After gaining the controlling stake of the tea brokering company Mercantile Produce Brokers Ltd (MPB) for Rs. 200 million, prominent investor, Pan Asia Bank Chairman and Managing Director of Royal Ceramics Nimal Perera says that it has been decided to market the tea produced by the Talawakelle and Kelani Valley Plantations belonging to the Hayleys…
Colombo City Holdings PLC sold its property located at 740, Galle Road, Bambalapitiya in Colombo 04 for a sum of Rs. 206,625,000 on 29 September.
During September 2014, the Monetary Board of the Central Bank of Sri Lanka approved in-principle another right (8) consolidation proposals submitted by banks and Non-Bank Financial Institutions (NBFIs) thus bringing the total number of proposals approved so far to 37. At the same time, consolidation plans of another four banks and four Non-Bank Financial Institutions…
Further to the announcement on 4 August 2014, the transfer of 51 percent stake of Prime Grameen Micro Finance Limited to Hatton National Bank PLC will take place on or before 31 October 2014. This will be after the necessary approvals of the regulators.
Colombo bourse closed higher on Tuesday driven by gains in blue chips amid notable net foreign outflow. Core index bagged 13.98 index points or 0.19% to close at 7,252.14 while 20-scrip S&P SL index gained 19.30 index points or 0.48% to end at 4,038.30. Price increases in counters such as John Keells Holdings (closed at…
The 2015 Budget may be presented to Parliament earlier than usual this year, said Minister of Mass Communication and Media Keheliya Rambukwella during a media briefing a short while ago. He said since the Appropriation Bill for 2015 had been presented earlier than in other years the Budget too would be similarly presented earlier. He…
The 25 percent electricity traffic reduction effective September would be to all domestic users whether the consumption is below or over 300 units per month, said Media Minister Keheliya Rambukwella during the media briefing to announce Cabinet decisions a short while ago. He added that news reports stating that the 25 percent reduction would be…
British luxury carmaker Jaguar launched its cheapest ever car on Monday, the first new model in a range designed to widen its appeal to women and younger drivers and take on bigger rivals such as BMW, Audi and Mercedes-Benz. After years in the doldrums, Jaguar has enjoyed a new lease of life since it was…
Union Bank of Colombo PLC has announced that the Central Bank of Sri Lanka has approved the appointment of Indrajith Asela Wickramasinghe as its Chief Executive Officer designate with effect from 15 October 2014. The appointment of this post will take effect on 15 November 2014.
Cedric Royle Jansz will succeed J.M.S. Brito as Chairman of DFCC Vardhana Bank when Mr. Brito’s term of office ends on 11 October 2014. Mr. Brito’s retirement is according to the Banking Act where the maximum period of a director of a licensed commercial bank is nine years. C.R. Jansz is currently the Chairman of…
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