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Serene Pavilions Wadduwa stakeholders reach settlement

The stakeholders of Serene Pavilions Hotel in Wadduwa have succeeded in reaching a settlement over the hotel’s shareholdings issue. Accordingly, Anura Lokuhetti who owned 30 per cent shares in this hotel sold all his shareholdings to two other shareholders, Sumith Guruge and Jit Warnakulasuriya, said Sumith Guruge. Sumith Guruge further added that following this sale…

(0)Comments | May 27, 2015 3:42 pm

Hyundai offers Google Android Auto system in cars

South Korea’s Hyundai has become the first carmaker to offer Google’s Android Auto system in its Sonata model. Android smartphone users with a 2015 Sonata sedan can now ask car dealers to download the system for free if they have a vehicle with navigation. It connects to the driver’s smartphone and allows them to access…

(0)Comments | May 27, 2015 2:16 pm

Sun Siyam developing over water villa resort in Kalpitiya

The Chairman and Managing Director of Sun Siyam, Mr Ahmed Siyam Mohamed, recently announced bold new plans to expand his luxury hospitality brand in the Maldives and beyond. In aspeech at the HICIO conference in Colombo, Sri Lanka that focussed on the challenges and opportunities for developing in the Maldives and taking Maldivian brands abroad,…

(0)Comments | May 27, 2015 2:01 pm

Trade industry bodies meet to review progress of ‘Customs 24×7 operation’

The Import Section of the Ceylon Chamber of Commerce is planning to line up relevant associations heads and industry experts engaged in the ‘trade’ to review the progress of ‘Customs 24×7 Operation’ and discuss ways and means of making maximum usage of the available facilities to ensure an efficient operation. Accordingly, a forum will be…

(0)Comments | May 26, 2015 7:57 pm

Sri Lanka shippers concerned over Customs chief sudden resignation

The Sri Lanka Shippers’ Council has expressed its concern over the sudden resignation of the Director General of Sri Lanka Customs.  Ina media release, the Council states, “It is with great regret that we have noted the sudden resignation of the Director General of Sri Lanka Customs. Mr. Jagath P. Wijeweera has been one of…

(0)Comments | May 26, 2015 6:58 pm

Colombo stocks conclude on a negative note

Colombo bourse concluded the session on a negative note on Tuesday amid profit taking in selected stocks. The positive momentum in the morning session faltered in the mid-day pulling the index down to 7,261.78, with a drop of 22.98 points (-0.3%) while the S&P SL 20 index lost 16.01 points (-0.4%) to close at 4,037.81….

(0)Comments | May 26, 2015 5:30 pm

CDS signs MoU with NSDL India

The Central Depository System (Pvt) Ltd (CDS), a fully owned subsidiary of the Colombo Stock Exchange (CSE) signed a Memorandum of Understanding (MoU) with the National Securities Depository (Pvt) Ltd of India (NSDL), for the purpose of knowledge sharing in the area of depository services. The NDSL was the first and is the largest depository…

(0)Comments | May 26, 2015 5:18 pm

Sri Lanka parliament launches new inquiry into government bond deal

Sri Lanka’s parliament will launch a new inquiry into a controversial government bond deal after the main opposition party said an initial investigation that cleared the central bank chief of any direct role was not independent. The opposition United People’s Freedom Party (UPFA), which has a majority of seats in parliament, has alleged corruption in…

(0)Comments | May 26, 2015 12:45 pm

United Motors Lanka property value increases on revaluation

The Board of Directors of United Motors Lanka PLC approved a report dated 22 May 2015 on the lands and owned and occupied by the company. The properties on which the report has mentioned are the ones at Hyde Park Corner, Colombo 02, Majeed Place, Orugodawatte, Vauxhall Street, Colombo 02, Maligawa Road, Ratmalana and Kandy…

(0)Comments | May 26, 2015 11:34 am

Sri Lanka's government revenue up; Customs chief resigns

Government revenue within the first three months when compared to the same period last year has grown by 08 per cent, said Finance Minister Ravi Karunanayake. Meanwhile, speaking to the media he said that Sri Lanka Customs chief Jagath P. Wijeweera had resigned due to personal reasons and that the government has accepted his resignation….

(0)Comments | May 26, 2015 3:36 am