Colombo share market started weekly operations on a negative note where both indices shed some of the hefty returns gained on last seven consecutive sessions. ASI declined by 43.71 index points or -0.61% to close at 7,174.97 while 20-scrip S&P SL index slipped by 41.21 index points or -1.03% to end at 3,974.42. Price declines…
The People’s Leasing & Finance PLC’s 15 million debenture issue of Rs. 100 each has been oversubscribed. The issue will close at 4.30 pm today (15 September) and the basis of allotment would be notified to the Colombo Stock Exchange in due course.
Hatton National Bank PLC, the premier private sector commercial bank in Sri Lanka, recently financed Softlogic Group’s strategic investment in the leading fashion brand ODEL, enabling the conglomerate to further strengthen its presence in the apparel and fashion accessories market. Softlogic purchased the shareholdings of Otara Gunawardene, and brothers Ajith and Ruchi Gunawardene (press release…
The net unrealized profits of the EPF share portfolio passed the Rs 10 billion mark on 11th September 2014. In addition, realized capital gains and dividends have amounted to Rs 3.4 billion so far, this year. This milestone was particularly significant since during the first half of 2014, there were allegations levelled at the EPF…
The boss of Emirates has suggested that airlines would have avoided flying over Ukraine long before flight MH17 crashed, if information about missiles in the area had been passed on. Sir Tim Clark told the BBC there had been evidence of weapons for weeks. But he claimed those in the know didn’t share it with…
The Union Bank of Colombo has appointed Indrajith Wickramasinghe as its Chief Executive Officer Designate with effect from 15 October 2014. Mr. Wickramasinghe will take over as Chief Executive Officer from 15 November 2014. He fills the vacancy created by the retirement of Anil Amarasuriya as Director/ Chief Executive Officer with effect from 15 November…
Otara along wither brothers Ajit and Ruchi Gunewardene sold their entire shares in ODEL PLC this morning (11 September) at the Colombo Stock Exchange. Most were taken by surprise by this sudden development in one of the most sought after fashion retail outlet entity. The initial response from sources revealed that Otara Gunewardene had decided…
Fitch Ratings has affirmed Sri Lanka-based telecoms company Dialog Axiata PLC’s (Dialog) ‘AAA(lka)’ National Long-Term Rating. The Outlook is Stable. KEY RATING DRIVERS Parent Support: Dialog’s rating of ‘AAA(lka) includes a single notch uplift from its stand-alone credit profile based on Fitch’s assessment of strong operational and strategic linkages with its stronger 83%-parent, Axiata Group…
Commercial Leasing & Finance PLC acquired 59,581,204 shares (56.34 percent) of BRAC from BRAC Lanka Investments Private Limited at Rs. 9.70 per share. A mandatory offer will be made for the remaining shareholders. LOLC Micro Investments Limited, a wholly owned subsidiary of LOLC presently holds 35.02 percent shares of BRAC. Commercial Leasing & Finance, which…
Founder of ODEL PLC Otara Gunawardene sold her entire shares in the company to the Softlogic Group for nearly Rs 2.7 billion. Her brothers and Directors of ODEL Ajith and Ruchi Gunawardene sold their shares as well. A total of 80.8 million shares from Otara, 39.4 million from Ajith and one million from Ruchi Gunawardene…
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