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Analysis

Signs of revival in motorcar trend

The import expenditure of the non-consumables sector has increased due to the rise in the import of vehicle into Sri Lanka, reveal latest statistics. According to date released by the Central Bank of Sri Lanka, the number of vehicles imported by Sri Lanka in July 2014 has increased by 8.5 percent as compared to the…

(0)Comments | September 19, 2014 10:10 am

Chinese President’s pledges to Sri Lanka

It has been revealed that the main focus of Chinese President Xi Jinping, who arrives in Sri Lanka today (16 September) on a two day visit marking the visit of a Chinese President to the island after 28 years, would be on the final agreement on proposed Sri Lanka-China free trade agreement. Both countries have…

(0)Comments | September 16, 2014 10:49 am

Sri Lanka’s latest economic development

While the Department of Census & Statistics has released its on Sri Lanka’s latest economic development, it has revealed that the island’s Gross Domestic Product for the second quarter of 2014 has grown by 7.8 percent compared to the same quarter in 2013. The agricultural sector has contributed 10.6 percent, the industrial sector 31.5 percent…

(0)Comments | September 16, 2014 9:43 am

Softlogic Group issues mandatory offer to buy balance Odel shares

Softlogic Holdings PLC and Softlogic Retail (Private) Limited who now own approximately 45.16 percent shares of Odel PLC have issued a mandatory offer to purchase the remaining 54.84 percent not already owned by Softlogic as Rs. 22 per share. On 11 September 2014, Softlogic Holdings PLC together with Softlogic Retail (Private) Limited purchased 122,894,000 ordinary…

(0)Comments | September 15, 2014 2:22 pm

EXCLUSIVE:: A massive USD one billion Japanese investment in Sri Lanka

A prominent Japanese financial services provider Daiwa Securities is reportedly preparing to invest a massive USD one billion in Sri Lankan Treasury Bonds. While speaking at an exclusive interview with adaderanabiz.lk Sri Lanka’s Ambassador in Japan Admiral Wasantha Karannagoda said this investment is expected to be made by next March. A delegation of senior representatives…

(0)Comments | September 9, 2014 11:21 am

Arpico under Yaddehige takes over Chilaw Finance

Richard Peiris Arpico Finance Company under scientist and engineer Dr. Sena Yaddehige led Richard Peiris Group entered into a memorandum of understanding to acquire 51 percent stake of Chilaw Finance PLC. While this agreement has been entered into under the financial institutions consolidation programme of the Central Bank of Sri Lanka, Richard Peiris Arpico Finance…

(0)Comments | September 3, 2014 9:33 pm

Fitch Downgrades John Keells Holdings to ‘AA+(lka)’

Fitch Ratings has downgraded John Keells Holdings PLC’s (JKH) National Long-Term Rating to ‘AA+(lka)’ from ‘AAA(lka)’. The Outlook is Stable. JKH is a holding company with interests in transportation, leisure, property, consumer foods, retail and financial services, and it depends largely on dividend income to meet its financial obligations. The downgrade reflects the deterioration in…

(0)Comments | September 3, 2014 6:45 pm

Bimputh Finance acquires nearly 25% shares of Sinhaputhra Finance

Bimputh Finance PLC today (02 September) acquired 1,573,765 representing 24.99 percent shares of Sinhaputhra Finance PLC at Rs. 275 each. After this acquisition Bimputh Finance holds 1,605,919 shares representing 25.5 percent shares of Sinhaputhra Finance PLC.

(0)Comments | September 2, 2014 10:46 pm

Carson Cumberbatch clarifies speculative reports

Carson Cumberbatch PLC has issued a clarification to avoid speculative reports that its subsidiaries, namely Goodhope Asia Holdings Limited and four Malaysian plantation companies, Indo-Malay PLC, Shalimar (Malay) PLC, Selinsing PLC and Good Hope PLC were seeking large scale listing of their palm oil operations on the Singapore Stock Exchange. Carson Cumberbatch states that the…

(0)Comments | September 2, 2014 10:31 pm

The rise of Sri Lanka’s e-government services

  By Indika De Zoysa:: Sri Lanka as a country is growing rapidly in every aspect. The country has achieved better gross domestic product (GDP) rates, a single digit level inflation, a solid GDP per capita income and low unemployment rates over the last two years, with positive contributions from key sectors of the economy. This…

(0)Comments | September 2, 2014 3:20 pm