Last Updated : 01-08-2014 00:13

 
 

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HSBC Lanka trims custodian services

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HSBC Sri Lanka is believed to have withdrawn from custodian banking services with the exception of high-end retail and corporate clients, as part the bank’s a global restructuring drive, Mirror Business learns.
Views: 2308

Sri Lanka cuts rate to spur growth

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Sri Lanka’s Central Bank reduced policy rates by 50 basis points to stimulate growth. Accordingly the repurchase rate will be placed at 7 percent and the reverse repurchase rate at 9 percent
Views: 1563

Priyan Fernando new Brandix Chairman

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Brandix Lanka Limited has announced the appointment of Priyan Fernando, currently a non-executive Director, as Chairman effective May 3, 2013
Views: 2949

Dialog first quarter profits at Rs.1.6bn

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Sri Lanka's leading mobile services provider, Dialog Axiata PLC has posted a net profit of Rs.1.59 billion for the first quarter of FY13 against a net loss of Rs.531 million in the same quarter of the previous year, helped by reduced financial costs and tax refunds, the interim financial accounts released to the Colombo Stock Exchange showed
Views: 1142

Ports Chairman elected IAPH Regional VP

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Sri Lanka Ports Authority (SLPA) Chairman Dr Priyath B. Wickrama has been elected the third Vice President of the International Association of Ports and Harbours (IAPH) for the period 2013-2015.
Views: 1233

Palm oil prices volatile despite high output

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The price of the world’s most-used cooking oil, palm oil, is expected to remain volatile, given the high stock levels in Malaysia and Indonesia, a top official of a leading Malaysian oil palm cultivating company stated.
Views: 2061

India's Dabur opens US $16mn Sri Lankan factory

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Dabur Lanka (Pvt) Ltd, a whollyowned subsidiary of India's leading consumer goods maker Dabur India Ltd, recently inaugurated its packaged fruit-based beverage manufacturing facility in Mirigama, Sri Lanka.
Views: 3680

Seylan 1Q net up 26% to Rs.510mn

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Seylan Bank PLC has posted a net profit of Rs.509.5 million, up by 26 percent Year-on-Year, for the first quarter of the financial year 2013, the interim financial accounts released to the Colombo Stock Exchange showed.
Views: 1139

Dialog to boost SL’s bandwidth with new submarine cable

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Dialog Axiata PLC (Dialog), Sri Lanka’s largest mobile services operator has entered into an agreement with the Bay of Bengal Gateway (BBG) consortium to land a high capacity submarine cable at a Cable Landing Station (CLS) to be located in Colombo, a statement by the company said.
Views: 2798

PLC secures 17th slot among “Top 20 Most Valuable Brands”

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People’s Leasing & Finance PLC (PLC) has scaled up from 21st to 17th among the “Top 20 Most Valuable Brands”.
Views: 1303

Sri Lanka to host first carbon neutral economic summit

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The Institute of Policy Studies (IPS) has obtained global Carbon Neutral certification for the hosting of the 6th South Asia Economic Summit in Colombo.
Views: 2283

New ADB President Nakao assumes office

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Takehiko Nakao assumed office as the ninth President of the Asian Development Bank (ADB) yesterday.
Views: 1140

JKH among top 3 holdings of Ruffer Fund in March

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John Keells Holdings (JKH) became one of the top three largest holdings in the CF Ruffer Pacific Fund during the month of March.
Views: 1259

BOC under scrutiny over capital adequacy

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The largest commercial bank in the country, state-run Bank of Ceylon (BOC) has recently come under scrutiny by multiple international rating agencies and the Central Bank over its faltering capital adequacy, Mirror Business learns.
Views: 3457

Lighthouse Hotel revenue falls 5% to Rs. 203 mn

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Revenue of Lighthouse Hotel PLC (LHL) fell 5 percent year-on-year (YoY) to Rs. 203.1 million during the quarter ended March 31, 2013 resulting in a 57.1 million net profit as against Rs. 80.3 million during the corresponding period of the previous year, interim financials released to the stock exchange showed.
Views: 1498

Ircon International completes first rail project in SL

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MPLN Peiris, Project Director of Sri Lanka Railway M P De Silva, Team Leader of CECB and S L Gupta, General Manager of Ircon International Limited, undertook the trial run on April 23. Other officers from Sri Lanka Railway, CECB and Ircon also participated in the trial run.
Views: 1905

Chevron first quarter profits rise to Rs.770 million

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Sri Lanka’s Chevron Unit said profits for the March quarter (1Q13) rose to Rs.769.8 million against Rs.661.1 million in the same quarter of the previous year, despite a drop in revenue.
Views: 1509

Jetwing in Rs.1.2 billion private placement to fund 4 hotel projects

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The Jetwing Hotels group is currently in negotiations for a Rs.1.2 billion private placement, according to Jetwing Chairman Hiran Cooray.

Views: 2297

Banks’ non-performing loans swell by a staggering Rs.18bn in 2012

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Despite the quality of the banking sector assets marginally improving in relative terms, the total volumes of nonperforming loans (NPLs) increased by as much as Rs.18 billion in 2012, according to the Central Bank Annual Report.
Views: 3345

Tea hub proposal neglected; exports under pressure: TEA

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The proposal by the Tea Exporters Association (TEA) to set up a tea hub in the country has not been taken seriously by law makers, a top official of the association stated.
Views: 1975

Micro Cars to set up US $ 20mn manufacturing plant in H’tota

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Sri Lanka’s Micro Cars Limited has entered into a US $ 20 million agreement with the Board of Investment (BoI) to set up a vehicle manufacturing and assembling plant in the Mirijjawila Export Processing Zone (EPZ) in Hambantota.
Views: 2407

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The scene of a tragedy
Saluting the alma mater
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The scene of a tragedy
Saluting the alma mater
Video: Health workers in protest march
Video: Ravana Balaya at Buddha Sasana Ministry