East West Properties PLC is to purchase 36 million ordinary shares of Weligama Hotel Properties Limited at Rs. 09 per share. The total value of this major transaction is Rs. 324 million.
In line with the decision announced in the Budget 2015 to increase the deposit insurance cover by fifty percent, the Sri Lanka Deposit Insurance and Liquidity Support Scheme (SLDILSS) will increase its deposit insurance coverage per-depositor per institution from Rs.200,000/-to Rs. 300,000/, with effect from 01.01.2015. The Regulations on the revised insurance cover has been…
Colombo stock market rebound on Wednesday where both indices witnessed positive returns. Main index bagged 25.20 index points or 0.35% to end at 7,263.50 while 20-scrip S&P SL index gained slightly by 6.58 index points (+0.16%) to close at 4,069.75. Price inclines in Commercial Leasing (closed at LKR 4.70, +9.3%), Dialog Axiata (closed at LKR…
Gold, the ultimate inflation hedge, isn’t much use to investors these days. Oil is in a bear-market freefall that began in June, spearheading the longest commodity slump in at least a generation. The collapse means that instead of the surge in consumer prices that gold buyers have been expecting for much of the past decade,…
A global arms trade treaty regulating the multibillion-dollar business has come into force – a move hailed as “a new chapter” by UN chief Ban Ki-moon. He said he hoped the treaty would help prevent the transfer of weapons to “warlords, human rights abusers, terrorists and criminal organisations”. The deal also bans arms supplies if…
Colombo equities ended in negative territory today as core index lost 13.52 points (-0.19%) to end at 7,238.05 while 20- script S&P SL index merely lost 0.44 points (-0.01%)to end at 4,063.17. Today’s losses were mainly driven by blue-chips such as Access Engineering (closed at LKR 34.70, -3.9%), DFCC Bank (closed at LKR 218.50, -2.7%)…
When a new government is formed he would negotiate directly with the International Monetary Fund (IMF) in Washington instead of dealing with ‘local jokers’, said Opposition Leader Ranil Wickremesinghe while addressing a forum in Colombo with common opposition candidate Maithripla Sirisena to explain their future strategies to the business community. While speaking further Mr. Wickremesinghe…
Bajaj Auto shares gained more than 1 per cent on Monday, with the stock outperforming the broader auto sub-index on the BSE in early trade. India’s largest exporter of motorcycles and three-wheelers said on Friday that it had bagged an order for 1.25 lakh units of Discover-125M motorcycles from Sri Lankan government. The “repeat order”…
The order was secured through Bajaj distributor in Sri Lanka, David Pieris Motor Company, after a detailed evaluation process by the Government of Sri Lanka. “The company has now secured a repeat order from them through the company’s distributor in Sri Lanka for the supply of 1.25 lakh units of Discover 125M, which the company expects…
Colombo stock market started its weekly operations on a mixed note where main index failed to maintain the momentum gained on last week. Main index marginally shed 1.03 index points or 0.01% to close at 7,251.57 while 20-scrip S&P SL20 index slightly increased by 0.82 index points (+0.02%) to end at 4,063.61. Price declines in…
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