Reuters – Sri Lankan stocks ended down on Wednesday from their highest level in six weeks, hit in the previous session, led by profit-taking in Commercial Credit and Finance Plc, while the new tobacco tax weighed on Ceylon Tobacco Company shares. The benchmark index of the Colombo Stock Exchange ended down by 0.18 percent at…
The proposal made by Nimal Siripala de Silva, Minister of Transport and Civil Aviation, to formally sign the air service agreement with Norway/Sweden/Denmark and to take necessary action for its enforcement which was agreed during the consultations held at Antalya in Turkey on 21-10-2015 on passenger and freighter operations, was approved by the Cabinet of…
ICRA Lanka Limited, subsidiary of ICRA Limited, a group company of Moody’s Investors Service, has reaffirmed the issuer rating of [SL]A- (pronounced SL A minus) with stable outlook for First Capital Holdings PLC (FCH or the company). ICRA Lanka has also reaffirmed the issue rating of [SL]A- (pronounced SL A minus) with stable outlook for…
Economic growth expected to gradually accelerate to 7.3 percent in 2017 from 7.1 percent in 2016 South Asia has defied a sluggish world economy and solidified its lead as the fastest growing region in the world in 2016, a new World Bank report said today. Led by solid performance in India, economic growth is expected…
Dr. Hans Wijesuriya, who is the Chief Executive Officer and Director of Dialog Axiata PLC has been appointed to the Board of Directors of John Keells Holdings PLC. Dr. Wijesuriya is also the South Asian Region’s Chief Executive Officer of Axiata Group Bhd. He would function as a Non-Executive Director of John Keells Holdings with…
Progress of Colombo Port cited at Lloyds List’s gala awards presentation in London The role played by China Merchants Port Holdings (CMPH) in the development of the Port of Colombo into a leading transhipment hub in South Asia was among the factors in the company being adjudged Port Operator the Year at the Lloyd’s List…
Reuters – Sri Lankan stocks closed at their highest level in six weeks on Tuesday, led by record gains in Commercial Credit and Finance Plc after Thailand’s Group Lease PCL bought a 30 percent stake in the firm. Motorcycle lessor Group Lease has acquired a 30 percent stake in Commercial Credit and Finance PLC (CCF)…
On 3rd October 2016, subsequent to receiving the requisite regulatory approvals, Union Assurance General Limited (UAG) – a Fairfax Company, acquired 100% shares of Asian Alliance General Insurance Limited (AAGI). AAGI, was formerly a part of the Softlogic Group, but now will continue to operate as a fully owned subsidiary of Union Assurance General (UAG)….
Reuters – Sri Lankan stocks ended up for a fifth straight session to post a more-than-five-week closing high on Monday, led by conglomerate John Keells Holdings , as hopes over better macro-economic conditions helped boost sentiment. The day’s turnover was boosted by foreign institutional investors. The benchmark index of the Colombo Stock Exchange finished up…
Thai motorcycle lessor Group Lease PCL has acquired a 30 percent stake in Sri Lanka’s Commercial Credit and Finance PLC (CCF) for $70 million, the company said on Monday, in its first major expansion outside Southeast Asia. The acquisition comes a month after it bought a 71.9 percent stake in BG Microfinance Myanmar from the…
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