Italy’s economy has fallen back into recession, latest official figures show, after contracting for two quarters in a row. GDP, the value of all the country’s goods and services, shrank 0.2% in the second quarter of the year. The surprisingly weak number follows a 0.1% contraction in the first quarter. At the end of last…
Shang-Jin Wei, a professor of finance and economics at Columbia University’s Graduate School of Business located in New York City, started work today as Chief Economist of the Asian Development Bank (ADB). Wei will serve as ADB’s spokesperson on economic issues and head its Economics and Research Department, which leads policy research on development challenges…
Virtusa Corporation, a global business consulting and IT outsourcing company that combines innovation, technology leadership and industry solutions to transform the customer experience, today announced that its CEO Kris Canekeratne was given the ‘CEO of the Year’ award by World HRD Congress-Thought Leaders International at a grand awards ceremony in Mumbai. The ‘CEO of the…
Colombo equity market ended on a negative note despite non-banking financial segment (NBFI) gaining rapidly due to consolidation process. Core index shed 6.73 index points or 0.10% to end at 6,815.42 while 20-scrip S&P SL index declined by 17.30 index points to close at 3,743.03. Price declines in counters such as Ceylon Tobacco Company (closed…
Orient Garments PLC has appointed its Director Dr. Lawrence Mervyn Fritsgerald as Chief Executive Officer with effects from 4 August 2014.
While Cargills Bank has bought 70 percent shares of Capital Alliance Finance PLC, trusted sources told adaderanabiz.lk that Cargills Bank would endevour to further increase this share in the future. Cargills Bank bought 68 percent shares of Capital Alliance Finance through three agreements at Rs. 15.50 and Rs. 15.40 per share, another 02 percent was…
Mountaineer Elmo Francis who recently voyaged to climb Mt Everest was successful in achieving four altitude records for Sri Lanka. Amãna Bank, Sri Lanka’s only licensed commercial bank which is disengaged from any interest based transaction, partnered the local mountaineer on this record breaking expedition. Having planned to reach an altitude of 7500 meters by…
Hatton National Bank is to acquire 51% of the issued and fully paid up voting shares of Prime Grameen Microfinance Limited from Prime Lands (Pvt) Limited for Rs. 660 million. The transaction is expected to conclude on or before 30 September 2014. Once this transaction is complete, Hatton National Bank would carry out its microfinance…
Colombo bourse started the weekly operations on Monday with positive returns, recording a nearly one month high turnover of LKR 2.3bn. Core index gained 12.02 points (0.18%) to end at 6,822.15 whereas S&P SL 20 index marginally gained 0.91 points (0.02%) to end at 3,760.33. The gains were mainly led by price progressions in Ceylon…
When the liquidation case of Touchwood Investments PLC was taken up on 31 July, counsel appearing on behalf of the company informed courts that Touchwood Investments chairman and chief executive officer Lanka Wijendra Kiwulegedera is currently out of the island and that he would return only on 4 August (today). Accordingly, the case would be…
Video Story
