Central Finance Company PLC proposes to acquire shares in the licensed finance leasing entity Isuru Leasing Company Limited and thereafter amalgamate this business with Central Finance Company. This is in accordance with the Central Bank’s Consolidation of Financial Institutions programme. Central Finance Company entered into a share sale and purchase agreement to acquire a majority…
Fitch Ratings Lanka has affirmed Standard Chartered Bank, Sri Lanka Branch’s (SCBSL) National Long-Term Rating at ‘AAA(lka)’. The Outlook is Stable. KEY RATING DRIVERS SCBSL’s rating is at the highest end of the National Rating scale and reflects the credit profile and financial strength of Standard Chartered Bank (SCB; AA-/Negative). SCB’s rating is higher than…
Global oil prices have fallen to their lowest level in more than two years after Saudi Arabia cut its official selling price. Concerns of oversupply after higher output in the US, together with forecasts of lower global demand by the International Energy Agency (IEA), are driving prices down. Brent crude fell by more than 1%…
The Colombo Stock Exchange (CSE) in collaboration with the Securities and Exchange Commission of Sri Lanka (SEC) will host a Capital Market Conference in Sri Lanka on Thursday the 9th of October 2014. The event is scheduled to be held at the Cinnamon Lakeside Hotel in Colombo. His Excellency the President Mahinda Rajapaksa will inaugurate…
Colombo equities rallied for the fifth consecutive day with the backing of high cap counters. During the first two days of the month market inclined by 98.91 points (1.4%) while witnessing net foreign outflow of LKR 469mn. ASI gained 57.97 index points or 0.79% to end at 7,351.05 while 20-scrip S&P SL index increased by…
Alliance Finance Company PLC sold 1,452,878 shares (19.53 percent) of Arpico Finance Company PLC to Associated Motor Finance PLC at Rs. 166 per share today. This share transaction was done under the Central Bank’s Financial Sector Consolidation Programme.
The Central Bank of Sri Lanka (CBSL) decided to reject all bids received at the Treasury Bills auction today (01 October). The Public Debt Department of the CBSL states that the bank issued Rs. 1.5 billion worth 06 Month Treasury Bills and Rs. 4.5 billion worth 12 Month Treasury Bills for auction for this week….
Colombo equities strengthen the gains on Wednesday as both indices closed with notable returns. Main index gained 40.94 points or 0.56% to end at 7,293.08 while S&P SL20 index gained 26.81 points or 0.66% to end at 4,065.11. The gains were led by the price progression in counters such as Dialog Axiata (closed at LKR…
The board of directors of Nation Lanka Finance PLC have decided to divest its entire shareholding of three million ordinary shares representing 75 percent of shares at Rs. 10.50 each, totaling Rs. 31,500,000 of its subsidiary Nation Lanka Capital (Private) Limited to Protege Investment (Private) Limited of Colombo 7.
Associated Motor Finance Company PLC has bought 3,018,617 shares of Arpico Finance Company PLC at Rs. 66 per share. This is approximately 40.59 percent the total number of shares in issue in Arpico Finance Company. With Associated Motor Finance Company already holding 55,000 shares in Arpico Finance, the current purchase increases its stake to 3,073,617…
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