Mr. Markand Nene, Executive Director (Marketing), Indian Oil Corporation Limited, India has retired from the company effective 31 December 2014. Accordingly, Mr. Nene also relinquished his post as Chairman of Lanka IOC PLC effective 31 December 2014. He did not hold any shares in Lanka IOC PLC during his tenure. Mr. Makrand Nene has served…
Colombo bourse started the election week in an optimistic note with notable returns and high market activity. Benchmark All share price index gained 71.75 points (+0.98%) to end at a 6-week high of 7,420.14 while S&P SL index gained 35.11 (+0.85%) to end at 4,150.24. Today’s gains were mainly led by blue chip counters such…
According to date released by the Sri Lanka Tourism Development Authority, the significant feature is the highest increase in the number of tourist arrivals into Sri Lanka in 2014 being from China. Among the approximate 1.5 million tourists to Sri Lanka, 128,166 have been from China, which is an increase of 136.1 per cent compared…
Videos and imagery from globally popular men’s lifestyle magazine Playboy will now be available in South Asia via the mobile platform. Shemaroo Entertainment Limited has associated with net mobile AG to distribute content from Playboy Enterprises Inc, in South Asian territories like India, Nepal, Bhutan, Sikkim, Sri Lanka, Pakistan and Bangladesh. Shemaroo Entertainment will not…
The funds spent on the construction of expressways by the incumbent government are reasonable, says Highways, Ports & Shipping Ministry Secretary R.W.R. Pemasiri. He stated this while addressing a forum organized by the Sri Lanka Engineering Professionals Association at the Cinnamon Lakeside in Colombo. Around Rs. 113.6 billion was spent on the complete construction of…
Toyota announced today that it is following Tesla’s lead and opening up more than 5,600 fuel cell and related patents to the rest of the automotive industry for royalty-free use. The automaker will open up access to 5,680 fuel cell-related patents held globally, including critical technologies developed for the new Toyota Mirai. The list includes…
Oil prices dropped to fresh 5-1/2-year lows on Monday as worries about a surplus of global supplies and lackluster demand dragged on oil markets. Russia’s oil output hit a post-Soviet high last year, averaging 10.58 million barrels per day (bpd), up 0.7 percent thanks to small non-state producers, Energy Ministry data showed. Iraq’s oil exports…
While setting out recommendations for a robust macro-economic position in Sri Lanka following the 08 January Presidential election, the Ceylon Chamber of Commerce has released a statement of certain guidelines to be followed. Sri Lanka must embrace diversity and value the benefits it brings to society. From an economic perspective, a harmonious and inclusive society…
Regional Development Bank (RDB Bank) is preparing to raise Rs. 2.5 billion through a debenture issue. The bank is to issue 25 million debentures of Rs. 100 each and the Colombo Stock Exchange has approved to list this issue. The issue opens on 16 January.
SriLankan Airlines has sent a clarification over news reports on social websites that it had air freighted several luxury cars in its craft. The national airlines says that though during earlier years valuable cargo like these have been sent as daily air cargo through its aircraft, since July 2014 the airline has not carried any…
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