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Continuing islandwide commemorations to mark the 10th anniversary of its operations in Sri Lanka, Lanka IOC recently launched a massive tree planting campaign at the Bio Diversity Park behind the Parliament at Sri Jayawardenepura Kotte. Present on the occasion were B.M.U.D. Basnayake, Secretary, Ministry of Environment, Tilak Collure, Chairman, Ceylon Petroleum Corporation, Subodh Dakwale, Managin...
Reuters: The Federal Reserve launched another aggressive stimulus program on Thursday, saying it would pump $40 billion into the US economy each month until it saw a sustained upturn in the weak jobs market. The central bank’s decision to tie its controversial bond buying directly to economic conditions was an unprecedented step that marked a ...
The place isn’t a paradise for minorities but the economy is recovering By Sam Baker Asuasentinel.com: The Government of Mahinda Rajapaksa in Sri Lanka has probably botched its dealings with the United States, the European Union and the United Nations. Still, the disenchantment with Colombo may be overblown three years after the end of the ...
By Saman Gunadasa World Socialist Web Site: A scandal over the manipulation of shares on the Colombo Stock Exchange has erupted in recent weeks, after former Sri Lankan Securities Exchange Commission (SEC) Chairman Thilak Karunaratne accused Government ministers of acting in league with speculators. Karunaratne was pressured by President Mahinda Rajapaksa to quit his position, ...
With the view of unveiling the hidden talents of the team members, Sampath Bank has made arrangements to launch andlsquo;Sampath Tharu 2012andrsquo; andndash; a talent show on Saturday, 15 September, 2012 at Nelum Pokuna Theatre from 2 p.m. and 7 p.m.
Hatton National Bank launched the HNB VISA Infinite and Signature credit cards at a glittering launch ceremony recently at the Colombo Hilton. The exclusive launch event saw the merging of two eras with the synchronizing of a medieval style Egyptian theme and a modern New York City Fifth Avenue theme.
Continuing its growth momentum, Orient Finance PLC adds yet another milestone, with the opening of its doors to the acceptance of fixed deposits, subsequent to being licensed by the Monetary Board of the Central Bank of Sri Lanka under the Finance Business Act No 42 of 2011 as a Finance Company.
In order to create long term economic stability, the creation of incremental wealth is imperative, Hatton National Bank former Managing Director and Chief Executive Officer Rienzie Wijetilleke said.
Secretary Defence and Urban Development Gotabaya Rajapaksa yesterday laid the foundation stone for a new multi storeyed car park at the Central Bank premises. The secretary also unveiled a commemorative plaque. The Secretary was received by the Governor of the Central Bank of Sri Lanka Ajith Nivard Cabraal up on his arrival at the venue. ...
Top professional banker and HNB’s CEO Rajendra Theagarajah has been appointed to the Board of Carson Cumberbatch Plc as a Non Executive/Independent Director with effect from Wednesday. Following the latest appointment, the Board of Directors of Carson’s comprises Tilak De Zoysa (Chairman), H. Selvanathan (Deputy Chairman), Mano Selvanathan, Israel Paulraj, Chaminda Gunawardana, Suresh ...
Sampath Bank is going for a listed debenture issue of Rs. 2.5 billion. It plans to issue 15 million unsecured subordinated redeemable debentures at Rs. 100 each, with an option to issue a further 10 million debentures in the event the initial value is oversubscribed. The Colombo Stock Exchange has approved in principle Sampath Bank’s ...
By Uditha Jayasinghe Pushing ahead with Hambantota development, the Government yesterday announced plans to build an infrastructure hub in the town for Rs. 40 billion, with 85% funding from China. China’s Exim Bank is financing the construction of flyovers and roads in the southern town of Hambantota with the aim of making it a transport ...
Gain in Bourse’s collective value tops Rs. 400 b since year-to-date lowest level in early June Market cap short of Rs. 400 b to hit all-time-high figure of Rs. 2.6 trillion achieved on 2011 Valentine’s Day Demand for blue chips spearhead yesterday’s rally, joining retail-favoured second tier stocks ASI’s YTD dip now below 5% from 22% ...
Despite a reversal in the rate of exports decline and evidence of some improvement, Sri Lanka is actively moving to help its exporters to face the global downturn, with a challenging new $ 12 b export goal set for 2102. “Since you, the distinguished exporters, who account for nearly 80 per cent of Sri Lanka’s ...
The biggest savings bank in Malaysia, Bank Simpanan Nasional (BSN), says through higher loan revenues and increased community banking activities, they expect a 25% growth in profitability during 2012. This State-owned bank, which is targeting a net income of RM 1.3 billion, commenced expansion of its infrastructure with innovative delivery channels by introducing branchless banker ...
Continuing in its commitment towards strengthening and adding value for customers, Nations Trust Bank PLC recently opened its seventh Foreign Exchange Service Branch at Traveller Global Pvt Ltd. in Kandy. The new foreign exchange branch is strategically located at a central and convenient point in the heart of Kandy and offers customers, sales and encashment ...
Reuters: Europe moved a step closer to a banking union on Wednesday with a plan for the European Central Bank to supervise all euro zone banks, a cornerstone of closer fiscal integration designed to end years of financial turmoil in the region. European Commission President Jose Manuel Barroso outlined the proposal in his annual “state ...
Commercial Bank of Ceylon has launched a programme in collaboration with the Central Bank of Sri Lanka to enhance entrepreneurship skills in the Small and Medium Scale Enterprise (SME) sector. The first seminar of this programme was held recently for entrepreneurs who are in the SME and Micro Enterprise sectors in Nuwara Eliya. Officials of ...
HNB Assurance has announced the appointment of marketing professional Dilshan Perera as the company’s new Head of Marketing. As Head of Marketing at HNB Assurance, Perera will focus on enhancing marketing communications and customer relations strategies in streamlining the company’s efforts to connect with its stakeholders better, the announcement said. Perera brings a wealth .....
The Human Resources Research Program of Lirneasia has prepared and published a directory named “CHOICES – Higher Education Opportunities after A/Levels”. This directory gives out results of one of its researches, Lirneasia plans to carry out several in-depth researches into higher education field of subject. Lirneasia plans to make the directory available at major super ...
The global escalation of commodity prices in the latter part of last decade impacted Sri Lanka’s rice market, with retail prices showing sharp increases for the consumer. The regulatory forces with a ceiling on consumer prices and guaranteed price for paddy did alleviate this problem to some extent. Today it has taken a different turn ...
Reuters: Germany’s Constitutional Court gave a green light on Wednesday for the country to ratify the euro zone’s new bailout fund and budget pact, but insisted the German parliament have veto powers over any future increases in the size of the fund. The eagerly awaited verdict boosted global stocks and the euro currency as investors ...
The main Opposition UNP yesterday warned that worsening exports among other issues would result in the Government resorting to higher taxation. “As Sri Lanka’s exports continue to decline, the Government would have no choice but to increase taxes,” UNP MP Dr. Harsha de Silva told a press conference yesterday. “The Central Bank has attempted to ...
The Colombo Bourse bounced back sharply yesterday, energised by a fresh round of buying interest in both blue chips as well as second tier stocks. The manner in which the Colombo Stock Exchange has been behaving of late – continuous foreign and institutional buying on blue chips and active play by retailers on low-value stocks ...
The country’s export sector has recorded mixed fortunes, suffering its worst decline year-on-year whilst month-on-month manages to recover, as per latest external trade data released by the Central Bank yesterday. Marking the fifth consecutive dip YOY, the contraction in exports in July at 17.4% to $ 794.4 million was the worst in recent times though ...
By Uditha Jayasinghe The Opposition yesterday called on the Government to promote economic good governance and complete investigations into the controversial deal between National Savings Bank (NSB) and The Finance Company (TFC). UNP MP and top economist Dr. Harsha de Silva at a press conference criticised the Government’s handling of the economy and insisted that ...
The Central Bank yesterday said earnings from tourism and workers’ remittances continued to hold up, cushioning the current account of the Balance of Payments (BOP). It said earnings from tourism in July 2012 grew by 23.6%, year-on-year, to $ 100 million, while during the first seven months of 2012, earnings from tourism have grown at ...
The first monthly draw of the ‘Save and Be a Winner Twice Over’ was held recently at the Country Office of MCB Bank Sri Lanka located in Colombo 01 where the winners for the month of July 2012 were announced. The event was graced by Seema Ilahi Baloch, The High Commissioner of Pakistan in Sri ...
Continuing its growth momentum, Orient Finance PLC added yet another milestone with the opening of its doors to the acceptance of fixed deposits. This is subsequent to the company being licensed by the Monetary Board of the Central Bank of Sri Lanka under the Finance Business Act No. 42 of 2011 as a Finance Company. ...
Hatton National Bank launched the HNB VISA Infinite and Signature credit cards at a glittering launch ceremony recently at the Colombo Hilton. The exclusive launch event saw the merging of two eras with the synchronising of a medieval style Egyptian theme and a modern New York City Fifth Avenue theme. Both themes engulfed the opulent ...