Though the Blue Mormon was declared the state butterfly in June, very little information is available about the winged insect. To overcome this hurdle, forest minister Sudhir Mungatiwar announced that his department would be collaborating with the Sri Lankan government to study the species in detail. The decision was taken at a recent meet between…
Colombo equities concluded the weekly activities in bullish sentiment for the third consecutive session despite foreign selling as the bargain hunters dominated the market activities. All Share Price index gained notably by 77.38 index points or +1.06% to end at 7,350.52 whilst S&P SL 20 index gained 57.99 points (+1.45%) to end at 4,049.15. The…
The shareholders of DFCC Bank PLC and DFCC Vardhana Bank at Extraordinary General Meetings held on 28 August have approved the proposed amalgamation of both banks.
The prices at the Colombo tea auctions again tumbled in the face of the decline in demand from Sri Lanka’s tea markets in Russia and the Middle East, said tea broking companies. Depreciation of Russia’s Ruble and the crises in the Middle East has adversely affected the global tea market. In the face the economic…
Chinese billionaire Wang Jianlin, one of the country’s best-known businessmen, has said China needs to drop unrealistic official economic growth targets. The Chinese government is targeting growth of around 7% this year. But Mr Wang said his country needed “to drop the fantasy of keeping a high growth rate of 7% or 8%”. His comments…
Colombo stocks stretched gains for the second consecutive day on Thursday despite the overseas investors continued to stand on the selling side. All share index closed at 7,273.14, up by 33.04 index points or 0.46% while S&P SL20 index touched 4,000 mark but closed lower at 3,991.16, up by 22.59 index points (+0.57%). Index advancement…
Asia Siyaka Commodities PLC is to set up a new state-of-the-art warehouse through its subsidy Asia Siyaka Warehousing (Private) Limited. This warehouse would be built with a storage capacity of 100,000 square feet on a plot of land owned by Asia Siyaka Warehousing (Private) Limited.
At its annual general meeting held on 26 August 2015, the shareholders of Singhe Hospitals PLC passed the ordinary resolution to the effect that the sum of Rs. 140 million of the IPO funds would be used to settle the term loan facility obtained from the Bank of Ceylon as stated in the prospectus and…
Colombo stock market closed with mixed note on Wednesday with slender returns, after the 3.2% slump in prior two sessions. In the opening hours, benchmark index crossed 7,285 mark but the selling pressure led by foreign investors drove the index down despite the media reports on a resolution sponsored by USA supporting Sri Lanka and…
Lanka India Oil Company (LIOC), the Sri Lankan entity of Indian Oil Corporation Ltd expects to enter the lubricants market of Malaysia and Indonesia, said the LIOC Managing Director. In its Annual Report, LIOC Managing Director Subodh Dakwale informed the shareholders that the company’s growth plans are not directed only at the local markets. Indian…
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