The Colombo Stock Exchange (CSE) adopts Global Industry Classification Standard (GICS) to classify its listed companies. This was officially launched at the ceremony held on December 02, 2015 to mark the 30th anniversary of the CSE. Why sector classifications matter? You may have heard investment advisors and other investment ‘gurus’ saying you should diversify your…
ASI edged lower for the fifth consecutive session on Thursday amid lack of fresh corporate news to spur buying and ASI closed 15.68 points or 0.2% lower at 6,825.87. The S&P SL 20 indexed edged slightly higher marking a mixed session to close at 3,617.45 with a gain of 1.44 points or 0.04%. However, foreign…
Actis Investment Holdings SL Limited, the second largest shareholder in Asiri Hospitals Holdings Limited sold its ownership today (10 December). While this transaction was 371,085,695 shares of Asiri Holdings at Rs. 24 each, these were bought by Merrill Lynch Pierce Fenner & Smith TPG Growth III SF Pte. Ltd. Both parties are foreign investment funds….
Sri Lanka’s premier connectivity provider, Dialog Axiata PLC, announces the launch of Cumulus, its cloud services portfolio, establishing the nation’s leading business solutions hub, focused on delivering agility and innovation. Designed to meet the business imperatives of speed to market, cost efficiency, agility and innovation, Cumulus brings together the knowledge and strengths of Dialogs best-in-class…
The proposed increase in charges for communication towers proposed by the 2016 budget would not cause any considerable impacts on the sector, said Dialog Axiata Director/Group Chief Executive Officer Dr. Hans Wijesuriya. He said in response to a question raised by Ada Derana Biz during a function at the Dialog head office on Colombo. While…
Colombo equities extended the losing streak for the fourth consecutive session on Wednesday amid the increase in treasury yields after six weeks of decline. Benchmark index swung between gains and losses to end the session on negative side at 6,841.55, down by 7.54 index points or 0.11%. S&P SL20 index shed 8.38 index points (-0.23%)…
Ceylon Biscuits Ltd (CBL) was recently recognized by the Ceylon Chamber of Commerce (CCC) as one of the top ten corporate citizens in the country at the recently concluded ‘Best Corporate Citizen Sustainability Awards 2015,’ walking away with 5 accolades. This marks the 8th occasion that the company has been ranked amongst the top ten…
Prime Minister Ranil Wickremesinghe told Parliament today (09 December) that an economic and technical cooperation agreement should be signed with India instead of the Comprehensive Economic Partnership Agreement (CEPA). While speaking further, the Prime Minister said that this proposed agreement would be only for the goods and technical sector and would not be applicable on…
Company to deploy Sri Lanka’s first fully integrated ‘Rapid Charging Points’ for Electric Vehicle’s Bringing to light the significance of embracing sustainable energy and giving the best of products and services to the nation as a result, Sunrise Engineering (Pvt) Ltd a pioneer in the solar power systems were recently awarded with the contract for…
Makers of alcoholic beverages in Sri Lanka will be able to pass on back to back increases in excise duties to consumers without worrying about them shifting to the more affordable illicit market, Fitch Ratings says in a new report. Rising disposable income will absorb the higher duties, and Fitch believes the inelastic demand and…
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