There are still no possibilities for motorists to enter the Katunayake expressway using the outer circular interchange at Kottawa due to the second and third phases of the section not being completed. Though the second phase from Kaduwela to Kadawatha had begun the construction work on the third phase from Kadawatha to Kerawalapitiya had not…
China has agreed to provide the funds for the third phase of the Southern Expressway. An agreement for a Chinese loan was signed in Colombo between Sri Lanka Treasury Secretary Dr. P.B. Jayasundere and Chairman of China Import Export Bank Chairman Li Ruogu for the construction of the stretch from Mattala to Hambantota under the…
The currency swap bilateral agreement entered into between the Central Bank of Sri Lanka and the People’s Bank of China aims at promoting the exchange of the Chinese Yuan and Sri Lankan Rupee between the countries for trade and other agreed purposes. This would benefit the trade links between the countries, said the Governor of…
The Bank of Ceylon debenture issue was oversubscribed by Rs 08 billion and was closed last evening (16 September) at 4.30, says the bank. The BoC debenture issues was initially to raise Rs 04 billion in the first phase and to proceed on the next phase and raise an additional Rs. 04 billion in the…
Colombo stock market witnessed marginal returns on Wednesday amid notable foreign participation. Core index gained 3.10 index points or 0.04% to end at 7,179.20 while 20-scrip S&P SL index bagged 0.05 points to close at 3,976.81. Price appreciations in counters such as Lion Brewery (closed at LKR 635.00, +3.2%), Sri Lanka Telecom (closed at LKR…
Fitch Ratings Lanka has assigned Hatton National Bank PLC’s (HNB; AA-(lka)/Stable) proposed senior debentures of up to LKR6bn an expected National Long-Term Rating of ‘AA-(lka)(EXP)’. The debentures, which are to have tenors of three, five and 10 years and carry fixed coupons, are to be listed on the Colombo Stock Exchange. HNB expects to use…
Sri Lanka and China signed the following agreements to further cooperation between the two nations: 1. Plan of Action of the Democratic Socialist Republic of Sri Lanka and the People’s Republic of China to Deepen the Strategic Cooperative Partnership Signed for Sri Lanka: Prof. G.L. Peiris, Minister of External Affairs Signed for China: Mr. Wang…
The government has taken steps to immediately reduce the electricity tariffs and prices of petrol, diesel and kerosene oil following commissioning of the third phase of the Norochcholai coal power plant which added another 900 megawatt of electricity to the national grid and also with an eye on attracting the voters at the upcoming Uva…
Toyota unveiled Friday a concept car that offers a look into the future of technology for the next generation of automobiles and consumers. The U^2, or Urban Utility, has a box-shaped exterior with a customizable interior that features a sleek design, removable front seat, an intuitive shifter and a spot to mount a tablet in…
While addressing the event to mark the commissioning of the third phase of the Norochcholai coal power plant which is Sri Lanka’s largest power generation project, a representative of the main contractor to the project China Machinery and Engineering Corporation (CMEC) said that the reliability of the plant has by now been increased. There was…
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