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BOI approves Renuka's Rs 2B project


By Mario Andree Ceylon Finance Today: As experts predict a major demand for modern commercial space in the heart of Colombo, Renuka Hotels and Cargo Boat Development Company yesterday signed an agreement with the country's investment promotion agency to construct a Rs 2 billion office complex in Colombo 2.Renuka Lands, a joint venture between Renuka Hotels and Cargo Boat Development Company, in a statement said that it would construct a modern rentable office building in Colombo.Highli...

HNB Group Post-tax profits grew to Rs 6.23 billion while the bank recorded a PAT ofRs 5.69 billion during the nine months ended September 2014....

Housing Development Finance Corporation of Sri Lanka (HDFC Bank) has recorded Rs 586.2 million profit before tax for the nine month period endi...

By Paneetha Ameresekere Ceylon Finance Today: The bourse greeted with muted response yesterday's televised announcement of President Mahinda Rajapaksa, that he would be contesting for a 3rd term, by the benchmark ASPI gaining by a marginal 0.07% over its previous day Wednesday's close to 7,530.33 points and the more sensitive S&P SL 20 Index by 0.06% to 4,191.45 points on a Rs 1.69 billion turnover, down by 7.65% over its previous day's figure. The total number of shares traded ...

By J. Kurukulasuriya Ceylon Finance Today: Ceylon Tea Services, the manufacturers of Dilmah tea, and its subsidiary, MJF Beverages (Pvt) Ltd., in which the company has invested, released interim results for the half year ended 30 September this week, showing largely stagnant performance.At the recent Management Accountants forum on 'Best practices in family business', director Malik Fernando warned of competition from low quality African CTC teas, and the fact that Sri Lanka's tea bran...

By Paneetha Ameresekere Ceylon Finance Today: President Mahinda Rajapaksa's announcement yesterday that he would be contesting a 3rd term did nothing to assuage the exchange rate (ER), with importer banks continuing to be subjected to Central Bank of Sri Lanka's (CBSL's) moral suasion umbrella and the 'spot next,' marginally weakening to the Rs 131.10-15 levels to the US dollar in interbank trading, market sources told Ceylon FT.On the previous day Wednesday, spot next closed marginall...

By Rishar Saleem Ceylon Finance Today: Remittances by international migrants from developing countries are on course for strong growth this year, while forced migration due to violence and conflict has reached unprecedented levels, reveals the latest issue of Migration and Development Brief by the World Bank. The brief further speculates that officially recorded remittances to developing countries are expected to reach US$ 435 billion this year, an increase of five per cent over 201...

Colombo Port's 391 million project also abandoned By Ravi Ladduwahetty Ceylon Finance Today: The Committee on Public Enterprises, in its latest report said, although the construction work of the Oluvil Port had been completed by spending Rs 6,780 million received from the DANIDA Agency of Denmark and Rs 444 million from the Sri Lanka Ports Authority, its operations had not commenced even at the date of the examination on 4 June, this year.Further, it has been revealed that the Port c...

Fitch Ratings Lanka has assigned Hatton National Bank PLC's (HNB; AA-(lka)/Stable) proposed senior debentures of up to Rs 4 billion a final National Long-Term Rating of 'AA-(lka)'.The assignment of the final rating follows the receipt of final documents that conform to information previously received. The final rating is at the same level as the expected rating assigned on 17 September 2014. The debentures, which are to have tenors of three, five and 10 years and carry fixed coupons,...

Stalwart of the local advertising industry, Laila Gunesekere-Martenstyn was bestowed with the honour of Woman Super Achiever in Advertising and Media at the recently concluded World Marketing Congress in Mumbai. Participants from over 50 countries vie for recognition at the annual World Marketing Congress.Laila has headed the Sri Lankan chapter of the 4A's and the International Advertising Association for two terms each. She is the recipient of the Zonta Woman of Achievement and the Har...

By Mario Andree Ceylon Finance Today: India's high-end leisure firm, ITC Hotel, which entered Sri Lanka in 2012 for a US$ 140 million mixed development project has increased its commitment by a further US$ 160 million considering the country's economic conditions.ITC Chairman, Y. C, Deveshwar, yesterday told journalists that the company was planning to invest a total of US$ 300 million on its first off-shore project coming up in Sri Lanka considering the country's growth rate and econo...

Reuters: Brent crude held steady below $ 79 a barrel on Wednesday as data showed Saudi Arabia increased crude exports in September despite signs of an oversupplied market and divisions between OPEC members appeared to grow ahead of a meeting next week. All eyes are on OPEC's response to a drop in oil prices of nearly one-third in recent months, with some smaller members calling for production cuts at the 27 November meeting in Vienna."It's going to be hard to reach any sort of agreem...

Ceylon FT

Ceylon Finance Today: As experts predict a major demand for modern commercial space in the heart of Colombo, Renuka Hotels and Cargo Boat Development Company yesterday
HNB Group Post-tax profits grew to Rs 6.23 billion while the bank recorded a PAT ofRs 5.69 billion during the nine months ended September 2014. That this performance
Housing Development Finance Corporation of Sri Lanka (HDFC Bank) has recorded Rs 586.2 million profit before tax for the nine month period ending 30 September 2014
Ceylon Finance Today: The bourse greeted with muted response yesterday's televised announcement of President Mahinda Rajapaksa, that he would be contesting for

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This article is not a review, but is intended to bring to the notice of thegeneral public a signal event by anoutstanding Sri Lankan judge and jurist, which will
  When Leader of the House, Minister Nimal Siripala de Silva, announced in Parliament on Tuesday, 11 November, the Supreme Court Opinion on the third presidential
Agnus Dei. The Lamb of God. The lamb in this case signifying innocence and corruption amidst the silence of God. God in this case, notwithstanding the Christian