Orient Finance and Bartleet Finance PLC which are subsidiaries of Janashakthi PLC have decided to amalgamate and continue activities as a single legal entity as a licensed finance company. The Central Bank of Sri Lanka has granted its approval in principle for this proposed amalgamation.
Colombo equities ended on negative note after two consecutive sessions of gains amid profit taking and political uncertainties. Both indices witnessed declines ahead of monetary policy review where the main index shed 16.08 points or 0.22% to end at 7,273.69 while 20-script S&P SL 20 index marginally declined by 4.89 points (-0.12%) to end at…
Perodua aims to sell one million Myvis by end-2017 from the 850,000 recorded as at end-April this year, on the back of continued demand and other promotions. President and chief executive officer Aminar Rashid Salleh said on average, bookings for the Myvi were at about 8,000 units per month. “We are cautiously optimistic that with…
Reliance Industries’ Chairman and Managing Director Mukesh Ambani has kept his annual salary capped at Rs 15 crore for the seventh year in a row. It helps that he is one of the richest men in the world, worth $20.2 billion, so this ‘cap’ is really small change. A statement by the company says that…
Switzerland says it is working towards upgrading the ‘Avoidance of Double Taxation Agreement’ and the ‘Bilateral Investment Treaty’, which it has signed with Sri Lanka. This was revealed by Ms. Livia Leu, Ambassador Delegate of the Federal Council for Trade Agreements of Switzerland, when she visited the Ceylon Chamber of Commerce, during this week. Speaking…
Fitch Ratings-Colombo/Hong Kong-21 May 2015: Fitch Ratings Lanka has affirmed Sanasa Development Bank PLC’s (SDB) National Long-Term Rating at ‘BB+(lka)’. The Outlook is Stable. KEY RATING DRIVERS The rating captures SDB’s high exposure to the retail and lower-end SME segments, its weak asset quality, and pressure on capitalisation due to strong loan growth. The rating…
The Board of Directors of Kalpitiya Beach Resorts PLC wishes to clarify its position with regard to the allegations levelled by certain media. Kalpitiya Beach Resorts PLC (KBR PLC) is a subsidiary of Citrus Leisure PLC, and is one of three ambitious resort ventures undertaken by the Group. Two of those projects, in Hikkaduwa and…
Sri Lanka is a paradise for Sapphires and foreigners in the past have and come today to either Colombo or Ratnapura in search of Sapphires said chairman of the International Colored Gem Stones Association, Benjamin Hackman. He made this comment while attending the International Colored Gem Stones Congress held by the International Colored Gem Stones…
Colombo stock witnessed positive returns on Wednesday amid the continued drop in T-bill yields for the tenth consecutive week. During the opening hours, bourse crossed 7,296 mark but failed to maintain the positive momentum where main index gained 23.57 index points or 0.32% to close at 7,289.77. 20-scrip S&P SL index bagged 26.69 index points…
A software which could assist in preventing Sri Lanka maritime zone from being polluted by arriving ships has been prepared jointly by the Information and Communication Technology Agency of Sri Lanka (ICTA) and the Marine Environment Protection Authority (MEPA). This software enables the systematic and efficient removal of garbage or pollutants in vessels arriving to…
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