Crown casinos boss James Packer has said Australian visa requirements for Chinese tourists “stupid”, arguing more wealthy Chinese visitors to Australia could benefit the tourism sector. Packer said: “The visa processing system for Chinese tourists has improved recently, but there is more work to do in this area and each day we waste costs Australia…
Deepthi Lokuarachchi has been appointed the new Chief Executive Officer of Sri Lanka Insurance Corporation. With longstanding experience as an insurance professional Lokuarachchi obtained his degree in law from the Law Faculty of the University of Colombo. He is a past pupil of Trinity College, Kandy.
Colombo stock market snapped the five day winning streak on Wednesday as both indices witnessed negative returns. All share index declined by 19.06 index points or 0.31% to close at 6,172.77 while 20-scrip S&P SL index declined by 23.87 index points or 0.70% to close at 3,373.55. Price depreciations in Bukit Darah (closed at LKR…
The Rupees One Million debenture issue of Hemas Holdings Private Limited at Rupees 100 each has been oversubscribed. Hence, the issue is to be closed by 4.30 pm today. This issue has reportedly received applications for over Rupees One Billion. The company has stated that the mode of issuing these debentures to the subscribers would…
The amounts obtained by Sri Lankans when they pawn their gold with banks and financial institutions have reduced due to the fall in gold prices in the world market. Hence, the Finance Ministry is reportedly preparing to introduce new regulations to enable those pawning their gold to obtain the maximum value. A high official from…
Equity Market managed to sustain the favorable momentum on Tuesday as both indices closed with positive returns. All share price index advanced marginally by 4.80 points (+0.08%) to end at 6,191.83 where S&P SL 20 index advanced marginally by 2.48 points (+0.07%) to end at 3,397.42. Positive index performances were mainly led by price appreciations…
The Colombo Stock Exchange (CSE) has approved Adam Investments Limited to list 133.3 million ordinary voting shares at Rs. 3.00 per share. While this is to be listed on the Diri Saviya board the Initial Public Offering is to begin on 19 May. Managers and financial advisors to the issue are Capital Trust Financial (Pvt)…
It has been revealed that Sri Lanka Cricket (SLC) which incurred heavy losses last year is set to gain this year following the Twenty20 World Cup win. SLC Treasurer Nuski Mohamed told AdaderanaBiz, “Sri Lanka Cricket gained profits during 2012. However, last year it lost. But we believe that we would be able to make…
The Central Bank’s Monetary Board has decided to keep the policy rates which decide the interest rates of commercial banks unchanged between 6.50 to 8.00 percent in April. The Central Bank has stated that the decrease in borrowings by the government sector from the banking system has provided the opportunity for the private sector to…
Colombo shares started the fresh week on Monday in positive note as All share price index gained 6.27 points (+0.10%) to close at 6,187.03 while 20-script S&P SL index marginally gained 6.92 points (+0.20%) to close at 3,394.94. Price appreciations in counters such as Carson Cumberbatch (closed at LKR 390.00, +5.4%), Ceylon Tobacco (closed at…
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