Following the Finance Minister’s assurance yesterday that the Central Bank of Sri Lanka would repay the bankrupt Golden Key Credit Card Company depositors, 2.1 million shares of Ceylinco Insurance Limited were traded through the Colombo Stock Exchange today (14 May). Each share has been traded at Rs. 1,602 and the value traded is over Rs….
Though Sri Lanka’s Islamic Banking and Finance (IBF) industry has a small assets base, it shows strong growth, as revealed on 13 May in Colombo. “In 2014, the Lankan IBF sector has grown by a strong 42% from 2013’s total assets. That is, 2013’s Rs 35 billion IBF assets have increased to Rs 50 Bn…
The Central Bank of Sri Lanka (CBSL) will take the responsibility of repaying the moneys deposited with the bankrupt, CBSL-unsupervised Golden Key Credit Card Company which belonged to Lalith Kotelawala, said Finance Minister Ravi Karunanayake. The Finance Minister gave this assurance following discussions with a group of Golden Key Credit Card Company depositors who had…
Colombo stock market witnessed negative returns on Wednesday despite the continued drop in T-bill yields for the ninth consecutive week. During the opening hours, bourse crossed 7,271 mark but failed to maintain the positive momentum gained in previous session. Main index shed 13.56 index points or 0.19% to close at 7,245.05 while 20-scrip S&P SL…
* Attracts world’s leading financial institutional investors Hemas Holdings PLC is pleased to announce that it has successfully completed its Rights Issue raising Rs 4.1bn of new capital to finance its expansion plans in healthcare and personal care. The capital raised is one of the most significant on the Colombo Stock Exchange in recent years,…
The Commercial Bank of Ceylon PLC has made a steady start to 2015, with profit after tax of Rs 2.509 billion for the three months ended 31st March, an improvement of 10.1% YoY. A robust YoYgrowth in loans and receivables coupled with customary strong deposit growth and lower cost of funds contributed to this growth…
A scheme backed by the government will include alternative job training, replanting projects and microloans. Mangroves are considered to be one of the world’s most at-risk habitats, with more than half being lost or destroyed in the past century. Conservationists hope other mangrove-rich nations will follow suit and adopt a similar protection model. Commenting on…
There is strong opposition currently brewing up towards the CEPA or Comprehensive Economic Partnership Agreement to be signed with India. While the signing of this agreement had been abandoned earlier due to such protests, during his recent visit to Sri Lanka, Indian Prime Minister Narendra Modi pointed out that signing this agreement was important. Meanwhile,…
The Supreme Court of Sri Lanka today rejected the Fundamental Rights (FR) petition seeking an independent inquiry into the controversial Central Bank Treasury bond issue and it’s Governor Arjuna Mahendran. Central Bank Governor Arjuna Mahendran, who was accused of being involved in irregular activities in the bond issue due to his son-in-law’s family firm securing…
Following the opening and marketing of a new boutique hotel in Trincomalee calling itself the ‘Calamander Bay’, The Calamander Group has clarified that this new hotel and its owners have nothing to do with the Group. A spokesman for Calamander stated: “The Calamander Group has no association of any sort with the boutique resort calling…
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