IMF Managing Director Christine Lagarde and Mr. Ravi Karunanayake, Finance Minister of Sri Lanka, issued the following joint statement after their meeting in Washington: “We had a fruitful discussion about recent economic developments in Sri Lanka and the near-term outlook. These discussions will continue in the context of the next regularly scheduled Post-Program Monitoring mission…
The Chartered Institute of Marketing (CIM) recently concluded its first CEO Forum for the year 2015 titled “ Sri Lanka – Vision 15/20, Opportunities & Challenges” at the JAIC Hilton Colombo Residences, with more than 100 Marketers and CEO’s attending. The speaker at this forum was Dr. Harsha de Silva, Hon. Deputy Minister of Policy…
IFC, a member of the World Bank Group, is investing LKR 2,550 million for an 8% equity stake in Sri Lanka’s Cargills Foods Company Pvt Limited (CFC), the retail subsidiary of Cargills (Ceylon) PLC to help the company expand its operations in the country, enhance its backward integration system and develop the efficiency of its…
Colombo shares concluded the day on a weak note following a batch of mixed corporate earnings and rising T-bill yields. Main index lost 33.91 points or 0.46% to end at 7,266.84 while S&P SL 20 index marginally gained 3.49 points (+0.09%) to end at 4,074.62. Subsequent to today’s losses the year to date return of…
T.M.R. Bangsajayah, a retired Sri Lanka Police officer has been appointed Managing Director of Sri Lanka Insurance. He has been appointed with effect from 13 February 2015. Sri Lanka Insurance comes under the purview of Finance Minister Ravi Karunanayake. Sri Lanka Insurance Corporation Ltd. Managing Director T.M.R. Bangsa Jayah is a retired commissioned Police Officer…
The Colombo Stock Exchange has approved in principle the application for the listing of ordinary voting shares of Singhe Hospitals Limited on the Diri Savi Board. Singhe Hospitals Limited is to issue 100 million ordinary voting shares at Rs. 2.50 each with the opening date being 12 March 2015. Merchant Bank of Sri Lanka and…
Seylan Bank PLC has appointed Kapila Prasanna Ariyaratne as an Executive Director with effect from 16 February 2015. Kapila Ariyaratne has been the General Manager/Chief Executive Officer of Seylan Bank since March 2011. He has over 30 years of banking experience after having worked for several local as well as international banks. He is a…
The taxes imposed on telecommunication services providers through the new government’s interim budget are unreasonable and that this would weaken the future investments of these companies, points out Learn Asia chairman Professor Rohan Samarajeewa. This is the interview the BIZ 24X7 programme of Ada Derana 24X7 had with Professor Rohan Samarajeewa:
SriLankan Airlines customers will soon enjoy greater access to cities throughout South East Asia and Australia as part of a new codeshare agreement with Jetstar Asia. From 5 April 2015, SriLankan customers will be able to travel on codeshare services operated by Jetstar Asia on seven routes from Jetstar Asia’s hub in Singapore. The cities…
The surprising decision by the new government of Sri Lanka to reverse course and support a billion-dollar Chinese port project underscores the long shadow of Beijing’s influence in the region, even in countries seemingly determined to push back. More importantly, the green light for the port project highlights China’s determination to secure access to a…
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