The consolidation process had made progress as planned, and during June 2014, almost all banks and finance and leasing companies (NBFIs) had finalized their consolidation plans and submitted their proposed merger/acquisition plans to the Central Bank. These plans will now be reviewed by the Central Bank with a view to facilitating the respective companies to…
Colombo shares retained the momentum gained in last week and began the weekly operations with positive returns. Benchmark All Share Price index inclined by 15.13 points (+0.24%) to end at 6,378.62 while S&P SL 20 index inclined by 13.58 points (+0.39%) to end at 3,534.43. Price progression in counter such as Ceylon Tobacco (closed at…
SLT Hong Kong Limited, a fully owned subsidiary company of Sri Lanka Telecom PLC has been liquidated. The liquidation has been from 18th May 2014.
While compared to June this year against June of last year, Sri Lanka’s inflation is 2.8 percent according to the Colombo Consumers’ Price Index, says the Department of Census and Statistics. According to the Colombo Consumers’ Price Index the inflation rate was 3.2 percent in May 2014. Treasury Secretary Dr. P.B. Jayasundera said last Friday…
An issue has arisen about the quality of 20,000 metric tons of furnace oil imported from Abu Dhabi for the use of privately owned power generating plants. When AdaderanaBiz.lk inquired from Ceylon Petroleum Corporation (CPC) chairman Sirisena Amarasekera, he said the discussions were being held with the private power generation plant owners regarding the quality…
There’s been plenty of commentary on the risks of bring-your-own tech devices to enterprise, but not much consideration of how employees can lose out when they use their own smartphone, tablet or notebook in their employer’s cause. We took a phone call this week that highlighted the need for protection on both sides of the…
The amalgamation of Sri Lanka Merchant Bank (MBSL), MBSL Savings Bank (MSB) and MCSL Financial Services has received the approval of the respective boards of directors. While announcing this, MBSL chairman M.R. Shah said only the Sri Lanka Merchant Bank (MBSL) would remain as an institution after the amalgamation. This amalgamation would be effective from…
Colombo Shares closed with higher returns on Thursday, as All share price index gained 6.61 points (+0.10%) to close at 6,328.16 while 20-script S&P SL index gained 5.99 points (+0.17%) to close at 3,507.54. Price appreciation in Commercial Bank (closed at LKR 137.50, +1.9%), Property Development (closed at LKR 123.90, +21%) and Nestle Lanka (closed…
Damage caused to the rubber tubing on the buoy that supports the pipeline transporting fuel from tankers about nine kilometers away from shore has made it impossible to supply any fuel to the Sapugaskanda refinery. The rumor that this would cause a fuel shortage in the country is false and there would be no such…
The government is preparing to join the national grid to the third phase of the Norochcholai coal power project next month. While commenting on this, Ceylon Electricity Board (CEB) chairman W.B. Ganegala told AdaderanaBiz.lk that the third phase of the Norochcholai coal power plant would add another 300 megawatt of electricity to the national grid….
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