not a select committee would…
National Development Bank PLC (NDB) has purchased 14,870,573 which is 8.45 per cent ordinary voting shares of Seylan Bank PLC. Accordingly, the total holding of NDB Group in Seylan Bank PLC is now 9.53 per cent of shares.
Colombo bourse edged lower on Wednesday despite the unexpected drop in T-Bill yields. Political and economic policy uncertainties are weighing on the market sentiment as investors adopt a wait-and-see approach. The main index edged down to 7,043.90 with a loss of 13.10 points (-0.19%) while S&P SL 20 index dropped by 15.48 points or 0.38%…
The Central Bank of Sri Lanka (CBSL) has decided to keep the policy interest rate that determine the interest rates of commercial banks unchanged for March as well while stating that inflation would remain low and that loans obtained by the private sector and economic activities have increased. Loans obtained by the private sector during…
Chinese Prime Minister Li Keqiang is likely to have friendly discussions with President Maithripala Sirisena who is scheduled to visit China later this month and negotiations with respect to the suspended Colombo Port City Project (CPCP) will be a high priority topic, Ada Derana learns. Chinese officials are also confident that constructions of the CPCP…
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