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Toyota i-Road Car-Sharing Program Expands to Grenoble in October

Toyota started testing it’s new i-Road ultra light EV in Japan about two months ago, to see if it will adapt to real traffic conditions. It seems they succeeded because the project is now expanding to Europe, with Grenoble being the first city to support this sort of car-charing program. Grenoble, France, is known for…

(0)Comments | July 1, 2014 5:22 pm

Pictorial warnings on cigarette packs takes more time

Following an undertaking to the Supreme Court by Health Minister Maithripala Sirisena that the order to carry pictorial warnings on cigarette packs, Ceylon Tobacco Company has said that cigarettes would be released to the market in the current packing without the pictorial warnings till the Supreme Court gives its decision on 11 July 2014. The…

(0)Comments | July 1, 2014 12:28 pm

Nihal Kekulawala resigns from Pan Asia Bank

Pan Asia Bank Director Joseph Dacius Nihal Kekulawala has resigned from his position from the bank’s board of directors with effect from 30 June, 2014. The interest of shares of Pan Asia Banking Corporation PLC held by J.D. Nihal Kekulawala is nil.

(0)Comments | July 1, 2014 12:10 pm

Financial Sector Consolidation Update – June 2014

The consolidation process had made progress as planned, and during June 2014, almost all banks and finance and leasing companies (NBFIs) had finalized their consolidation plans and submitted their proposed merger/acquisition plans to the Central Bank. These plans will now be reviewed by the Central Bank with a view to facilitating the respective companies to…

(0)Comments | July 1, 2014 12:04 pm

Stock Market Review – 30th June 2014

Colombo shares retained the momentum gained in last week and began the weekly operations with positive returns. Benchmark All Share Price index inclined by 15.13 points (+0.24%) to end at 6,378.62 while S&P SL 20 index inclined by 13.58 points (+0.39%) to end at 3,534.43. Price progression in counter such as Ceylon Tobacco (closed at…

(0)Comments | June 30, 2014 5:34 pm

SLT subsidiary in Hong Kong liquidated

SLT Hong Kong Limited, a fully owned subsidiary company of Sri Lanka Telecom PLC has been liquidated. The liquidation has been from 18th May 2014.

(0)Comments | June 30, 2014 5:09 pm

Sri Lanka’s latest inflation facts

While compared to June this year against June of last year, Sri Lanka’s inflation is 2.8 percent according to the Colombo Consumers’ Price Index, says the Department of Census and Statistics. According to the Colombo Consumers’ Price Index the inflation rate was 3.2 percent in May 2014. Treasury Secretary Dr. P.B. Jayasundera said last Friday…

(0)Comments | June 30, 2014 5:08 pm

EXCLUSIVE: Issue over 20,000 metric tons of furnace oil from Abu Dhabi

An issue has arisen about the quality of 20,000 metric tons of furnace oil imported from Abu Dhabi for the use of privately owned power generating plants. When AdaderanaBiz.lk inquired from Ceylon Petroleum Corporation (CPC) chairman Sirisena Amarasekera, he said the discussions were being held with the private power generation plant owners regarding the quality…

(0)Comments | June 30, 2014 11:35 am

How to protect your smartphone data from your boss

There’s been plenty of commentary on the risks of bring-your-own tech devices to enterprise, but not much consideration of how employees can lose out when they use their own smartphone, tablet or notebook in their employer’s cause. We took a phone call this week that highlighted the need for protection on both sides of the…

(0)Comments | June 30, 2014 11:19 am

Merchant Bank amalgamation confirmed

The amalgamation of Sri Lanka Merchant Bank (MBSL), MBSL Savings Bank (MSB) and MCSL Financial Services has received the approval of the respective boards of directors. While announcing this, MBSL chairman M.R. Shah said only the Sri Lanka Merchant Bank (MBSL) would remain as an institution after the amalgamation. This amalgamation would be effective from…

(0)Comments | June 27, 2014 3:54 pm