By Jithendra Antonio Sri Lanka’s national telco operator Sri Lanka Telecom PLC (SLT)  said it has entered in to an out of Court Settlement of Rs. 673,304,619 for Just in Time Holdings (Pvt) Ltd. (JITHPL) and to withdraw the Civil Litigation case related to supplying of IPTV for Broad Band services. Accordingly in a disclosure to Colombo Stock Exchange (CSE) ...

Market closed at a two month high with Colombo Stock Exchange’s (CSE) turnover topping Rs 700 million mark. Counters Cargills, Bukit Darah and Ceylon Tea Services saw price gains which moved up the indices whilst high net worth interest seen in banks uplifted the banking sector. Institutional interest was evident in Seylan Bank and Royal Ceramics while Lanka IOC witnessed ...

By Jithendra Antonio The largest food company in the world measured by revenues, Swiss multinational food and beverage giant Nestle’s Sri Lankan subsidiary Nestle Lanka PLC has contributed almost Rs. 5 billion to the rural economy via procurement of fresh milk and coconut in 2013. According to the latest annual report of the company Nestle Lanka PLC (NEST) Managing Director ...

By Jithendra Antonio Colombo Stock Exchange (CSE) on Friday (April 11) said that Sinhaputhra Finance PLC’s Non-Voting, Non-Cumulative, Non-Redeemable Preference Shares will commence trading from 21st April 2014 and that the shares will be  listed on Diri Savi Board. Accordingly company’s shares will trade under the code ‘SFL-P-0000′ and a total of  670,765 shares will be listed by way of ...

Sri Lanka’s leading ship builder, Colombo Dockyard has appointed Ranil Wijewardena as its new Managing Director/CEO. Onomichi Dockyard Co., Ltd, the major shareholder of Colombo Dockyard nominated Wijegunawardena, who was at the time General Manager (Finance)as the new MD/CEO following the retirement of Mangala Prema Banda  Yapa Yapa who was a nominee director of Onomichi Dockyard Co., Ltd, of Japan ...

By Jithendra Antonio Cargo Boat Development PLC (CABO) said that it had disposed its property at No.29, Bay Brooke Place, Colombo 2 to CABO’s parent shareholder Renuka group’s subsidiary Renuka Land (Pvt) Ltd. In a filing to Colombo Stock Exchange (CSE) the company said that the property was disposed on 10th April 2014 to Renuka Land (Pvt) Ltd for Rs. ...

About a year back, we predicted that the new electricity tariff will shock people into changing behavior: “the currently proposed tariff structure will create “bill shock” among consumers, and nudge a certain percentage of consumers to voluntarily reduce demand. But this will be insufficient.” The evidence is in. It has happened. The 2013 Sri Lanka Central Bank Report states: Electricity ...

By Jithendra Antonio Central Bank’s Monetary Board managed country’s largest private sector pension fund Employees Provident Fund (EPF) has increased its stake to 10% of the issued share capital of Central Finance PLC (CFIN) Accordingly in a filing to Colombo Stock Exchange (CSE) EPF said that on 9th April its stake exceeded the 10% of the issued capital of CFIN. ...

Sri Lanka – Benelux Business Council launches its website Sri Lanka – Benelux Business Council launched its website, www.benelux.lk on Wednesday evening, during the council`s members networking evening. H.E. Louis W.M. Piet, Ambassador of Kingdom of the Netherlands and Mr. Jayantha Panabokke the president of Sri Lanka – Benelux Counci, greets each other. The website was launched by H.E. Louis W.M. Piet, Ambassador of Kingdom of the Netherlands in ...

SLSBC MEETS SINGAPORE FOREIGN MINISTER The members of the committee of the Sri Lanka Singapore Business Council recently met with the Hon. K. Shanmugam, Minister of Foreign Affairs and Minister of Law of Singapore Seated (L-R) Mr. B. C. Tan of Prima Group, Mr. Karan Singh Thakral, Singapore’s High Commissioner to Sri Lanka, Mr. Shamil Mendis, President of SLSBC, Hon. K. Shanmugam, Minister of Foreign ...

A Specialized  Marketing Mission on Construction and Related Services from Malaysia will visit Sri Lanka, right after the new year. The mission organised by Malaysia’s External Trade Development Corporation (MATRADE) and facilitated by the Sri Lanka – Malaysia Business Council of The Ceylon Chamber of Commerce arrives in Sri Lanka to explore business opportunities in the country. The délégation led ...

CEAT celebrates market leadership with glitzy awards gala CEAT’s achievement of overall leadership of Sri Lanka’s tyre market in the Bias as well as Radial categories was celebrated in characteristic style when the top tyre brand hosted 125 of its best dealers in Sri Lanka and their families at a spectacular awards gala on Saturday 5th April. CEAT’s top 10 dealers with senior management of CEAT Kelani Holdings. ...

New BOI Company manufacturing Chemicals to be set up at Biyagama Zone BOI signed an agreement with S & D Chemicals (Pvt) Ltd., a Company specialized in the manufacturing of Industrial chemicals used in the textile industry as well as polymers for textile processing, coatings and water treatment operations. Mr Dayantha de Silva, Managing Director of S & D Associates formally receives the BOI Certificate of Registration from Dr Lakshman Jayaweera, Chairamn ...

National Development Bank PLC has divested its 35% stake in Maldives Finance Leasing Company (Pvt.) Ltd. to Company to Tree Top Investments (Pvt) Ltd, another Maldivian company for a consideration of USD 1,105263.16, NDB in a disclosure to the Colombo Stock Exchange (CSE) said. Maldives Finance Leasing Company Private Limited was set up in 2001 and commenced operations in June ...

Illusory Economy versus the Real Economy of Sri Lanka Editors note: Read the original article by the Governor of the Central Bank of Sri Lanka on Forbes.com or as a PDF here. Photo by Dinuka Liyanawatte/REUTERS, courtesy the Curionimist. ### A Rejoinder to the Governor of the Central Bank of Sri Lanka The Governor of the Central Bank of Sri Lanka (CBSL) has penned a compelling article entitled “Practical, not Conventional, ...

Lenovo’s budget tabs A7-30, A7-50, A8 New Lenovo tab series people who are looking for cheapest tabs on the market this is the right products The Tab A7-30, A7-50, A8 and A10 all have Dolby audio that should improve your small-screen movie experience. Running OS android and all devices powered by quad core Processor . A7 30 7″ display tab, A7 50 with HD screen and 2mp front cam. ...

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