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Sri Lanka launches third ICT survey with PwC

As ICT exports are projected to top $1Bn this year, Sri Lanka has launched the latest ICT Value Survey to find the national hi-tech exports it achieved in 2013/14-and all the ICT exporters are encouraged to actively take part in it. “We have recognized the ICT industry to be a key player in our exports….

(0)Comments | March 20, 2015 10:31 am

Sri Lanka’s government cancels USD 85 million BIA runway extension contract to Access Engineering

A decision has been taken to cancel the USD 85 million contract to Access Engineering Limited for the extension of the Katunayake International Airport runway, said Cabinet spokesman Health & Indigenous Medicine Minister Dr. Rajitha Senaratne. Minister Senaratne said during the media briefing to announce Cabinet decisions that Access Engineering did not have the required…

(0)Comments | March 19, 2015 7:36 pm

Sri Lanka’s government preparing to bring back 2 billion US dollars stashed in Dubai bank

It has been revealed that there are three accounts at the Dubai National Bank with over USD 02 billion worth of assets belonging to Sri Lankans and the government has handed over the task of getting them back to Sri Lanka to the relevant US and Indian authorities, said Cabinet spokesman and Health & Indigenous…

(0)Comments | March 19, 2015 7:19 pm

Will Chinese company get to build safety wall for Colombo Port City project?

The Chinese company engaged in reclaiming land from the sea for the Colombo Port City project has reportedly requested permission to construct a protective bund surrounding the already reclaimed land. This request is under discussion right now, said Deputy Minister for Policy Planning Dr. Harsha de Silva. The Colombo Port City project is a 100%…

(0)Comments | March 19, 2015 1:30 pm

Brussels taskforce in Colombo next week for GSP+ redux

As bilateral trade with EU crossed the $5Bn mark for the first time and after months of speculation and vibes on the coveted GSP Plus, EU announced on 18 March the actual start of the recovery process will commence right here in Colombo as early as next week-and setting the record straight on the GSP+,…

(0)Comments | March 19, 2015 1:29 pm

Media warmly welcome EU countries joining China-led Asian Infrastructure Investment Bank

The media warmly welcome France, Germany and Italy’s decision to join a China-led bank, while lashing out at the US for “obstructing” others’ participation. The three European countries have agreed to join the UK in becoming members of the Asian Infrastructure Investment Bank (AIIB), the Xinhua News Agency reports. The move comes after the US…

(0)Comments | March 19, 2015 1:49 am

Singapore Premier’s office lodges police report about fake website announcing death of Lee Kuan Yew

The Singapore Prime Minister’s Office (PMO) has lodged a police report about a fake website bearing the PMO logo and announcing the death of former Prime Minister Lee Kuan Yew, says The Strait Times of Singapore. Screenshots of the website started circulating on Wednesday night, leading some foreign media outlets to carry reports of Mr…

(0)Comments | March 18, 2015 8:37 pm

Sri Lankan Premier wants select committee to probe Stock Exchange irregularities

Prime Minister Ranil Wickremesinghe has decided that a Select Committee should be appointed to probe the alleged irregularities at the Colombo Stock Exchange since 2010. Wickremesinghe has submitted a proposal to the Secretary General of Parliament requesting that such a committee be appointed, reports Parliamentary correspondent. However, whether or not a select committee would…

(0)Comments | March 18, 2015 6:16 pm

NDB buys more into Seylan Bank

National Development Bank PLC (NDB) has purchased 14,870,573 which is 8.45 per cent ordinary voting shares of Seylan Bank PLC. Accordingly, the total holding of NDB Group in Seylan Bank PLC is now 9.53 per cent of shares.

(0)Comments | March 18, 2015 6:15 pm

Stock Market Review – 18th Mar 2015

Colombo bourse edged lower on Wednesday despite the unexpected drop in T-Bill yields. Political and economic policy uncertainties are weighing on the market sentiment as investors adopt a wait-and-see approach. The main index edged down to 7,043.90 with a loss of 13.10 points (-0.19%) while S&P SL 20 index dropped by 15.48 points or 0.38%…

(0)Comments | March 18, 2015 5:49 pm