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Southern Expressway goes to Hambantota in four phases

The government has planned to divide the construction of the Southern Expressway extension from Godagama to the Hambantota harbour into four phases and hand them over to the respective contractors. Deputy Highways Minister Nirmala Kothalawala told AdaderanaBiz that the contracts could be awarded by August this year. “This section is 93 kilometres long. We are now attending to…

(0)Comments | March 19, 2014 9:58 am

Court refuses enjoining order sought over termination of Serene Pavilions CEO

The Commercial High Court today (March 19) refused an enjoining order sought by Anura Lokuhetty, restraining his termination as the CEO of the Serene Pavilions Hotel. The Commercial High Court of Colombo in December issued an interim order restraining 3 directors nominated by Mr. Anura Lokuhetty and South West Holdings Ltd, a company controlled by…

(0)Comments | March 19, 2014 8:10 am

Capital Market education compulsory for undergraduate students and commerce teachers country-wide

In a ground breaking achievement for capital market education the University Grants Commission (UGC) and the Education Ministry have approved a programme proposed by the Colombo Stock Exchange (CSE) to conduct compulsory workshops for Undergraduate Students and Commerce Teachers across the country. The introductory sessions that were held recently saw avid interest generated from the parties involved. Accordingly, workshops…

(0)Comments | March 19, 2014 4:42 am

More world’s largest aircraft over Mattala, more income for Sri Lanka

Flights of the world’s largest passenger aircraft, the A380 have increased over the Mattala international airport in Hambantota and this has contributed to an increase in earning for Sri Lanka, says the Sri Lanka Airport and Aviation Services Limited Chairman. Airport and Aviation Services Limited Chairman Prasanna Wickramasuriya told AdaderanaBiz that since the Mattala international…

(0)Comments | March 18, 2014 11:50 am

Stock Market Review

Colombo Stock market ended days’ trading on a mixed note. The ASI declined marginally by 6.47 points (-0.11%) to closed at 5,907.64 while 20-scrip S&P SL 20 index gained 1.22 points (+0.04%) to closed at 3,214.64. Price depreciations in Nestle Lanka (closed at LKR 1,900.00, -4.6%), Commercial Leasing & Finance (closed at LKR 3.80, -5.0%),…

(0)Comments | March 18, 2014 11:49 am

Eco laws tighten for Hambantota port industries

It has been revealed that the President had decided to tighten the environmental recommendations for the chosen industries to be established in the Hambantota port complex. Hence, the particular companies have to again prepare their environmental assessment reports of their projects, said Sri Lanka Ports Authority (SLPA) chairman Dr. Priyath Bandu Wickrema while speaking to…

(0)Comments | March 18, 2014 10:46 am

Sri Lanka has world’s lowest data tariffs: Anusha Palpita

Sri Lanka is the country with the lowest tariffs or rates in the world for internet data that the public normally uses as ADSL and WiFi, says Telecommunications Regulatory Commission (TRC) Director General Anusha Palpita. He told AdaderanaBiz that currently there are nearly two million internet connections in Sri Lanka and it is being targeted…

(0)Comments | March 18, 2014 3:53 am

Handagama abandons ‘crowd funding’ movie dream

Veteran Sri Lankan film maker Asoka Handagama, attempting to make his first ‘crowd funded’ film in the island, or resorting to the internet to collect funds for such a movie, told AdaderanaBiz that he has now realized he cannot raise the expected funds through such a process. He expected to raise USD 50,000 through the…

(0)Comments | March 17, 2014 10:08 am

Signs of more Initial Public Offerings this year

This year there would be more Initial Public Offerings (IPOs) made than last year within the environment created with the decrease in interest rates, believes an expert in the sector. NDB Capital Holdings Chief Executive Officer Vajira Kulatilaka told AdaderanaBiz that already some four companies are preparing to enter the stock market through his company….

(0)Comments | March 17, 2014 4:08 am

Renuke Wijayawardhane appointed Chief Operations Officer of Colombo Stock Exchange

Mr. Renuke Wijayawardhane has been appointed Chief Operations Officer (COO) of the Colombo Stock Exchange with effect from March 1, 2014 under the new strategic direction of the CSE Mr. Wijayawardhane will oversee the operations of the Trading and Market Surveillance Division, Listings and Corporate Affairs Division, Broker Supervision Division and Central Depository Systems (Pvt.)…

(0)Comments | March 17, 2014 4:07 am