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SEC restrains Lanka Rating Agency from providing new ratings

The Securities & Exchange Commission of Sri Lanka has taken steps to restrain Lanka Rating Agency Limited from providing new ratings with effect from 25 March 2015.

(0)Comments | June 5, 2015 10:08 am

Global Payments enables MasterCard Credit and Debit Card acceptance for CEB

Global Payments Inc. (NYSE: GPN), a leading worldwide provider of payment technology services, announced today that its Sri Lankan subsidiary, Global Payments Asia Pacific Lanka Pvt Ltd. (Global Sri Lanka), has entered into an agreement with Ceylon Electricity Board (CEB), Sri Lanka’s largest electricity provider, and MasterCard to enable consumers to pay electricity bills using…

(0)Comments | June 4, 2015 11:54 pm

Colombo stocks witness a sluggish trading

Colombo bourse witnessed a sluggish trading session on Thursday, continuing the negative momentum for the fourth consecutive day to close in red zone. The main index weakened further falling to a 6-week low of 7,120.91 with a drop of 28.55 index points or -0.40% while 20-script S&P SL20 index dropped by 15.48 points (-0.39%) to…

(0)Comments | June 4, 2015 6:55 pm

Casino Ban Fails to Deter Developer’s Postwar Sri Lanka Plan

A ban on casinos by Sri Lanka’s new government isn’t stopping the nation’s biggest conglomerate from pressing ahead with a $850 million development project as the island rebuilds from a 30-year civil war. Lenders are fully committed to John Keells Holdings Plc.’s Waterfront Properties mixed development project in Colombo though the absence of a casino…

(0)Comments | June 4, 2015 2:04 pm

Colombo Fastest Growing City in the MasterCard Global Destination Cities Index

* Five Asian cities – Bangkok, Singapore, Kuala Lumpur, Seoul and Hong Kong – make it into the Global Destination Cities Index top ten.  Colombo leads the pack as the fastest growing city in terms of international, overnight visitor numbers in the annual MasterCard Global Destinations Cities Index. The rapid rise in tourism after the…

(0)Comments | June 4, 2015 12:29 pm

Altair designer Moshe Safdie receives America’s highest architectural honour

Moshe Safdie, the architect of Sri Lanka’s Altair high-rise luxury residential development, has been honoured with the 2015 Gold Medal of the American Institute of Architects (AIA), the Institute’s highest honour, for his contribution to global architecture. Announcing the award, presented at the 2015 AIA Convention in Atlanta in May, Altair promoter Indocean Developers said…

(0)Comments | June 4, 2015 11:15 am

(Lee Kwan Yew Example 02) The difference between Singapore and Sri Lanka Public services – Video Interview

We carry a series of exclusive interviews with Sam Samarasinghe, a Consultant Engineer who was also a consultant to the Lee Kwan Yew government of Singapore. This is the second interview in the series and is mainly on matters that enabled Singapore, a onetime fishing hamlet to become a developed island city nation. This segment…

(0)Comments | June 4, 2015 10:05 am

Chemcel (Pvt) Ltd to cease operations, Chemanex PLC to realize investment value

Archer Daniels Midland Europe BV the main shareholder in Chemcel (Pvt) Ltd says that Chemcel (Pvt) Ltd is to cease its operations based on a number of considerations. Archer Daniels Midland Europe currently holds 23.15 per cent equity of Chemcel (Pvt) Ltd and it is reflected in its books that the investment value of Rs….

(0)Comments | June 4, 2015 3:14 am

Nawaloka Hospitals PLC to provide elder care services through joint venture

New Nawaloka Medical Center (Pvt) Ltd, a wholly owned subsidiary of  Nawaloka Hospitals PLC signed a memorandum of understanding on 30 May 2015 with Harmony and Fusion International (Pvt) Ltd for a joint venture company under the name Nawaloka Guardian International (Pvt) Ltd to carry out an elder care services. Nawaloka Hospitals will take up…

(0)Comments | June 4, 2015 2:59 am

Ceylinco Insurance incorporates two subsidiaries

Ceylinco Insurance PLC incorporated its two fully owned subsidiaries Ceylinco Life Insurance Limited and Ceylinco General Insurance Limited in order to carry out its long term and general insurance businesses while complying with the segregation of the two classes of insurance businesses under the Regulation of the Insurance Industry (Amendment) Act. Accordingly, the Insurance Board…

(0)Comments | June 4, 2015 2:47 am