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Ravi K preparing Budget 2016

Finance Minister Ravi Karunanayake is planning the Budget for 2016 to achieve a five-pronged main target. Accordingly, the under mentioned objectives would be the main thrust of the upcoming budget: • Reduce the budget deficit to 5.5% of Gross National Production • To maintain the state investment level between 6 – 8% of the GDP…

(0)Comments | July 30, 2015 6:05 pm

Colombo stock indices stretch gain

Colombo stock market indices stretched the gains on Friday, as investors’ sentiment remained bullish. The Benchmark All Share Price index gained 18.08 points or 0.25% to end at 7,332.05 while S&P SL 20 index gained 13.99 points (+0.34%) to end at 4,119.07. The market ended the month of July with positive returns where the main…

(0)Comments | July 30, 2015 5:42 pm

Airtel appoints Jinesh Hegde as CEO of Sri Lanka operations

Bharti AirtelBSE 0.05 % today appointed Jinesh Hegde as Chief Executive Officer of its Sri Lanka operations. He takes on this role from Suren Goonewardene and will report to Ajai Puri, Director – Market Operations (India & South Asia), Bharti Airtel. “I am confident that his rich and diverse experience and able leadership will add…

(0)Comments | July 30, 2015 5:34 pm

Fitch Affirms Lion Brewery at 'AA-(lka)'; Outlook Stable

Fitch Ratings has affirmed Lion Brewery (Ceylon) PLC’s (Lion) National Long-Term Rating at ‘AA-(lka)’. The Outlook is Stable. The agency also affirmed Lion’s senior unsecured rating and the rating on its debentures at ‘AA-(lka)’. The National Long-Term rating takes into account Lion’s strong business profile as the leading beer producer in Sri Lanka. The rating…

(0)Comments | July 30, 2015 4:27 pm

Rights Issue by Dankotuwa Porcelain

Dankotuwa Porcelain PLC is to raise additional funds through a Rights Issue of 90,307,178 shares in proportion of five (05) new ordinary shares for every four (04) shares at Rs. 08 per share. The current stated capital of Dankotuwa Porcelain PLC is Rs. 679,644,223 represented by 72,245,742 shares. The funds thus raised would be utilized…

(0)Comments | July 30, 2015 11:31 am

Warriors owner helped Sri Lanka get Google’s Internet balloons

The entire island country of Sri Lanka could soon get free Internet beamed down from Google Loon balloons, and it might not have happened without one of the co-owners of the Golden State Warriors. Prime Minister Ranil Wickremesinghe and Google Loon executive Mike Cassidy met Tuesday in Colombo, the capital, to sign a memorandum of…

(0)Comments | July 30, 2015 11:00 am

Sri Lanka’s tallest building in Rajagiriya: Designed as tribute to cricket heroes

Shreepati Edifice (Pvt) Ltd, an Indian property development company, has entered into an agreement with the Sri Lanka Board of Investment for the construction of the island’s tallest building consisting 96 floors with an investment of USD 330 million. The unique feature is that this building has been designed while paying tribute to the Sri…

(0)Comments | July 30, 2015 8:18 am

Colombo stock close above 7,300 mark for first time in five months

Colombo bourse closed above 7,300 mark for the first time in five months as investor sentiment build up in anticipation of political stability after the parliamentary polls scheduled to be held in two weeks’ time. Benchmark index bagged 52.90 index points or 0.73% to close at 7,313.97 while 20-scrip S&P SL index retook the 4,100…

(0)Comments | July 29, 2015 5:55 pm

Whither Sri Lanka’s television industry? – Video Interview

Sanjaya Dissanayake, a one-time prominent sports journalist in Sri Lanka is currently a technical officer within the television sector in Australia. This is what he says about Sri Lanka’s television sector and its related manufacturing industries:

(0)Comments | July 29, 2015 4:31 pm

International institution on Sri Lanka’s speedy development, debt burden

Though there is political instability in Sri Lanka currently, when compared to other ordinary countries, the island nation’s economic growth is stronger, the international rating agency Moody’s has stated. However, Moody’s has stresses that Sri Lanka needs to focus strong attention on its foreign debts and budget deficit. While Moody’s has rated the Sri Lankan…

(0)Comments | July 29, 2015 3:34 pm