The Central Bank of Sri Lanka (CBSL) believes that by end 2016 Sri Lanka’s Gross Domestic Product (GDP) would surpass the USD 100 billion mark. CBSL Governor Ajith Nivard Cabraal revealed this when addressing the Defence Seminar 2014 being held in Colombo, while adding that Sri Lanka’s GDP would near the USD 77 billion mark…
The Obama administration said Monday it is taking a first step toward requiring that future cars and light trucks be equipped with technology that enables them to warn each other of potential danger in time to avoid collisions. A research report released by the National Highway Traffic Safety Administration estimates that the technology could eventually…
BREAKING NEWS:: The Colombo Stock Exchange has suspended trading of Orient Garment PLC (OGL.N0000) shares pending explanation of a news report published today (19 August). As revealed, this news report has been carried by a business section of an English daily.
The overall hydro power generation capacity of the Ceylon Electricity Board (CEB) has increased up to 52% due to the rainy conditions over the island. CEB chairman W.B. Ganegala told adaderanabiz.lk that the CEB’s power generation through diesel has decreased since 25% of the CEB’s total power generation is currently being generated through coal. “Yesterday,…
Japan’s Toyota, Honda and Nissan became the latest foreign carmakers to respond to China’s anti-monopoly investigation into the auto industry, as the probe’s impact extends beyond foreign luxury auto brands. GAC Toyota Motor Co, Toyota’s joint venture with China’s GAC Group, and Guangqi Honda Automobile Co, Honda’s venture with GAC, both said late on Friday…
Bartleet Transcapital Limited has reached agreement with Janashakthi Limited to sell 86.79% of its issued and fully paid share capital of Bartleet Finance PLC. The Monetary Board of the Central Bank of Sri Lanka has approved in principle the acquisition of Bartleet Finance PLC by Janashakthi Limited on behalf of Orient Finance PLC and the…
Asian Alliance Insurance PLC (AAI) that is part of the Softlogic Group is pleased to announce profit after tax for the first half of 2014 at Rs 339Million. The impressive result comes about on the back of Life premiums growth of 21% for the period at Rs 1.4Billion, with the absolute increase of Rs 252Million…
Commercial Credit and Finance PLC recorded a profit after tax of Rs. 490 million for the quarter ended 30th June, up from Rs. 172 million posted during the same period in 2013, a growth of 184%. Net interest income rose 86% in the quarter from Rs. 886 million in 2013 to Rs. 1,652 million this…
In the event of any shortages of KIA spare parts in Sri Lanka following the damages caused by a fire at the KIA spare part stores immediate steps would be taken to overcome them, said KIA Motors Lanka Limited chief executive officer Mahen Thambiah. A fire broke out last Monday (11 August) at the KIA…
Nation Lanka Finance PLC says that according to an agreement reached the Luxembourg registered company, GEM Global Yield Fund LLC SCS, with its registered office at 412F, Route d’Esch, L-2086 Luxembourg has remitted to the company via SIA, the first tranche of investment based on the formula agreed upon, amounting to Rs. 8,300,440 representing 1,211,743…
Video Story
