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Mercantile Investments wins Gold for 12th consecutive year
It was commendable for Mercantile Investments PLC to once again win the prestigious gold award in the Finance Companies Sector for the astounding 12th consecutive year at the Annual Report Award Ceremony held in December 2011, organised by the Institute of Chartered Accountants of Sri Lanka. Mercantile Investments PLC managed to secure first place despite competing with number of other finance companies in the sector. The award signifies the company’s excellence in financial reporting and thus once again establishes company’s commitment towards transparency.
Celebrating Chairmanship
Newly-appointed Chairman of Commercial Bank Dinesh Weerakkody on Friday held a private reception. The cream of the private sector as well as several other political and religious dignitaries attended
Woods’ former swing coach writes Tiger tales
REUTERS: “The Big Miss”, a book written by Tiger Woods’ former swing coach Hank Haney, will be released in March and offer a personal account of the six tumultuous years they spent together before the golfer’s life imploded in scandal.
First A380 lands at BIA for re-fuelling
An Emirates Airbus A380 aircraft on a flight from Sydney to Dubai made a scheduled landing at the Bandaranaike International Airport, Katunayake early morning yesterday for re-fuelling.
Today’s Front Page 10-01-2012
SCB checkmates cameo CB!
The Standard Chartered Bank (SCB) has opined the Central Bank’s forecast of $ 25 billion foreign inflow as “optimistic” given external headwinds whilst cautioning that pressure was mounting on the rupee given the rising import demand.
Import duty on select vehicles removed for better transport service
Consequent to the Budget 2012 proposal, Custom import duties charged on the importation of buses, lorries, trucks and new lorry engines have been completely nullified.
The Custom import duty charged in the importation of tyres used for lorries and buses has been reduced by 50%.
The Finance Ministry said yesterday that measures have been taken to repeal the Custom import duties in the importation of buses, lorries and trucks to encourage importation of buses with high standard in order to maintain a high standard of tourist and passenger services and to implement efficient transport service of goods in the country.
In addition, measures have been taken to abolish the Custom import duty charged in the importation of new lorry bodies and to reduce the Custom import duty charged in the importation of the tyres used for lorries and busses by 50%.
These taxes have been revised in terms of the proposals put forward through the Budget 2012 by President Mahinda Rajapaksa who is also Minister of Finance.
Eric appointed CEO of ERI
Top professional Eric B. Wikram-anayake has been appointed as the CEO of Envir-onmental Reso-urces Investment Plc (ERI) with effect from today.
Eric had his early education in Sri Lanka, Thailand, and Singapore and graduated from the Singapore American School in 1980.
Nihal now a member of American Bar Association
Top public interest litigant and good governance activist Nihal Sri Ameresekere has been invited and enrolled as an Associate Member of the American Bar Association.
No ‘Wonder of Asia’ at Bourse
The Colombo stock market continued its miserable run in the New Year with no iota of ‘Wonder of Asia’ mindset or optimism.
Whilst recording its fifth successive negative session, the Colombo bourse has seen Rs. 68 billion in value wiped off since the New Year and the All Share Index’ negative return topping 3% mark.
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