Vauxhall Auto Mart to open new showroom in Colombo

Published : 10:58 am  June 10, 2013  |  Category: Business  |  Leave a Comment  |  875 views  |  

Vauxhall Auto Mart Ltd. announced plans to open its new showroom for UK-based car magnate Vauxhall. The company will be opening its state-of-the-art showroom located on Dharmapala Mawatha in June this year. The showroom will display three of Vauxhall’s most recent and aesthetically beautiful models, the Mokka SUV, Corsa and Agila.  Read More →


NCCSL signs MoU with Overseas Friendship Association of Hunan Province, China

Published : 10:58 am  June 10, 2013  |  Category: Business  |  Leave a Comment  |  226 views  |  

A MoU was signed between the National Chamber of Commerce of Sri Lanka (NCCSL) and the Overseas Friendship Association of Hunan Province of China when a delegation headed by Li Wei Wei, Chairperson of the Overseas Friendship Association of Hunan Province of China, visited the chamber on 31 May 2013.  Read More →


Exide appoints Sunil Perera as Brand Ambassador

Published : 10:58 am  June 10, 2013  |  Category: Business  |  Leave a Comment  |  269 views  |  

Exide, the number one automotive battery in Sri Lanka, recently appointed well-known musician Sunil Perera of Gypsies as its Brand Ambassador for the forthcoming year.    Read More →


A listening President?

Published : 12:58 am  June 10, 2013  |  Category: Front Page  |  1 Comment  |  1,054 views  |  

President Mahinda Rajapaksa leans in to listen to the chat between his two Secretaries Lalith Weeratunga and Dr. P.B. Jayasundera at the ceremony on Friday when the 2012 Annual Report of the Ministry of Finance and Planning was launched  Read More →


CB flags off high inflation rate- lending rate differential to banks

Published : 12:56 am  June 10, 2013  |  Category: Front Page  |  1 Comment  |  1,093 views  |  

Average differential in rest of Asia is 3-5% whereas in Sri Lanka it is 8% says Governor, indicating banks will have to fall in line The Central Bank on Friday flagged off what it described as the high differential between the country’s inflation rate and lending rates, indicating that commercial banks would be required to fall in line lower difference as seen in rest of Asia.  Read More →


Dr. PB paints Sri Lanka with “turned around nation” story

Published : 12:54 am  June 10, 2013  |  Category: TOP STORY  |  4 Comments  |  2,964 views  |  

Finance Secretary Dr. P.B.  Jayasundera on Friday described the performance of the economy in 2012 amidst severe challenges and prospects in the immediate future akin to a story of a “turned around” nation. Jayasundera in fact related key segments of the “turned-around” nation story in his speech at the ceremonial launch of the Ministry of Finance and Planning 2012 Annual Report officiated by President Mahinda Rajapaksa.  Read More →


DEW says COPE doing its best; people will benefit if State revenue rises with GDP

Published : 12:52 am  June 10, 2013  |  Category: Front Page  |  Leave a Comment  |  964 views  |  

 Warns of widening income disparity For the first time COPE has probed all 235 state entities CPC, CEB, SriLankan and Mihin account for 95% of state sector losses Calls for aggressive increase in State revenue, tax collection    Read More →


Corporate earnings encouraging: DNH

Published : 12:50 am  June 10, 2013  |  Category: Front Page  |  Leave a Comment  |  921 views  |  

DNH Financial described corporate earnings released so far encouraging, with double digit growth in revenues though bottom lines have been under stress due to rising costs.  Read More →


NSB’s $ 1 b global bond likely to be sold by end June

Published : 12:49 am  June 10, 2013  |  Category: Front Page  |  1 Comment  |  665 views  |  

Reuters: State-owned National Savings Bank (NSB) is likely to sell up to $ 1 billion of global bonds by the end of this month, officials said on Friday, the biggest corporate bond issue so far.  Read More →


Colombo Pharmacy to rebrand as Colombo City Holdings

Published : 12:49 am  June 10, 2013  |  Category: Front Page  |  1 Comment  |  1,253 views  |  

Shareholders of Colombo Pharmacy Company Plc approved several resolutions changing the future course of the operations at the EGM held on Friday.   They approved Board’s decision to discontinue the pharmaceutical business and carry on the business of property development and any other related activities as well as any other business as directors may think proper from time to time.  Read More →