So fare 12 banks and 57 non-banking financial institutions have submitted their proposals under its consolidation of banks and non-banking institutions programme, says the Central Bank of Sri Lanka (CBSL). The proposals submitted by these institutions are for consolidations, buying and introducing capital. The Monetary Board has approved in principle 19 proposals for consolidation and…
President Noritake Group President, Mr. T. Ogura who was on a recent visit to Sri Lanka commended the Company’s performance during the last financial year and forecasted steady and greater growth figures during the year to come. During this brief visit to Colombo, Mr. Ogura also paid a courtesy call on H.E. President Mahinda Rajapaksa…
Dipped Products PLC the leader in global non-medical rubber glove market and a subsidiary of the Hayleys Group, posted steady financial performance in 1Q of 2014-15. In a filing to the Colombo Stock Exchange, Dipped Products reported a turnover of Rs. 8,741 Mn and a Profit Before Tax (PBT) of Rs. 441 Mn for the…
Colombo equity market closed its weekly operations on a negative note where core index marginally slipped to negative territory. ASI end at 6,810.13 points shedding 3.77 index points or 0.06% while 20-scrip S&P SL index declined by 13.09 index points or 0.35% to close at 3,759.42. Price depreciations in counters such as Ceylon Tobacco (closed…
Bogala Graphite Lanka PLC is to begin an exploration programme at its fully owned Rangala mines. The Rangala mines situated eight kilometers southeast of the of the Bogala mines has been identified as very rich in high purity graphite. It last operated as an active mine in 1983. Bogala Graphite Lanka has applied for a…
Seylan Bank recorded an impressive performance with Profit before Income Tax reaching Rs 1,863 Million for the 6 months ended 30th June 2014. Profits after Tax reached Rs 1,213 Million a 21% increase compared to the Rs 1,002 Million reported in the corresponding 6 month period in 2013. The quarterly PAT figure of Rs. 698…
The Central Bank of Sri Lanka (CBSL) has advised Central Investments and Finance PLC (CIFL) that it has been included in the Bank’s Financial Sector Consolidation Programme 2014. The CBSL has appointed the firm of Chartered Accountants, KPMG Sri Lanka in the list of approved auditors to carry out the due diligence, valuation and information…
The latest data released after a few hours of the International Monetary Fund (IMF) warning that Sri Lanka should focus on keeping its inflation low reveals that inflation is rising speedily. The data released by the Department of Census and Statics based on the Colombo Price Index shows that Sri Lanka’s inflation in July has…
Colombo shares closed on Thursday in positive territory as main Index advanced by 12.06 points (+0.18%) to end at 6,813.90 while S&P SL 20 Index advanced by 4.33 points (+0.11%) to end at 3,772.51. Market gained 435.28 points, +7% during the month. Total market turnover for the day was LKR 1.0bn. Access Engineering made the…
UPDATED:: An agreement has been reached by Union Assurance PLC, a subsidiary of John Keells Holdings PLC to divest 78 percent stake, which is approximately Rs. 3.5 billion in its General Insurance business to Fairfax Asia Limited. While commenting on this transaction, John Keells Group Deputy Chairman and Union Assurance Chairman Ajit Gunawardena told adaderanabiz.lk…
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