Colombo stock market closed with negative returns on Tuesday amid the increase in treasury bill rates. Reflecting the weak investor sentiment, All Share index advanced to 7,035 mark but failed to maintain the optimistic momentum. Main share index shed 11.35 index points (-0.16%) to end at 7,020.80 while 20-scrip S&P SL index marginally declined by…
The government has decided to develop the Moragahahena town within the Horana Regional Secretariat Division into a strong economic sub-city. Towards this, the bus stand, public market, trade complex, the weekly fair, the public playground etc are to be developed speedily. The Urban Development Authority (UDA) is preparing to acquire 1.354 hectares of state land…
Greece probably isn’t a great place to be this week. The banks are closed, you can only withdraw a small amount from an ATM (if you can find one with any money left in it), and some petrol stations are out of fuel. The Greek government is playing a dangerous game of chicken with the…
Shares in Asia were mostly up on Tuesday, beginning to recover some of Monday’s losses despite fears of a Greek debt default. In Japan, the Nikkei 225 share index was up 0.36% at 20,181.55points. EU leaders earlier warned Greeks that rejecting creditors’ proposals in a snap referendum called for Sunday would mean leaving the euro….
With a view to acquiring a controlling stake of Ocean India (Private) Limited, a company that manufactures knit fabric at Visakhapatnam in India, Textured Jersey Lanka PLC has decided to acquire the entirety of the issued shares Ocean Mauritius Limited (Ocean Mauritius), a company incorporated in Mauritius, which is the parent company of Ocean India.
India is to provide a grant of Rs. 105 billion to begin an island-wide emergency ambulance service in Sri Lanka utilizing 297 ambulances with the aim of taking a individual fallen ill or having met with an accident to hospital within the first few minutes. This emergency ambulance service begun as a non-profit earning venture…
Colombo bourse welcomed the announcement of the general election on a positive note on Monday. The ASI reported mild gains on another lackluster trading session as most of the investors continue to remain on sidelines, assessing the current political developments. The much awaited decision on dissolving the parliament was announced on last Friday and the…
The Ceylon Chamber of Commerce has conducted a statistical analysis on the Global Apparel sector along with a look at Sri Lanka’s Apparel sector’s performance. The study titled ‘Apparel Sector Statistical Analysis 2014,’ compiled by the Chambers Business Information Division, has covered a number of topics of importance. The analysis covers area such as, ‘Industry…
The World Bank Board has approved a $165 million credit for Sri Lanka to increase access to piped water services and improved sanitation in the Mullaithivu, Kilinochchi, Nuwara Eliya, Badulla, Monoregala, Kegalle and Ratnapura Districts. Around 450,000 people are expected to benefit under the project from improved access to safe piped water, contributing to the…
Greece closed its banks and imposed capital controls on Sunday to check the growing strains on its crippled financial system, bringing the prospect of being forced out of the euro into plain sight. After bailout talks between the leftwing government and foreign lenders broke down at the weekend, the European Central Bank froze vital funding…
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