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Commercial Bank in steady start to 2015

The Commercial Bank of Ceylon PLC has made a steady start to 2015, with profit after tax of Rs 2.509 billion for the three months ended 31st March, an improvement of 10.1% YoY. A robust YoYgrowth in loans and receivables coupled with customary strong deposit growth and lower cost of funds contributed to this growth…

(0)Comments | May 13, 2015 3:10 pm

Sri Lanka first nation to protect all mangrove forests

A scheme backed by the government will include alternative job training, replanting projects and microloans. Mangroves are considered to be one of the world’s most at-risk habitats, with more than half being lost or destroyed in the past century. Conservationists hope other mangrove-rich nations will follow suit and adopt a similar protection model. Commenting on…

(0)Comments | May 13, 2015 1:28 pm

A ‘must hear’ facet on CEPA liked by Modi, not so liked by Samantha -Video Interview

There is strong opposition currently brewing up towards the CEPA or Comprehensive Economic Partnership Agreement to be signed with India. While the signing of this agreement had been abandoned earlier due to such protests, during his recent visit to Sri Lanka, Indian Prime Minister Narendra Modi pointed out that signing this agreement was important. Meanwhile,…

(0)Comments | May 13, 2015 12:17 pm

SC rejects FR against Arjuna Mahendran

The Supreme Court of Sri Lanka today rejected the Fundamental Rights (FR) petition seeking an independent inquiry into the controversial Central Bank Treasury bond issue and it’s Governor Arjuna Mahendran. Central Bank Governor Arjuna Mahendran, who was accused of being involved in irregular activities in the bond issue due to his son-in-law’s family firm securing…

(0)Comments | May 13, 2015 11:39 am

The Calamander Group says nothing to do with new boutique hotel ‘Calamander Bay’ in Trincomalee

Following the opening and marketing of a new boutique hotel in Trincomalee calling itself the ‘Calamander Bay’, The Calamander Group has clarified that this new hotel and its owners have nothing to do with the Group. A spokesman for Calamander stated: “The Calamander Group has no association of any sort with the boutique resort calling…

(0)Comments | May 13, 2015 10:22 am

Tata Housing resolves Slave Island issues, consents to 2nd, 3rd phases

The issues with India’s Tata Housing have resolved through discussions and the company would continue its construction work on the housing project at Slave Island (Kompannaveediya), said the Finance Minister. Finance Minister Ravi Karunanayake said that Tata Housing representatives held discussions with him and that during this meeting they had agreed to bring in more…

(0)Comments | May 12, 2015 7:39 pm

Lakith Peiris appointed Managing Director Hemas Hospitals Chain

Hemas Hospitals announced the appointment of Dr. Lakith Peiris as the Managing Director of Hemas Hospitals with effect from 01 April 2015. He will overlook the three Hemas Hospitals at Wattala, Galle and Thalawathugoda and their 32 laboratories around the country.  Dr. Peiris is a well-known leader in the healthcare industry having been the CEO…

(0)Comments | May 12, 2015 7:38 pm

Colombo Stocks close on positive note

Colombo bourse closed on positive note on Tuesday amid positive earnings and dividend announcements. The main index notably advanced by 44.98 points or 0.62% to record a nearly 10 week high of 7,258.61 while S&P SL 20 index record a nearly one month high of 4,073.56 with a gain of 12.52 points (+0.31%). Today’s gains…

(0)Comments | May 12, 2015 6:18 pm

China-Sri Lanka satisfied with Norochcholai Coal Power Plant performance

China and Sri Lanka expressed full satisfaction with their cooperation on Norochcholai Coal Power Plant. In a meeting at the Ministry of Power and Energy recently on May 8, both Minister Champika Ranawaka and Chinese Embassy Deputy Head of Mission Ren Faqiang, spoke highly of the smooth operation of the country’s first coal power plant…

(0)Comments | May 12, 2015 4:01 pm

Joint Business Chamber welcomes ‘Ease of Doing Business’

It welcomes and endorses the timely initiative taken by the Ministry of Finance to engage in a series of discussions with the public institutions and private sector to address the issues concerning the improvement of Sri Lanka’s Ease of Doing Business Ranking which now ranked at 99 among 189 countries, says the Joint Business Chambers…

(0)Comments | May 12, 2015 3:54 pm