A global arms trade treaty regulating the multibillion-dollar business has come into force – a move hailed as “a new chapter” by UN chief Ban Ki-moon. He said he hoped the treaty would help prevent the transfer of weapons to “warlords, human rights abusers, terrorists and criminal organisations”. The deal also bans arms supplies if…
Colombo equities ended in negative territory today as core index lost 13.52 points (-0.19%) to end at 7,238.05 while 20- script S&P SL index merely lost 0.44 points (-0.01%)to end at 4,063.17. Today’s losses were mainly driven by blue-chips such as Access Engineering (closed at LKR 34.70, -3.9%), DFCC Bank (closed at LKR 218.50, -2.7%)…
When a new government is formed he would negotiate directly with the International Monetary Fund (IMF) in Washington instead of dealing with ‘local jokers’, said Opposition Leader Ranil Wickremesinghe while addressing a forum in Colombo with common opposition candidate Maithripla Sirisena to explain their future strategies to the business community. While speaking further Mr. Wickremesinghe…
Bajaj Auto shares gained more than 1 per cent on Monday, with the stock outperforming the broader auto sub-index on the BSE in early trade. India’s largest exporter of motorcycles and three-wheelers said on Friday that it had bagged an order for 1.25 lakh units of Discover-125M motorcycles from Sri Lankan government. The “repeat order”…
The order was secured through Bajaj distributor in Sri Lanka, David Pieris Motor Company, after a detailed evaluation process by the Government of Sri Lanka. “The company has now secured a repeat order from them through the company’s distributor in Sri Lanka for the supply of 1.25 lakh units of Discover 125M, which the company expects…
Colombo stock market started its weekly operations on a mixed note where main index failed to maintain the momentum gained on last week. Main index marginally shed 1.03 index points or 0.01% to close at 7,251.57 while 20-scrip S&P SL20 index slightly increased by 0.82 index points (+0.02%) to end at 4,063.61. Price declines in…
Fitch Ratings Lanka has withdrawn Asian Alliance Insurance PLC’s National Insurer Financial Strength Rating and National Long-Term Rating of ‘BBB(lka)’. The Sri Lanka-based company’s Insurer Financial Strength Rating of ‘B’ has also been withdrawn. All the ratings were on Rating Watch Negative. The ratings have been withdrawn due to insufficient information to maintain them. Fitch…
Investing while safeguarding one’s cash is not an easy task, because there are many rackets carried out under the guise of investments. Many have lost their money and assets by being duped by such rackets in the recent past. Hence, www.adaderanabiz.lk inquired from the investment consultant firm Candor Group’s Chief Executive Officer Ravi Abeysuriya on…
Currently some 5,000 motor vehicles are being registered per month in Sri Lanka and around 50,000 have been registered during this year alone, says the Commissioner General of Motor Traffic. Commissioner General of Motor Traffic S.H. Harischandra told www.adaderanabiz.lk, “Around 5,000 motor vehicles are being registered since August. Before this it was somewhere around 3,000…
The Sri Lanka government said that the country is placed 89th out of 146 nations in the Forbes’ Best Countries for Business 2014 ranking, while India was 93rd. The Sri Lanka government said in a statement that Forbes noted, “however, low tax revenues are a major concern. A large trade deficit remains a concern, but…
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