By W.A Wijewardena Treating losses lightly by the Central Bank The Central Bank has issued a response to the article of this writer in this series titled ‘The continually loss-making Central Bank puts nation on red alert’. The reading of the response reveals that while the arguments presented have been flimsy, the Central Bank has…
Sri Lanka is set to possess maritime borders extending up to 800 kilometres from shore in 2018 and it is believed that there are oil and natural gas deposits within these maritime areas said National Ocean Affairs Committee chairman Chris Tilaka Sri Dharmakeerthi. During an exclusive interview with www.adaderanabiz.lk he added, Sri Lanka is now…
Colombo bourse ended with positive returns on Tuesday as benchmark All Share Price index gained 11.18 points or 0.15% to end at 7,266.20 while S&P SL 20 index gained 9.51 points (+0.24%) to end at 4,046.83. Price advancements in counters such as Aitken Spence Hotel Holdings (closed at LKR 83.90, +6.2%), Ceylon Tea Services (closed…
Lanka IOC (LIOC) which showed profits of Rs. 722 million during the first quarter of 2014 has recorded a loss of Rs. 1.06 billion during the March quarter of 2015 in the face of the fuel price reductions by the government, reveals its annual report. In January this year the government reduced the prices of…
A new state-of-the-art facility for the manufacture of motorcycle tyres for the local and international markets has been commissioned in Sri Lanka by CEAT Kelani Holdings, the company that manufactures half of the country’s tyre requirements. Set up within the CEAT Kelani complex at Kelaniya with an initial investment of Rs 95 million, the new…
Work In Sri Lanka (WISL), a volunteer-led brain gain initiative that aims to position Sri Lanka as an attractive work destination, for highly skilled individuals and high caliber businesses, will hold its quarterly meet up in Colombo today (Tuesday, 19 May) at 6.30 pm at Clique. This networking event is for people who have recently…
Dilith Jayaweera, the Joint Managing Director of TV Derana, has sent a letter of demand to the Director of MBC Network (Pvt) Ltd, Rajendran Rajamahendran, seeking Rs 2 billion in damage over alleged defamatory statements made against him on Sirasa TV. The same letter of demand has also been sent to Faraz Shauketaly who describes…
Colombo equity market started weekly operations on negative note where both counters shed returns amid the prevailing political uncertainties. Main index swung between gains and losses on Monday where index touched 7,277 mark in the opening hours. All share index marginally declined by 3.65 index points or 0.05% to end at 7,255.02 while 20-scrip S&P…
Lord Mayor of the City of London Alan Yarrow visited the Colombo Stock Exchange (CSE) and took part in the Market Opening Ceremony. Furthermore he also held discussions on the investment prospects of the Sri Lankan Capital Market and the potential for the growth of foreign direct investment under the new government. The British High…
A no confidence motion, signed by over 100 MPs, has been handed over to the Speaker against Finance Minister Ravi Karunanayake, Parliamentarian Ranjith de Zoysa told Ada Derana. The motion was handed over to Speaker Chamal Rajapaksa on Monday (18) afternoon. However, Minister Karunanayake during a press conference held last week insisted the United People’s…
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