Alibaba founder Jack Ma has become China’s richest person following his company’s record listing, according to a wealth survey by the Hurun Report. Mr Ma tops its annual rich list with a fortune of $25bn (£15bn), followed by Wanda Group chairman Wang Jianlin. Internet billionaires account for five of China’s 10 richest people this year,…
Anilana Hotels & Properties PLC is to raise a sum of Rs. 767.4 million by the issue of up to 109,624,114 ordinary shares at a price of Rs. 07 each by way of rights to existing shareholders in the proportion of two new ordinary shares to every seven ordinary shares held. The funds raised would…
Colombo equities witnessed mixed returns on Tuesday amid notable foreign investor participation. ASI marginally gained 4.23 index points (+0.06%) to close at 7,260.64 while S&P SL20 index shed 0.78 index points or 0.02% to end at 4,030.09. Price appreciations in counters such as Sri Lanka Telecom (closed at LKR 53.00, +1.5%), Asiri Hospital Holdings (closed…
The Securities & Exchange Commission of Sri Lanka (SEC) has directed the Colombo Stock Exchange (CSE) to lift the price constraints imposed on the Crossings Board for share transactions falling within the ambit of the Central Bank of Sri Lanka’s Financial Sector Consolidation Plan. The SEC has decided to request companies seeking to benefit from…
Anushka Shah, Analyst, Sovereign Risk Group, Moody’s Investors Service Singapore Pte. Ltd. Tom Byrne, Senior Vice President, Sovereign Risk Group, Moody’s Investors Service Singapore Pte. Ltd. ** Below is an article from “Moody’s Credit Outlook“, Sep 22, 2014 issue. On Tuesday, the Government of Sri Lanka (B1 stable) and Government of China (Aa3 stable) announced…
iPHONE 6 and iPhone 6 Plus gives Apple huge sales boost as they finally hit stores Apple just had a record-breaking weekend. The company managed to shift a whopping 10 million iPhones in the last three days and it’s all down to their new devices. The iPhone 6 and 6 Plus went on sale last…
Colombo stock market started weekly operations on optimistic note where both indices witnessed positive returns. Core index gained 21.49 index points or 0.30% to close at 7,256.41 while 20-scrip S&P SL index gained 11.89 index points or 0.30% to close at 4,030.87. Price appreciations in counters such as Hemas Holdings (closed at LKR 63.00, +6.8%),…
As bilateral trade jumped by 67%, Sri Lanka and Bangladesh have begun exploring the possibility of a historic Free Trade Agreement on 22 September in Colombo. And while it would be the first ever FTA for Bangladesh, for Sri Lanka, it is no less than a single entry-point for a huge regional economic corridor. “There…
Governor of the Central Bank of Sri Lanka Ajith Nivard Cabraal is preparing to respond to the questions of the public through the twitter social website. The public could tweet their questions to the Governor through twitter account #askcbsl between 10 am and 11 am Sri Lanka time on Wednesday 24 September.
Alibaba Group Holding Ltd’s (BABA.N) initial public offering now ranks as the world’s biggest in history at $25 billion, after the e-commerce giant and some of its shareholders sold additional shares. Overwhelming demand saw the IPO initially raise $21.8 billion and then send Alibaba’s stock surging 38 percent in its debut on Friday. That prompted…
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