Parties with vested interest behind baseless allegations Baseless allegations have been raised with ulterior motives to mislead the people of Jaffna against the Northern Power Company (Pvt) Ltd falsely claiming the power plant located at Chunnakkam (Jaffna) is causing pollution of the wells located 2 to 3 kms away from the plant. “As Northern Power…
Colombo stock market closed on mixed note on Tuesday after the significant decline during yesterday’s session. ASI reached 7,403.08 (+35 points) during the morning session, but did not manage to sustain the positive momentum during the latter part and closed lower at 7,368.50 with a marginal gain of 1.82 index points (+0.02%). 20-scrip S&P SL…
At a glance, if all popularist pledges given in the election manifesto put forward by the common opposition candidate are to be implemented, it would need at least Rs. 200 billion and even under a situation where the government revenue does not decline, there is a danger of the budget deficit rising up to 8%…
German Ambassador for Sri Lanka His Excellency Jergen Morhard has met Hon. Dr. Harsha De Silva, Minister of Policy Planning and Economic Affairs. At this meeting the German Ambassador has stated that Germany looks forward to becoming a friendly partner in Sri Lanka’s economic development. Hon. Dr. Harsha de Silva expressed Sri Lanka’s readiness to…
The newly appointed Secretary of Defence, B.M.U.D. Basnayake, today confirmed that the account held with the Bank of Ceylon’s Thapprobane Branch, containing nearly Rs 8 billion, is not under the name of his predecessor and that it belongs to the Ministry of Defence. In a press conference yesterday (18), Finance Minister Ravi Karunanayake had claimed…
Sri Lanka’s new government will review Chinese infrastructure projects awarded under the previous administration, a junior minister said, a move bound to please Indian and Western powers concerned about Beijing’s access in the island state. On Friday, the government said it would review a $1.5 billion port deal with China Communication Construction Co Ltd over…
Sri Lanka’s main stock index plunged almost 2% on Monday amid panic selling by retail investors on policy uncertainties. Benchmark All Share Price Index sank to a two week low of 7,366.68 recording drop of 147.18 points (-1.96%) which is the highest intra-day drop since 24th Nov 2014. S&P SL 20 index lost 103.67 points…
Former Secretary of the Ministry of Defence and Urban Development, Gotabaya Rajapaksa, today rejected allegations leveled against him, regarding an account in the Thaprobane Branch of the Bank of Ceylon containing nearly Rs 8 billion under his name. In a press conference yesterday (18), newly appointed Finance Minister Ravi Karunanayake claimed that a sum of…
Arpico Insurance Limited (Code: AINS) was listed on the DiriSavi Board of the Colombo Stock Exchange (CSE) on January 16, 2015. Prof. Laxman R Watawala, Director – Richard Peiris & Company PLC rang the ceremonial opening bell to begin trading. He was joined by Mr. Viville Perera, Director (Arpico Insurance), Mr. S. Sirikananathan, Director (Arpico…
On the direction of the Hon. State Minister of Aviation Faizer Mustapha, SriLankan Airlines,has re-deployed its capacity and adjusted its scheduled operations to focus on more commercially sustainable services. While the airline has already achieved a significant improvement in its financial performance for the current financial year, it is of the view that these commercially…
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