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Kia unveils its all-new 2016 Sorento in Sri Lanka

A sporting icon, a legend and a genius came together today to launch the all-new 2016 Kia Sorento SUV in Colombo, an automotive icon in its own right, and the drive that the extraordinary trio have in common. Driven on to a stage in the packed ‘Oak Room’ at the Cinnamon Grand, Kumar Sangakkara, MuttiahMuralitharan…

(0)Comments | April 2, 2015 10:59 am

Business delegation from Shandong Province of China visited Sri Lanka

The Sri Lanka-China Business Council (SLCHBC) facilitated a business meeting with a visiting delegation from Shandong Province of the People’s Republic of China on the 27th of March 2015. This is the third such visit from a Chinese delegation this month, with visits from the China Pacific Economic Cooperation CEO Forum and the Shenyang Province…

(0)Comments | April 2, 2015 10:58 am

Stock Market Review – 01st Apr 2015

Colombo stock market continued the optimistic sentiment and started the month of April with hefty returns on Wednesday. Main index bagged 95.74 index points to witness sharp increase of 1.40% to end at 6,916.08 while 20-scrip S&P SL index gained 48.24 index points or 1.25% to close at 3,900.67. Index performance was mainly led by…

(0)Comments | April 1, 2015 5:38 pm

Trade unions write to Central Bank opposing request for Commercial Bank head's resignation

The Association of Commercial Bank Executives and the Commercial Bank branch of the Ceylon Bank Employees’ Union (CBEU), two trade unions representing nearly 80 per cent of the employees of the Bank have jointly written to the Director – Bank Supervision of the Central Bank of Sri Lanka (CBSL) expressing their concern over recent proposals…

(0)Comments | April 1, 2015 3:01 pm

Shareholders oppose removal of Commercial Bank Chairman: Vow legal action

Two trade unions of the Commercial Bank have jointly written to the Director of the Central Bank of Sri Lanka’s Bank Supervision Department to withdraw the government notice for Commercial Bank Chairman Dharma Dheerasinghe to resign and if not, the unions would resort to legal action, say reliable sources. Following recent written instructions from the…

(0)Comments | April 1, 2015 12:09 pm

Polish envoy wants Sri Lanka to buy fruits from Poland

The New Delhi based Polish Ambassador for Sri Lanka and India, His Excellency Tomaz Lukaszuk invited Sri Lanka to buy fruits from Poland, which he says does not use chemicals to increase the shelf life of the fruits, they produce. The ambassador made this request, when he held a discussion with the Sri Lanka –…

(0)Comments | April 1, 2015 12:08 pm

India’s Tata Steel pulls out of Sri Lanka’s steel business

Sri Lanka’s E.B. Creasy and Company PLC has acquired 100 per cent issued shares (2,500,000) of Lanka Special Steels Ltd from its owning company, India’s Tata Steel Ltd. for Rs. 433 million. Beginning operations in Sri Lanka in 2003, Lanka Special Steels Ltd has been engaged in the manufacture and supply of hot dipped galvanized…

(0)Comments | April 1, 2015 11:38 am

Stock Market Review – 31st Mar 2015

Colombo bourse managed to divert from the negative sentiments on Tuesday, after six consecutive sessions of losses amid drop in T-Bill Yields. The benchmark All Share Price index advanced 37.91 points or +0.56% to close at 6,820.34 while S&P SL 20 index gained 19.90 points (+0.52%) to end at 3,852.43. During the month of March…

(0)Comments | March 31, 2015 4:57 pm

Lakshman Hulugalle leaves Commercial Bank of Ceylon

Lakshman Hulugalle who was earlier the Director General of the Media Centre for National Security (MCNS) has resigned from his post of Director at Commercial Bank. His resignation is effective 31 March 2015. He does not hold any shares in the Commercial Bank of Ceylon PLC.

(0)Comments | March 31, 2015 12:16 pm

Two more NDB Directors resign

Anura Siriwardene and Sujeewa Rajapaksha who were Non Executive Directors of the National Development Bank (NDB) have tendered their resignations. The NDB has informed the Colombo Stock Exchange that these resignations are with effect from 31 March 2015. Earlier, Suni Wijesinha who was Chairman of NDB resigned and had revealed the reasons for his resignation…

(0)Comments | March 31, 2015 12:07 pm