The National Savings Bank (NSB) launched a five year International Bond Issue today (02 September) to raise USD 250 million. Acording to Bloomberg News Service its Initial Guidance is 5.5 percent. The sales managers to this Issue are Barclays, Citigroup and HSBC banks. The global credit rating agency Fitch Ratings has issued a BB-(EXP) to…
In a world where information is plentiful and abundant, traders are always trying to make money by finding that hidden advantage. Many are betting that 140 characters is all it takes to beat the market. Some professionals in the world of high finance are relying on Twitter and other social media to try to get…
Colombo equity market started the weekly operations in mixed note where All share price index lost 3.20 points or -0.05% to close at 7,030.89. S&P SL 20 index gained 4.88 points or 0.13% to end at 3,877.39. Price declined in Ceylon Tobacco (closed at LKR 1,180,-1.4%), Nestle Lanka (closed at LKR 2,100.00, -2.2%) and Cargills…
The Commercial Bank of Ceylon PLC has purchased the entirety of the shares of Indra Finance Limited represented by 21.6 million ordinary shares for Rs. 870 million under the consolidation programme of the Central Bank of Sri Lanka. Commercial Bank had announced this transaction last July. This transaction has received the approval of the Monetary…
Laugfs Gas PLC has incorporated a fully owned subsidiary under the name Laugfs Maritime Services Private Limited as a Board of Investment (BOI) approved project. Laugfs Maritime Services Private Limited will own, operate, hire and charter various types and sizes of ships including Liquid Petroleum Gas (LPG) shipping vessels and other types of vessels that…
Renuka Shaw Wallace PLC has decided to change the name of the company to Renuka Foods PLC. An extraordinary general meeting is to be convened on 25 September 2014 to pass the special resolution to give effect to this name change of the company.
Citizens Business Development Finance PLC (CDB) has decided to acquire 86.26 percent of the issues and fully paid share capital of the specialized leasing company Laugfs Capital Limited for Rs. 425 million. CDB is also to enter into a memorandum of understanding with Laugfs Holdings Limited in order to effect this share acquisition. This share…
India’s economy grew by 5.7% in the three months to June, its fastest pace in two-and-a-half years, according to an official estimate. The economy was helped by strong growth in electricity, gas and water supply, and financial services, the Ministry of Statistics said. The growth figure was higher than analysts had been expecting. India’s new…
The Colombo Stock Exchange has approved in principle an application by the Bank of Ceylon for listing its debt securities. The bank is to issue 40 million unsecured unredeemable debentures at an issue price of Rs. 100 each with an option to issue up to a further 40 million debentures in the event the initial…
Colombo Stock market wrapped the weekly operations on positive note where ASI closed on 38 month high level. Core index bagged 42.33 index points or 0.61% to close at 7,034.09 while 20-scrip S&P SL index gained 26.64 index points or 0.69% to end at 3,872.51. Price appreciations in counters such as Ceylon Tobacco (closed at…
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