19 June 2018
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International funds not required: BOC chief 80% of loans generated this year for private sector

raju senevirathnaActing Chairman of state banking giant Bank of Ceylon (BOC) Raju Sivaraman said the bank had adequate funds locally and there was no necessity to raise funds from the international market, as it aims to generate more credit to the private sector. Read more...

Aussie firm lights up Hambantota with $ 190 m solar power project

 

solar energyAustralia-based Energy Puzzle Group on Friday committed an investment of US$ 190 million to put up a solar panel and solar cells plant in the Mirijjawela Export Processing Zone in Hambantota.

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100% ownership to foreign investors

 

hu investerIndustries, tourism, and logistics are among Sri Lanka’s priority investment calls-and one hundred percent ownership is guaranteed for the global investor. "We have strong interest towards foreign investors entering manufacturing industries, tourism, and logistics. In that, we are keen to partner in sectors of manufacturing industrial zones, tourism infrastructure, and logistic projects such as ports and warehousing.

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Toyota to recall 1.9 million Prius hybrids

 

toyotaToyota is recalling 1.9 million of its top-selling Prius hybrid cars because of a software fault that may cause the vehicle to slow down suddenly.

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India pushes for CEPA

india slAn Indian business council, the Confederation of Indian Industries (CII), has decided to push for the Comprehensive Economic Partnership Agreement (CEPA) with Sri Lanka. Read more...

Finance companies pushed into riskier business

central bank logoFinance companies, non-bank lenders that lent to riskier clients were taking on more risk due to structural changes in the financial sector, a veteran banker said. Read more...

New hurdle in controversial Krrish deal

krrishThe controversial Krrish project in Fort has failed to make the final 15 per cent payment of US$ 449 million (about Rs. 59 billion) to commence construction work. The payment was reportedly due on January 31. Read more...

Believe in the impossible, says new Microsoft CEO Satya Nadella

satya nadella microsoft ceoSatya Nadella has been named the new Microsoft CEO. The Hyderabad-born introduced himself in an email sent to all Microsoft employees as someone 'defined by my curiosity and thirst for learning'. Nadella said he wants to 'change the world through technology that empowers people to do amazing things.' Read more...

Sri Lanka bank, finance firm consolidation in progress: Central Bank

central bank logoSri Lanka's banks and non-bank firm consolidation was progressing with meeting with individual firms with the regulator with preliminary plans expected to be submitted by March 31. Read more...

‘Japan to cooperate with India in Trinco power project’

japan sl project‘Japan will increase its level of cooperation with India in the energy sector in South Asia which will include promoting energy related investment in the thermal power plant building project in Trincomalee in Eastern Sri Lanka’, The Hindu of January 28 said in a report. Read more...

Rupee weakens, stocks down

 

money sriLankaThe rupee weakened against the US dollar on importer demand and bond sales by foreigners as stocks reversed a three-day trend to close in the red with foreigners emerging net sellers.

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