Sri Lanka and India need to now move boldly towards the Comprehensive Economic Partnership Agreement (CEPA), said Indian Prime Minister while addressing the Business Forum organized by a group of Indian business leaders led by the Confederation of Indian Industry this evening (13 March) at the Taj Samudra Hotel in Colombo. Meanwhile, Chairman of the…
A Group of Indian business leaders led by the Confederation of Indian Industry is currently in Sri Lanka to attend the Ceylon Chamber of Commerce organized Business Forum, which the Indian Prime Minister Honorable Mr. Narendra Modi is expected to address. The Business Forum will be held on the 13th March, 2015, starting at 5.00…
Colombo bourse experienced a lackluster trading session on Thursday ahead of the Indian Prime Minister’s visit after 28 years. Main share index declined slightly by 1.12 index points or 0.02% to end at 7,109.07 while 20-scrip S&P SL index shed 1.91 index points (-0.05%) to close at 4,068.83. Price depreciations in counters such as Ceylon…
Several representatives of the Sri Lanka Vehicle Importers’ Association had moved the Appeal Court challenging Finance Minister Ravi Karunanayake’s order to remove the depreciation tax formula and to impose the brand new vehicle taxes when importing vehicles. Lawyer K. Deekiriwewa told www.adaderanabiz .lk that the Appeal Court took up this appeal today (12 March) and…
Fitch Ratings Lanka has affirmed Sri Lanka Insurance Corporation Limited’s (SLIC) Insurer Financial Strength rating (IFS) at ‘BB-‘ with a Stable Outlook. The agency has also affirmed the National Insurer Financial Strength Rating and National Long-Term Rating at ‘AA(lka)’ with a Stable Outlook. KEY RATING DRIVERS SLIC’s ratings reflect the company’s well-established franchise and market…
Under a petition on Orient Garments PLC with respect to a winding up operation filed before the Western Province Provincial High Court on 03 March 2015, the company has taken immediate steps to oppose this winding up operation by filing an affidavit as per the terms of the Company Winding Up Provisions.
Under the Sri Lanka Central Bank’s master plan to consolidate the financial sector companies, Janashakthi PLC, earlier known as Janashakthi Limited, which had controlling interests over Orient Finance PLC, has entered into an agreement with Bartleets Transcapital Limited to acquire 86.79 per cent or 6,639,998 issues ordinary share capital of Bartleet Finance PLC with the…
Indian Prime Minister Narendra Modi’s official visit to Sri Lanka on Friday reflects a bounce back in bilateral relations as the South Asian power seeks to mitigate China’s growing influence on its Indian Ocean neighbors. Sri Lanka is the last stop on Modi’s trip after visits to Indian Ocean island states Seychelles and Mauritius. It…
Colombo Equities surrendered early gains and closed lower for the eighth straight session on Wednesday, recording the longest losing streak since February 2014 as rising interest rates continued to weigh on the investor sentiment. At today’s T-bill auction, the yields rose across the board with 3-month, 6-month and 1-year yield reaching 7.10% (+21bps), 7.31% (+33bps)…
Colombo equities witnessed lackluster trading session on Tuesday where market closed with mixed results. Main index continued the losing streak for the sixth consecutive day shedding 6.28 index points (-0.09%) to end at 7,130.05 while 20-scrip S&P SL index marginally gained 2.99 index points (+0.07%) to close at 4,087.97. Price declines in counters such as…
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