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It’s time to get that loan: Interest rates steady

The Monetary Board of the Sri Lanka Central Bank has decided to keep interest rates unchanged in March this year. The prevailing percentages are 6.50 and 8.00. This move will in turn keep the interest rates of commercial banks steady without any increase in the near future. According to the Central Bank, in January 2014…

(0)Comments | March 21, 2014 3:03 am

Former Auditor General’s building to have 42 shops

Renovations work at the building at Independence Square in Colombo earlier maintained by the Auditor General’s Department is nearing completion. This building is to be reopened in May as a shopping complex with 42 sales outlets, says the Chairman of the Urban Development Authority (UDA). UDA Chairman Nimal Perera told AdaderanaBiz that all 42 sales…

(0)Comments | March 20, 2014 11:41 am

Stock Market Review

Colombo bourse managed to close in the positive territory on Thursday. Benchmark index slightly gained 2.51 index points (+0.04%) to close at 5,914.56 and 20-scrip S&P SL index gained 6.69 index points (+0.21%) to close at 3,231.91. Price appreciations in illiquid stocks such as Indo Malay & Selinsing helped the ASI to close higher. Further,…

(0)Comments | March 20, 2014 11:08 am

Search operation on for fastest pizza makers, black coffee brewers in Sri Lanka

Two competitions, one for the fastest pizza maker and the other for the best coffee shop in Sri Lanka have been added as the latest attraction to the ‘Hotel Show’, perhaps the largest services sector exhibition in South Asia. The organizers say that the fastest pizza maker competition has been introduced while considering the development of speed in the…

(0)Comments | March 20, 2014 6:00 am

Up go tourist dollars spent each night in Sri Lanka

The dollars spent by tourists spending a night in Sri Lanka is on the rise due to the increase in the services and value additions within the country’s tourism sector, says the Director General of the Sri Lanka Tourism Development Authority. In 2012, the amount a foreign tourist arriving in Sri Lanka had spent a…

(0)Comments | March 19, 2014 7:01 pm

Southern Expressway goes to Hambantota in four phases

The government has planned to divide the construction of the Southern Expressway extension from Godagama to the Hambantota harbour into four phases and hand them over to the respective contractors. Deputy Highways Minister Nirmala Kothalawala told AdaderanaBiz that the contracts could be awarded by August this year. “This section is 93 kilometres long. We are now attending to…

(0)Comments | March 19, 2014 9:58 am

Court refuses enjoining order sought over termination of Serene Pavilions CEO

The Commercial High Court today (March 19) refused an enjoining order sought by Anura Lokuhetty, restraining his termination as the CEO of the Serene Pavilions Hotel. The Commercial High Court of Colombo in December issued an interim order restraining 3 directors nominated by Mr. Anura Lokuhetty and South West Holdings Ltd, a company controlled by…

(0)Comments | March 19, 2014 8:10 am

Capital Market education compulsory for undergraduate students and commerce teachers country-wide

In a ground breaking achievement for capital market education the University Grants Commission (UGC) and the Education Ministry have approved a programme proposed by the Colombo Stock Exchange (CSE) to conduct compulsory workshops for Undergraduate Students and Commerce Teachers across the country. The introductory sessions that were held recently saw avid interest generated from the parties involved. Accordingly, workshops…

(0)Comments | March 19, 2014 4:42 am

More world’s largest aircraft over Mattala, more income for Sri Lanka

Flights of the world’s largest passenger aircraft, the A380 have increased over the Mattala international airport in Hambantota and this has contributed to an increase in earning for Sri Lanka, says the Sri Lanka Airport and Aviation Services Limited Chairman. Airport and Aviation Services Limited Chairman Prasanna Wickramasuriya told AdaderanaBiz that since the Mattala international…

(0)Comments | March 18, 2014 11:50 am

Stock Market Review

Colombo Stock market ended days’ trading on a mixed note. The ASI declined marginally by 6.47 points (-0.11%) to closed at 5,907.64 while 20-scrip S&P SL 20 index gained 1.22 points (+0.04%) to closed at 3,214.64. Price depreciations in Nestle Lanka (closed at LKR 1,900.00, -4.6%), Commercial Leasing & Finance (closed at LKR 3.80, -5.0%),…

(0)Comments | March 18, 2014 11:49 am