Sri Lanka lays the claim to 95 per cent of the world’s Cinnamon production. While joining Ada Derana Biz 24X7, Sri Lanka Cinnamon Producers’ Association chairman Saradha de Silva says his associan has by now requested the government to establish a Cinnamon Development Authority and that the 2016 Budget has allocated Rs. 50 million to…
The Trade Development Authority of Pakistan (TDAP) along with High Commission of Pakistan in Sri Lanka will host the Pakistan single-country exhibition in Colombo from January 15-17, with an aim to boost bilateral trade between the two countries. TDAP has prioritised sectors such as textile, pharmaceutical, engineering goods and small and medium enterprises (SMEs) at…
People’s Insurance Limited (PIL) rang the opening bell to commence trading at the Colombo Stock Exchange (CSE) today. The market opening ceremony was organised by the CSE to mark the first trading day for PIL’s shares since its Initial Public Offering (IPO) in 2015. People’s Insurance Limited Chairman Mr. Jehan P. Amaratunga, People’s Insurance Limited…
Colombo bourse fell out of the frying pan into the fire today as ASI crashed to a 18 month low of 6,534.35 (down by -115.97 index points or -1.74%), while the S&P SL20 lost -71.00 index points or -2.05% to close at 3,393.04. Today’s decline marked the biggest intra-day drop after 24th August 2015. The…
The share market has by now recorded its worst collapse in recent history. By 1.55 this afternoon (12 January) the All Share Price Index had dropped to 6,544.63 points, which is a loss of 105.69 points or 1.59 per cent. A turnover of over Rs. 900 million has been recorded through today’s transactions. As usual,…
While inaugurating the secondary market transactions of People’s Insurance Company today (12 January), its Managina Director D.P. Kumarage announced that the company would offer 50 per cent of its profits as dividends while responding to a query by Ada Derana Biz. While adding further, Kumarage said, “We wanted to list this company. The share market…
The northern region of Sri Lanka will welcome once again for the 7th consecutive year, the Jaffna International Trade Fair (JITF 2016). Considered by the people in the north as the largest exhibition and consumer fair, the event takes place from the 29th – 31st of January 2016 in Jaffna. The Exhibition which has grown…
The Commercial Bank of Ceylon has announced that for the first time in Sri Lanka, users of the Bank’s Online Banking facility can now make instant, real-time transfers of funds from their Commercial Bank accounts to accounts in other banks, via the LankaPay – Common Electronic Fund Transfer Switch (CEFTS) launched by LankaClear (Pvt) Ltd….
The bleak start to the year continued on the Colombo Bourse as ASI plunged for the sixth consecutive day with market conditions providing little or no incentives to the investors take positions in the battered stocks. ASI nose-dived to a 18 month low of 6,650.32 (down by 75.96 index points or 1.13%) while 20-scrip S&P…
Minister of Plantation Industries Navin Dissanayaka said that Tea Small Holders are contributing 73 percent to the tea production in Sri Lanka, at the foundation stone laying ceremony for the new Shrine Room held at its premises. He pointed out that the world tea market could be conquered by improving the quality of tea products…
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