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SAARC Energy Independence by 2030 to create livable Planet Earth – Dr. Abdul Kalam

Former President of India Dr. Abdul Kalam delivering the inaugural speech at the International Energy Symposium organized by the Ministry of Power and Energy in Colombo (26) emphasized the need of member countries in the SAARC region coming together to achieve ‘energy independence’ by 2030. “All countries in the region have similar culture and environment….

(0)Comments | June 27, 2015 3:08 pm

Sri Lanka’s Mahendran Seeks Overseas Loans to Reduce Debt Costs

Sri Lankan central bank Governor Arjuna Mahendran is seeking concessional overseas loans to refinance costlier debt and reduce reliance on global bond markets. “We are looking at tens of billions of dollars” from lenders including the U.S., Japan and the European Union, Mahendran said in a telephone interview from Colombo. Concessional credit will “eventually refinance…

(0)Comments | June 27, 2015 3:07 pm

Latest state of Sri Lanka’s foreign reserves

Sri Lanka’s official foreign reserves which stood at USD 6.8 billion last May has grown to USD 7.6 billion by June, says the Central Bank of Sri Lanka (CBSL). This amount is adequate for 4.6 months of imports. The recent currency swap with India has facilitated the growth of Sri Lanka’s foreign reserves. Recently, Sri…

(0)Comments | June 26, 2015 7:21 pm

Colombo stocks end weekly operations with negative returns

Colombo equities ended weekly operations with negative returns ahead of the mid-year monetary policy review. During the opening hours, main index increased to 7,035 mark but failed to maintain the momentum and touched 10 week low. All share index declined by 15.13 index points (-0.22%) to close at 7,016.20 while 20-scrip S&P SL index shed…

(0)Comments | June 26, 2015 6:02 pm

Japanese carmakers expand Takata airbag recall

Japanese car giants Toyota, Nissan and Mitsubishi have expanded a recall of cars to replace airbags made by Takata. The recalls had initially been issued in North America, but have now been extended to the rest of the world. The carmakers said they were calling back a total of 3.2 million cars globally, affecting nearly…

(0)Comments | June 26, 2015 2:51 pm

The Steuart by Citrus – boutique business hotel in Colombo opens today

The Steuart by Citrus, the latest addition to Colombo City’s tourism offering will be declared open today (26 June) President Maithripala Sirisena. Located at the very heart of Colombo, The Steuart will operate as a boutique business hotel offering the convenience of its prime location coupled with true Sri Lankan hospitality and traditional Scottish charm….

(0)Comments | June 26, 2015 10:33 am

Emergency loan scheme for tea factories

The government has prepared a working capital loan scheme for tea factories inconvenienced due to the crisis situation in the world market. This loan scheme for all tea factory owners would be implemented through all state and commercial banks while the government has promised the relevant banks of a 02 per cent interest relief to…

(0)Comments | June 25, 2015 8:44 pm

USD 08 million from India for emergency ambulance service

In a bid to take a seriously ill patient or an accident victim to hospital within the first 30 minutes, the government is to begin an emergency ambulance service for rural areas while utilizing 297 ambulances. While a similar ambulance service is operative in India, the assistance to begin such a service in Sri Lanka…

(0)Comments | June 25, 2015 8:33 pm

Bill Lisle – new Chairman/Director of AIA Insurance (Lanka)

AIA Insurance (Lanka) PLC has appointed William Lisle (Bill Lisle) as Chairman/Director with effect from 22 June 2015. He replaces Gordon Timmins Watson. He will be a Non-Executive, Non-Independent Director. The reconstituted Board is as follows: William Lisle (Bill Lisle) Chairman Non-Executive, Non-Independent Director; Mitchell David New, Non-Executive, Non-Independent Director; Manoj Ramachandran, Non-Executive, Non-Independent Director;…

(0)Comments | June 25, 2015 8:13 pm

Mariah Carey and James Packer to marry?

Mariah Carey’s new beau James Packer wants to marry her. The ‘#Beautiful’ hitmaker, who split from Nick Cannon last summer after six years of marriage, and the Australian billionaire have only been dating since last week, but they are reportedly already talking about exchanging vows. A source close to the 45-year-old singer told gossip website…

(0)Comments | June 25, 2015 6:59 pm