At its annual general meeting held on 26 August 2015, the shareholders of Singhe Hospitals PLC passed the ordinary resolution to the effect that the sum of Rs. 140 million of the IPO funds would be used to settle the term loan facility obtained from the Bank of Ceylon as stated in the prospectus and…
Colombo stock market closed with mixed note on Wednesday with slender returns, after the 3.2% slump in prior two sessions. In the opening hours, benchmark index crossed 7,285 mark but the selling pressure led by foreign investors drove the index down despite the media reports on a resolution sponsored by USA supporting Sri Lanka and…
Lanka India Oil Company (LIOC), the Sri Lankan entity of Indian Oil Corporation Ltd expects to enter the lubricants market of Malaysia and Indonesia, said the LIOC Managing Director. In its Annual Report, LIOC Managing Director Subodh Dakwale informed the shareholders that the company’s growth plans are not directed only at the local markets. Indian…
A slump in Chinese shares has prompted stock markets across Asia, Europe and the US to fall sharply. Why is this so significant? ________________________________________ What’s behind the fall in China? The wider story is that China’s economic growth is slowing and there are concerns that the transition to a slower and more sustainable rate of…
Emirates, a global connector of people, places and economies, has announced a second daily A380 service to Frankfurt, adding 1,155 seats a week on the route, with 280 in First Class and Business Class. Commencing 1st January 2016, Emirates flights EK47/48, currently operated by a Boeing 777-300ER, will be up-gauged to an A380. The first…
Colombo bourse extended the bearish momentum for the second consecutive session with severe losses amid notable sell offs in blue chips. Benchmark All Share Price index drop significantly by 99.51 points or 1.36% to end at 7,231.58 while S&P SL 20 index fall below the 4,000 mark to end at a 6-week low of 3,982.96…
Lanka Orix Leasing Company PLC has appointed Rajah Mahinda Nanayakkara as its Chairman with effect from 25 August 2015. He fills the chair following the retirement of Mrs. R.L. Nanayakkara.
Chinese stocks are again down, a day after their worst plunge since 2007 caused market losses around the world. The global sell-off was driven by fears that China’s slowing growth might pull down other economies. The benchmark Shanghai Composite fell 6% on Tuesday, after falling 8.5% on Monday – overnight, stocks in Europe and the…
At the conclusion of the parliamentary election a new government has been formed under the Premiership of Hon. Ranil Wickremesinghe. It is important to emphasise the need for introducing immediate policy reforms to accelerate economic growth and development. The new government’s manifesto sets out a major reform program. In this regard, the Pathfinder Foundation (PF)…
Colombo equities plunged 1.87% or 140.08 index points on Monday to close at a 3-week low of 7,331.09, suffering its worst one day fall since February 2015. The market faced severe selling as investor’s off-loaded shares on profit taking and global growth concerns. Most of Asian markets suffered today from major losses on fears of…
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