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Considering Moving Back to Sri Lanka? WorkInSriLanka Conference – Dec 23, 2014

For many years, Sri Lanka experienced a steady “brain drain”, where highly-educated professionals sought out employment and started lives overseas. However, now this trend is slowly but surely reversing with a considerable number of them returning and settling back in the island.  The end of the 30-year domestic conflict in 2009 was an obvious factor…

(0)Comments | December 9, 2014 11:32 am

Former Malaysian PM Mahathir bin Mohamad in Sri Lanka to launch several projects

Former Malaysian Prime Minister Dr. Mahathir bin Mohamad who holds the reputation of transforming Malaysia into an Economic Tiger of Asia is to arrive in Sri Lanka this evening (09 December). He is to deliver the keynote address at the Hambantota Conclave 2014 at the BMICH Sirimavo Bandaranaike Hall A and B, a forum which…

(0)Comments | December 9, 2014 11:26 am

Joe DiMaggio’s love letter to Marilyn Monroe sells for $78,000

Marilyn Monroe’s passionate love letters didn’t just mean a lot to her. They’re also worth tens of thousands of dollars apiece to the unnamed buyers who scooped them up at auction this weekend. One letter from her soon-to-be ex-husband Joe DiMaggio, the Yankee great, sold for more than $78,000, Julien’s Auctions announced. “Dear Baby —…

(0)Comments | December 9, 2014 10:52 am

Stock Market Review – 08th Dec 2014

Colombo shares started the weekly operation with a lack lasting trading session on Monday, recording a nearly 18-week low turnover of LKR 612mn. ASI dropped by 24.60 points during the morning session and bounced back in the latter part to close mere 2.55 points or 0.04% higher at 7,241.47 while 20-script S&P SL index marginally…

(0)Comments | December 8, 2014 6:32 pm

CMEC Starts $230 Million Water Supply Project in Sri Lanka

China Machinery Engineering Corporation (CMEC), a Chinese firm specializing in the construction of power projects, recently started its water supply project worth $230 million in Sri Lanka, the biggest in the history of the island’s government, according to an official’s statement on Saturday. Basil Rajapaksa, the Economic Development Minister of Sri Lanka, laid the inaugural…

(0)Comments | December 8, 2014 6:26 pm

KIA ready to introduce electric car to Sri Lanka – VIDEO INTERVIEW

KIA Motors Lanka Limited is to introduce an electric car to Sri Lanka for the first time, said the company’s Managing Director Mahen Thambiah. Interview BIZ 24X7 of the Ada Derana 24X7 Channel had with Managing Director Mahen Thambiah:

(0)Comments | December 8, 2014 1:14 pm

Fitch Assigns Abans’ Notes ‘BBB+(lka)’ Final Rating

Fitch Ratings has assigned Abans Plc’s (Abans; BBB+(lka)/Negative) senior unsecured redeemable debenture issue of up to LKR2bn a final National Long-Term rating of ‘BBB+(lka)’. The final rating is the same as the expected rating assigned on 21 November 2014, and follows the receipt of documents conforming to information already received. The debentures are rated in…

(0)Comments | December 8, 2014 12:54 pm

Japan’s third quarter recession deeper than forecasted

Japan’s economy shrank more than initially forecast in the third quarter of 2014, according to revised gross domestic product (GDP) figures. The economy contracted by 1.9% in annual terms from July to September, well above a preliminary reading of 1.6%. It also shrank 0.5% on a quarterly basis, compared to an initial estimate of 0.4%,…

(0)Comments | December 8, 2014 12:09 pm

Massive ODEL shopping mall in Sri Lanka, certain outlets to close, Battaramulla property up for sale

The Softlogic Group which recently acquired Sri Lanka’s popular fashion retail entity ODEL is to build a massive shopping complex on to replace its prime outlet at Alexendra Pace in Colombo 07 at an estimated cost of Rs. 3.5billion. Chairman of Softlogic Group as well as ODEL Chief Executive Officer and Chairman Ashok Pathirage told…

(0)Comments | December 6, 2014 10:23 am

Petrol, diesel and kerosene prices slashed

The price of petrol and diesel has been reduced by Rs 7 per litre while kerosene has been reduced by Rs 5 per litre with effect from midnight today (5), the Ceylon Petroleum Corporation (CPC) said.

(0)Comments | December 6, 2014 12:25 am