By Prasanna C. Rodrigo
On the 4th of August Sri Lanka will see the commencement of the “Nallur Festival”, which is regarded as the country’s longest religious event.
The festival organized by the historic Nallur Kandaswamy Kovil of Jaffna, will continue until the 30th of this month, thus marking 27 days of activities.
Country’s tourism authorities have highlighted [...]
July 31, 2011 3:33 PM | Posted in
Tourism |
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Sri Lanka’s state run Rupavahini Corporation has won the rights to telecast the upcoming Sri Lanka – Australia cricket series.
The state run TV which for a quite a sometime enjoyed a monopoly status of telecasting International Cricket Matches in Sri Lanka, this time had to fight with Carlton Sports Network, a newly formed sports channel.
SLRC [...]
July 30, 2011 2:08 PM | Posted in
Business & Finance |
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The outgoing Indian Foreign Secretary Nirupama Rao met the Sri Lankan President Mahinda Rajapaksa over breakfast on Saturday morning.
Rao’s meeting comes ahead of her retirement from the Foreign Service on the 31st of July.
Prior to becoming the Indian Foreign Secretary Rao has held diplomatic stints in Sri Lanka as the Indian High Commissioner and the [...]
July 30, 2011 1:15 PM | Posted in
Other,
Diplomacy |
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The Colombo Stock Exchange concluded this week’s trading with the All Share Price Index climbing by 4.7% and the MPI by 3.0%.
However, the week commenced on a dismal note with the market crashing 102 points on Monday and the upward movement begun from Tuesday.
Brokers say, the investor participation was mixed during the week.
Institutional investors have [...]
July 29, 2011 7:25 PM | Posted in
Markets,
Stock Market |
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Commercial Bank has decided to raise Rs. 2 billion via a private placement.
The Board of Directors of the Bank has given the go ahead to the plan.
Accordingly the Bank will issue rated unsubordinated listed unsecured redeemable debentures of the value of Rupees 1000 each aggregating to Rs. 2 billion.
In June this year the Bank announced [...]
July 29, 2011 6:37 PM | Posted in
Business & Finance |
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India’s Bharti Airtel has chosen its Sri Lankan unit as the best operating unit in the South Asian Region during the year 2010/2011.
Accordingly, Airtel Lanka was awarded for its achievement during a special ceremony held in Singapore recently.
Airtel Lanka had to compete with its regional counterparts in the “excellence in business deliverables” competition organized by [...]
July 29, 2011 6:02 PM | Posted in
Business & Finance |
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Sri Lanka’s year on year inflation during the month of July has increased up to 7.5% owing to price increases in the non food items.
In June the figure stood at 7.1%.
According to the Department of Census and Statistics, price rise in the areas of transport, health and housing maintenance have caused this increase.
In July 2010 [...]
July 29, 2011 3:52 PM | Posted in
Economy |
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Finco, an entity with diversified operations is planning to start up 2 luxury beach resorts in the Eastern province of Sri Lanka coming under its subsidiary Uga Chain Resorts.
One of the planned Resorts will come up in the Kuchchaveli area in Trincomalee while the other will come up in Passikudah in Batticaloa.
Kuchchaveli resort which will [...]
July 29, 2011 1:29 PM | Posted in
Tourism |
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Sri Lanka has appointed a Cabinet Sub committee to oversee the importation and distribution of Petroleum products for all purposes.
The Cabinet Sub-Committee on Power and Energy and supply and distribution of Petroleum products for all purposes comprises Ministers such as A.H.M. Fowzie, Susil Premjayantha, Champika Ranawaka, W.D.J. Seneviratne and Dilan Perera.
Finance Secretary and several other [...]
July 29, 2011 10:41 AM | Posted in
Other,
More |
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The Colombo Stock Exchange gradually picked up today following the last two days of positive trend backed by expectations that regulators will relax credit rules and also investors expectations of healthy quarterly corporate earnings.
The ASPI moved up by 2.28% while the MPI went up by 2.26%.
Renewed interest was seen on the poultry sector while most [...]
July 28, 2011 7:00 PM | Posted in
Markets,
Stock Market |
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