Business

Govt. accepts northern highway contract lowest bid of Rs. 348 mln

Comments - 1 / views : 785
March 10, 2015 12:00 pm

        The Road Development Authority (RDA) in a newspaper advertisement on Tuesday said it has accepted the lowest bid of Rs. 348 million from contractor Edward a...


Colombo shares slightly recover from bearish momentum in early trade

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March 10, 2015 11:29 am

        Colombo equities which started weekly operations on a negative note on Monday, bounced back in early trade on Tuesday, with renewed retail interest, analysts said. ...


Kelegama appointed chairman of Singer Industries

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March 10, 2015 09:50 am

  Dr. Saman Kelegama, Executive Director – Institute of Policy Studies (IPS), is taking over as chairman of Singer Industries from April 1 from long-serving chairman Hema...


Kapila Chandrasena resigns as SriLankan Airlines CEO

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March 10, 2015 08:53 am

  Kapila Chandrasoma, CEO of SriLankan Airlines, has resigned, airline officials said. They said he had submitted his resignation on Monday. No further details were avai...


SL President orders probe into alleged fraud in Treasury bonds

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March 09, 2015 04:19 pm

   Sri Lanka President Maithripala Sirisena on Monday appointed a 3-member committee to probe allegations of wrongdoing in the issue of Treasury bonds at the Central Bank, an i...


Veteran lawyer Shibly Aziz appointed Civil Aviation Chairman

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March 09, 2015 02:41 pm

Eminent PC Shibly Aziz has been appointed Chairman of Civil Aviation Authority (CAA) and assumed office last week, officials said. Former Attorney General from 1995 to 1996, Mr. Az...


Colombo shares down amidst Port City suspension, IMF concerns

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March 09, 2015 11:48 am

  Colombo bourse started the weekly operations on Monday on a sluggish note amid the new government’s decision to suspend country’s largest foreign direct investment pr...


Sri Lankan banks provide more clarity on 15% interest rate for senior citizens deposits

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March 06, 2015 10:07 am

The Sri Lanka Banks Association on Friday provided more clarity on the 15 per cent special interest rate to deposits for senior citizens which has stirred anger and frustration. I...


Govt. request for Rs. 15 bln bond triggers ‘insider trading’ allegations

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March 06, 2015 09:34 am

  A Sri Lanka government request to the Central Bank (CB) to raise Rs. 15 billion through a bond issue for loan repayments from infrastructure projects, led to the CB accepting R...


Public comments invited over draft micro finance bill

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March 05, 2015 01:36 pm

      Public comments have been invited to a draft Micro Finance Regulation and Supervision Bill prepared by the Sri Lanka Micro Finance Practitioners' Association ...


More clarity tomorrow on 15% interest rate for senior citizens deposits

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March 05, 2015 09:30 am

    The main association representing Sri Lankan commercial banks is due to publish a newspaper advertisement tomorrow (Friday) to provide more clarity on the eligibility crite...


Interest rate furore over Central Bank bond issue

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March 04, 2015 11:08 pm

  A major furore has broken out in Colombo’s money markets after a ‘favoured’ primary dealer with high connections was seen singularly benefitting from a Central Bank...


IMF mission says Lankan one-off taxes not effective

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March 04, 2015 04:31 pm

The International Monetary Fund (IMF) is to provide technical assistance focusing on more comprehensive reforms to streamline the tax system and put country’s revenue on steady p...


Colombo shares lose in early trade

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March 04, 2015 10:51 am

Colombo stock market swung between gains and losses on early trade on Wednesday and was down marginally by 10.30 am, amid the sharp increase in Treasury yields for the fourth conse...


5 % Special Standing Deposit Facility Rate withdrawn by CB as private credit flows improve

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March 03, 2015 06:02 pm

  The Central Bank (CB) on Tuesday said it was removing the 5 per cent Special Standing Deposit Facility Rate with immediate effect (from March 2). “By end 2014, on a ...


Colombo shares end mixed amidst high scale volatility

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March 03, 2015 05:25 pm

Colombo bourse closed mixed on Tuesday after a choppy trading session, on the back of some market heavyweights gaining a little shine, analysts said. The banking sector continue...


New taxes Lankan telcos negative for the industry, Fitch says

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March 03, 2015 12:52 pm

  Sri Lankan telcos will pay one of the highest taxes among Asia-Pacific telcos as a percentage of revenue if the new budget proposals are enforced, a rating agency said on...


‘Finance Minister cheats elders’ in 15 % interest rate fiasco, says senior citizens

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March 03, 2015 09:48 am

Anger and concern over the about-turn by the Sri Lankan Government in the eligibility criteria in 15 per cent interest for senior citizens is growing, bankers and senior residents ...


Confusion, anger over restrictions in 15 % deposit rate eligibility to senior citizens

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March 02, 2015 11:31 am

  Confusion once again prevailed on Monday when senior citizens called at commercial banks to make use of the 15 per cent interest on deposits not exceeding Rs. 1 million and wer...


Colombo shares down

Comments - 0 / views : 106
February 27, 2015 03:53 pm

      Colombo equities didn’t sustain the momentum on Friday, reflecting mixed investor sentiment due to the changes in the policies taking place in the c...


15% interest rate for senior citizens’ depositors from today (Thursday)

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February 26, 2015 10:02 am

  15% interest rate for senior citizens’ depositors from today (Thursday) The 15% special interest rate for depositor senior citizens is being accepted by all Sri Lankan comme...


SEC should not be involved in promotions-SEC chief

Comments - 1 / views : 280
February 26, 2015 09:53 am

  Sri Lanka’s Securities and Exchange Commission (SEC) should not be involved in marketing and promotions, SEC Chairman Thilak Karunaratne said on Thursday. Speaking at the tr...


Private sector workers demand Rs.2500 wage hike

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February 26, 2015 09:50 am

    Private sector workers mainly from the Free Trade Zone (FTZ) held a protest on Wednesday demanding an increase in wage allowance by Rs.2500 as proposed in the i...


Colombo shares close mixed on heavy sell off

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February 25, 2015 03:15 pm

The third trading day of the week on Wednesday saw a stumble in the Colombo equities due to heavy retail investor sell off, analysts said. "This largely stemmed from the policy unc...


Sajin Vass’ COSMOS flying school gets licence extension

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February 25, 2015 01:50 pm

The COSMOS Aviation owned flying school on Wednesday was given an extension of one week for a licence to operate the flying school pending audit by the Civil Aviation Authority (CA...


Colombo shares up on returned confidence

Comments - 0 / views : 50
February 25, 2015 12:22 pm

Colombo equities gained momentum on Wednesday by noon due to the returned investor confidence, analysts said. They added that a positive outlook over the country’s economy had op...


15% special interest rate to senior citizens cleared for take off

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February 24, 2015 03:48 pm

The 15 per cent special interest to senior citizens as announced in last month’s budget on Tuesday was cleared for take-off by the Finance Ministry and will now be implemented b...


Sri Lankan shares lose ground on Tuesday

Comments - 0 / views : 68
February 24, 2015 03:33 pm

      Colombo shares lost ground on Tuesday, owing to pressure from not-so-good-results posted by listed companies and the fact that corporate taxation matt...


Lankan trade unions protest tomorrow over wage hike issue

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February 24, 2015 03:30 pm

      Private sector employees are set to protest opposite the Katunayaka Free Trade Zone (FTZ) tomorrow demanding a wage hike of Rs.2,500 for eight million workers as propos...


Current interest rates to remain, Central Bank said

Comments - 0 / views : 111
February 24, 2015 09:27 am

  The Monetary Board of the Central Bank on Tuesday, contrary to expectations from Sri Lanka’s money markets, announced that policy interest rates will remain as it is. ...




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Features & Analysis

Otara among 25 chosen personalities to name endangered baby gorillas in Rwanda

Sri Lankan entrepreneur, Otara Gunewardene was invited by the Rwandan Government as an honorary guest to name a ...

Environmentalists, conservationists gather for tropical biodiversity conference in Sri Lanka

The 12th Asia-Pacific Chapter Meeting of the Association for Tropical Biology and Conservation (ATBC) got underw...

Shakespeare Drama Competition to get underway this month

The All Island Inter-School Shakespeare Drama Competition is back for the 46th year. The competition is organize...

In Pictures: Annual congregation of the Dawoodi Bohra community

More than 20,000 people attended the annual worldwide Bohra convention being held at a community centre at ...



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