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Breaking News -Ravi Wettasinghe arrested at BIA

Ravi Wettasinghe was arrested by Immigration and Emigration officials this evening (20 February) at the Bandaranaike International Airport in connection with a pending case, said police spokesman SSP Ajith Rohana. Though what the pending case is not clear as yet, Ravi Wettasinghe, who was chairman of Wesco, the CTB’s Werahera central workshop after being privatized…

(0)Comments | February 20, 2015 6:53 pm

Jaffna High Court allows MTD Walkers to restore Northern Power status quo on illegal eviction of employees

The Jaffna High Court this morning (20 February) allowed the Northern Power Co (Pvt) Ltd’s parent company MTD Walkers PLC’s Revision Application to restore the status quo on the illegal eviction of employees from the Chunnakkam Power Plant. Commenting on this court decision, MTD Walkers PLC Director/ CEO Lal Perera said, “This morning the Jaffna…

(0)Comments | February 20, 2015 6:12 pm

Stock Market Review – 20th Feb 2015

Colombo equities concluded the weekly activities on an optimistic note as investors reacted to positive corporate earnings and attractive dividends declared in high cap counters. Main index gained 8.74 points (+0.12%) to end at 7,314.91 while S&P SL 20 index gained 19.67 (+0.48%) to end at 4,133.01. Today’s gains were fuelled by counters such as…

(0)Comments | February 20, 2015 6:11 pm

Crown Resorts backed in despite profit tumble on failed Sri Lanka gambit

SHARES in James Packer’s Crown casino group have soared by more than 7 per cent despite a slump in first-half net profit. Crown suffered a 47 per cent fall in profit for the six months to December after being hit by asset impairment charges and hefty costs from its abandoned Sri Lanka resort. The gaming…

(0)Comments | February 20, 2015 11:24 am

Stock Market Review – 19th Feb 2015

Colombo bourse regained lost ground on Thursday where both indices witnessed positive returns amid higher foreign participation. All share index bagged 39.33 index points (+0.54%) to end at 7,306.17 while 20-scrip S&P SL index improved by 38.72 index points or 0.95% to close at 4,113.34. Price advances in Dialog Axiata (closed at LKR 12.30, +2.5%),…

(0)Comments | February 19, 2015 11:27 pm

Statement by IMF, Sri Lanka Finance Minister after Washington meeting

IMF Managing Director Christine Lagarde and Mr. Ravi Karunanayake, Finance Minister of Sri Lanka, issued the following joint statement after their meeting in Washington: “We had a fruitful discussion about recent economic developments in Sri Lanka and the near-term outlook. These discussions will continue in the context of the next regularly scheduled Post-Program Monitoring mission…

(0)Comments | February 19, 2015 2:21 pm

Harsha speaks at the first CIM CEO Forum 2015

The Chartered Institute of Marketing (CIM) recently concluded its first CEO Forum for the year 2015 titled “ Sri Lanka – Vision 15/20, Opportunities & Challenges” at the JAIC Hilton Colombo Residences, with more than 100 Marketers and CEO’s attending. The speaker at this forum was Dr. Harsha de Silva, Hon. Deputy Minister of Policy…

(0)Comments | February 19, 2015 2:20 pm

IFC Invests in Cargills Foods to Create Jobs, Boost Farmer Incomes, Support Growth in Sri Lanka

IFC, a member of the World Bank Group, is investing LKR 2,550 million for an 8% equity stake in Sri Lanka’s Cargills Foods Company Pvt Limited (CFC), the retail subsidiary of Cargills (Ceylon) PLC to help the company expand its operations in the country, enhance its backward integration system and develop the efficiency of its…

(0)Comments | February 18, 2015 7:16 pm

Stock Market Review – 18th Feb 2015

Colombo shares concluded the day on a weak note following a batch of mixed corporate earnings and rising T-bill yields. Main index lost 33.91 points or 0.46% to end at 7,266.84 while S&P SL 20 index marginally gained 3.49 points (+0.09%) to end at 4,074.62. Subsequent to today’s losses the year to date return of…

(0)Comments | February 18, 2015 7:14 pm

Bangsajayah takes over as Managing Director of Sri Lanka Insurance

T.M.R. Bangsajayah, a retired Sri Lanka Police officer has been appointed Managing Director of Sri Lanka Insurance. He has been appointed with effect from 13 February 2015. Sri Lanka Insurance comes under the purview of Finance Minister Ravi Karunanayake. Sri Lanka Insurance Corporation Ltd. Managing Director T.M.R. Bangsa Jayah is a retired commissioned Police Officer…

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