Top News

Double blow for Ceylon Electricity Board

The Ceylon Electricity Board’s hydro-power generation has fallen to 15 percent due to the prevailing drought and hence 85 percent of the required power is being generated through fuel and coal power plants, says the chairman of the Ceylon Electricity Board (CEB). CEB chairman W.B. Ganegala told AdaderanaBiz that the board’s losses have increased since…

(0)Comments | April 2, 2014 4:26 am

Krishan heads Nations Trust Bank

Krishan Balendra has been appointed Chairman of Nations Trust Bank (NTB). He is to assume duties from 01 May 2014.

(0)Comments | April 1, 2014 4:18 pm

Stock Market Review

Colombo bourse regained lost ground on Tuesday as the ASI closed at 6,001.83, up by 33.52 index points (+0.56%) while 20-script S&P SL index closed at 3,299.90, up by 19.98 index points or 0.61%. The gains in the index were led by price appreciations in blue chips such as John Keells Holdings (closed at LKR…

(0)Comments | April 1, 2014 11:53 am

Strategic investors for several Sri Lankan banks

Several strategic investors have expressed their willingness to invest in Sri Lanka’s banks and non-banking financial institutions, says the Central Bank of Sri Lanka (CBSL). These types of investments would make the balance sheets of such institutions stronger and also provide the opportunities to widen their businesses, says the CBSL. Meanwhile, the process of consolidating…

(0)Comments | April 1, 2014 9:50 am

CEAT invests Rs. 600 million more on radials

CEAT Kelani Holdings (Pvt) Ltd. which produces almost half of Sri Lanka’s tyre requirements invested Rs. 600 million to establish a new factory for producing radial tyres. This new factory is adjoining the existing CEAT Kelani manufacturing complex in Kelaniya. The company says that this would enable it to develop its tyres with the CEAT…

(0)Comments | April 1, 2014 9:33 am

Work on Kottawa Expressway city to begin soon

While AdaderanaBiz continued to reveal details of the ultra modern city near the Kottawa interchange of the Southern Expressway, now it could be revealed when this project would begin. Urban Development Authority (UDA) Deputy Director – Planning, Priyani Navaratne told AdaderanaBiz, “The planning stages of this project have been now completed. We expect to begin…

(0)Comments | April 1, 2014 3:37 am

C.W. Mackie buys 88.23 percent of Kelani Valley Canneries

C.W. Mackie PLC has purchased 30,351,222 ordinary shares representing 88.23 percent of Kelani Valley Canneries Ltd. from CIC Agri Business (Pvt) Ltd. for a purchase consideration of Rs. 130,000,000 on 31 March 2014.

(0)Comments | April 1, 2014 3:19 am

Stock Market Review

Colombo equities closed on a mixed note on Monday as the benchmark All share price index extended losses to closed at 5,968.31 with a drop of 3.86 points (-0.06%) while S&P SL20 index managed to marginally gain 1.25 points (+0.04%) to closed at 3,279.92. Price depreciation in counters such as Hatton National Bank (closed at…

(0)Comments | March 31, 2014 12:05 pm

Inflation remains static this month

Latest data reveal that the March inflationary rate in Sri Lanka remains static with 4.2 percent as compared to February this year. According to the data released by the Census and Statics Department, based on the Colombo Consumer Price Index, the normal increase in prices of goods in Sri Lanka or inflation has been 4.2…

(0)Comments | March 31, 2014 10:38 am

Japan factory output slows unexpectedly in February

Factory output in Japan declined by 2.3% in February, official figures released on Monday show. The fall could add to concerns about a slowdown in the world’s third-largest economy. February’s figure was the first decrease in three months, and it surprised many analysts who were expecting a boost ahead of a planned tax increase. Sales…

(0)Comments | March 31, 2014 4:58 am