Colombo equities swung between gains & losses on Tuesday and closed with mixed returns. Benchmark All share price index gained 21.25 points or 0.30% to end at 7,205.47 while S&P SL 20 index lost 2.80 points or 0.07% to end at 4,011.75. Price appreciation in counters such as Sri Lanka Telecom (closed at LKR 51.20,…
MCSL Financial Services Limited and MBSL Savings Bank Limited are to be amalgamated with the Merchant Bank of Sri Lanka. Accordingly, the name of the Merchant Bank of Sri Lanka PLC would be changed to Merchant Bank of Sri Lanka & Finance PLC after due registration with the Registrar of Companies.
Global oil prices have fallen again amid worries about slow global growth and reports that key oil producers want to maintain current output levels. Brent crude fell to a near four-year low of $87.74 a barrel earlier, before recovering some ground to $88.46. US light crude oil was down $0.93 at $84.76, close to a…
Softlogic Group has increased its shares in Sri Lanka’s leading fashion retail chain ODEL to 93.2 percent. Recently, the Softlogic Group led by prominent Sri Lankan businessman Ashok Pathirage bought 45.16 percent of shares in ODEL from its pioneer Otara Gunawardene and her family members for Rs. 2.7 billion. Following this, the company’s subsidiaries Softlogic…
Frenchman Jean Tirole of the University of Toulouse won the 2014 Nobel Prize in Economic Sciences for his work on how governments can better regulate industries from banking to telecommunications. Regulators can use Tirole’s research to encourage powerful companies to become more productive, while preventing them from harming competitors and customers, the Royal Swedish Academy…
Habitat for Humanity calls on corporates with a conscience: World Habitat Day 2014 theme shines the spotlight on ‘Voices from Slums’ Habitat for Humanity Sri Lanka (HFHSL) calls on corporates to help improve life conditions in the country with a special focus on those who live in dilapidated housing, encapsulated in this year’s World Habitat…
A Bill was introduced in Parliament to register the DFCC Bank as a public limited company incorporated under the Companies Act with the name DFCC Bank PLC. This Bill will become law once passed by Parliament and certified by the Speaker.
Renuka Holdings PLC is preparing for a Rights Issue to raise nearly Rs. 01 billion to be invested in its property development project at Kollupitiya in Colombo 3. The company is to issue 44 million ordinary voting shares at Rs. 21 each and six million ordinary non-voting shares at Rs. 15 each. These shares are…
Mercantile Investments & Finance PLC is preparing for a Debenture Issue to raise Rs. 200 million. The Colombo Stock Exchange has approved the company’s application to list its debt securities. Accordingly, 02 million senior, unsecured, redeemable, rated debentures are to be issued at Rs. 100 each. The issue opens on 30 October and the managers…
Bimputh Finance PLC headed by United National Party Parliamentarian and the party’s national organiser Daya Gamage has obtained a loan from the Luxemburg based capital investment fund to expand the micro finance operations of the company. Bimputh Finance has obtained a loan of USD 750,000 from the fund Incofin IM’s Rural Impulse Fund S.A. SICAV-FI….
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