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International sale of USD 500 million dollar bond begins

The international sale of the latest sovereign bond has been started by Sri Lanka to recover USD 500 million, reports Bloomberg. The price guidance for this international bond which matures in five years has been set at approximately 5.5 percent. Sri Lanka sold a five year one billion dollar bond in January this year.

(0)Comments | April 7, 2014 11:18 am

Rotana Jet decides on flights to Mattala

Abu Dhabi based Rotana Jet has decided to commence flights to Mattala beginning 09 April this year. AdaderanaBiz reported earlier that the airlines is planning to begin its flights to Sri Lanka’s newest international airport. Accordingly, Rotana Jet airways will operate flights thrice a week to Sri Lanka’s Mattala and Katunayake international airports. An Airbus…

(0)Comments | April 7, 2014 10:49 am

Citrus Waskaduwa – iconic 5-star luxury resort opens on South coast

The Citrus chain stands committed to set a new benchmark in Sri Lanka’s hospitality industry Leisure PLC ceremoniously declared open its iconic five-star property Citrus Waskaduwa last evening (Sunday 06 April). The hotel is the largest to be built anew in post-war Sri Lanka on a 9.5 acre land with 150-rooms set on an un-spoilt,…

(0)Comments | April 7, 2014 6:58 am

Central Bank Governor pleased with performance of banks

The commercial banks active in Sri Lanka have reduced their interest rates to satisfactory levels, says the Governor of the Central Bank of Sri Lanka (CBSL). CBSL Governor Ajith Nivard Cabraal said this in response to the question by AdaderanaBiz whether it would be an issue if the commercial banks do not reduce their interest…

(0)Comments | April 7, 2014 4:18 am

Gold Prices Rise After Jobs Report

Gold prices rose to their highest level in more than a week Friday after data showed the U.S. created slightly fewer jobs than expected in March. The data pointed to moderate improvement in the labor market, suggesting the Federal Reserve is likely to keep interest rates near zero well into 2015. Gold for June delivery,…

(0)Comments | April 5, 2014 8:20 pm

‘Parippu’ may not be so tasty this New Year

‘Parippu’ or red lentils know to most as Dhal is known to be a favourite among Sri Lankans. However, for this New Year parippu may lose some of its taste. This is since there is a crisis ‘boiling’ within Sri Lanka’s dhal market. The import tax on finished dhal is lesser that that on whole…

(0)Comments | April 5, 2014 6:10 am

How will SLC pay USD 1.5 million to cricket team?

The executive committee of Sri Lanka Cricket (SLC) at an emergency meeting this morning has decided to pay an additional bonus of US dollars 1.5 million to the Sri Lanka cricket team if they win the championship at the ICC Twenty20 World Cup Cricket Tournament being played in Bangladesh. This includes the USD 500,000 participatory…

(0)Comments | April 4, 2014 12:27 pm

Stock Market Review

Equity market concluded weekly operations on Friday in a positive note, recording 21-month high turnover of LKR 5.04bn. Both indices closed with positive returns as All share price index advanced by 36.08 (+0.60%) points to close at 6,054.55 and S&P SL 20 index advanced by 27.60 (+0.84%) points to close at 3,323.10. Progression of share…

(0)Comments | April 4, 2014 12:12 pm

New Zealand’s Fonterra fined over botulism food scare

Dairy giant Fonterra has been fined $NZ300,000 ($256,675; £154,748) after it admitted four food-safety violations during a 2013 botulism scare. The scare led to a worldwide milk product recall and to several countries blocking imports of New Zealand dairy products. Testing later found there had been no problem with the firm’s products. Fonterra had faced…

(0)Comments | April 4, 2014 7:03 am

Katunayake Expressway bus fare reduced

The Ceylon Transport Board (CTB) bus fare on the Colombo-Katunayake Expressway has been reduced with effect from today (04 April). The earlier fare of Rs. 150 from Colombo to Negombo has been revised to Rs. 120 and from the earlier fare of Rs. 130 from Colombo to Katunayake has been reduced to Rs. 120.

(0)Comments | April 4, 2014 6:34 am