The Union Bank is planning for a massive expansion, with an additional equity capital injection of Rs. 2 billion.
The Bank officials speaking to reporters in Colombo this evening said, the Rs. 2 billion will be pumped into implement its 5 year strategic plan.
Accordingly the Malaysian based multinational firm Genting Berhad, pumps in Rs.1 billion of the [...]
April 30, 2010 7:20 PM | Posted in
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Sri Lanka’s April inflation has slowed down to 5.8% compared to 6.3% recorded in March.
This is the second consecutive month; the point to point inflation has come down compared to a steady 7 month rise recorded up until February 2010.
The countries inflation which stood at 0.9% in August last year saw it rising to 6.9% [...]
April 30, 2010 5:06 PM | Posted in
Economy |
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Central Bank is planning to issue an open permission for Sri Lankan companies to take dollars out of the country to invest in overseas companies.
Accordingly the listed firms will be allowed to take US $ 500,000 per annum while non listed / Resident companies will be allowed a sum of US $ 150,000.
They will have [...]
April 30, 2010 6:45 AM | Posted in
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President Mahinda Rajapaksa met with His Majesty Jigm Kheser Namgyel Wangchuk, the King of Bhutan, at the SAARC Village today. During this meeting President Presented a Buddha Statue to the King of Bhutan. ( Pic:Sudath Silva)
April 29, 2010 4:26 PM | Posted in
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Diplomacy |
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Central bank is planning to allow tourists to open “temporary bank accounts” when they visit Sri Lanka, with no restrictions on the amount of deposits.
The move is aimed at providing the visitors with a safe option to keep their money during their stay in the country.
Tourists also can have access to ATM facilities thus enabling [...]
April 29, 2010 11:12 AM | Posted in
Business & Finance,
Tourism |
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THIMPHU, April 28 (Xinhua) — The 16th South Asian Association for Regional Cooperation (SAARC) summit kicked off on Wednesday afternoon in Bhutanese capital Thimphu.
As an outgoing SAARC Chairman, Sri Lankan President Mahinda Rajapaksa addressed the summit with the theme: “Towards a green and happy South Asia”.
Rajapaksa said that Bhutanese Prime Minister Jigmi Y. Thinley has [...]
April 28, 2010 5:20 PM | Posted in
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Diplomacy |
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The 16th SAARC summit in Bhutan is expected to commence this afternoon with the participation of leaders from 8 South Asian Nations including Sri Lanka, India and Pakistan.
The primary focus at this summit would be “Climate Change” while “Trade relationship” within the region also will feature high at the discussions along with other issues such [...]
April 28, 2010 1:16 PM | Posted in
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Diplomacy |
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UNF today demanded from the government to immediately activate the Commission for Investigating Bribery or Corruption and added that not doing so means, encouraging more bribery or corruption to take place in the country.
UNF Kalutara district parliamentarian Ajith P. Perera speaking to reporters this morning in Colombo said, as of now the “commission is closed” [...]
April 28, 2010 12:54 PM | Posted in
Politics |
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Ceylon Chamber of Commerce today kicked off a program to convert 350 local hotels into environmentally friendly entities, which will help them to reduce their carbon emissions.
The project titled as “Greening Sri Lanka hotels” will help the hotels to reduce energy cost, water usage and waste generation among several other areas of improvement.
The project funded by [...]
April 27, 2010 10:38 PM | Posted in
Business & Finance |
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Officials say, Sri Lanka’s investment to defeat the worlds most ruthless terrorist organization (LTTE) has been well managed and highly cost effective when compared with the financial cost incurred by other countries countering similar offensives.
According to the Central Bank, Sri Lanka in its final offensive against the LTTE between years 2006 to 2009 spent a [...]
April 27, 2010 3:40 PM | Posted in
Economy |
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