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Lubricant leader Chevron’s new Lankan plant goes live

Sri Lanka’s largest lubricant player, Chevron Lubricants Lanka PLC kicked off operations of its new state of the art blending plant at Lindel Industrial Estate, Sapugaskanda in the presence of Colleen Cervantes (President of Chevron Lubricants) on 04 December. Minister of Industry and Commerce Rishad Bathiudeen who arrived at the inauguration event met and discussed…

(0)Comments | December 4, 2014 4:04 pm

Sri Lanka improves ranking in global Corruption Perception Index

Sri Lanka having shown progress in its ranking over last year in Transparency International’s (TI) annual global Corruption Perception Index (CPI) released yesterday is a significant feature. Sri Lanka has gained 38 points and ranks 85th among the 175 countries monitored by TI, whereas it had gained 37 points and ranked 91 last year. The…

(0)Comments | December 4, 2014 1:01 pm

Dr. Harsha Cabral at helm of Tokyo Cement (Lanka)

President’s Counsel Dr. Harsha Cabral, a senior counsel with 27 years experience specializing in the fields of Company Law, Intellectual Property Law, Commercial Arbitration and Commercial Law & International Trade Law has been appointed as Chairman of Tokyo Cement (Lanka) PLC with effect from 01 December 2014. Dr. Cabral who is a Director of 15…

(0)Comments | December 3, 2014 7:02 pm

Commercial Bank receives licence from Central Bank of Myanmar

Sri Lanka’s largest private bank seeks to emulate its success in Bangladesh with second overseas operation The Commercial Bank has become the first Sri Lankan bank to be granted a licence by the Central Bank of Myanmar to operate a Representative Office in the South East Asian republic of more than 50 million people. “We…

(0)Comments | December 3, 2014 7:00 pm

Stock Market Review – 03rd Dec 2014

Colombo bourse bounced back on Wednesday where both indices witnessed notable returns amid notable foreign activity. Core index bagged 43.85 index points or 0.61% to end at 7,274.43 while 20-scrip S&P SL index advanced by 41.79 index points or 1.04% to close at 4,066.92. Positive price increases in counters such as John Keells Holdings (closed…

(0)Comments | December 3, 2014 5:26 pm

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

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