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Software to safeguard Sri Lanka’s seas from pollution

A software which could assist in preventing Sri Lanka maritime zone from being polluted by arriving ships has been prepared jointly by the Information and Communication Technology Agency of Sri Lanka (ICTA) and the Marine Environment Protection Authority (MEPA). This software enables the systematic and efficient removal of garbage or pollutants in vessels arriving to…

(0)Comments | May 20, 2015 2:36 pm

Economics Matters- A Central Bank missing the main point puts the nation on ‘extra’ red alert

By W.A Wijewardena Treating losses lightly by the Central Bank The Central Bank has issued a response to the article of this writer in this series titled ‘The continually loss-making Central Bank puts nation on red alert’. The reading of the response reveals that while the arguments presented have been flimsy, the Central Bank has…

(0)Comments | May 20, 2015 2:21 pm

Will Sri Lanka possess several petroleum and gas fields after 2018?

Sri Lanka is set to possess maritime borders extending up to 800 kilometres from shore in 2018 and it is believed that there are oil and natural gas deposits within these maritime areas said National Ocean Affairs Committee chairman Chris Tilaka Sri Dharmakeerthi. During an exclusive interview with www.adaderanabiz.lk he added, Sri Lanka is now…

(0)Comments | May 20, 2015 11:45 am

Colombo Stocks end with positive returns

Colombo bourse ended with positive returns on Tuesday as benchmark All Share Price index gained 11.18 points or 0.15% to end at 7,266.20 while S&P SL 20 index gained 9.51 points (+0.24%) to end at 4,046.83. Price advancements in counters such as Aitken Spence Hotel Holdings (closed at LKR 83.90, +6.2%), Ceylon Tea Services (closed…

(0)Comments | May 19, 2015 5:38 pm

LIOC stumbles by selling cheaper fuel

Lanka IOC (LIOC) which showed profits of Rs. 722 million during the first quarter of 2014 has recorded a loss of Rs. 1.06 billion during the March quarter of 2015 in the face of the fuel price reductions by the government, reveals its annual report. In January this year the government reduced the prices of…

(0)Comments | May 19, 2015 12:10 pm

CEAT Kelani invests in new advanced motorcycle tyre plant in Sri Lanka

A new state-of-the-art facility for the manufacture of motorcycle tyres for the local and international markets has been commissioned in Sri Lanka by CEAT Kelani Holdings, the company that manufactures half of the country’s tyre requirements. Set up within the CEAT Kelani complex at Kelaniya with an initial investment of Rs 95 million, the new…

(0)Comments | May 19, 2015 12:09 pm

Work In Sri Lanka continues to draw attention of expat community

Work In Sri Lanka (WISL), a volunteer-led brain gain initiative that aims to position Sri Lanka as an attractive work destination, for highly skilled individuals and high caliber businesses, will hold its quarterly meet up in Colombo today (Tuesday, 19 May) at 6.30 pm at Clique.  This networking event is for people who have recently…

(0)Comments | May 19, 2015 10:50 am

Dilith sends letter of demand to Rajamahendran

Dilith Jayaweera, the Joint Managing Director of TV Derana, has sent a letter of demand to the Director of MBC Network (Pvt) Ltd, Rajendran Rajamahendran, seeking Rs 2 billion in damage over alleged defamatory statements made against him on Sirasa TV. The same letter of demand has also been sent to Faraz Shauketaly who describes…

(0)Comments | May 19, 2015 7:26 am

Colombo shares start weekly operations on negative note

Colombo equity market started weekly operations on negative note where both counters shed returns amid the prevailing political uncertainties. Main index swung between gains and losses on Monday where index touched 7,277 mark in the opening hours. All share index marginally declined by 3.65 index points or 0.05% to end at 7,255.02 while 20-scrip S&P…

(0)Comments | May 18, 2015 6:11 pm

Lord Mayor of the City of London Visits CSE

Lord Mayor of the City of London Alan Yarrow visited the Colombo Stock Exchange (CSE) and took part in the Market Opening Ceremony. Furthermore he also held discussions on the investment prospects of the Sri Lankan Capital Market and the potential for the growth of foreign direct investment under the new government. The British High…

(0)Comments | May 18, 2015 4:27 pm