Former Secretary of the Ministry of Defence and Urban Development, Gotabaya Rajapaksa, today rejected allegations leveled against him, regarding an account in the Thaprobane Branch of the Bank of Ceylon containing nearly Rs 8 billion under his name. In a press conference yesterday (18), newly appointed Finance Minister Ravi Karunanayake claimed that a sum of…
Arpico Insurance Limited (Code: AINS) was listed on the DiriSavi Board of the Colombo Stock Exchange (CSE) on January 16, 2015. Prof. Laxman R Watawala, Director – Richard Peiris & Company PLC rang the ceremonial opening bell to begin trading. He was joined by Mr. Viville Perera, Director (Arpico Insurance), Mr. S. Sirikananathan, Director (Arpico…
On the direction of the Hon. State Minister of Aviation Faizer Mustapha, SriLankan Airlines,has re-deployed its capacity and adjusted its scheduled operations to focus on more commercially sustainable services. While the airline has already achieved a significant improvement in its financial performance for the current financial year, it is of the view that these commercially…
Dolekanda Power (Private) Limited has been unable to obtain energy permits from the Sustainable Energy Authority (SEA) for its two 3.0 MW mini-hydropower projects named Rakwana I and Rakwana II in its IPO prospectus, due to a dispute in resource allocation. The total funds allocated from the Rs. 600 million IPO for these two hydropower…
All heads of banks and other institutions under the purview of the Finance Ministry have been requested to step down immediately, says Finance Minister Ravi Karunanayake. Minister Karunanayake said this during an exclusive interview with www.adaderanabiz.lk while adding that this is to enable his ministry to make the necessary appointments after the government change.
Colombo stock market wrapped weekly operations with negative returns on Friday despite fresh appointments to the key administration & economic positions, subsequent to the political turnaround in the country. Main share index declined by 35.99 index points or 0.48% to end at 7,513.86 while 20-scrip S&P SL index declined by 17.65 index points (-0.41%) to…
As bilateral trade topped $ 3Bn, Sri Lanka’s exports sector is readying one of the strongest ever delegations to this year’s Kunming international expo while Lanka’s second largest global supplier voiced that it is increasingly upbeat on the prospective FTA between both countries-and the $ 190 Bn Yunnan province is keen for a Corporate Agreement…
The Central Bank of Sri Lanka issued a commemorative silver coin with a face value of Rs.500 to mark the visit of His Holiness Pope Francis to Sri Lanka in recognition of the national importance of this event. The coin was presented to His Holiness Pope Francis and to His Excellency the President Maithripala Sirisena…
Colombo equities swung between gains and losses today to end the market activities on opposite directions. The benchmark index reached a high of 7,590.15 (23.45 points, +0.3%) in the morning session but closed in the minus column at 7,549.85 with a loss of 16.85 points (-0.22%). S&P SL 20 index gained slightly 4.09 points (+0.10%)…
The orderly conduct during Sri Lanka’s presidential election, and the peaceful handover of power to newly elected opposition candidate Maithripala Sirisena on 9 January, is a positive signal for political stability, says Fitch Ratings. Low governance standards are a key weakness for Sri Lanka, as reflected in its ‘BB-‘ rating; a smooth presidential transition may…
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