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International bids to be called for Kolonnawa oil pipelines

The government is to call for international bids for the tender to select a contractor who could lay the pipeline to convey fuel from the Colombo port to the fuel storage terminal at Kolonnawa. The existing pipelines are some 40 to 70 years old and need replacement. The Ceylon Petroleum Storage Terminals Limited (CPSTL) is…

(0)Comments | June 19, 2015 3:21 pm

Need more time to decide? Emirates introduces ‘Hold My Fare’

Emirates, a global connector of people, places and experiences, is now making it easier for customers in select markets including Sri Lanka to book and lock in fares while they simultaneously plan their travel itineraries for their business trips, family holidays or weekend getaways. ‘Hold My Fare’ is a new feature on www.emirates.com/lk that offers…

(0)Comments | June 19, 2015 1:49 pm

Tea Trade Honors its most Senior Member

The Colombo Tea Traders Association held a special commemoration ceremony recently to pay tribute to late Mr. Austin Perera, who was the senior most member of the Association, until his demise. Late Mr. Perera, who goes down in the history as the first Ceylonese Chairman of the Tea Traders Association, passed away on the 10th…

(0)Comments | June 19, 2015 1:38 pm

Maldivian company under BOI to invests luxury chalets in Matale

The Board of Investment of Sri Lanka granted approval to Alpha Kinam Holdings Lanka (Pvt) Ltd to set up a hotel project of 13 Eco type luxury Suites and 26 chalets in Matale. The project represents an investment of US$ 3 Million. Nichila Oya Resort and Spa hotel complex will be built on a 15.3…

(0)Comments | June 19, 2015 10:13 am

Tokyo Cement Company (Lanka) to incorporate Rs. 220 million subsidiary

Tokyo Cement Company (Lanka) Limited PLC is to incorporate a subsidiary by the name of Tokyo Super Aggregate Limited with the principal objective of operating a plant to produce manufactured sand, aggregates for concrete and such other by products. Currently, extraction of natural sand is increasingly becoming less of an option due to the lack…

(0)Comments | June 18, 2015 8:59 pm

‘Will introduce any legislation; bring in dollars to Sri Lanka’ Finance Minister urges exporters

Finance Minister Ravi Karunanayake said that he very patiently requests Sri Lankan exporters to bring back their dollars in foreign countries and invest them in Sri Lanka. The government is prepared to bring in any legislation needed for this and if these dollars are brought into Sri Lanka while foreign interest rates are less than…

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

Colombo stocks witness positive returns

Colombo equities witnessed positive returns on Thursday for the second consecutive day despite thin foreign investor activity. All Share index managed to bag 14.44 index points (+0.20%) to end at 7,064.15 while S&P SL20 index inclined by 9.57 index points or 0.24% to close at 3,924.33. Price appreciations in high cap stocks such as John…

(0)Comments | June 18, 2015 6:09 pm

SriLankan flight UL 564 experiences turbulence

SriLankan Airlines’ Colombo bound flight UL 564 from Paris experienced turbulent weather conditions over the Arabian sea, close to India and landed safely at BIA this morning. The Aircraft was an Airbus 330-200. There were 193 passengers including four infants and 16 crew members on board at the time of the incident. Five cabin crew…

(0)Comments | June 18, 2015 5:50 pm

Bank of Ceylon selects Intellect One Treasury Solution

Intellect Design Arena Ltd, a specialist in applying true Digital Technologies across Banking & Insurance, today announced that Bank of Ceylon (BOC), a leading foreign bank from Sri Lanka has chosen Intellect’s One Treasury Solution to drive end-to-end treasury management for their India operations. This is the first foreign bank in India to choose Intellect’s…

(0)Comments | June 18, 2015 5:48 pm

Government borrowings within first four months of this year

Finance Minister Ravi Karunanayake has informed the Cabinet of the amount the government has borrowed within the first four months of 2015 According to him, within the four months of this year ending 30 April the government has obtained Rs. 311.7 billion through Treasury Bonds, Rs. 83.6 billion through Treasury Bills, Rs. 113.5 billion through…

(0)Comments | June 18, 2015 3:25 pm