Today’s Front Page 28-03-2013

Published : 12:27 am  March 28, 2013  |  Category: PRINT PAPER  |  Leave a Comment  |  1,222 views  |  
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Casino kingpin Kerry Packer Jr. in town again

Published : 12:25 am  March 28, 2013  |  Category: TOP STORY  |  Leave a Comment  |  2,732 views  |  

Casino kingpin and billionaire James Packer is in town again for a second time, to firm up what would be Sri Lanka’s single largest gaming venture along with a resort in Fort. James Packer, whose father is the media mogul Kerry Packer, was in town in mid-February as part of initial talks with officials. At that time he met with Economic Development Minister Basil Rajapaksa as well as Treasury Secretary Dr. P.B. Jayasundera.  Read More →

Ravi Wijeratne appointed to Board of SMB Leasing

Published : 12:24 am  March 28, 2013  |  Category: Front Page  |  1 Comment  |  7,121 views  |  

Business tycoon and shareholder Ravi Wijeratne has been appointed to the Board of Directors of SMB Leasing Plc. The appointment was effective from 8 March 2013, whilst the Central Bank had approved the move in January.Ravi holds 16.35% stake in SMB (up from 11% in 2011) whilst Dr. Senthilverl is the largest shareholder with a control of 22%. For the 12 months ended on 31 December 2012, SMB reported a after tax profit of Rs. 62.4 million, up from Rs 0.1 million in the previous year. Operating profit before associate company profits amounted to Rs. 70.4 million, as against a loss of Rs. 12.6 million in 2011.  Read More →

Top Chinese delegation in town

Published : 12:24 am  March 28, 2013  |  Category: Front Page  |  Leave a Comment  |  869 views  |  

First since new Premier Li Keqiang’s ascension Led by Yunnan Vice Governor Shaoxiang Bilateral trade tops $ 2.6 billion As bilateral trade volumes between the historic trade partners topped $ 2.67 b in 2012, a high-level trade delegation from China arrived in town yesterday.  Read More →

India grants greater market access for Lankan apparel, processed meat

Published : 12:23 am  March 28, 2013  |  Category: Front Page  |  Leave a Comment  |  1,367 views  |  

India yesterday announced greater market access for Sri Lanka apparel and processed meat products in a move that is likely to give fresh impetus to boost bilateral trade. Sri Lankan textiles exports in the future would attract a duty of 5%, as against the earlier 11%. “This is another step that will facilitate greater Sri Lankan exports of readymade garments to the Indian market,” the Indian High Commission said yesterday.  Read More →

Melco Crown to raise $ 400 m via shares for Manila casino

Published : 12:23 am  March 28, 2013  |  Category: Front Page  |  Leave a Comment  |  1,348 views  |  

Melco Crown (Philippines) Resorts Corp, the Philippines unit of Macau’s Melco Crown Entertainment Ltd., plans to raise up to US$ 400 million (MOP 3.2 billion) from a fresh equity offering to fund part of the operator’s investment in its Manila casino. In a disclosure to the Philippine Stock Exchange, Melco Crown said it planned to raise funds from the sale of up to a billion common shares of the company with an option to upsize by up to 20%.    Read More →

SriLankan Cargo carries first shipment from MRIA to Chennai

Published : 12:23 am  March 28, 2013  |  Category: Front Page  |  Leave a Comment  |  967 views  |  

Commencing cargo operations from the Mattala Rajapaksa International Airport (MRIA), SriLankan Airlines’ cargo operations’ has taken over the first shipment to Chennai from its long-standing, top agent ExpoLanka Freight. The shipment contained garment accessories, weighing 900kg.  Read More →

CID to probe Rs. 39 m fraud at Deyata Kirula

Published : 12:22 am  March 28, 2013  |  Category: Front Page  |  6 Comments  |  2,379 views  |  

By Lakmal Sooriyagoda The Criminal Investigation Department (CID) had begun an investigation against the Chief Executive Officer at the secretarial office of the Deyata Kirula National Exhibition 2013 for allegedly cheating and misappropriating an amount of Rs. 39 million, contravening proper tender procedure. Secretary to the Ministry of Telecommunication and Information Technology H.M. Gunasekara had lodged a complaint with the CID regarding this alleged misappropriation valued at Rs. 39 million on 21 February 2013.  Read More →

Online petition to halt harassment of minorities gathers steam

Published : 12:22 am  March 28, 2013  |  Category: Front Page  |  8 Comments  |  2,323 views  |  

By Cheranka Mendis Over 1,500 persons have signed a petition circulating online via Facebook a day after it was introduced, calling on President Mahinda Rajapaksa to take action to stop incidents of harassment against minorities. The petition calls on people to join the movement to make Sri Lanka a safer place for all its citizens and to prevent hate speech and hate acts from taking away civil liberties and national peace, emphasising that “no matter what race or religion, we are all Sri Lankan”.  Read More →

Bourse, rupee dip

Published : 12:21 am  March 28, 2013  |  Category: Front Page  |  Leave a Comment  |  893 views  |  

Reuters: Stocks ended tad weaker on Wednesday to hit a one-week low despite foreign inflows, as investors were worried over upward pressure on interest rates after yields in Treasury bills rose for a fourth straight week. The main index ended 0.01% or 0.56 points weaker at 5,744.99, its lowest level since 20 March.  Read More →

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