Even though the salaries of some 1,225,000 government sector employees would be increased through the budget to be introduced by the new government, room would not be allowed for any increase in the budget deficit, said Finance Minister Ravi Karunanayake. He added that he has received strong advice from Prime Minister Ranil Wickremesinghe on this…
The bourse erased early gains and edged lower on Friday and closed the weekly operations on a negative note. All Share Index closed on nearly four week low of 7,276.63 by shedding 52.96 index points or 0.72% while 20-scrip S&P SL20 index declined by 28.93 index points (-0.70%) to end at 4,078.89. Policy uncertainties, impending…
Since a considerable stock of Sri Lanka’s low grown tea is bought by Russia, the Russian economic crisis has gravely affected this tea industry. With the prices of low grown Sri Lanka tea dropping further, BIZ 24X7 of the Adaderana 24X7 channel spoke to Asia Siyaka Tea Brokers Deputy Chairman Chamara Dissanayake.
Expressing disappointment at the wide publicity generated for the “charges” against him, former Central Bank Governor Ajith Nivard Cabraal today said he is confident that attempts to “vilify and discredit” him would be unsuccessful, and he would be “fully vindicated” in time to come. He was referring to the recent complaints made to the Commission…
Colombo bourse witnessed an action-packed day amid the speculation of changes in top position in the SEC and the unexpected reduction in fuel prices by 22% ahead of the announced schedule. In the morning hours ASI declined to 7,223.92 (-93.32 index points or -1.3%) and recovered back to gain 5.19 index points or 0.07% to…
The Colombo Stock Exchange (CSE) has been named the “Most Sustainable Growth Exchange” in Asia for 2014 by Capital Finance International (CFI), a print journal and online resource reporting on business, economics and finance, based in the United Kingdom. The CSE was nominated and shortlisted for the Award based on voting by CFI readers, subscribers…
Tilak Karunaratne says that he cannot definitely say whether he would be appointed as Chairman of the Sri Lanka Securities & Exchange Commission (SEC) as he is yet to receive a formal appointment as head of this institution. While expressing his views to www.adaderanabiz.lk, Mr. Karunaratne said though the media had publicized that he would…
Several institutions including the Sri Lanka Central Bank and the Securities & Exchange Commission of Sri Lanka which were under the purview of the Finance Ministry so far have been brought under the purview of the new government’s Prime Minister Ranil Wickremesinghe who is also in charge of the Policy Planning & Economic Affairs, Child,…
The Commission to Investigate Allegations of Bribery or Corruption has issued a directive to the Department of Immigration and Emigration (DIE) to seize the passports of former Governor of the Central Bank of Sri Lanka Ajith Nivard Cabraal and Parliamentarian Sajin Vass Gunawardena. Controller General of Immigration & Emigration M.N. Ranasinghe told Ada Derana that…
Sri Lanka has slashed fuel prices with ordinary petrol down by 33 rupees to 117 rupees a litre and diesel down by 16 rupees to 95 rupees per litre, the energy ministry said. Petrol with 95-Octane was reduced by 30 rupees to 128 and super diesel by 23 rupees to 110 a litre. The price…
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