Colombo equities concluded weekly operations with positive returns on Friday on hopes of a stable national government. Mr. Ranil Wickremesinghe sworn in as the Prime Minister of the country today and the two major political parties signed MoU to work together for next two years. Benchmark index grabbed 26.25 index points or 0.35% to end…
Adani Ports and Special Economic Zone on Monday signed a concession agreement to develop the much-publicized Vizhinjam International Container Transshipment Terminal, allowing India’s largest private port developer to begin construction on the green-field project November 1. The first phase of the project will include a total berth length of 2,625 feet and a 53-hectare (131…
Volatility returned to Colombo bourse as the market lost steam amid on-going discussions among the two major political parties to form a national government. Sri Lanka Freedom Party today decided to support ruling United National Party to build a stable government for a 2 year period. Bench Mark All Share Price index lost 48.96 points…
by Daniel Ten Kate and Anusha Ondaatjie Most central bankers would relish an office with an unobstructed view of the Indian Ocean’s sparkling waters. Sri Lanka Governor Arjuna Mahendran finds it dull. He would rather see skyscrapers dotting the horizon as cargo vessels deposit containers into Colombo’s ports. Right now, piles of sand and stones…
The existing election laws in Sri Lanka favours candidates with huge financial resources, says the Asian Network for Free Elections (ANFREL) which deployed a team of election observers from countries across Asia to observe the August 17 Parliamentary Elections in Sri Lanka. The monitoring mission added that, as mentioned by the People’s Action for Free…
Janashakthi Insurance is to issue 180,500,066 new ordinary shares by way of a Rights Issue. The proportion of the shared to be issued would be one new ordinary share at Rs, 18.50 for every two shares held as at 19 August 2015. The current share capital of the entity is Rs. 1,496,000,440 consisting of 363,000,132…
Hikkaduwa Hotels Holdings (Private) Limited has bought more than 10 per cent of the voting rights of Bansei Royal Resorts Hikkaduwa PLC from an individual shareholder. The 16,665,680 shares thus bought at Rs. 11 each amounts to 31 per cent.
Colombo equities continued the positive vibes after the general election and the benchmark index tapped the 30 week high of 7,531.27 but closed with flat returns. All share index closed at 7,498.78, marginally up by 0.08 index points or (+0.0%) while S&P SL20 index gained 6.60 index points (+0.16%) to end at 4,164.31. Index-heavy caps…
Greater clarity over economic policy matters more for the credit than the party composition of Sri Lanka’s next government, says Fitch Ratings. Improved economic policy credibility and coherence would strengthen Sri Lanka’s resilience to growing investor uncertainty towards emerging Asia. The establishment of a new government with a clear electoral mandate following parliamentary elections on…
Dr. Harsha de Silva and Eran Wickremaratne recently gained prominence among the masses as two United National Party (UNP) members who speak, debate and explain issues relating to the economy to the masses. Though they were appointed to the former Parliament as members through the National List, for the first time they contested the Colombo…
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