British Airways today announced changes to its flight operations from Colombo and the Maldives. British Airways will fly to Colombo and Male until March 28, 2015. Services to Male will re-commence for winter 2015, but British Airways will cease to operate flights onwards to Colombo. With SriLankan Airlines recently joining oneworld, customers in Sri Lanka…
Colombo bourse closed in negative territory on Wednesday after six consecutive days of gains. Core index lost 6.21 points or 0.09% to end at 7,254.43 while S&P SL 20 index lost 7.46 points or 0.19 % to end at 4,022.63. Price declines in counters such as Commercial Leasing & Finance (closed at LKR 4.60, -4.2%),…
Deshodaya Development Finance Company Limited, a subsidiary of the Sarvodaya Movement which entered into a recent agreement to buy the controlling stake of George Steuart Finance Limited purchased 70.25 percent of this controlling stake today for nearly Rs. 350 million under the Consolidation of Financial Institutions Programme of the Central Bank of Sri Lanka. Deshodaya…
Alibaba founder Jack Ma has become China’s richest person following his company’s record listing, according to a wealth survey by the Hurun Report. Mr Ma tops its annual rich list with a fortune of $25bn (£15bn), followed by Wanda Group chairman Wang Jianlin. Internet billionaires account for five of China’s 10 richest people this year,…
Anilana Hotels & Properties PLC is to raise a sum of Rs. 767.4 million by the issue of up to 109,624,114 ordinary shares at a price of Rs. 07 each by way of rights to existing shareholders in the proportion of two new ordinary shares to every seven ordinary shares held. The funds raised would…
Colombo equities witnessed mixed returns on Tuesday amid notable foreign investor participation. ASI marginally gained 4.23 index points (+0.06%) to close at 7,260.64 while S&P SL20 index shed 0.78 index points or 0.02% to end at 4,030.09. Price appreciations in counters such as Sri Lanka Telecom (closed at LKR 53.00, +1.5%), Asiri Hospital Holdings (closed…
The Securities & Exchange Commission of Sri Lanka (SEC) has directed the Colombo Stock Exchange (CSE) to lift the price constraints imposed on the Crossings Board for share transactions falling within the ambit of the Central Bank of Sri Lanka’s Financial Sector Consolidation Plan. The SEC has decided to request companies seeking to benefit from…
Anushka Shah, Analyst, Sovereign Risk Group, Moody’s Investors Service Singapore Pte. Ltd. Tom Byrne, Senior Vice President, Sovereign Risk Group, Moody’s Investors Service Singapore Pte. Ltd. ** Below is an article from “Moody’s Credit Outlook“, Sep 22, 2014 issue. On Tuesday, the Government of Sri Lanka (B1 stable) and Government of China (Aa3 stable) announced…
iPHONE 6 and iPhone 6 Plus gives Apple huge sales boost as they finally hit stores Apple just had a record-breaking weekend. The company managed to shift a whopping 10 million iPhones in the last three days and it’s all down to their new devices. The iPhone 6 and 6 Plus went on sale last…
Colombo stock market started weekly operations on optimistic note where both indices witnessed positive returns. Core index gained 21.49 index points or 0.30% to close at 7,256.41 while 20-scrip S&P SL index gained 11.89 index points or 0.30% to close at 4,030.87. Price appreciations in counters such as Hemas Holdings (closed at LKR 63.00, +6.8%),…
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