Dolekanda Power (Private) Limited has been unable to obtain energy permits from the Sustainable Energy Authority (SEA) for its two 3.0 MW mini-hydropower projects named Rakwana I and Rakwana II in its IPO prospectus, due to a dispute in resource allocation. The total funds allocated from the Rs. 600 million IPO for these two hydropower…
All heads of banks and other institutions under the purview of the Finance Ministry have been requested to step down immediately, says Finance Minister Ravi Karunanayake. Minister Karunanayake said this during an exclusive interview with www.adaderanabiz.lk while adding that this is to enable his ministry to make the necessary appointments after the government change.
Colombo stock market wrapped weekly operations with negative returns on Friday despite fresh appointments to the key administration & economic positions, subsequent to the political turnaround in the country. Main share index declined by 35.99 index points or 0.48% to end at 7,513.86 while 20-scrip S&P SL index declined by 17.65 index points (-0.41%) to…
As bilateral trade topped $ 3Bn, Sri Lanka’s exports sector is readying one of the strongest ever delegations to this year’s Kunming international expo while Lanka’s second largest global supplier voiced that it is increasingly upbeat on the prospective FTA between both countries-and the $ 190 Bn Yunnan province is keen for a Corporate Agreement…
The Central Bank of Sri Lanka issued a commemorative silver coin with a face value of Rs.500 to mark the visit of His Holiness Pope Francis to Sri Lanka in recognition of the national importance of this event. The coin was presented to His Holiness Pope Francis and to His Excellency the President Maithripala Sirisena…
Colombo equities swung between gains and losses today to end the market activities on opposite directions. The benchmark index reached a high of 7,590.15 (23.45 points, +0.3%) in the morning session but closed in the minus column at 7,549.85 with a loss of 16.85 points (-0.22%). S&P SL 20 index gained slightly 4.09 points (+0.10%)…
The orderly conduct during Sri Lanka’s presidential election, and the peaceful handover of power to newly elected opposition candidate Maithripala Sirisena on 9 January, is a positive signal for political stability, says Fitch Ratings. Low governance standards are a key weakness for Sri Lanka, as reflected in its ‘BB-‘ rating; a smooth presidential transition may…
Noritake Lanka Porcelain Ltd (NLPL) has been bestowed with the unique honour of crafting the Holy Communion bowls for His Holiness Pope Francis’ visit to Sri Lanka. These brilliant white porcelain circular bowls measure 224.8 mm in diameter, 76.8 mm in height and weigh 682 grammes. They have been made from porcelain sourced 60% in…
President Maithripala Sirisena this evening (12 January) appointed a Cabinet of Ministers and Deputy and State Ministers to implement his 100 day programme. President Sirisena said that he would call for a General Election after the 100 days. Cabinet Ministers 1. Prime Minister Ranil Wickremesinghe – Minister of Economic Development & Policy Implementation 2. Ravi…
The Colombo Stock Exchange (CSE) has declared Wednesday 14 January as a holiday. This is since the Ministry of Public Administration and Home Affairs has declared 14 January as a special Public and Bank holiday.
Video Story
