Colombo stock market spun back to the greener zone on Wednesday snapping the seven day losing streak. Benchmark index rebounded strongly to touch 6,587 mark during the opening hours but failed to sustain the momentum and closed with mild increase of 20.02 index points or 0.31% to end at 6,554.37. Reducing losses in blue-chips, 20-scrip…
The Sri Lanka Customs says that it is prepared to release the vehicles under its charge for which Letters of Credit (LCs) had been opened before the budget. The importers could get their vehicles released under the relevant conditions from morning on 13 January, Customs spokesman Leslie Gamini told the Ada Derana Biz.
What this government did was to free the controlled value of the Rupee and that currently the real value of the rupee as against the dollar is being decided according to the supply and demand in the market, said State Minister for International Trade, Sujeewa Senasinghe. While speaking at a media conference the State Minister…
Boosting Sri Lanka’s international investment profile, two top global multinationals are moving for Sri Lanka entry –they are the world’s largest shipper Maersk Line and the frontline warrior battling the global diabetes pandemic, Nordisk A/S-and yet to be identified two other giants in green-tech and water management are also busy studying a Sri Lanka entry,…
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…
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