Ceylon Leather Products PLC subscribed to 3,064,485,280 shares in South Asia Textile Industries Lanka (Private) Limited through a Rights Issue for Rs. 306,448,528 thus increasing its hold in South Asia Textile Industries to 80.39 percent. Meanwhile, Lanka Century Investments PLC which is the controlling shareholder of Ceylon Leather Products PLC subscribed to 480,703,600 shares in…
President Mahinda Rajapaksa today welcomed the formation of the New Development Bank (NDB) by the five Brics countries — Brazil, Russia, India, China and South Africa — at the 6th BRICS summit in Brazil, saying it will assist emerging nations significantly. “Sri Lanka welcomes the initiative of BRICS leaders to establish a new Development Bank….
Internet giant Google has reported a 22% jump in revenue during the second quarter period from March to June compared with a year earlier. Revenue rose to $16bn (£9.4bn) and profits were up 6% to $3.4bn, said the firm in its earnings report. Strong demand for Google’s advertising helped boost revenues above expectations. Google also…
Malaysia Airlines System Bhd, whose plane carrying 298 passengers was shot down over eastern Ukraine, took a route that Qantas Airways Ltd and several other carriers avoided. Qantas hasn’t been using that route for a few months, said Andrew McGinnes, a spokesman for the Australian carrier, while Cathay Pacific Airways Ltd said it hasn’t been…
Toyota wants to help you scream at your unruly kids. The latest version of the company’s Sienna minivan has a feature called “Driver Easy Speak.” It uses a built-in microphone to amplify a parent’s voice through speakers in the back seats. Toyota says it added Easy Speak “so parents don’t have to shout to passengers…
Colombo stock market wrapped the weekly operations in opposite directions where main bourse witnessed marginal returns with turnover crossing LKR 1bn mark. ASI index gained 0.33 index points to close at 6,722.20 while S&P SL20 index declined 8.49 index points or 0.23% to end at 3,738.98. Gains were recorded in index heavy stocks such as…
Most parts of the financial sector consolidation programme launched by the Central Bank of Sri Lanka could be completed by end this year and is scheduled to be completed within the first quarter of next year, said the Central Bank Governor. Under this programme, some15 transactions are expected soon and discussions are now going ahead,…
The proposal for a price cap on high-cost, short-term credit in the UK highlights the regulatory risks for non-standard lenders, Fitch Ratings says. It signals the potential for stricter rules in the UK that are closer to other countries in Europe and the US, as increased regulation extends from banks to shadow banking and consumer…
While complying with the Central Bank’s Financial Sector Consolidation Programme 2014, Asia Asset Finance PLC is preparing to for a Rights Issue to increase its core capital to Rupees One Billion. The company is to issue 279.7 million shares at Rs. 1.60 each in the proportion of one new ordinary share for every two ordinary…
Proving the adaderanabiz.lk news report on 24 June that the world renowned Boston Consulting Group has been selected to advice on the DFCC-National Development Bank amalgamation process, these two banks have informed the Colombo Stock Exchange of this fact. This announcement has stated that Boston Consulting Group (India) Private Limited has been selected to advice…
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