The better way to minimize the printing of forged currency notes is to raise awareness among the public on ways to identify such currency notes, an official of the Sri Lanka Central Bank’s Currency Department told AdaderanaBiz. She made this comment in response to the questions regarding the incident where the Rs. 5,000 currency notes…
The District Court of Colombo restrained Anura Lokuhetty from acting as the CEO of Serene Pavilions Hotel in Wadduwa. The Commercial High Court on March 19 refused an enjoining order sought by Anura Lokuhetty, restraining his termination as the CEO of the Serene Pavilions Hotel. The Commercial High Court of Colombo in December issued an…
As reported by AdaderanaBiz yesterday, members of the Sri Lanka Motor Vehicle Importers’ Association met Finance Ministry officials for discussions last evening in a bid to popularize fully electrically operated vehicles in Sri Lanka. During these discussions, the vehicle importers had requested government assistance to encourage prospective buyers to go in for these vehicles. Towards…
Amana Bank CEO and Managing Director Faizal Salieh will retire from his post effective June 1, 2014. A suitable candidate will be appointed, Amana Bank stated.
Share Market managed to end positively on Tuesday as both indices closed higher. Bench mark all share price index advanced by 30.55 points (+0.52%) to close at 5,952.78 and 20-scrip S&P SL index advanced by 9.58 points (+0.30%) to close at 3,256.49. Progression in counters such as Ceylon Tobacco (closed at LKR 1,080.00, +4.7%), Carson…
The boards of directors of the DFCC Bank (DFCC) and the National Development Bank PLC (NDB) have signed a memorandum of understanding towards exploring the possibilities of amalgamating under the consolidation of certain banking businesses. The boards of both DFCC and NDB add that there is no definite decision on aspects of such consolidation at…
The demand in the world market for high and low grown Sri Lankan tea has currently decreased and it may reportedly cause tea prices to fall. Though tea prices are thus decreasing, Sri Lanka’s tea still fetches better prices, said Asia Siyaka tea brokers chairman Anil Cooke while speaking to AdaderanaBiz. “Recently, Iran bought a sizeable amount of…
The Sri Lanka Vehicle Importers Association [SLVIA] is to meet high officials of the Finance Ministry to discuss its plans to import electric vehicles to Sri Lanka. The SLVIA proposes to import these electric vehicles and request the government to assist it in installing equipment for re-charging facilities at 50 selected Ceypetco fuel stations inland-wide. The Association is to…
Colombo bourse witnessed a lackluster trading session during the day and closed with mixed returns. ASI lost 15.64 index points (-0.26%) to closed at 5,922.23 while S&P SL20 Index gained 0.89 points (+0.03%) to end at 3,246.91. Price depreciations in counters such as Ceylon Tobacco (closed at LKR 1,021.00, -6.5%), Asiri Surgical (closed at LKR…
Gold prices eased further in Asia on Monday after the China HSBC Flash Purchasing Managers Index for March unexpectedly fell, casting doubt on demand from China, which regularly changes places with India as the world’s top importer of the yellow metal. On the Comex division of the New York Mercantile Exchange, gold futures for…
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