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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

Lanka Hospitals appoints Tissa Nanayakkara as Deputy Chairman

Lanka Hospitals Corporation PLC has appointed Tissa Nanayakkara as an Independent Non Executive Director and its Deputy Chairman with effect from 27 March 2015. Nanayakkara is the Senior Deputy General Manager – Retail Banking at Seylan Bank and has over 35 years of experience covering a wide range of roles at several finance institutions including…

(0)Comments | March 30, 2015 3:04 pm

Cinnamon Lakeside Hotel partially closed for repairs

The Cinnamon Lakeside Hotel will be partially closed for urgent repairs from 30 March till October 2015, says Trans Asia Hotels PLC. Trans Asia Hotels PLC, the owning company of the hotel was incorporated in July 1981 as a Public Limited Liability Company and quoted on the Colombo Stock Exchange, with Insurance Corporation of Sri…

(0)Comments | March 30, 2015 2:00 pm

SME Factors Malaysia enters Sri Lanka in partnership with SME Factors Lanka

SME Factors Malaysia, one of Malaysia’s leading receivables financing houses, entered into a partnership with SME Factors Lanka Ltd. recently, aimed at expanding Sri Lanka’s SME industry. The collaboration is a result of initial discussions that took place last year between SME Factors and several Ministries and will look at imperative measures that need to…

(0)Comments | March 30, 2015 1:12 pm

Several bank heads resign, some likely to challenge Finance Ministry order

Following the resignations of Dr. Rani Jayamaha as Chairperson of Hatton National Bank and Sunil Wijesinha as National Development Bank PLC Chairman and the likelihood of more such resignations, very reliable sources indicated that the Finance Ministry has notified several private commercial bank heads who had been appointed to represent government owned shares to step…

(0)Comments | March 28, 2015 6:48 pm

Sunil Wijesinha steps down as NDB Chairman

National Development Bank PLC (NDB) Chairman Sunil Wijesinha has indicated his personal wish to step down as Chairman and has tendered his resignation with immediate effect. Sunil Wijesinghe is an accountant and senior executive who has managed and chaired a number of private and public organizations. He is chairman of the Employers’ Federation of Ceylon,…

(0)Comments | March 28, 2015 6:20 pm

Dr. Rani Jayamaha quits as HNB Chairperson

During a special meeting of the Hatton National Bank Board of Directors this evening (27 March), Chairperson Dr. Rani Jayamaha said she would voluntarily resign from her post and retire. Following her announcement, the Bank’s Non-Executive Independent Director Ms. M.A.R.C. Cooray has been appointed as HNB Chairperson. Dr. Rani Jayamaha has decided to resign from…

(0)Comments | March 27, 2015 7:37 pm

Fitch Upgrades AMW Capital Leasing and Finance to 'BBB+(lka)'

Fitch Ratings Lanka has upgraded Sri Lanka-based AMW Capital Leasing and Finance PLC’s (AMCL) National Long-Term Rating to ‘BBB+(lka)’ from ‘BB-(lka)’. The Outlook is Stable. The multiple-notch upgrade follows Fitch’s assessment of support from its 90%-parent, Associated Motorways Limited (AMW). KEY RATING DRIVERS AMCL’s rating reflects Fitch’s view that support would be forthcoming from AMW,…

(0)Comments | March 27, 2015 2:41 pm

China urges Sri Lanka to protect Chinese companies' interests

Chinese President Xi Jinping Thursday called on Sri Lanka to protect the legitimate interests of Chinese companies, expressing willingness to deepen cooperation in trade and infrastructure. Xi made the remarks during talks with Sri Lanka’s new President Maithripala Sirisena, who is paying a state visit to China and to attend the 2015 Boao Forum for…

(0)Comments | March 27, 2015 11:06 am

Gazette on super gains tax, mansion tax reach final stages

Preparation of the Gazette notifications on the ‘Super Gains Tax’ and the ‘Mansion Tax’ proposed by the new government through its interim budget are reportedly in their final stages and are to be released shortly. Very reliable sources reveal that though work on the preparation of the bill and Gazette notification on the Super Gains…

(0)Comments | March 26, 2015 11:34 pm