The Monetary Board has approved the implementation of a Credit Guarantee Scheme on behalf of the Government for pawning advances granted by licensed banks, in order to support lending against gold articles. The Monetary Board has also approved an allocation of Rs. 500 million from the Central Bank as the seed fund to support the Credit…
Colombo equities witnessed lackluster trading session on Tuesday where both indices gained marginally. ASI index gained 2.37 index points or 0.04% to close at 6,321.61 while S&P SL20 index gained 7.31 index points or 0.21% to close at 3,480.10. Progression in counters such as Lion Brewery (closed at LKR 449.90, +3.1%), Hatton National Bank (closed…
President Mahinda Rajapaksa arrived in China this morning. The President was welcomed at the Pudong International Airport in Shanghai by Deputy Secretary-General of Shanghai Municipal Government Mr. Huang Rong, Executive Vice President of Shanghai People’s Association for Friendship with Foreign Countries (SPAFFC) Mr. Wang Xiaoshu and Sri Lanka’s Ambassador in China Mr. Ranjith Uyangoda. Photos-…
Tony Weeresinghe, the London Stock Exchange Group Plc (LSE) executive who helped rebuild the market’s core trading technology, plans to resign at the end of June. He joined the exchange in 2009 after selling his company, Sri Lanka-based MillenniumIT, to LSE for $30 million. MillenniumIT forms the basis of LSE’s trading system. Now based in…
The Monetary Board of the Sri Lanka Central Bank (SLCB) has decided not to change the policy interest rates that decide the interest rates of commercial banks since the borrowings of the private sector have recorded a positive growth during March this year. Hence, the SLCB policy interest rates would remain unchanged from between 6.5 to 8.0 percent….
Chairman of a giant among Sri Lanka’s apparels sector MAS Holdings Group, Mahesh Amalean has been appointed an independent, non-executive director of Dialog Axiata. This appointment follows after Jayantha Dhanapala left Dialog Axiata as a independent, non-executive director recently.
TOKYO – Japan’s automakers, aiming to take the lead in fuel-efficient power-trains have joined forces in a new consortium to develop the next generation of fuel-sipping combustion engines. Their goal: A 30 percent improvement in the fuel efficiency of traditional gasoline and diesel engines by 2020. The Japanese government is to aid the country’s eight…
Colombo shares started a fresh week on Monday with mixed results as All share price index gained 4.05 points (+0.06%) to close at 6,319.24 while S&P SL 20 index lost 6.38 points (-0.18%) to close at 3,472.79. Price advancement in counters such as Ceylinco Insurance (closed at LKR 13.50, +5.4%), Dialog Axiata (closed at LKR…
Though Indian Prime Minister designate Narendra Singh Modi’s economic policies have not yet been fully revealed, his statement that he is prepared to maintain stronger ties with Sri Lanka is very significant to the island economically, says Sri Lanka Central Bank Deputy Governor Nandalal Weerasinghe. While speaking to AdaderanaBiz he said that India’s middle class…
Associated Motorways (Pvt) Ltd, today announced its intention of introducing the luxury, new Nissan Patrol Y62 to the Sri Lankan market. The vehicle dubbed the “ultimate luxury SUV” first appeared at the 2010 Abu Dhabi Motor Show, and has since then been the undisputed choice in off-road regions like the Middle East and the outback…
Video Story
