Updated: The Touchwood Investments PLC liquidation case was called before the Commercial High Court in Colombo today (07 August) and the lawyers appearing on behalf of the company’s Chairman/Chief Executive Officer Lanka Wijendra Kiwulegedera requested for further time till 25 August 2014 to submit the book of accounts and details of the assets and liabilities…
A data privacy campaigner has signed up 25,000 people to a “class action lawsuit” being taken against Facebook. Max Schrems alleges that the way the social network monitors its members’ activity on and off the site puts it in breach of EU laws. As part of the claim, he also alleges that the company co-operated…
The DFCC Bank Debenture Issue has been oversubscribed and hence will close at 4.30 pm today (07 August). The issue is for 30 million Senior, Unsecured, Redeemable, Rated Debentures of DFCC Bank at Rs. 100.00 each with the option to issue up to 20 million debentures in the event of an oversubscription. Subscriptions have been…
Maruti Suzuki, the country’s largest car maker is reportedly gearing up to launch its new Swift facelift in India in November this year, according to reports. If you are planning to buy a hatchback, we suggest you to wait for few more months as the auto market in India is getting ready to welcome new…
Colombo shares regained the lost ground on Wednesday as both indices closed with positive returns. Benchmark All Share Price index closed at a 34-month high of 6,833.26 with a gain of 17.84 points or 0.26%. S&P SL 20 index gained 9.76 points or 0.26% to end at 3,752.79. Price increases in counters such as Union…
Italy’s economy has fallen back into recession, latest official figures show, after contracting for two quarters in a row. GDP, the value of all the country’s goods and services, shrank 0.2% in the second quarter of the year. The surprisingly weak number follows a 0.1% contraction in the first quarter. At the end of last…
Shang-Jin Wei, a professor of finance and economics at Columbia University’s Graduate School of Business located in New York City, started work today as Chief Economist of the Asian Development Bank (ADB). Wei will serve as ADB’s spokesperson on economic issues and head its Economics and Research Department, which leads policy research on development challenges…
Virtusa Corporation, a global business consulting and IT outsourcing company that combines innovation, technology leadership and industry solutions to transform the customer experience, today announced that its CEO Kris Canekeratne was given the ‘CEO of the Year’ award by World HRD Congress-Thought Leaders International at a grand awards ceremony in Mumbai. The ‘CEO of the…
Colombo equity market ended on a negative note despite non-banking financial segment (NBFI) gaining rapidly due to consolidation process. Core index shed 6.73 index points or 0.10% to end at 6,815.42 while 20-scrip S&P SL index declined by 17.30 index points to close at 3,743.03. Price declines in counters such as Ceylon Tobacco Company (closed…
Orient Garments PLC has appointed its Director Dr. Lawrence Mervyn Fritsgerald as Chief Executive Officer with effects from 4 August 2014.
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