Colombo stock market failed to maintain positive momentum gained in last trading session where market witnessed lackluster trading day. Benchmark index declined by 6.39 index points or 0.10% to end at 6,286.02 while 20-scrip S&P SL index gained marginally by 0.56 index points or 0.02% to close at 3,470.75. Price depreciations in Nestle Lanka (closed…
Samsung Electronics has launched the world’s first smartphone powered by the Tizen operating system. The Samsung Z will go on sale in Russia in the July-to-September quarter. Most Samsung phones currently use the Android platform, but the South Korean firm has been working with chipmaker Intel to develop Tizen as an alternative operating system. It…
Seylan Bank General Manager and Chief Executive Officer Kapila Prasanna Ariyaratne has been appointed Chairman of Seylan Developments PLC with effect from 31 May 2014. A Director of Seylan Developments PLC since 2012, Kapila Ariyaratne commenced his banking career in 1984 and counts over 30 years experience in the sector. Having held responsible posts in…
The government has decided to lower its duty waiver provided per kilogram to powdered milk food importers into Sri Lanka with immediate effect. This duty waiver had been provided by the government due to the frequent increases of powdered milk food in the world market. Though Rs. 125.00 should be charged as duty on every…
The Investments Promotion Minister says that he has instructed his officials to find out whether there are any blacklisted individuals among the foreign investors coming into Sri Lanka. Now, in matters relating to providing investment opportunities these issues are also being looked into, said Investments Promotion Minister Lakshman Yapa Abeywardene. While attention is being focused…
Colombo equities started its’ weekly operations with optimistic trend and witnessed positive returns in both indices. Benchmark index managed to gain 28.95 index points (+0.46%) to end at 6,292.41 while 20-scrip S&P index gained 15.58 index points (+0.45%) to close at 3,470.19. Price appreciations in counters such as Carson Cumberbatch (closed at LKR 400.00, +5.5%),…
Concerns over the human rights situation in Sri Lanka is not a hindrance for attracting foreign investors, according to Ajith Nivard Cabraal, the governor of the Central Bank of Sri Lanka. “There are a few who have asked the question – but not all. And every time they have asked the question we have explained…
Since Sri Lanka has entered into only a few free trade agreements so far it expects to enter into more free trade agreements in the near future, says the Investments Promotion Ministry. The ministry says that similar to Vietnam increasing its direct foreign investments and exports by entering into free trade agreements, Sri Lanka too…
Imagine driving down the highway at 70 miles per hour, when suddenly the wheel turns hard right. You crash. And it was because someone hacked your car. It’s not far-fetched science fiction. It’s the near-term future today’s hackers are warning about. Most people aren’t aware their cars are already high-tech computers. And now we’re networking…
According to the strategic plans of the Sri Lanka Ports Authority (SLPA) it expects to increase the harbor related investments to USD 10 billion and is to create a group of skilled professionals to meet the increasing demand. Furthermore, according to these plans it expects to handle 200 million tons of direct maritime cargo and…
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