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President’s attention towards Treasury Bond issue raising allegations: Three member committee appointed

President Maithripala Sirisena has directed that investigations be carried out into the allegations that the recent 30 year Treasury Bonds issue by the Central Bank had been carried out while enabling a certain Primary Dealer to gain capital profits. The President’s media unit states that he has ordered the President’s secretary to appoint a three-member…

(0)Comments | March 9, 2015 1:58 pm

Ranil Wickramasinghe’s interview to Thanthi TV

Sri Lanka’s political parties are united on the need for restoration of democracy in Sri Lanka, removing the executive presidency and national reconciliation, Sri Lankan Prime Minister Ranil Wickramasinghe. THANTHI TV: Thank you very much Mr. Prime Minister for agreeing to talk to us. Let me start asking about the working of the New National…

(0)Comments | March 9, 2015 12:39 pm

China asks Sri Lanka to protect interests of investors

China has urged Sri Lanka to respect bilateral agreements and business contracts, and protect the interests of its investors following the suspension of a multi- billion-US dollar project, the Chinese Embassy said on Saturday. At emergency meetings with Sri Lankan Prime Minister Ranil Wickremesinghe and Foreign Minister Mangala Samaraweera, Chinese Ambassador Yi Xianliang also asked…

(0)Comments | March 9, 2015 12:04 am

Colombo Port City Project investor CCCC clarifies

Issuing a statement dated today (07 March 2015), China Communications Construction Company Limited (CCCC) the ultimate investor in the Colombo Port City Project says the company would fully cooperate with the Sri Lankan Government and continue to adhere to the procedures and conditions stipulated in the agreement entered into with the Government of Sri Lanka,…

(0)Comments | March 7, 2015 8:18 pm

Sri Lanka’s pharmaceutical companies likely to respond to President Maithri’s medicinal drugs comment

The Sri Lanka Chamber of the Pharmaceutical Industry has reportedly convened a special meeting this evening (06 March) to discuss explaining matters to President Maithipala Sirisena on his statement in Parliament last Wednesday (04 March) that he has received information that Rs. 01 billion has been obtained from 400 companies in a bid to hide…

(0)Comments | March 6, 2015 7:57 pm

Rocket Internet Expands in Sri Lanka

Rocket Internet is expanding an online jobs platform it started in Myanmar into Sri Lanka and probably on to other countries, including Cameroon. The expansion tells you a lot about Rocket, which is a Berlin-based Internet investor and conglomerate with an increasing presence in the world of technology and emerging markets. The company went into…

(0)Comments | March 6, 2015 6:25 pm

Stock Market Review – 06th Mar 2015

Colombo bourse wrapped the weekly operations on Friday with mixed results amid the new government’s decision to suspend country’s largest foreign direct investment project, the Colombo Port City. Index moved sideways during the session where main index reached to intra-day high of 7,205.73 but closed lower. Main index shed 18.70 index points or 0.26% to…

(0)Comments | March 6, 2015 6:24 pm

Strong opportunities for UK retailers in Sri Lanka, points out British High Commissioner

The year 2014 saw a remarkable growth of 36 per cent in Sri Lanka’s exports to the United Kingdom, confirming the UK as Sri Lanka’s top export destination in Europe, points out British High Commissioner in Sri Lanka John Rankin while welcoming this growth and noted that there are continuing strong opportunities for British companies…

(0)Comments | March 6, 2015 4:53 pm

Sri Lanka keen on Indian investment

‘The government huge potential for a full-fledged Free Trade Agreement,’ says Central Bank Governor Signalling potentially closer economic ties with India, Sri Lanka has invited several top Indian companies to invest in major projects in the island nation, particularly for collaborations in the manufacturing sector. “We hope that these will be announced when the honourable…

(0)Comments | March 6, 2015 4:33 pm

Two more to Lanka Hospitals Board of Directors

Lanka Hospitals Corporation PLC has informed the Colombo Stock Exchange that it has appointed two more members to its Board of Directors already announced last Wednesday effective 03 March 2015. Accordingly, Professor Serosha Mandika Wijeratne has been appointed as a Non-Independent Executive Director and Dr. Harsha Hemal Gunasekera as an Executive Non-Independent Director effective 03…

(0)Comments | March 6, 2015 4:12 pm