Colombo bourse started the weekly operations on positive note as both indices closed with higher returns. Benchmark All share price index marginally gained 4.45 points or 0.06% to end at 7,238.16 while 20-script S&P SL index gained 10.58 points or 0.26% to end at 4,019.00. The gains were mainly led by the price inclines in…
The Union Bank of Colombo PLC announced the voluntary resignations of four Directors to accommodate the representatives of its new investor, the Cayman Islands based Culture Financial Holdings. The independent non executive directors who thus resign are Dr. Harsha Cabraal PC, Suren Madanayake, Sunil Karunanayake who do not own any ordinary voting shares and non…
Union Bank of Colombo PLC confirmed that Culture Financial Holdings of the Cayman Islands has invested over Rupees 11 billion 420 million (Rs 11,420,474,984.70) enabling Union Bank to issue 742,156,249 ordinary voting shares of the company at Sri Lankan Rs. 15.30 each by way of a private placement and 218,281,250 warrants for Sri Lankan cents…
The Board of Investment of Sri Lanka signed an agreement with CMA-CGM Shared Service Centre Lanka (Pvt) Ltd to set up a business processing outsource center to provide services to the export market. The agreement who are signed by Dr. Lakshman Jayaweera, Chairman of Board of Investment of Sri Lanka and Mr. C S Ananda,…
Alibaba Group Holding Ltd, in its first big investment since raising US$ 25 billion in a record-breaking New York initial public offering, has bought 15 percent of Chinese hospitality technology provider Beijing Shiji Information Technology Co Ltd for 2.81 billion yuan ($458.66 million), Reuters reported today (28 September). The investment is expected to allow the…
Colombo stock market concluded weekly operations on a mixed note amid notable net foreign outflows. ASI marginally increased by 0.73 index points or 0.01% to end at 7,233.71 while 20-scrip S&P SL index declined by 4.60 index points or 0.11% to close at 4,008.42. Price appreciations in counters such as Good Hope (closed at LKR…
Following the shares of Asiri Central Hospitals PLC being de-listed from the official list of the Colombo Stock Exchange, the name of the company is to be changed to Asiri Central Hospitals Limited in accordance with the Companies Act of Sri Lanka. At the Annual general Meeting on 25 September the company authorized the sale…
Arpico Finance Company PLC has decided to accept the offer by Alfinco Insurance Brokers (Pvt) Limited to repurchase the shares held by Arpico Finance Company PLC in Alfinco Insurance Brokers (Pvt) Limited for Rs. 186,100,000 which amount has been independently arrived at by KPMG as being fair. All necessary regulatory approvals have been obtained.
Eight accuses found guilty of Sri Lanka’s largest VAT fraud case sentenced to 20-year imprisonment and fined approximately 30 billion rupees by the Colombo High Court.
The Asian Development Bank (ADB) has approved an $800 million loan facility to fund rural and national road upgrades in six provinces in Sri Lanka, that will significantly improve access of remote communities to markets, services, and jobs. “Providing all-weather road access to towns and villages in rural areas will bring greater development and prosperity…
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