2 members from the Treasury and 3 members from the Sri Lanka Insurance Corporation have been appointed to the Board of Directors of the Litro Gas.
Accordingly Gamini Senarath the Chairman of the Litro Gas, Mohan De Alwis the Managing Director of the Sri Lanka Insurance Corporation and P. Kudapalugama are the ones appointed to the [...]
November 16, 2010 7:13 AM | Posted in
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Laugfs gas IPO has received a total of 59,011 applications totaling to a demand of Rs. 42 billion worth of shares.
Accordingly 33,813 applications have been forwarded by investors seeking 1.2 billion worth of Ordinary Voting Shares which runs up to total value of Rs. 28 billion.
While the IPO also saw 25,198 applications coming forward to [...]
November 15, 2010 5:06 PM | Posted in
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Sri Lanka today planted 1.1 million trees which authorities said is a new “Guinness record”.
The tree planting campaign is one out of many activities planned out during this week to mark the swearing-in ceremony of President Mahinda Rajapaksa for a second term in office.
The Swearing in ceremony will take place later this week
Chairman of the [...]
November 15, 2010 3:06 PM | Posted in
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The Sri Lankan Government today completed the acquisition of the Shell Gas Lanka Limited and its Terminal arm.
Director General of the Department of Public Enterprises Dr. B. M.S Batagoda said the deal was finalized at 12.00 noon today.
The Gas Company which is named as “Litro Gas” will be managed by the Sri Lanka Insurance Corporation which [...]
November 15, 2010 1:04 PM | Posted in
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The Government says nearly 6200 Ex-LTTE cadres who were captured or surrendered are still undergoing rehabilitation.
Minister of Rehabilitation DEW Gunasekera said they will be released in batches.
According to the Minister these cadres are given various types of training including school education.
He said among those surrendered includes persons who were involved in activities such as driving [...]
November 15, 2010 9:26 AM | Posted in
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The Sri Lankan Government is planning to prevent the usage of Mobile phones inside the country’s Prisons by blocking signals that enables communication from mobile phones.
Minister in-charge of Prison Reforms DEW Gunasekara said this step would be introduced soon thus preventing the prisoners dealing with the outside world.
According to the Minister some of the prisoners organize [...]
November 14, 2010 10:18 AM | Posted in
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Pro-democracy campaigner Aung San Suu Kyi has been released from house arrest in Burma.
The development came after military authorities removed barricades from the front of her home.
Amnesty International said she has been allowed to walk to freedom from house arrest amid massive cheers from over 1,000 supporters.
Ms Suu Kyi, 65, is reported to have told [...]
November 13, 2010 6:02 PM | Posted in
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Central Bank Governor Ajith Nivard Cabraal was a member of the Financial and Urban Leaders panel formed to discuss “Infrastructure finance” at the World Bank FT summit held Singapore on the 10th of this month.
Apart from Cabraal other members of the panel were World Bank President Robert Zoellick, India’s Minister of Road Transport and Highways [...]
November 12, 2010 4:46 PM | Posted in
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Hayleys PLC’s creditworthiness has been put under “Rating Watch Negative” by Fitch following the company acquiring the Alumex Group by using Rs. 2 billion of its holding company’s’ debt facilities.
Total purchase price for Alumex has been around Rs. 2.2 billion.
Fitch is concerned that based on the increase in the debt, Hayleys leverage rising to a level [...]
November 12, 2010 3:42 PM | Posted in
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Prasanna C. Rodrigo
A party who is willing to invest in developing the Grand Oriental Hotel needs to bring in a minimum of Rs. 1 billion says the Bank of Ceylon, which owns the Hotel.
A BOC spokesman said already potential Hotel Chains from countries like India, Thailand, United Kingdom and Australia have expressed their interest to [...]
November 12, 2010 1:43 PM | Posted in
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