Colombo bourse started weekly operations after Christmas break with negative returns on Monday. Investor participation continued to decline marking another lackluster trading session and the volume reached 21 month low of 4.8mn shares. Benchmark index advanced to 6,859 mark during the opening hours but failed to maintain the optimistic momentum to close lower at 6,828.51,…
At a recent Cabinet meeting the President has decided to cancel the 2016 budgetary proposal to increase the duty on electric cars from the existing 5 per cent to 50 per cent. Joint Cabinet spokesman and minister Gayantha Karunatilleke said that decision had been taken while considering the requests from various parties. Ada Derana Biz…
Venora International Projects (Pvt) Ltd is an Engineering Company which has contributed its expertise to several huge projects in Sri Lanka. Deshamanya Sagara Gunawardana, who is the Chairman of Venora International which is an engineering company with the highest ICTAD standards had this to say during an exclusive interview with Ada Derana Biz 24X7:
Reuters – Oil prices fell on Monday after the long Christmas weekend, with U.S. crudes defending a newly gained premium over internationally traded Brent contracts in quiet trading ahead of the end of the year. Front-month U.S. West Texas Intermediate (WTI) futures were trading at $37.87 per barrel at 0311 GMT, down 23 cents from…
How do used cars fare by mileage in Sri Lanka? Carmudi analysed thousands of its car listings from various Sri Lankan cities to find out. The research team gathered and compared averages of mileage based on brand, fuel type, as well as age, with cars ranging from two to five years old. The average mileage…
An angel of the Lord appeared to them, and the glory of the Lord shone around them, and they were terrified. But the angel said to them, “Do not be afraid. I bring you good news that will cause great joy for all the people. Today in the town of David a Savior has been…
Reuters – Sri Lanka will receive $1 billion through foreign exchange remittances from offshore investors within a month, Finance Minister Ravi Karunanayake told Reuters on Wednesday, a move that could boost the island nation’s faltering reserves. “There will be $500 million inflow this month and another $500 million inflow before Jan. 20 from foreign investors,”…
Fitch Ratings Lanka has assigned Commercial Bank of Ceylon PLC’s (CB; AA(lka)/Stable) proposed Basel II-compliant subordinated debentures of up to LKR7bn an expected National Long-Term Rating of ‘AA-(lka)(EXP)’. The proposed issuance, which will have tenors of five and ten years and carry fixed coupons, will be listed on the Colombo Stock Exchange. CB expects to…
Colombo equities wrapped the weekly operations for holidays on Wednesday with marginal gains. Main index declined to 6,846 mark during the first half but regained to end the session at 6,858.64, up by 4.07 index points or 0.06%. However, 20-scrip S&P SL index declined by 1.35 index points or 0.04% to close at 3,603.90. Price…
SriLankan Airlines acted swiftly to minimize inconvenience to passengers, after an aircraft engine cowling (outer case) was damaged on the ground at Bangkok’s Suvarnabhumi Airport, resulting in the Bangkok-Colombo Flight UL883 being cancelled. The incident took place when a baggage cart operated by the airport’s ground handlers veered into the Airbus A330-300 aircraft and damaged…
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