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Last Updated = Tue, Jul 29, 2014, 12:57 am SL Time

* Commercial Bank of Sri Lanka appoints Dheerasinghe as chairman

July 28 (CP) Colombo- Sri Lanka's top private bank Commercial Bank of Ceylon (CBC)said in a stock market disclosure Monday that it has decided to appoint deputy Chairman Dharma Dheerasinghe as chairman of the bank with effect from July 29.
[Full Story]

* Sri Lanka to host Global Rubber Conference 2014

July 28 (CP) Colombo- Sri Lanka has been selected to host one of the world's leading conferences on natural rubber Global Rubber Conference (GRC) 2014. The three-day international event will be held from 27 to 30 October 2014 at the Cinnamon Grand in Colombo.
[Full Story]

* Chairman of Commercial Bank to step down

July 27 (CP) Colombo- The Chairman of Commercial Bank of Ceylon Dinesh Stephen Weerakkody will relinquish his office as a director/chairman on 28 July 2014, the Commercial Bank said in a disclosure to the Colombo Stock Exchange.
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* SEC asks brokers, margin providers to cut lending rates

July 28 (DM) Market regulator, Securities and Exchange Commission (SEC) has asked stockbrokers to reduce interest rates charged on broker credit and margin trading in line with policy interest rates of the Central Bank.
[Full Story]

* Sri Lanka Chevron Lubricants net up 20-pct

July 28 (LBO) Sri Lanka's Chevron Lubricants said profits rose 20 percent to 675 million rupees in the June 2014 quarter from a year earlier helped by wider margins.
[Full Story]

* DFCC has consistently given shareholders handsome returns over a decade: Brito

July 27 (Island) The DFCC Bank has seen a slight drop in profit after-tax to Rs.3.25 billion in the year ended March 31, 2014 from Rs.3.39 a year earlier although income was up to Rs.20.6 billion from Rs.18.2 billion a year earlier.
[Full Story]

* Tess Group to boost local canned fish production

July 27 (SO) The Tess Group of Companies launched a fully Sri Lankan canned fish product 'Oliver's Pride' at a ceremony at the Cinnamon Lakeside on Thursday. Fisheries and Aquatic Resources Development Minister Dr. Rajitha Senaratne was the chief guest.
[Full Story]

* Sri Lanka Chief Justice recuses himself from hearing Golden Key case

July 28 (CP) Colombo- The Chief Justice of Sri Lanka Mohan Peiris recused himself from the hearing of Golden Key case related to the deposits of a defaulted financial company. The Chief Justice cited conflict in interest as the reason for his recusal since he once served as the chairman of another financial institution that had linked with the defaulted credit company.
[Full Story]

* Minimum postage increased in Sri Lanka

July 27 (CP) Colombo- The Sri Lankan government has decided to revise postage rates with effect from August 01. The proposal for the revision of the postage rates has been approved by the cabinet of Ministers, says Postal Department.
[Full Story]

* Overseas Realty posts Rs.1.5bn half-year profit

July 28 (Island) Overseas Realty (Ceylon) PLC. continued its earnings growth in the first six months of 2014 with a 58% increase in group profit after tax, (excluding fair value gains on Investment property) to reach Rs 1,028mn. The Group Revenue increased by 57% to Rs 2,603mn fronted by healthy growth in Property Leasing, Trading and Service segments.
[Full Story]

* Laksala records Rs.435m revenue in first half

July 28 (DN) Laksala recorded an increased and impressive revenue of Rs. 435 million in the first half of 2014 from both local and tourists’ sales. During the corresponding period last year the revenue stood at Rs. 292.7 million.
[Full Story]

* Tobacco tax a double deception

July 27 (Nation) The Alcohol and Drug Information Center (ADIC) - backed study titled ‘Parliament should have a formula for regulating cigarettes’ conducted by Verité Research finds tax and price setting system for cigarettes in Sri Lanka is ad hoc and in the clutches of political and bureaucratic discretion.
[Full Story]

* EPF pulls back on some benefits for private sector workers

July 27 (ST) The Employees Provident Fund (EPF) is to pull back some EPF benefits for private sector employees since the fund anticipates a negative cash flow due to increasing withdrawals by retirees.
[Full Story]

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