Tokyo Cement Company (Lanka) Limited PLC is to incorporate a subsidiary by the name of Tokyo Super Aggregate Limited with the principal objective of operating a plant to produce manufactured sand, aggregates for concrete and such other by products. Currently, extraction of natural sand is increasingly becoming less of an option due to the lack…
Finance Minister Ravi Karunanayake said that he very patiently requests Sri Lankan exporters to bring back their dollars in foreign countries and invest them in Sri Lanka. The government is prepared to bring in any legislation needed for this and if these dollars are brought into Sri Lanka while foreign interest rates are less than…
Colombo equities witnessed positive returns on Thursday for the second consecutive day despite thin foreign investor activity. All Share index managed to bag 14.44 index points (+0.20%) to end at 7,064.15 while S&P SL20 index inclined by 9.57 index points or 0.24% to close at 3,924.33. Price appreciations in high cap stocks such as John…
SriLankan Airlines’ Colombo bound flight UL 564 from Paris experienced turbulent weather conditions over the Arabian sea, close to India and landed safely at BIA this morning. The Aircraft was an Airbus 330-200. There were 193 passengers including four infants and 16 crew members on board at the time of the incident. Five cabin crew…
Intellect Design Arena Ltd, a specialist in applying true Digital Technologies across Banking & Insurance, today announced that Bank of Ceylon (BOC), a leading foreign bank from Sri Lanka has chosen Intellect’s One Treasury Solution to drive end-to-end treasury management for their India operations. This is the first foreign bank in India to choose Intellect’s…
Finance Minister Ravi Karunanayake has informed the Cabinet of the amount the government has borrowed within the first four months of 2015 According to him, within the four months of this year ending 30 April the government has obtained Rs. 311.7 billion through Treasury Bonds, Rs. 83.6 billion through Treasury Bills, Rs. 113.5 billion through…
The State Counsels on Thursday (18) apprised the Court of Appeal that the government will repay up to 41 percent of the moneys deposited with the bankrupt Golden Key Credit Card Company which belonged to former Ceylinco Chairman Lalith Kotelawala. The State Counsel further informed the Court that the cabinet approval has already been granted…
If Parliamentary approval cannot be obtained for the Super Gains Tax, the Mansion Tax etc introduced by the new government’s interim budget, it could be obtained in the next parliament and hence no issues would arise over their legal aspects, said Finance Minister Ravi Karunanayake. The Finance Minister added that though these taxes have been…
Colombo shares ended on flat note on Wednesday, as the main index marginally advanced by 5.11 points or 0.07% to end at 7,049.71 while S&P SL 20 index marginally advanced by 3.70 points (+0.09%) to end at 3,914.76. Price depreciations in primary blue chips such as John Keells Holdings (closed at LKR 197.00, +2.0%), Hemas…
The Listed Debenture Issue of National Development Bank PLC was oversubscribed during the early hours of the opening day as per the disclosures made to the CSE by the Registrars to the Debenture Issue. NDB Investment Bank acted as the Financial Advisors and Managers to the Debenture Issue. The debenture issue of National Development Bank…
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