The Colombo Stock Exchange (CSE) has embarked on paperless meetings using iPad enabled BoardPAC technology supplied by IronOne Technologies (Private) Limited. BoardPAC is a leading iPad enabled Board meeting automation solution and is the principal platform for paperless governance in more than 15 countries regionally including Malaysia, South Africa, Singapore, Bangladesh and Indonesia. BoardPAC is…
Chamath Palihapitiya isn’t exactly a household name outside of Silicon Valley. But within the high-tech community, he’s known as a sharp investor and executive who made it big when Facebook went public. His venture capital firm, the Social+Capital Partnership (or Social Capital), has invested in fast-growth startups like Slack, Sprig, and Wealthfront. He became the…
In a statement issued, the Securities & Exchange Commission of Sri Lanka says that with effect from the 01 July 2015, Lanka Rating Agency Limited (LRA) is not entitled in law to carry on business as a Credit Rating Agency nor review ratings; i.e. LRA is not entitled to carry on the business of assessing…
Access Engineering PLC has invested in 100 per cent and 50 per cent of ordinary shares of Horizon Holdings Ventures (Pvt) Ltd and Horizon Holdings (Pvt) Ltd for a consideration of Rs. 273.6 million and Rs. 250 million respectively. Incorporated in June 2015 and March 2014, Horizon Holdings Ventures (Pvt) Ltd and Horizon Holdings (Pvt)…
Colombo stock market closed with negative returns on Tuesday amid the increase in treasury bill rates. Reflecting the weak investor sentiment, All Share index advanced to 7,035 mark but failed to maintain the optimistic momentum. Main share index shed 11.35 index points (-0.16%) to end at 7,020.80 while 20-scrip S&P SL index marginally declined by…
The government has decided to develop the Moragahahena town within the Horana Regional Secretariat Division into a strong economic sub-city. Towards this, the bus stand, public market, trade complex, the weekly fair, the public playground etc are to be developed speedily. The Urban Development Authority (UDA) is preparing to acquire 1.354 hectares of state land…
Greece probably isn’t a great place to be this week. The banks are closed, you can only withdraw a small amount from an ATM (if you can find one with any money left in it), and some petrol stations are out of fuel. The Greek government is playing a dangerous game of chicken with the…
Shares in Asia were mostly up on Tuesday, beginning to recover some of Monday’s losses despite fears of a Greek debt default. In Japan, the Nikkei 225 share index was up 0.36% at 20,181.55points. EU leaders earlier warned Greeks that rejecting creditors’ proposals in a snap referendum called for Sunday would mean leaving the euro….
With a view to acquiring a controlling stake of Ocean India (Private) Limited, a company that manufactures knit fabric at Visakhapatnam in India, Textured Jersey Lanka PLC has decided to acquire the entirety of the issued shares Ocean Mauritius Limited (Ocean Mauritius), a company incorporated in Mauritius, which is the parent company of Ocean India.
India is to provide a grant of Rs. 105 billion to begin an island-wide emergency ambulance service in Sri Lanka utilizing 297 ambulances with the aim of taking a individual fallen ill or having met with an accident to hospital within the first few minutes. This emergency ambulance service begun as a non-profit earning venture…
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