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Five foreign banks likely to enter Sri Lanka

Five foreign banks have reportedly sought Central Bank permission to begin operations in Sri Lanka. While it has been reported that two of the largest banks in Japan and China are among these five, they are preparing to begin operations in Sri Lanka after the Central Bank approves them.

(0)Comments | October 2, 2015 11:16 am

Otara Foundation launches public appeal to Govt. to enact new Animal Welfare Bill

The Otara Foundation is to press the government to enact the new Animal Welfare Bill by mobilising mass public support for the legislation via a 100,000 on-line signature campaign launched to mark World Animal Day, celebrated globally on 4th October. The new Animal Welfare Bill was intended to replace Sri Lanka’s antiquated Prevention of Cruelty…

(0)Comments | October 2, 2015 11:10 am

Bank of Ceylon Debenture Issue oversubscribed

The issue of five million Unsecured Subordinated Redeemable Debentures by the Bank of Ceylon at an Issue price of Rs. 100 each was oversubscribed after receiving applications for over Rs. 08 billion. The Issue closed at 4.30 pm today (01 October 2015).

(0)Comments | October 1, 2015 9:36 pm

Watawala Tea Ceylon Ltd. appoints Surith Perera as CEO

* Former Unilever Sri Lanka Board Director to head Watawala Tea Ceylon Ltd, a member of the Sunshine Holdings conglomerate    Eyeing significant expansion, including exporting the Zesta brand to several countries, Watawala Tea Ceylon (WTC), one of the most admired branded Tea Companies, has appointed top marketing & sales professional and former Unilever Sri…

(0)Comments | October 1, 2015 8:05 pm

Colombo stocks regain lost grounds

Colombo bourse regained lost grounds on Thursday where the foreign investors lift their activity to record the highest foreign participation after 17 months. Activity level of the foreigners increased during the week to record average of 59% of the market activity, amid the positive sentiments triggered in the UNHCR session, favoring the country and its…

(0)Comments | October 1, 2015 6:03 pm

Miss Sri Lanka for Miss World finalists visit Arpico Supercentres

A bevy of beautiful women added extra colour and glamour to Arpico Supercentres recently when the 15 finalists of the 2015 Miss Sri Lanka for Miss World pageant visited the Supercentres at Hyde Park Corner, Battaramulla and Dehiwela. Accompanied by the winners of the Miss Sri Lanka contests of 2012, 2013 and 2014, the women…

(0)Comments | October 1, 2015 4:04 pm

Sri Lanka in deflation: Situation unfavourable

Generally what were talked about earlier are continued price hikes of the normal consumer goods in Sri Lanka or Inflation. However, the Government’s latest data indicates that what is witnessed in Sri Lanka currently is in fact a ‘Deflation’. Accordingly, during September this year, when compared to September of 2014, the consumer prices in Sri…

(0)Comments | October 1, 2015 1:12 pm

Following change, US companies keen on investing in Sri Lanka, says Ambassador

Following the new Government coming into power and its commitment to good-governance, US companies are showing greater keenness on investing in Sri Lanka, said US Ambassador to Sri Lanka Atul Keshap while speaking at the 23rd Annual Convention of the American Chamber of Commerce. He is thankful to President Maithripala Sirisena and Prime Minister Ranil…

(0)Comments | October 1, 2015 10:25 am

VW crisis: What next for the company and its hometown Wolfsburg?

The city of Wolfsburg in Lower Saxony is not merely the hometown of Volkswagen. Wolfsburg is Volkswagen, Germany’s answer to Detroit – but rather more prosperous. It was founded in the 1930s as a place to house workers building the KdF-Wagen – the car which became the VW Beetle after the Second World War. Even…

(0)Comments | October 1, 2015 10:21 am

Selling pressure in blue-chip stocks drags Indices down

Selling pressure in blue-chip stocks dragged the Indices down on Wednesday and the ASI declined by 34.51 index points or -0.49% to end at a 11-week low of 7,050.87. S&P SL 20 index dropped 32.46 points (-0.84%) to end at 3,826.15. Main index lost 59.93 points or 0.8% during this week. Today’s losses were mainly…

(0)Comments | September 30, 2015 5:19 pm