China rejects concerns on H'bantota
Amidst concerns by some countries that China is trying to strategically build its military presence in the South Asian region through various projects including a port in Hambantota, a Chinese official in Sri Lanka insisted that the project in Southern Sri Lanka was only for commercial purposes. [Views:127] [Thu, Feb 18, 2010] [Full Article]
Lankans can open, maintain accounts with banks abroad The Central Bank (CB) says Sri Lankans will now be allowed to open and maintain accounts with banks abroad and invest in equity or short term debt instruments in overseas companies. The Bank website also said that foreigners can invest in rupee denominated debentures issued by local companies. Foreigners on tour or business in Sri Lanka can also open Sri Lanka Rupee accounts. [Views:106] [Tue, Jan 05, 2010] [Full Article]
Vavuniya war refugees sell aid donated by NGOs Internally Displaced People (IDP) in Vavuniya have begun selling aid given to them by NGOs and other organizations to make a quick buck. The refugees, who were recently given freedom of movement from their camps, have begun to use the time to go on the streets and sell the items including clothes, utensils and other products. [Views:102] [Sun, Jan 03, 2010] [Full Article]
Stocks at CSE reach all time high Stocks at the Colombo Stock Exchange reached an all time high of 3,162 points a short while ago. Gains were led by large cap stocks like Bukit Darah, Cheveron lubricants, Carsons Cumberbatch, Keells hotels and Indo Malay. 59 stocks were up for the day while 27 were down. Turn over was 543 million. [Views:89] [Sat, Dec 19, 2009] [Full Article]
Sri Lanka records 4.2% GDP growth Sri Lankahas recorded a 4.2% Gross Domestic Product (GDP) growth rate for the 3rdquarter of 2009, The Statistic Department said today.
[Views:100] [Fri, Dec 18, 2009] [Full Article]
Refunding of Golden Key credit card depositors begins The government information department quoted the Committee of Accountants as saying that in respect to the Golden Key case the refunding of the deposits of Golden Key Credit Card holders has now begun and the cheques to this effect are now being dispatched to the depositors. [Views:126] [Fri, Dec 11, 2009] [Full Article]
Navy to purchase six fast attack craft from Israel Despite the end of the war the Navy is to purchase six more fast attack craft from Israel in January next year to strengthen the Navy capabilities, Navy Commander Vice Admiral Thissera Samarasingha told reporters in Colombo this morning. He also said the Navy has strengthened security at sea to ensure Indian fishermen do not enter Sri Lankan waters. [Views:108] [Fri, Dec 11, 2009] [Full Article]
Harry Jayawardena to start a new insurance company Distilleries Company of Sri Lanka controlled by business tycoon Harry Jayawardena said it is seeking regulator clearance to launch an insurance company with a startup capital of 500 million rupees after losing control of a former state-owned insurance company [Views:120] [Fri, Dec 11, 2009] [Full Article]
Lankan billionaire Raj Rajaratnam sells DFCC shares Sri Lankan shares ended higher Monday with trading boosted by the sale of shares in DFCC by the Galleon hedge fund of billionaire Raj Rajaratnam, facing insider dealing charges in the US, brokers said [Views:181] [Mon, Nov 30, 2009] [Full Article]
Keells to Invest $100 Million in Sri Lanka Hotels Amid Recovery John Keells Holdings Plc., Sri Lanka’s biggest diversified company, plans to invest about $100 million building new resorts to tap the economic resurgence after the end of the South Asian island’s civil war. [Views:94] [Thu, Nov 26, 2009] [Full Article]
Water, power, ports, petrol gazetted essential services Amidst moves by trade unions to cripple the water, electricity, ports and petroleum sectors in order to win their demands for a pay hike the government has decided to gazette those sectors as essential services. [Views:155] [Mon, Nov 16, 2009] [Full Article]
No fuel shortage, more fuel being unloaded- CPC The Ceylon Petroleum Corporation (CPC) says there is no fuel shortage and a cargo vessel which transported fuel to the country is currently being unloaded to the bowsers for the fuel to be transported and distributed to the respective fuel stations. [Views:143] [Mon, Nov 16, 2009] [Full Article]
Talks between trade unions and P. B. Jayasundara fail
Talks between Treasury Secretary Dr. P. B. Jayasundara and CPC trade Unions ended in failure today and the trade Unions attached to the Ceylon Petroleum Corporation (CPC), Ceylon Electricity Board (CEB), the Port Authority and Water Board said that they would go ahead with a 3 day work-to-rule camping commencing on Wednesday. [Views:155] [Tue, Nov 10, 2009] [Full Article]
Trade Unions demand a meeting with the President The petroleum, electricity, ports and water board united trade unions have sent a letter to President Mahinda Rajapakse, demanding for a meeting before the 11th of this month to discuss their salary issues and obtain a letter in writing promising to increase their wages by next year. [Views:123] [Thu, Nov 05, 2009] [Full Article]
Unions to decide next move on Wednesday as talks fail
Trade unions affiliated to the Ceylon Petroleum Corporation (CPC) said that they will meet other trade unions on Wednesday to discuss the next course of action as talks with President Mahinda Rajapaksa held today aimed at resolving a salary dispute had failed. [Views:134] [Tue, Oct 27, 2009] [Full Article]
Sri Lanka says EU trade loss won't hurt exports
The potential loss of a European Union trade concession that helped Sri Lanka boost business in its largest export market will not have an adverse impact on exporters, the island nation's central bank said on Wednesday. [Views:152] [Thu, Oct 22, 2009] [Full Article]
Emirates Telecom seeks to dominate Lankan mobile market Emirates Telecommunication Corp. (Etisalat), which bought Millicom's Sri Lankan mobile operations, said on Saturday it planned investments in the firm in an effort to dominate the Asian country's market. [Views:202] [Sat, Oct 17, 2009] [Full Article]
US - Lanka trade talks successful U.S. and Sri Lankan trade representatives held their seventh annual meeting on Thursday to discuss a Trade and Investment Framework Agreement signed in 2002. [Views:177] [Sat, Oct 17, 2009] [Full Article]
Court orders seizing of Sicille's money to repay depositors. The Supreme Court, in the Golden Key case, ordered the sizing of Rs. 259 Million from the personal accounts of Sicille Kotalawala, wife of Ceylinco Chairman Lalith Kotalawala [Views:184] [Wed, Oct 14, 2009] [Full Article]
Muthiah Muralidaran - University of Bolton Scholarships launched in Sri Lanka The University of Bolton UK launched the ‘Muthiah Muralidaran University of Bolton Scholarships’ (MMUBS) recently in Sri Lanka as a contribution towards graduate programmes undertaken by students from Sri Lanka at this university. [Views:249] [Sun, Oct 11, 2009] [Full Article]
