The lubricant market in Sri Lanka is currently controlled by a few companies and hence he proposes to open up this market said Finance Minister Ravi Karunanayake in his recent Budget speech in Parliament. When adaderanabiz.lk inquired about this proposal from Chevron Lubricant Lanka PLC Managing Director Kishu Gomes, his response was that there is…
Colombo bourse welcomed the budget proposals optimistically on Monday along with higher investor activity. Investor sentiment moved to positive territory on favorable budget proposals on capital market and its listed entities. Benchmark index gained 55 index points within minutes of opening the session but failed to continue the momentum and closed the session at 7,055.84…
It is admirable to note the support extended to the capital market of Sri Lanka through the recent budget. Firstly, it has maintained all the concessions granted to capital market by the previous Governments. Secondly, it is a forward looking budget. It encourages introduction of REITs , an extremely positive step to introduce an alternative…
Geocycle, a subsidiary of Holcim (Lanka) Ltd, a member of LafargeHolcim recently signed a vital memorandum of understanding with the Department of Local Government for the North Western Province (NWP) to dispose of all non-biodegradable waste in the area. The MoU which was entered into by Chief Minister North Western Province Hon. Dharmasiri Dassanayake, Commissioner,…
Colombo stock market swung between gains and losses on Friday to wrap the weekly operations on lower note as the government unveiled the much anticipated maiden budget for the fiscal year 2016. Benchmark index lost 2.74 index points or 0.04% to end at 7,017.44 while 20-scrip S&P SL index shed 7.14 index points (-0.19%) to…
A fund is to be set up for small and medium scale entrepreneurs without assets as guarantees for business loans to be provided with equity financing facilities, said Finance Minister Ravi Karunanayake while presenting the 2016 Budgetary proposals in Parliament a short while ago. He added that he proposes a trust together with banks, insurance…
A bi-lateral aviation agreement has been signed between Sri Lanka and Bulgaria. This bi-lateral agreement signed at higher authority levels would be implemented once an authorized agent signs it as well. The government has taken this step to strengthen Sri Lanka’s aviation services by entering into agreements with other countries to meet the rising tourism…
With a motive of establishing mutual cooperation to encourage and promote collaborations internationally, SLASSCOM recently signed a MOU with Japan Information Technology Services Industry Association (JISA), a trade organization of Japanese IT services Industry. The MOU was signed at an event held on the 19th of November at World Trade Centre (WTC) in the presence…
Colombo bourse continued the winning streak for the third consecutive day on Thursday ahead of the new government’s maiden general budget. All share index advanced by 0.55% (38.21 index points) to close at 7,020.18, despite the thin market activity. S&P SL20 index gained 16.59 index points or 0.44% to end at 3,781.25. Today’s gains were…
Integrated infrastructure and engineering solutions provider MTD Walkers PLC announces that it has secured the leasehold rights of Mutwal Harbour and is proud to launch Walkers Colombo Shipyard (Pvt) Ltd. “This goes in line with the diversification strategy we started two years ago and helps us augment the key services we have to offer. Our…
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