The former government has selected local contractors for the Northern Expressway project, considered the largest such projects in Sri Lanka, not on a competitive and open basis and hence action would be taken to cancel these contracts, Deputy Minister of Highways and Investment Promotion Eran Wickramaratne told www.adaderanabiz.lk. The Minister said that when the suspended…
One year ago, Chinese Third World diplomacy was widely seen as being in crisis. Throughout Africa, Latin America and Asia, a growing number of emerging countries were expressing reluctance to be involved in relations with the Middle Kingdom based on its exploitation of their mineral resource riches. This sense of unease and even outright resistance…
Colombo equity market started the weekly operations on a mixed note where All Share index managed to maintain the positive momentum gained in the last session. Main index bagged 11.40 index points or 0.16% to close at 7,326.31 while 20-scrip S&P SL index marginally declined by 5.52 index points (-0.13%) to end at 4,127.49. Price…
The Board of Directors at Lanka Hospitals PLC, which comes under the purview of the Finance Ministry, was replaced by the new government. Venerable Theeniyawala Palitha Thera too has been included in the new 13 member Board of Directors. Thus, Lanka Hospitals PLC enters history as the first Listed Company at the Colombo Stock Exchange…
Almost all top posts at Lanka Hospitals Limited, the successor to the earlier Indian managed Apollo Hospitals at Elvitigala Mawatha in Narahenpita and coming under the purview of the Finance Ministry after the new government coming into power, has continued to see changes. In an unexpected turn off events Lakith Pieris who was the Chief…
The prominent Sri Lankan glass exporter, Chairman and Managing Director of Asoka Glass & Mirror Company Mahinda Jinasena has been appointed as Chairman of the Industrial Development Board of Sri Lanka. A Royalist and an engineer by profession, Jinasena has been appointed by Industries and Commerce Minister Rishard Bathiutheen. New IDB Chairman Mahinda Jinasena has…
Dr. Sarath Paranavithana has been appointed Chairman of Lanka Hospitals Limited, says Finance Minister Ravi Karunanayake. A 13 member Board of Directors including Chairman Dr. Paranavithana is being finalized and would be announced shortly, adds Minister Karunanayake. However, www.adaderanabiz.lk learns that Venerable Keeniyawala Palitha Thera and Dilani Lokuhetti are among the other 12 members in…
Ravi Wettasinghe was arrested by Immigration and Emigration officials this evening (20 February) at the Bandaranaike International Airport in connection with a pending case, said police spokesman SSP Ajith Rohana. Though what the pending case is not clear as yet, Ravi Wettasinghe, who was chairman of Wesco, the CTB’s Werahera central workshop after being privatized…
The Jaffna High Court this morning (20 February) allowed the Northern Power Co (Pvt) Ltd’s parent company MTD Walkers PLC’s Revision Application to restore the status quo on the illegal eviction of employees from the Chunnakkam Power Plant. Commenting on this court decision, MTD Walkers PLC Director/ CEO Lal Perera said, “This morning the Jaffna…
Colombo equities concluded the weekly activities on an optimistic note as investors reacted to positive corporate earnings and attractive dividends declared in high cap counters. Main index gained 8.74 points (+0.12%) to end at 7,314.91 while S&P SL 20 index gained 19.67 (+0.48%) to end at 4,133.01. Today’s gains were fuelled by counters such as…
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