The former Chairman of the national line Ceylon Shipping Corporation Ltd. (CSCL), Kanchana Ratwatte, and three other state officials have been arrested for criminal breach of trust with regard to coal shipments worth Rs 528 million. Kanchana Ratwatta, M.C. Delgoda (Power and Energy Ministry), R.M.K. Ranatunga (Treasury) and R.S. Jayawickrama (Ports Authority) were arrested by…
Stocks fell for the third straight day amid concerns over rising interest rates. ASI closed three week low of 7,202.20 with a drop of 32.72 points (-0.45%) while S&P SL 20 index lost 15.45 (-0.38%) points to close at 4,092.84. Moreover Dialog Axiata (closed at LKR 11.50, -0.9%) and Sri Lanka Telecom (closed at LKR…
Regus Sri Lanka, the local arm of the world’s largest provider of flexible workspace, has revealed details of a recent global study conducted by Regus on “The realities of remote working”. The in-depth study has helped identify a global shift towards remote working and how it is increasing productivity in companies worldwide. During the study,…
Sri Lanka Telecom (SLT) has appointed Dileepa Wijesundara as the Group Chief Executive with effect from 13th March 2015. Lalith de Silva has resigned with effect from March 13 but will not have duties from March 09, the firm said in a stock exchange filing. Dileepa Wijesundara holds a Bachelor of Science in Civil Engineering…
Powered by Android Wear™, the Huawei Watch Features a Fully Circular Timeless Design Huawei continues to break new ground in the wearables space by unveiling today the Huawei Watch, powered by Android Wear™ at Mobile World Congress (MWC) 2015. The fully circular watch features a 1.4-inch touch-sensitive AMOLED display, scratch-proof sapphire crystal lens, cold-forged stainless…
The Sri Lanka Central Bank rationalised the access to the Standing Deposit Facility (SDF) of the Central Bank In September 2014 to encourage commercial banks to utilise the high amount of excess liquidity prevailing in the market to enhance credit flows to the private sector at reasonable interest rates. Following this rationalisation of the SDF,…
The Colombo Stock Exchange (CSE) today announced the launch of Facebook and LinkedInPages to ensure greater engagement with stakeholders through social media channels, in its endeavour to broad-base investment amongst the masses. The Facebook Page intends on reaching retail investors and students who are eager to receive information on upcoming awareness programmes and informational snippets…
Colombo stock market swung between gains and losses on Tuesday amid the sharp increase in Treasury yields for the fourth consecutive week. During the opening hours, All share index inclined to 7,269.86 (+0.3%) but lost the momentum in the latter part. Bourse closed on opposite directions where core index shed 9.48 index points or 0.13%…
One-off and recurring taxes on the Sri Lankan telecoms sector as set out in the interim budget proposals on 7 February, raise regulatory risks and would lead to lower profitability and higher financial leverage for Sri Lankan telcos, says Fitch Ratings. The agency has revised its outlook on the sector to negative from stable. If…
Colombo equities started the weekly operations with negative returns on Monday amid sluggish activity seen among the investors. The market was up in the morning session but slide to close in negative column where the benchmark ASI declined to a nearly three week low of 7,244.40 with a drop of 56.89 points (-0.78%) to end…
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