Samapth Bank PLC yesterday said its Rs.5 billion debenture issue was oversubscribed and the issue would close at 4.30 p.m.
Dunamis Capital PLC, an investment firm connected to the Janashakthi group, said it plans to invest Rs.200 million in a fully-owned subsidiary, namely Premier Synthetic Leather Manufacturers (Pvt.) Ltd, a Board of Investment (BoI) company, manufacturing leather and related products for the local market.
The two state-owned airlines, which share the same Chairman and CEO has reported an operating loss over Rs.16.4 billion during the first half of the financial year 2013/14 despite an increase in the passenger load factor, a Finance Ministry report showed.
Interface Inc., the world’s largest marker of modular carpets for commercial and residential applications may enter Sri Lanka with its plans to start a production facility in India, a top Interface official said.
Central Bank of Sri Lanka yesterday said there are eight distressed finance companies in the country under its off-site and on-site supervision.
Living by its credo of ‘We Care. Always.’ the National Mobile Service Provider, Sri Lanka Telecom Mobitel has introduced another life-style convenient service to its customers called ‘mCash’.
The Sri Lanka Ports Authority (SLPA) and Litro Gas Terminal Lanka (Pvt.) Limited yesterday signed a lease agreement for the liquid petroleum gas (LPG) facility of the tank farm at Magam Ruhunupura Mahinda Rajapaksa Port (MRMRP) for a period of 10 years.
LB Finance PLC, a licensed finance company yesterday said its Rs.2 billion unsecured debenture issue was oversubscribed the opening day.
Dipped Products PLC (DPL), a top glove exporter linked with the contentious water contamination issue in Rathupaswala yesterday accused authorities including the National Water Supply and Drainage Board and the Health Ministry, for failing to clear the misconception among the villagers concerning their non-involvement in water pollution that has eventually led to a halt in company operations.
Despite Sri Lanka having a rich human resource, the country is yet to harness its full potential because of its low presence in providing professional services to other international markets, according to a top Standard Chartered Bank (StanChart) executive, who operates in the Asian region.
The DFCC group has been selected as a consultant in the transformation of Home Finance Company (HFC) of Fiji, a state-owned financial institution with a limited offering of products and services.
In light of the 23rd Commonwealth Heads of Government Meeting (CHOGM) being held this week, the very first Android app developed in the history of CHOGM, titled ‘CHOGM 2013 – Sri Lanka’ is gaining quick popularity.
Making a compelling case for his controversial integrated resort (IR) project in Sri Lanka, the Australian casino mogul and the Chairman of Crown Limited, James Packer yesterday stressed the need for Sri Lanka to identify the importance of providing the right tourism offering, if the country is serious about achieving her ambitious tourism targets.
National Development Bank PLC (NDB), a development financier, yesterday announced its plans for Rs.10 billion listed debt, the largest ever debenture issue a listed company has so far announced.
President Mahinda Rajapaksa ceremoniously inaugurated the Business Forum of the Commonwealth Heads of Government Meeting at the Hotel Cinnamon Grand yesterday.
Nepal’s first Forbes billionaire yesterday called for policy consistency by governments in the region, to foster investments and become globally competitive.
Fashion Bug, one of Sri Lanka’s leading retail clothing stores with over 17 outlets island-wide, completed yet another project by donating a computer unit, under its present Social Sustainability platform titled ‘Sisu Dirimaga’.
High-end Italian restaurant chain SOHO is currently in discussions with potential local partners to set up a luxury restaurant in Colombo as early as next year, followed by a second restaurant in Galle, according to the founder owner.
With the objective of bringing together the accounting professionals of the Commonwealth countries under one common platform, Sri Lanka last week took the lead in launching the first-ever Commonwealth Association of Accountants (CAA).
The Commonwealth Business Forum (CBF) to be held from November 12 to 14 in Colombo within the ambit of CHOGM, would definitely provide the Sri Lankan businesses the prospect of harnessing new as well as expanding their existing business dealings to a greater level, a media statement by the Ceylon Chamber of Commerce (CCC) stated.
MillenniumIT, London Stock Exchange’s proprietary technology business service provider said yesterday that it has been selected by Singapore Exchange (SGX) to power the bourse’s post trade operations.
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