Cairn India, the company engaged in Sri Lanka’s maiden off-shore natural gas discovery in the Mannar Basin has urged the government for a holistic view over the discovery to maximise its benefits. In its fourth quarterly report Cairn India has stated that the company is continuing discussions with the Sri Lankan government regarding the commercial…
The Bodhu Bala Sena organization has obtained a name under the Clause 34 of the Companies Act No. 07 of 2007 to register as a company limited by liability, says the Registrar General of Companies. The name for which the approval has been granted is the ‘Bodhu Bala Sena Jalaya’ or the Bodhu Bala Sena…
Colombo bourse closed higher on Tuesday as benchmark All-share index gained 14.31 index points or 0.23% to close at 6,186.25 and S&P SL 20 index gained 10.98 index points or 0.32% to close at 3,405.32. Progression in counters such as John Keells Holdings (closed at 238.00, +1.3%), Commercial Leasing & Finance (closed at LKR 4.00,…
While taking the prevailing economic growth into consideration, the global debt rating agency Fitch has confirmed Sri Lanka as BB- rating with a stable outlook. However, Fitch Rating has stated that when compared to other similar countries Sri Lanka’s government debts and foreign debts are very high. This rating is due to inflation being at…
Apple has begun a replacement programme for some of its iPhone 5 handsets that have a faulty sleep/wake button. Separately, Samsung has revealed that some of its flagship Galaxy S5 handsets have been shipped with a non-functioning camera. It said anyone who bought an S5 with a faulty camera should contact Samsung’s customer service or…
Colombo stock market started weekly operations on a positive note where both indices witnessed marginal returns. ASI gained 4.13 index points or 0.07% to close at 6,171.94 while 20-scrip S&P SL index gained 6.37 index points to close at 3,394.34. Price appreciations in Vallibel One (closed at 18.30, +2.8%), Asian Hotels and Properties (closed at…
James Packer’s plan to enter the Sri Lankan resort market appears to have hit a stumbling block with reports that the Sri Lankan government has refused to allow casinos at three super-luxury resorts planned in the capital because opponents said they would lead to prostitution. It was not immediately known whether the casino ban would…
The Central Bank of Sri Lanka (CBSL) has requested banks and financial institutions in the island to introduce financial instruments for private sector employees to receive a higher rate of interest after they deposit their moneys obtained on retirement from the Employees’ Provident Fund (EPF) and the Employees’ Trust Fund (ETF), said CBSL Deputy Governor…
Vajira Kulatilleke has been appointed the new Chairman of the Colombo Stock Exchange (CSE) and is to assume duties on 05 June. Mr. Kulatilleke has wide experience in the banking sector in Sri Lanka.
The controlling stake of the picturesque 126 roomed Centara Passikudah Resort & Spa in the eastern shores of the island has changed hands to a company headed by prominent Sri Lankan business personality DhammikaPerera, AdaderanaBiz learns through reliable sources. Centara Passikudah Resort & Spa Sri Lanka, one among the world renowned Centara chain of resorts…
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