Sarath Fonseka who was the Army Commander at the time Sri Lankan forces defeated the LTTE during may 2009 was jailed for a period of two and half years.
He was sentenced subjected to rigorous imprisonment following a Court Martial found him guilty of breaching arms procurement while on active service.
President Mahinda Rajapaksa as the Confirming [...]
September 30, 2010 8:48 PM | Posted in
Politics |
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The Colombo Stock Exchange once again performed well today with both indices making gains.
ASPI gained 0.97% to close at 6997.22 points while the MPI saw an increase of 2.79% to close the day at 7552.70 points.
According to the analysts, investor interest was on sectors such as Banks, Plantation and also the power sector which they [...]
September 30, 2010 7:30 PM | Posted in
Markets,
Stock Market |
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Starting from tomorrow, Sri Lanka will operate a Deposit Insurance Scheme to safeguard depositors in the case of a collapse of a Bank or a financial firm.
Central Bank will pump Rs. 1.1 billion for the task while licensed banks and registered finance companies will also have to make contributions on a monthly or a quarterly [...]
September 30, 2010 3:08 PM | Posted in
Economy |
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The Cabinet of Ministers has approved to amend the Employee’s Provident Fund Act to allow members to withdraw 30% out of their EPF Account to be used for housing and medical treatment.
Accordingly all EPF members will be able to withdraw 30% out of their EPF balance remaining at the time of withdrawal, even before they [...]
September 30, 2010 2:19 PM | Posted in
Other,
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The Sri Lankan based Computer manufacturer EZY launched the EZY Slim top, a computer that is half the size of a traditional computer.
The company launching the product to the market last evening in Colombo described the computer as the “world’s slimmest computer”.
The new computer which is 1 inch wide has a height of 6.7 inches [...]
September 30, 2010 1:22 PM | Posted in
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Bartleet Mallory Stockbrokers yesterday advised its clients to withdraw funds from counters trading with high multiples and invest on fundamentally healthy stocks.
Speaking to us last evening the Managing Director of BMS R. Muralidaran said that they have requested their clients to “Be on value counters wherever possible”.
He also wants investors to get advice from the Brokers [...]
September 30, 2010 7:17 AM | Posted in
Markets,
Stock Market |
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The Colombo Stock Exchange recovered today following a dip experienced during the last 2 trading days.
Keen interest was seen on Land and Property Sectors which witnessed a lull for a considerable period.
Interest was also evident towards Power, Insurance, Food and Beverage sectors.
The ASPI gained 84.13 points to stand at 6929 points while the MPI ended [...]
September 29, 2010 5:41 PM | Posted in
Markets,
Stock Market |
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September 29, 2010 5:10 PM | Posted in
Photo Gallery |
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The Standard Chartered Banks Sri Lanka branch has been assigned with strong credit ratings by RAM Ratings, mainly driven by its parent group’s credit profile.
Accordingly the RAM has assigned an “AAA” and “P1” rating respectively to both the long and short term financial institution ratings of the Bank with a stable outlook for the long-term [...]
September 29, 2010 2:35 PM | Posted in
Business & Finance |
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President Mahinda Rajapaksa returned to the Island this morning following the completion of his visit to the USA where he attended the 65th session of the UN General Assembly held in New York.
Rajapaksa during the tour had bilateral meetings with several world leaders.
Among them was the UN Secretary General Ban Ki-moon, Iranian President Mohamoud Ahmadinejad, [...]
September 29, 2010 12:25 PM | Posted in
Other,
Diplomacy |
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