Top News

Sri Lanka’s Supreme Court stays Rs. 200 million tax on liquor distilleries

The Supreme Court issued a stay order on the Gazette notification issued by the new government imposing a Rs. 200 million monthly tax on liquor and beer distilleries in Sri Lanka. Recently, the Medium Scale Distillery Employees’ Union claimed that with the new government introducing a monthly tax of Rs. 200 million on each local…

(0)Comments | March 25, 2015 2:42 pm

Sri Lanka’s sea foods, tea export earnings badly hit

Sri Lanka’s sea foods export earnings have been reportedly hit badly due to the ban imposed by the European Union on the island’s marine products exports. According to the Central Bank of Sri Lanka’s latest data, Sri Lanka’s marine product export earnings have dropped by 23.8 per cent during January 2015. Sri Lanka earning USD…

(0)Comments | March 25, 2015 2:29 pm

Developing countries see hope in Beijing-led bank

Like many Vietnamese, the economist Le Dang Doanhturns darkly suspicious when he speaks about Chinese money. Trade and investment from Vietnam’s giant northern neighbour, says Mr. Doanh, a former top adviser to the Communist Party of Vietnam, often comes with hidden military agendas, economic subterfuge and ecological traps. A case in point, he says, was…

(0)Comments | March 25, 2015 11:30 am

Odel PLC acquires 99.99 per cent of Softlogic Brands (Pvt) Limited

Odel PLC acquired 99.99 per cent of Softlogic Brands (Private) Limited for Rs. 599,995,200 from Softlogic Retail (Private) Limited and Dai-Nishi Securities (Private) Limited which are subsidiaries of Softlogic Holdings PLC. Softlogic Brands has the largest international and branded apparel and accessory portfolio in Sri Lanka and retailing 20 brands through its 41,000 sq. ft….

(0)Comments | March 24, 2015 7:50 pm

Emirates Opens a Dedicated Lounge at Los Angeles International Airport

Emirates, a global connector of people and places, today celebrated the opening of its 37th dedicated lounge for First Class and Business Class customers as well as Platinum and Gold members of Emirates Skywards, the airline’s frequent flyer program, at Los Angeles International Airport. The Emirates Lounge at Los Angeles International Airport represents a USD6.2…

(0)Comments | March 24, 2015 4:56 pm

Stock Market Review – 23rd Mar 2015

The historic coalition between the country’s two main political parties, UNP & SLFP, failed to uplift the apathetic sentiment in Colombo Bourse on Monday and the index edged lower, reversing the gains recorded in the previous session. The main share index closed at 7,042.30 with drop of 12.28 points (-0.17%) while S&P SL 20 index…

(0)Comments | March 23, 2015 6:57 pm

CSE signs consultancy agreement with BTA Consulting, UK to set up a Clearing House

The Colombo Stock Exchange (CSE) signed an agreement with BTA Consulting (BTA) of the United Kingdom to provide Consultancy and Project Management services to set up a Clearing House which will act as a Central Counterparty (CCP) for settlement of securities, including shares, corporate debt, Government Securities and any other financial market instruments transacted in…

(0)Comments | March 23, 2015 5:03 pm

Sri Lanka Tourism includes Scandinavian countries in focus market drive

The leadership of the Sri Lanka Tourism Promotions Bureau has relooked its overall portfolio of markets and has strategically selected one of the key focus areas globally- Scandinavian countries, to market Sri Lanka as a destination for travel in the future.  A high-powered Sri Lankan delegation took part at last week’s key travel and tourism…

(0)Comments | March 23, 2015 2:28 pm

New Zealand Trade Commissioner visits Chamber – wants more tie ups between Sri Lankan and Kiwi businesses

The New Zealand Trade Commissioner for New Delhi and Colombo Kevin Mckenna, recently visited the Ceylon Chamber of Commerce to discuss ways and means of exploring potential investment and trade opportunities between Sri Lanka and New Zealand. During the discussion held with Mangala Yapa, CEO / Secretary General of the Ceylon Chamber of Commerce, Mckenna…

(0)Comments | March 23, 2015 1:41 pm

GENNEXT Appoints Veteran Banker as Chairman

Rajakaruna brings with him over 40 years of varied international experience covering UK, Europe, USA, Scandinavia, South Africa and Asia all with Citibank during which period he performed several roles relating to corporate banking, risk management, finance, marketing, product management and treasury activities. With a proven track record in balancing earnings and risk, Mr. Rajakaruna…

(0)Comments | March 23, 2015 1:23 pm