While addressing the event to mark the commissioning of the third phase of the Norochcholai coal power plant which is Sri Lanka’s largest power generation project, a representative of the main contractor to the project China Machinery and Engineering Corporation (CMEC) said that the reliability of the plant has by now been increased. There was…
Colombo equities ended on Tuesday in the positive territory as the core index gained mere 1.13 points or 0.02% to close at 7,176.10 while S&P SL 20 index marginally gained 2.34 points or 0.06% to close at 3,976.76. Price progression in counters such as Hemas Holdings (closed at LKR 54.00, +4.7%), Nestle Lanka (closed at…
World famous American singer, song writer, musician, record producer and actor Lionel Richie is to arrive in Colombo in October for a gigantic performance. This musical extravaganza at the Sri Lanka Exhibition & Convention Centre on 11 October is to celebrate the 25th anniversary of Sri Lanka’s prominent construction company Access Group. Managing Director of…
Colombo share market started weekly operations on a negative note where both indices shed some of the hefty returns gained on last seven consecutive sessions. ASI declined by 43.71 index points or -0.61% to close at 7,174.97 while 20-scrip S&P SL index slipped by 41.21 index points or -1.03% to end at 3,974.42. Price declines…
The People’s Leasing & Finance PLC’s 15 million debenture issue of Rs. 100 each has been oversubscribed. The issue will close at 4.30 pm today (15 September) and the basis of allotment would be notified to the Colombo Stock Exchange in due course.
Hatton National Bank PLC, the premier private sector commercial bank in Sri Lanka, recently financed Softlogic Group’s strategic investment in the leading fashion brand ODEL, enabling the conglomerate to further strengthen its presence in the apparel and fashion accessories market. Softlogic purchased the shareholdings of Otara Gunawardene, and brothers Ajith and Ruchi Gunawardene (press release…
The net unrealized profits of the EPF share portfolio passed the Rs 10 billion mark on 11th September 2014. In addition, realized capital gains and dividends have amounted to Rs 3.4 billion so far, this year. This milestone was particularly significant since during the first half of 2014, there were allegations levelled at the EPF…
The boss of Emirates has suggested that airlines would have avoided flying over Ukraine long before flight MH17 crashed, if information about missiles in the area had been passed on. Sir Tim Clark told the BBC there had been evidence of weapons for weeks. But he claimed those in the know didn’t share it with…
The Union Bank of Colombo has appointed Indrajith Wickramasinghe as its Chief Executive Officer Designate with effect from 15 October 2014. Mr. Wickramasinghe will take over as Chief Executive Officer from 15 November 2014. He fills the vacancy created by the retirement of Anil Amarasuriya as Director/ Chief Executive Officer with effect from 15 November…
Otara along wither brothers Ajit and Ruchi Gunewardene sold their entire shares in ODEL PLC this morning (11 September) at the Colombo Stock Exchange. Most were taken by surprise by this sudden development in one of the most sought after fashion retail outlet entity. The initial response from sources revealed that Otara Gunewardene had decided…
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