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Government borrowings within first four months of this year

Finance Minister Ravi Karunanayake has informed the Cabinet of the amount the government has borrowed within the first four months of 2015 According to him, within the four months of this year ending 30 April the government has obtained Rs. 311.7 billion through Treasury Bonds, Rs. 83.6 billion through Treasury Bills, Rs. 113.5 billion through…

(0)Comments | June 18, 2015 3:25 pm

Golden Key Case: Government will repay up to 41 %, says AG

The State Counsels on Thursday (18) apprised the Court of Appeal that the government will repay up to 41 percent of the moneys deposited with the bankrupt Golden Key Credit Card Company which belonged to former Ceylinco Chairman Lalith Kotelawala. The State Counsel further informed the Court that the cabinet approval has already been granted…

(0)Comments | June 18, 2015 1:18 pm

What next if Super Gains Tax not passed by Parliament?

If Parliamentary approval cannot be obtained for the Super Gains Tax, the Mansion Tax etc introduced by the new government’s interim budget, it could be obtained in the next parliament and hence no issues would arise over their legal aspects, said Finance Minister Ravi Karunanayake. The Finance Minister added that though these taxes have been…

(0)Comments | June 17, 2015 4:43 pm

Colombo stocks end on flat note

Colombo shares ended on flat note on Wednesday, as the main index marginally advanced by 5.11 points or 0.07% to end at 7,049.71 while S&P SL 20 index marginally advanced by 3.70 points (+0.09%) to end at 3,914.76. Price depreciations in primary blue chips such as John Keells Holdings (closed at LKR 197.00, +2.0%), Hemas…

(0)Comments | June 17, 2015 4:40 pm

NDB Debenture Issue oversubscribed

The Listed Debenture Issue of National Development Bank PLC was oversubscribed during the early hours of the opening day as per the disclosures made to the CSE by the Registrars to the Debenture Issue. NDB Investment Bank acted as the Financial Advisors and Managers to the Debenture Issue. The debenture issue of National Development Bank…

(0)Comments | June 17, 2015 1:08 pm

Sri Lankan government invites proposals to borrow USD 500 million

The Sri Lankan government has invited proposals from investment banks to borrow up to USD 500 million on a fixed or floating interest basis. While announcing this, the External Resources Department states that the interest on this borrowing would be paid once in six months. The investment banks have to submit bids in multiples of…

(0)Comments | June 17, 2015 11:44 am

India-Sri Lanka to be linked by road

Following the inauguration of Agartala-Dhaka bus service and signing of the Bangladesh, Bhutan, India, Nepal motor vehicle agreement, the Centre is also looking at connecting India and Sri Lanka, Union minister for road transport and highways Nitin Gadkari said on Tuesday. The road connectivity, built across Palk Strait, could possibly a combination of a sea-bridge…

(0)Comments | June 17, 2015 9:53 am

Rum Punch partners with Zalora – Asia’s largest online fashion store

Rum Punch, an exclusive brand of resort wear founded by Rukshika Fernando Seneviratne and Binara Seneviratne, will be the first Sri Lankan brand to be retailed on Zalora – Asia’s largest online fashion store, later this month. Rum Punch is a designer brand for the stylish, fun and hip young woman. The brand was launched…

(0)Comments | June 16, 2015 11:31 pm

Colombo stocks end in negative territory

Colombo bourse ended in negative territory snapping two day gains on Tuesday amid price declined in index heavy counters. The main index lost 34.37 index points or -0.49% to end at a nearly 9-week low of 7,044.60 while S&P SL 20 index lost 15.90 points (-0.40%) to end at 3,911.06. The decline was mainly driven…

(0)Comments | June 16, 2015 6:55 pm

Sri Lankan assistance for Seychelles power sector

Sri Lanka is to provide its fullest assistance in expanding the renewable power sources of the recently much talked about Seychelles archipelago, Power & Energy Minister Patali Champika Ranawaka told the Seychelles Ambassador in Sri Lanka Waven William when he met him in Colombo this morning (16 June). The Ambassador said that the Seychelles government…

(0)Comments | June 16, 2015 5:46 pm