Sri Lanka Telecom (SLT) group has recorded a profit of Rs. 547 million, which is a drop of 66 percent during the quarter ending March 2014. Accordingly, the per share profit of the group for this quarter is only cents 30. Though the revenue has increased by six percent to Rs. 15.2 billion, the main…
India’s TATA Housing together with the Urban Development Authority (UDA) begins a USD 430 million mixed development project on a three acre plot of land at Slave Island in Colombo. While the first phase of this project was launched yesterday (11 May) by Defence and Urban Development Ministry secretary Gotabhaya Rajapaksa, four towers with 650…
Popular Korean car maker Kia has unveiled the prototypes of two electric bicycles as part of the company’s commitment to zero emission propulsion, 70 years after it first manufactured bicycle parts in Korea in 1944. Powered by a 250 Watt rear-wheel drive electric motor powered by a detachable 36 Volt, 10 ampere lithium-ion polymer battery,…
The Commercial Bank of Ceylon PLC has made a measured start to 2014 despite excess liquidity, lower demand for credit and thinning margins. The Bank has reported operating profit before VAT and NBT of Rs 3.897 billion for the three months ended 31st March 2014, reflecting growth of 4.73% over the first quarter of 2013….
Colombo stock market started its’ weekly operations on a positive note where ASI managed to reach 6,300 mark after 11 months. ASI gained 18.29 index points or 0.29% to close at 6,303.16 while 20-scrip S&P SL index up by 23.65 index points or 0.68% to end at 3,480.91. Price appreciations in Bukit Darah (closed at…
Many Facebook users are unable to access their accounts as the social network website is reportedly not working at the moment. Reports on Twitter are corroborating evidence that Facebook’s website is down for many, Tech Crunch reports. The social network posted a message to its developer site, apologizing for the inconvenience caused to Facebook users…
Ceylon Tobacco Company (CTC) which enjoys the sole monopoly of the cigarette market in Sri Lanka has released its latest summary of performance for the three months ended 31 March 2014. The report indicates that CTC has contributed a massive sum of Rs. 15.9 billion to the government revenue within the three months ended 31…
Jayantha Dhanapala, the independent non-executive director of Dialog Axiata PLC, has given notice of his decision to retire from the company’s board of directors due to personal reasons. Accordingly he will retire in terms of Section 210 of the companies Act No 07 of 2007, at the conclusion of the forthcoming Annual General Meeting of…
Gambling billionaire James Packer and Channel Nine boss David Gyngell have been fined $500 over their public brawl at Bondi. Police say they have issued two Criminal Infringement Notices for offensive behaviour following the fight in Sydney’s east over the weekend. The penalty notice carries a fine of $500 if it goes uncontested by the…
Colombo shares concluded weekly operations on Friday recording a 23-month high turnover of LKR 7.15bn. Approx. 586mn shares of Expolanka changed hands at LKR 10.70 per share at the beginning of today’s trading session which also resulted to a 29-month high daily volume of 630mn shares. The crossing was 88% of the daily market turnover….
Video Story
