While inaugurating the secondary market transactions of People’s Insurance Company today (12 January), its Managina Director D.P. Kumarage announced that the company would offer 50 per cent of its profits as dividends while responding to a query by Ada Derana Biz. While adding further, Kumarage said, “We wanted to list this company. The share market…
The northern region of Sri Lanka will welcome once again for the 7th consecutive year, the Jaffna International Trade Fair (JITF 2016). Considered by the people in the north as the largest exhibition and consumer fair, the event takes place from the 29th – 31st of January 2016 in Jaffna. The Exhibition which has grown…
The Commercial Bank of Ceylon has announced that for the first time in Sri Lanka, users of the Bank’s Online Banking facility can now make instant, real-time transfers of funds from their Commercial Bank accounts to accounts in other banks, via the LankaPay – Common Electronic Fund Transfer Switch (CEFTS) launched by LankaClear (Pvt) Ltd….
The bleak start to the year continued on the Colombo Bourse as ASI plunged for the sixth consecutive day with market conditions providing little or no incentives to the investors take positions in the battered stocks. ASI nose-dived to a 18 month low of 6,650.32 (down by 75.96 index points or 1.13%) while 20-scrip S&P…
Minister of Plantation Industries Navin Dissanayaka said that Tea Small Holders are contributing 73 percent to the tea production in Sri Lanka, at the foundation stone laying ceremony for the new Shrine Room held at its premises. He pointed out that the world tea market could be conquered by improving the quality of tea products…
THE world could be headed towards a new global financial crisis similar to that which decimated markets in 2008, says billionaire investor George Soros. Speaking at an economic forum in Sri Lanka Thursday, the 85-year-old drew similarities between the current economic environment and the financial crash of 2008. “When I look at the financial markets…
In the backdrop of the UN Sustainable Development Goals (SDG) to launch, Bangladesh is hosting the 6th South Asian Conference on Sanitation (SACOSAN – VI) from today the 11th of January 2016 till the 13th of January 2016 at the Bangabandhu International Conference Centre (BICC). The conference being inaugurated by Mr. Abdul Hamid, Honorable President…
The proposed Colombo International Financial Centre (CIFC) will be inaugurated in April this year. Finance Minister Ravi Karunanayake said that seven international banks which are currently not in operation in the country from Middle East, Japan, Korea are planning to establish offshore branches through the CIFC. the Minister said. Along with these close to 50…
The disappointing trend continued on the fifth session of the New Year as both indices closed with negative returns. All share index shed -48.99 index points (-0.7%) to close at 6,726.28 while the S&P SL20 index lost -32.04 index points (-0.9%) to close at 3,514.41. Sri Lanka Telecom (closed at LKR 45.70, +1.8%) stood out…
It is now four days since trading of Entrust Securities PLC had been suspended at the Colombo Stock Exchange [CSE]. On 04 January the Central Bank of Sri Lanka (CBSL) took steps to hand over its management to the National Savings Bank due to several complaints on financial irregularities in the company. When Ada Derana…
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