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Will interest rate rise in Sri Lanka? Central Bank Governor responds

The prevailing low interest rates in Sri Lanka would be long term and there are no reasons for them to increase, said the Governor of the Central Bank of Sri Lanka. Central Bank Governor Ajith Nivard Cabraal told AdaderanaBiz.lk that there are possibilities of reducing the interest rates further. Economic factors like the current low…

(0)Comments | December 3, 2014 12:18 pm

Renuka Holdings Rights issue oversubscribed

Renuka Holdings PLC’s Issue for Rs. 1.03 Bn closed on the 28th of November after being oversubscribed, attracting applications over and above the number offered under the rights. The Company offered a total of 44,517,313 ordinary voting shares at Rs. 21 each and 6,428,415 million ordinary non-voting shares at Rs. 15 in order to fund its…

(0)Comments | December 2, 2014 11:27 pm

V4 Tiger in biggest push leveraging historic FTAs

The V4 industrial economy billed as the Tetra Tiger due to its high growth, has revealed for the first time that it wants to synergise Lanka’s historic FTAs to penetrate South Asia, as informed on 27 November-and it is also readying for new bilateral efforts of high capacity across the board-in Lanka’s wheat production, energy…

(0)Comments | December 2, 2014 7:04 pm

Stock Market Review – 02nd Dec 2014

Volatility returned to Colombo bourse on Tuesday after two consecutive days of gains, as investors reacted to the developments in the political front. Market gained 34.09 points in the morning session but failed to maintain the positive momentum and declined sharply in the latter half. The main index lost 45.10 points (-0.62%) to end at…

(0)Comments | December 2, 2014 6:54 pm

Ceylon & Foreign Trades buys Colombo 14 property

Ceylon & Foreign Trades PLC has purchased the property and buildings at No. 258, Vincent Perera Mawatha in Colombo 14 for Rs. 1,015,501,066. This transaction has been made with the approval of shareholders with more than 75 per cent shares in the company.

(0)Comments | December 2, 2014 3:44 pm

IFS partners with University of Moratuwa to spark innovation and entrepreneurship

Leading global software development company, IFS announceditspartnershipwith the University of Moratuwa to establish anIFS Endowed Chair for Innovation and Entrepreneurshipat the University of Moratuwa,at a press briefing held in Colombo today.An agreement establishing thiswas signed between IFS and the University of Moratuwa in the presence of dignitaries and members of the media. The partnership marks…

(0)Comments | December 2, 2014 1:15 pm

Sri Lanka’s budding real estate industry aims to change Colombo’s skyline

Real estate in Sri Lanka has become an attractive post-war investment option attracting major foreign investment. Backed by development initiatives launched by the government and ambitious plans afoot by the private sector, its future looks promising. Foreign investors have been quick to sense this evolution with reputed multinationals such as Hong Kong’s Shangri-la, India’s Krrish…

(0)Comments | December 2, 2014 12:08 pm

Import duty on big onions increased by Rs. 15

The import duty on big onions increased from Rs. 35 to Rs. 50 with immediate effect, Minister of Cooperatives and Internal Trade Johnston Fernando said a short while ago.

(0)Comments | December 2, 2014 10:16 am

North-East rubber plantation successful amid fresh expectations –Video Interview

The Rubber Research Institute (RRI) has found that rubber could be grown as a commercial crop in the North and East and has already started pilot projects. While talking to Adaderanabiz.lk, RRI Director Dr. Gamini Seneviratne said that these plantations have been very successful. This is the discussion BIZ 24×7 of the Ada Derana 24×7…

(0)Comments | December 1, 2014 5:33 pm

Stock Market Review – 01st Dec 2014

Colombo equities managed to maintain the momentum gained on last Friday and both indices closed with notable gains.  Core index gained 121.78 index points or 1.7% to close at 7,275.68 while 20-scrip S&P SL index advanced by 69.55 index points (+1.8%) to end at 4,040.67. Shares gained across the board during today’s session and the…

(0)Comments | December 1, 2014 5:32 pm