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Prominent Sri Lanka investor Senthilverl consolidates stake in Vallibel Power

Prominent investor at the Colombo Stock Exchange, Dr. T. Senthiverl now owns 14.432 per cent shares of Vallibel Power Erathna PLC headed by another prominent Sri Lankan businessman Dhammika Perera. This increase in shares is following Dr. Senthilverl acquiring 105.8 million shares of Vallibel Power on 04 November. Currently he is in possession of 107.8…

(0)Comments | November 7, 2014 3:11 pm

Toyota’s 850-horsepower Camry is insane

Toyota unveiled an 850-horsepower Camry sedan at a Las Vegas trade show Tuesday. Yes, it’s insane. No, you can’t buy one. Compare that horsepower figure to a Lamborghini Huracán, which packs 602, or a Dodge Challenger Hellcat with 707. Toyota (TM) calls it the “Sleeper Camry.” Generally speaking, a “sleeper car” is one that looks…

(0)Comments | November 6, 2014 11:34 am

Female Field Officers making strides in Sri Lanka’s plantation industry

Women workers in estates applaud pioneering empowerment initiative  A feminine touch has been welcomed by the traditionally male-dominated estate sector, with a pioneering initiative by a Regional Plantation Company (RPC) to empower and develop Female Field Officers receiving the strong support and commendation of the company’s female workers. Kahawatte Plantations PLC which pioneered the concept…

(0)Comments | November 5, 2014 10:13 pm

Starwood Worldwide to manage Browns’ Sheraton Kosgoda Turtle Beach Resort in Sri Lanka

Browns Hotels and Resorts Limited, a fully owned subsidiary of Browns Investments PLC signed an agreement today (05 November) with Starwood Hotels and Resorts Worldwide Inc. to grant Starwood the management rights of its five-star Sheraton Kosgoda Turtle Beach Resort in Kosgoda in the southern coast of Sri Lanka. Sheraton Kosgoda Turtle Beach Resort will…

(0)Comments | November 5, 2014 9:41 pm

Merchant Bank of Sri Lanka debenture issue oversubscribed

The debenture issue by the Merchant Bank of Sri Lanka PLC has been oversubscribed on the opening day itself. The bank was to issue 20 million unsecured redeemable debentures at an issue price of Rs. 100 each. However, since the issue had received over 20 million applications for subscriptions the list had been closed at…

(0)Comments | November 5, 2014 9:09 pm

Stock Market Review – 05th Nov 2014

Colombo equities managed to regain lost grounds on Wednesday amid notable foreign inflow coupled with the positive quarterly earnings. Core index gained 37.57 index points or 0.51% to close at 7,358.46 while 20-scrip S&P SL index advanced by 15.86 index points (+0.39%) to end at 4,102.11. Price inclines in counters such as Lanka IOC (closed…

(0)Comments | November 5, 2014 5:45 pm

Sri Lanka Tourism Launches an Underground Advertising Campaign in UK

Coinciding WTM travel and trade Fair in London – UK, a special advertising campaign was launched by Sri Lanka Tourism in central London covering 25 underground stations for a period of 03 months (twelve weeks) . The campaign started off on 29th October 2014 going up to 29th January 2015 in parallel to the WTM…

(0)Comments | November 5, 2014 3:10 pm

Trade union calls off strike at Sri Lanka’s international airport

The ruling Sri Lanka Freedom Party (SLFP) affiliated trade union strike action at the Bandaranaike International Airport (BIA) has been called off following discussions with the authorities. Operations are to resume shortly. Earlier today (05 November) the trade union members resorted to a strike action claiming that several rounds of talks with the authorities on…

(0)Comments | November 5, 2014 12:58 pm

Flight disruptions at BIA owing to trade union action

The members of the Airport & Aviation Union affiliated to the ruling party at the Bandaranaike International Airport (BIA) have resorted to a strike action since this morning claiming that the relevant parties have failed to provide adequate solutions to several shortcomings within the authority. President of the union M.W.B. Muhandiram told Adaderanabiz.lk that they…

(0)Comments | November 5, 2014 11:35 am

Nishaman Karunapala of Melsta Regal appointed as Chairman of LASL

The Leasing Association of Sri Lanka Ltd (LASL) at their recent AGM appointed Nishaman Karunapala as its Chairman and Chaminda Sampath Hettiarachchi of Central Finance Co PLC as the Deputy Chairman. The LASL is the flagship organization of the leasing industry. The Association strives to promote, foster, protect and safeguard the interests of the Leasing…

(0)Comments | November 4, 2014 6:50 pm