19 June 2018
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Krrish silent on completing payment on Colombo project

urben develpment authorityIndia’s Krrish Group, despite government’s repeated extensions and reprieves, is reportedly still silent on the completion of its due payments to lease the 4.3 acre Transwork Square property in Colombo Fort, 21 months after signing an MOU with the Urban Development Authority (UDA). Read more...

Krrish gets fifth deadline to make final payment

krrishThe controversial Krrish development project in Colombo has reportedly secured yet another extension, which is the fifth in 20 months to make the final payment. Read more...

New Zealand's Fonterra fined over botulism food scare

fonterra 1Dairy giant Fonterra has been fined $NZ300,000 ($256,675; £154,748) after it admitted four food-safety violations during a 2013 botulism scare. Read more...

Govt. revenue collection remains a challenge: ADB

inland revenueThe government has maintained fiscal deficit targets by sacrificing expenditure on critical sectors such as education and health as tax revenue targets continue to be unmet; wide ranging tax reforms could increase revenue to 20% of GDP, but the piecemeal adoption of recommendations of a Presidential Committee on Taxation is keeping revenue below target each year. Read more...

Finance Ministry signs US$ 300mn loan agreement with China

china sl flagThe Finance Ministry has signed a US$ 300 million loan agreement with China Development Bank. Read more...

Govt. hoping to grant new oil, gas exploration licences before Oct.

oil exploration The government plans to finalize the evaluation of bids submitted by two oil exploration companies by April and grant licences so that exploration activities could commence by October Read more...

Renuke promoted as Chief Operating Officer at CSE

 

Renuke-WijayawardhaneRenuke Wijayawardhane has been appointed Chief Operations Officer (COO) of the Colombo Stock Exchange, with effect from 1 March 2014.

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Dhammika Perera basks in a personal fortune of $550 million.

dhammika pereraHuddled in a Taj suite in Mumbai, Binod Chaudhary, Maruti SuzukiBSE -0.55% chairman RC Bhargava and Tilak De Zoysa are deep in conversation. The common link that has brought together the Nepalese, Indian and Sri Lankan business leaders, respectively, happens to be automobiles; Chaudhary is Nepal's sole Maruti Suzuki distributor while Zoysa's company is the Sri Lankan counterpart. Incidentally, Chaudhary also owns hotels in South Asia that are managed by the Taj Group and Zoysa sits on the board. "We like to operate in the toughest business environments, that's our USP," says Chaudhary, chairman of Chaudhary Group, and Nepal's first dollar billionaire. Read more...

India’s NTPC gets Sri Lankan contract prior to resolution

trincoThe Sri Lankan government has taken steps to award India’s state-run NTPC’s Consultancy Wing the contract for providing engineering consultancy services to Trincomalee Power Company Ltd. (TPCL) to set up a 500 MW coal-based power project at Trincomalee. Read more...

Central Bank of Sri Lanka : Issue of Sri Lanka Development Bonds

central bank logoThe Central Bank of Sri Lanka, offered to issue Sri Lanka Development Bonds (SLDBs) of US Dollars 60 million in 3 year tenor to eligible investors for subscription at a rate of US Dollar 6 month LIBOR plus a margin to be determined through competitive bidding.

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Bill Gates world's richest again, Mukesh Ambani tops India list: Forbes

bill gatesMicrosoft co-founder Bill Gates has regained the title of the world's richest man in Forbes magazine's annual billionaire list that includes 56 India based billionaires led by Reliance Industries chairman Mukesh Ambani. Read more...

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