manusath-derana

Top News

John Keells Holdings concludes debt financing for Waterfront Project re-branded ‘Cinnamon Life’

Waterfront Properties (Private) Limited, the subsidiary controlled by John Keells Holdings PLC has finalized a syndicated project development facility amounting to USD 395 million with the Standard Chartered Bank thus concluding the required debt financing for the project. John Keells’ Waterfront Project situated in a premier location of Colombo includes a 6 star hotel, apartment…

(0)Comments | June 25, 2015 11:40 am

World Bank approves $50 Million to support National Plan for Early Childhood care and Development in Sri Lanka

The World Bank Board approved a $50 million credit to improve the quality and increase equitable access to Early Childhood Development (ECD) services in Sri Lanka. Early investment in human capital development is particularly effective at increasing the ability of disadvantaged children to access learning opportunities. It will also contribute to improve learning outcomes and…

(0)Comments | June 25, 2015 11:03 am

Central Bank clarifies Governor’s appointment, issue of currency notes

The Central Bank of Sri Lanka, through a media release clarified the recent appointment of its Governor and also the alleged controversy on the issue of currency notes bearing his signature. The statement in full: The Central Bank of Sri Lanka wishes to inform the general public of the position on the validity of the…

(0)Comments | June 24, 2015 7:57 pm

Southern, Kandy Expressways – Government steps in during last moments

On 04 July President Maithripal Sirisena would inaugurate the project to extend the present stretch of the Southern Expressway from Kottawa to Godagama in Matara, said Highways and Investment Promotion Minister Kabeer Hashim. While speaking in Colombo today, he said work on the 9.32 kilometre stretch of the third phase of the Outer Circular Highway…

(0)Comments | June 24, 2015 7:56 pm

KPMG to restructure Lak Sathosa; Treasury pumps 7.5 billion to Sathosa

Rs. 7.5 billion is to be obtained from the Treasury to re-launch the massive loss incurring Lak Sathosa and its restructuring has been entrusted to KPMG Sri Lanka, said Minister of Industry and Commerce Risad Badhiutheen. He said today in Colombo that KPMG would restructure all sections of Lak Sathosa including its storage facilities, marketing…

(0)Comments | June 24, 2015 7:39 pm

EXCLUSIVE: Kaduwela-Kadawatha stretch of Outer Circular Highway to be opened end June

Work on the Kaduwela-Kadawatha 8.9 kilometre stretch of the Outer Circular Highway, the second phase of the highway that connects the Southern Expressway at Kottawa and on which work was started by the former government, is to be completed and opened to the public on 30 June by the government, learns www.adaderanabiz.lk Work is also…

(0)Comments | June 24, 2015 7:04 pm

Colombo stocks close with flat returns

Colombo stock market closed with flat returns on Wednesday shedding the early gains as investor sentiment continued to remain weak ahead of potential general election. During the opening hours, main index crossed 7,072 mark but failed to maintain the momentum, closed 0.13 index points (-0.00%) lower at 7,053.83. The 20-scrip S&P SL index shed 11.06…

(0)Comments | June 24, 2015 7:03 pm

MasterCard meets Prime Minister to reaffirm commitment to Sri Lanka

A senior delegation headed by MasterCard’s Co-President – Asia Pacific, Ari Sarker and Executive Director – South Asia, Vikas Varma paid a courtesy visit to Prime Minister Ranil Wickremesinghe earlier this week. MasterCard reaffirmed its commitment to the Sri Lankan market and offered support to the government in its growth and development agenda.  The annual…

(0)Comments | June 24, 2015 4:06 pm

SEC considers mandatory rating system for stock broking firms

In a bid to improve investor confidence Sri Lanka, the Securities and Exchange Commission of Sri Lanka (SEC) which regulates the capital markets has said it is considering a mandatory rating for stock broking firms. SEC chairman Thilak Karunaratne is reported as saying in the SEC’s annual report that stock broking companies perform an important…

(0)Comments | June 24, 2015 1:17 pm

Police raid Toyota headquarters after Julie Hamp arrest

Police have raided the headquarters of Toyota Motor in Toyota City, as well as its office in Tokyo. It comes after the arrest of senior American executive Julie Hamp on suspicion of importing a controlled substance into Japan. Toyota President Akio Toyoda said last week that he believes she did not intend to violate the…

(0)Comments | June 24, 2015 12:31 pm