The Board of Directors of United Motors Lanka PLC approved a report dated 22 May 2015 on the lands and owned and occupied by the company. The properties on which the report has mentioned are the ones at Hyde Park Corner, Colombo 02, Majeed Place, Orugodawatte, Vauxhall Street, Colombo 02, Maligawa Road, Ratmalana and Kandy…
Government revenue within the first three months when compared to the same period last year has grown by 08 per cent, said Finance Minister Ravi Karunanayake. Meanwhile, speaking to the media he said that Sri Lanka Customs chief Jagath P. Wijeweera had resigned due to personal reasons and that the government has accepted his resignation….
In only its first 72 hours on mainland movie screens, the Indian satirical comedy PK rode strong word of mouth to become the highest grossing Indian film in Chinese box office history. Mind you, the hurdle to breaking the box office record wasn’t that high—these are not Transformers numbers we’re talking about. But still, a…
Colombo bourse started the weekly operations on a flat note where All Share Price index marginally declined by 3.98 points or -0.05% to end at 7,284.76 while S&P SL 20 index declined by 13.32 points (-0.33%) to end at 4,053.82. Today’s losses were mainly driven by price depreciations in index high cap counters such as…
* Diversified conglomerate posts consolidated revenue of Rs. 16.3B in FY15, up 11.1% YoY despite challenges Diversified conglomerate Sunshine Holdings PLC posted a consolidated revenue of Rs. 16.3 billion in FY15, an improvement of 11.1% year-on-year (YoY). Key business segments, particularly Healthcare and Agribusiness, grew above industry averages despite challenging conditions. There was growth…
Unless and until a written assurance is provided by the Monetary Board of the Central Bank of Sri Lanka that the Golden Key depositors funds would be returned to them, the case before the Supreme Court which has been dragging on for around six years would not be withdrawn, says the Golden Key Depositors’ Association…
Colombo equities wrapped the weekly operations on a mixed note amid the positive earnings and dividend announcements. Main index advanced to 7,294 mark in the opening hours but failed to maintain the momentum. All share index gained 15.05 index points (+0.21%) to close at 7,288.74 while S&P SL20 index shed 1.49 index points or 0.04%…
Fitch Ratings Lanka has revised Sri Lanka-based Pan Asia Banking Corporation PLC’s (PABC) Outlook to Negative from Stable. The agency has affirmed PABC’s National Long-Term Rating at ‘BBB(lka)’ and the rating on PABC’s outstanding subordinated debentures at ‘BBB-(lka)’. The Negative Outlook reflects the continued deterioration in PABC’s capitalisation amid aggressive loan growth. Fitch believes there…
The Central Bank of Sri Lanka which unexpectedly reduced it policy interest rates which decide the interest rates of commercial banks in April, has decided not to revise it this month (May). Though currently inflation remains low, the increased borrowings by the state and private sectors has increased pressure on the exchange rates. The Central…
Hayleys PLC closed its financial year ending March 2014/15 on a high, consolidating the growth momentum generated over past years. In its filing to the Colombo Stock Exchange, the group reported a 32 percent increase in Profit After Tax (PAT), to close the year with Rs. 4.9 billion. Sector wise contribution was led by the…
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