Rs. 7.5 billion is to be obtained from the Treasury to re-launch the massive loss incurring Lak Sathosa and its restructuring has been entrusted to KPMG Sri Lanka, said Minister of Industry and Commerce Risad Badhiutheen. He said today in Colombo that KPMG would restructure all sections of Lak Sathosa including its storage facilities, marketing…
Work on the Kaduwela-Kadawatha 8.9 kilometre stretch of the Outer Circular Highway, the second phase of the highway that connects the Southern Expressway at Kottawa and on which work was started by the former government, is to be completed and opened to the public on 30 June by the government, learns www.adaderanabiz.lk Work is also…
Colombo stock market closed with flat returns on Wednesday shedding the early gains as investor sentiment continued to remain weak ahead of potential general election. During the opening hours, main index crossed 7,072 mark but failed to maintain the momentum, closed 0.13 index points (-0.00%) lower at 7,053.83. The 20-scrip S&P SL index shed 11.06…
A senior delegation headed by MasterCard’s Co-President – Asia Pacific, Ari Sarker and Executive Director – South Asia, Vikas Varma paid a courtesy visit to Prime Minister Ranil Wickremesinghe earlier this week. MasterCard reaffirmed its commitment to the Sri Lankan market and offered support to the government in its growth and development agenda. The annual…
In a bid to improve investor confidence Sri Lanka, the Securities and Exchange Commission of Sri Lanka (SEC) which regulates the capital markets has said it is considering a mandatory rating for stock broking firms. SEC chairman Thilak Karunaratne is reported as saying in the SEC’s annual report that stock broking companies perform an important…
Police have raided the headquarters of Toyota Motor in Toyota City, as well as its office in Tokyo. It comes after the arrest of senior American executive Julie Hamp on suspicion of importing a controlled substance into Japan. Toyota President Akio Toyoda said last week that he believes she did not intend to violate the…
The Sri Lankan Rupee would stabilize up to Rs. 130 as against the US dollar within the next two weeks, says Finance Minister Ravi Karunanayake. While speaking in Parliament he said that currently a US dollar is being exchanged at Rs. 133.90 and that it was at Rs. 133.20 when the new government came in…
Huawei’s newest flagship smartphone, the successor of Ascend P7, Huawei P8 is set to enter the shores of Sri Lanka within a couple of weeks according to its local office. The entry of Huawei P8 will target the high-end user and is speculated to enter at a price range of LKR 65,000-75,000, which is comparatively…
Colombo equities continued the positive momentum for the second consecutive session driven by buying pressure in heavy cap counters. Benchmark All share price index gained 14.31 points or +0.20% to end at 7,053.96 while S&P SL 20 index gained 25.77 (+0.66%) to end at 3,938.46. Today’s gains were mainly led by price appreciations in primary…
The Sri Lanka – Singapore Business Council (SLSBC) of the Ceylon Chamber of Commerce will be organizing a Trade and Investment Promotion Mission to Singapore from 29th July – 1st of August 2015. This will be the 5th such outward mission to Singapore organized by the SLSBC since 2010. The mission is planned to coincide…
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