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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

Full speed ahead on Sri Lanka-China free trade pact

There are all likelihoods of the proposed free trade agreement between Sri Lanka and China being signed end this year and currently both countries are reportedly involved in ironing out any differences in this process. “Discussions are currently in progress between the Sri Lanka Board of Investments (BOI) and the Finance Ministry over the contents…

(0)Comments | March 15, 2014 4:31 am

Lee Hedges Investments signs USD 9.5 million agreement with BOI

Lee Hedges Investments Ltd, a subsidiary of Lee Hedges PLC has entered into an agreement with the Sri Lanka Board of Investment for a US dollar 9.5 million mixed development project on a land in Kollupitiya, disclosed the Colombo Stock Exchange. This Hedges PLC subsidiary project is to provide 112,000 sq. feet of super grade…

(0)Comments | March 14, 2014 11:52 am

Signs of reclaiming Colombo seas beginning soon

The agreement on the proposed port city on reclaimed land near the Galle Face Green in Colombo will be signed next month, says the Sri Lanka Ports Authority (SLPA) chairman. SLPA Chairman Dr. Priyath Bandhu Wickrema told AdaderanaBiz that preparations are under way to sign an agreement with China Communications Construction Company Limited (CCCC) which…

(0)Comments | March 14, 2014 8:37 am

Arpico Finance and Richard Pieris merger report wrong

Arpico Finance denied recent media reports that it is to merge with Richard Pieris, stating that discussions are being held at a very preliminary stage between several prospective parties. Recent newspaper reports indicated that Arpico Finance was to merge with Richard Pieris after which, in an announcement to the Colombo Stock Exchange, Arpico Finance categorically…

(0)Comments | March 14, 2014 8:36 am

Ultra-modern city rising soon in Kottawa

The Urban Development Authority (UDA) is preparing to construct an ultra-modern city on a 25 acre extent of land centered on the main access way to the Southern Expressway at Makumbura in Kottawa. While speaking to AdaderanaBiz, UDA Deputy Director – Planning Priyani Navaratne said that the planning stages of this new city are now…

(0)Comments | March 14, 2014 5:27 am

Massive project as Bloomfield Sports Complex

The Urban Development Authority (UDA) is preparing to implement a project adjoining the Bloomfield Grounds in Colombo under the name ‘Bloomfield Sports Complex’ which is to include a 100 room hotel. UDA chairman Nimal Perera said moves are ahead to involve a local investor in the construction of this hotel complex. “This hotel is being…

(0)Comments | March 14, 2014 4:07 am