DFCC Bank PLC and DFCC Vardhana Bank PLC are to amalgamate. Following this amalgamation, DFCC Bank PLC will be the surviving entity effective 01 October 2015. An Extraordinary General Meeting of DFCC Vardhana Bank PLC is to be held at 2.00 pm on 28 August 2015 at the DFCC Bank head office at No. 73/5,…
Colombo stocks closed notably higher on Friday, posting strong weekly gains amid central banks decision to keep the policy rates steady. ASI closed 56.43 points or 0.78% higher at 7,269.05 while S&P SL 20 index closed up 30.44 points or 0.75%, at 4,071.65. The strong demand for blue chips lifted the ASI to a near-9…
The Ministry of Finance is to establish a modern container scanning system to improve the efficiency and productivity of the Sri Lanka Customs. Allocations for this project would be through the 2015. Sri Lanka Customs now processes an average of about 1,100 import containers daily. Currently, only about 10 to 15 per cent of randomly…
The long-term prospect of our agricultural sector is severely constrained by extreme inefficiencies in both markets and public policies. This casts a very heavy burden on all Sri Lankans, particularly the poor and vulnerable. Many of the latter include members of our rural population who are trapped in an unsatisfactory status quo of low-productivity, low-income…
The government is to offer an extent of 100 perches from the land in close proximity to the Katunayake International Airport at Katana in the Gampaha District identified as Kahadiyawala Watta, to the Department of Immigration and Emigration to establish a transit centre to hold foreigners overstaying their visas in Sri Lanka. This land had…
World Cup winning Sri Lanka cricket captain better known as ‘Captain Cool’ and incumbent Minister of Ports and Shipping Arjuna Ranatunga has proposed a Naval Dockyard to be established within the Hambantota Port. Steps are being taken to prepare streamlined plans and also undertake necessary feasibility studies for the construction of such a dockyard.
The first phase of the Central Expressway, from Colombo to Kandy has begun with the construction of the five kilometre stretch from Kadawatha to Meerigama. Its preliminary construction work has already commenced, says the government. Approval has been granted to award the contracts for the construction of the 32.5 kilometre stretch from Kossinna according to…
Colombo stocks rose Thursday, pushing the ASI back above 7,200 for the first time in eight weeks, ahead of the monthly monetary policy review. Benchmark index climbed 12.99 index points or 0.18% to close at 7,212.62, while 20-scrip S&P SL index edged up marginally by 3.38 index points (-0.08%) to close at 4,041.21. Index gain…
Twenty five aspiring Sri Lankanentrepreneurs, chosen from 100 candidates with ideas for potentially game-changing technology startups, have embarked on the 2015 MIT Global Startup Lab (GSL)programme in Sri Lanka conducted by the Massachusetts Institute of Technology (MIT) in partnership with leading apparel manufacturer Brandix and WSO2, a leader in enterprise middleware. Four MIT instructors are…
Sri Lanka’s tea exports have faced massive setbacks due to the crisis situations in Russia and the Middle East. After declining for eight consecutive months, during May 2015 Sri Lanka’s tea exports have fallen by 12.1 per cent as compared to May 2014 reveals the latest data released by the Central Bank of Sri Lanka….
Video Story
