The Central Bank of Sri Lanka has appointed Mr. C.J.P. Siriwardana, Assistant Governor, as the Secretary to the Monetary Board with effect from 14th July 2014. Mr. Siriwardana joined the Central Bank as a Staff Officer in 1986 after graduating from the University of Ruhuna with a B.Sc. Degree (Hons) in Agriculture. In 1994, he…
Colombo equities closed in positive territory on Tuesday as All Share price index gained 39.85 points (+0.59%) to end at 6,796.37 and S&P SL 20 index gained 25.78 points (+0.68%) to end at 3,793.93. The market fluctuated between gains and losses during the day where in the morning session the index dropped to 6,724.11 but…
Managing Director of Lanka Bell Ltd Prasad Samarasinghe was conferred with a Doctorate in Telecommunications by the Australian National University, Canberra, Australia. Dr. Samarasinghe holds a B.Sc. (Eng) Degree in Electronics and Telecommunications with First Class Honors and a M.Sc. in Engineering, both from the University of Moratuwa, Sri Lanka. A member of the IEEE…
The DSI Group embarks on a new project of manufacturing PVC pipes for its first time after buying the PVC products factory and assets of Okta PVC Lanka (Pvt) Ltd at Baddegama in Galle. While commenting on this to adaderanabiz.lk, DSI Group Managing Director Kulathunga Rajapaksha said that the DSI Group had bought all assets…
China’s Xiaomi unveiled on Tuesday its new flagship Mi 4 smartphone, aimed squarely at the premium handset market dominated by Apple Inc and Samsung Electronics Co Ltd. The Mi 4 has a 5 inch, 1080p screen and a Qualcomm Inc Snapdragon 801 2.5 Ghz processor, said Chief Executive Lei Jun at a launch event in…
The special commodity tax on imported sugar has been increased by Rs. 3 per kilogram with effect from July 16, the Finance Ministry stated. Accordingly the tax per kilogram of sugar has been increased from Rs. 25 to Rs. 28. The increase was made to protect local producers against the drop in international sugar prices,…
President Mahinda Rajapaksa has decided to remove the taxes announced in Special Gazette 1857/8 for state and private sector financial institution staff, the Presidential Media Division said. Accordingly the taxes on housing loan interest, disaster loan interest, vehicle loan interest, medical expenses reimbursement, overtime allowance and other allowances of employees at state and private institutions…
Colombo Stock market started its weekly operations on optimistic note where main bourse hit 34 month high of 6,766.19. Core index gained 34.32 index points (+0.51%) to end at 6,756.52 while 20-scrip S&P SL20 index gained 29.17 index points (0.78%) to close at 3,768.15. Price appreciations in equities such as Commercial Bank (closed at LKR…
Mr. Aravinda Perera was appointed to the Board of Directors of the Colombo Stock Exchange (CSE) with effect from 9th July, 2014, in place of Mr. Krishan Balendra, who completed his term as Chairman of the Board and resigned from the Board with effect from 5thJune, 2014. Mr. Perera is currently the Managing Director of…
Deshodaya Development Finance Limited, George Steuart & Company Limited and Capital Trust Holding Limited have signed a memorandum of understanding to acquire the majority shares of George Steuart Finance PLC. In keeping with the Financial Sector Consolidation master plan of the Central Bank of Sri Lanka, Deshodaya Development Finance Limited has entered into a Memorandum…
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