Ready to play an active role in development of financing opportunities EXIM Bank of Malaysia has identified that Sri Lanka has a great need in infrastructure development especially roads, highways, power and renewable energy resources like solar, mini-hydro generation during its discussions with the Finance Ministry, said the bank’s president Dato’ Adissadikin Bin Ali when…
Colombo equities managed to regain lost grounds on Wednesday where both indices witnessed hefty returns amid net foreign inflows. Core index bagged 83.36 index points or 1.16% to end at 7,288.83 while 20-scrip S&P SL20 index increased by 53.09 index points or 1.32% to end at 4,064.84. Price inclines in Commercial Bank (closed at LKR…
The Hayleys Group led by Sri Lanka’s prominent businessman Dhammika Perera who holds the monopoly in Sri Lanka’s tile market today acquired 60.6 percent shares of the architectural aluminium extrusions producer Alufab PLC for Rs 167.9 million. In this Crossing, 7.3 million shares were acquired at Rs. 23 each. Hayleys Groups already has the aluminium…
Japanese carmaker Toyota is recalling 1.75 million vehicles worldwide over faulty brake installations and fuel component issues. The latest brake defect is found in some models of Toyota’s Crown Majesta, as well as the Noah and Voxy models produced between June 2007 and 2012. Toyota told the BBC it was not aware of any crashes,…
Hemas Power PLC has entered into an agreement for the sale of its entire 60 million shares constituting 50 percent of the total issued voting shares of the thermal power plant Heladhanavi Limited to Lakdhanavi Limited for Rs. 531,753,373. Meanwhile, Hemas Holdings PLC is to divest its investment in Hemas Power PLC to a consortium…
In its fight against illegal fishing activities worldwide, the European Commission has proposed to ban imports of fisheries products from Sri Lanka to tackle the commercial benefits stemming from illegal fishing. The move comes after four years of intense dialogue with the country after which it could not demonstrate that it sufficiently addressed illegal, unreported…
Colombo equities swung between gains & losses on Tuesday and closed with mixed returns. Benchmark All share price index gained 21.25 points or 0.30% to end at 7,205.47 while S&P SL 20 index lost 2.80 points or 0.07% to end at 4,011.75. Price appreciation in counters such as Sri Lanka Telecom (closed at LKR 51.20,…
MCSL Financial Services Limited and MBSL Savings Bank Limited are to be amalgamated with the Merchant Bank of Sri Lanka. Accordingly, the name of the Merchant Bank of Sri Lanka PLC would be changed to Merchant Bank of Sri Lanka & Finance PLC after due registration with the Registrar of Companies.
Global oil prices have fallen again amid worries about slow global growth and reports that key oil producers want to maintain current output levels. Brent crude fell to a near four-year low of $87.74 a barrel earlier, before recovering some ground to $88.46. US light crude oil was down $0.93 at $84.76, close to a…
Softlogic Group has increased its shares in Sri Lanka’s leading fashion retail chain ODEL to 93.2 percent. Recently, the Softlogic Group led by prominent Sri Lankan businessman Ashok Pathirage bought 45.16 percent of shares in ODEL from its pioneer Otara Gunawardene and her family members for Rs. 2.7 billion. Following this, the company’s subsidiaries Softlogic…
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