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BUSINESS

Some PTL purchases reflected only in internal documents

Cross examining PTL CEO Kasun Palisena on the costs of sale of Bond purchases, Deputy Solicitor General Milinda Gunathilake said yesterday most of the purchases reflected as PTL’s expenses in their documents were unreliable because neither any payment nor security movements with other parties were reflected in the CBSL recording …

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Dairy farmers request government to resolve their problems

The National Center for the Protection of Dairy Farmers attached to the All Ceylon Farmers’ Federation has requested the government to provide solutions to the current problems faced by the 300,000 dairy farmers across the country. Addressing a press briefing in Dambulla, the National Organizer of the National Center for …

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Colombo Dockyard to build a ship for Japan

Colombo Dockyard has begun building a cable-laying vessel for Kokusai Cable Ship Co. Ltd., the Sri Lankan yard’s first ship for a Japanese customer. The keel laying ceremony for the ship with a diesel electric propulsion system took place at Colombo port Thursday. It is Colombo Dockyard’s first cable-laying ship …

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Sri Lanka’s high-end condos under pressure

Sri Lanka’s luxury residential condominium prices would stagnate or come down in 2018-2020 due to large levels of unabsorbed supply, Ravi Abeysuriya, group chief executive of Candor Group said. “Some developers may use more aggressive competitive tactics due to threat on profitability,” he said speaking at the Lanka Property Web …

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Sri Lankan rupee rises on dollar sales by banks-exporters

The Sri Lankan rupee ended firmer on Monday as dollar selling by exporters and banks outpaced importer demand for the U.S. currency, dealers said. The spot rupee ended at 152.45/55 per dollar, compared with Thursday close of 152.70/75. “There was selling today, lots of exporter conversions were there,” said a …

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Company profits slow in June quarter

Profits of companies listed on Sri Lanka’s stock exchange grew by 8.2% in the June 2017 quarter, up from a year earlier, with higher commodity and energy prices and floods affecting consumer spending, a brokerage said.   Total June quarter earnings of firms quoted on the Colombo stock exchange of …

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Rs. 35 million from Kurunegala Plantations to Treasury

At the recently held Progress Review meeting of the Ministry of Public Enterprise Development chaired by the Minister Kabir Hashim, it was revealed that the Kurunegala Plantations Ltd has provided Rs. 35 million to the Treasury from their profit of Rs. 155 million in 2015. The company which mainly produces …

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