While Cargills Bank has bought 70 percent shares of Capital Alliance Finance PLC, trusted sources told adaderanabiz.lk that Cargills Bank would endevour to further increase this share in the future. Cargills Bank bought 68 percent shares of Capital Alliance Finance through three agreements at Rs. 15.50 and Rs. 15.40 per share, another 02 percent was…
Mountaineer Elmo Francis who recently voyaged to climb Mt Everest was successful in achieving four altitude records for Sri Lanka. Amãna Bank, Sri Lanka’s only licensed commercial bank which is disengaged from any interest based transaction, partnered the local mountaineer on this record breaking expedition. Having planned to reach an altitude of 7500 meters by…
Hatton National Bank is to acquire 51% of the issued and fully paid up voting shares of Prime Grameen Microfinance Limited from Prime Lands (Pvt) Limited for Rs. 660 million. The transaction is expected to conclude on or before 30 September 2014. Once this transaction is complete, Hatton National Bank would carry out its microfinance…
Colombo bourse started the weekly operations on Monday with positive returns, recording a nearly one month high turnover of LKR 2.3bn. Core index gained 12.02 points (0.18%) to end at 6,822.15 whereas S&P SL 20 index marginally gained 0.91 points (0.02%) to end at 3,760.33. The gains were mainly led by price progressions in Ceylon…
When the liquidation case of Touchwood Investments PLC was taken up on 31 July, counsel appearing on behalf of the company informed courts that Touchwood Investments chairman and chief executive officer Lanka Wijendra Kiwulegedera is currently out of the island and that he would return only on 4 August (today). Accordingly, the case would be…
So fare 12 banks and 57 non-banking financial institutions have submitted their proposals under its consolidation of banks and non-banking institutions programme, says the Central Bank of Sri Lanka (CBSL). The proposals submitted by these institutions are for consolidations, buying and introducing capital. The Monetary Board has approved in principle 19 proposals for consolidation and…
President Noritake Group President, Mr. T. Ogura who was on a recent visit to Sri Lanka commended the Company’s performance during the last financial year and forecasted steady and greater growth figures during the year to come. During this brief visit to Colombo, Mr. Ogura also paid a courtesy call on H.E. President Mahinda Rajapaksa…
Dipped Products PLC the leader in global non-medical rubber glove market and a subsidiary of the Hayleys Group, posted steady financial performance in 1Q of 2014-15. In a filing to the Colombo Stock Exchange, Dipped Products reported a turnover of Rs. 8,741 Mn and a Profit Before Tax (PBT) of Rs. 441 Mn for the…
Colombo equity market closed its weekly operations on a negative note where core index marginally slipped to negative territory. ASI end at 6,810.13 points shedding 3.77 index points or 0.06% while 20-scrip S&P SL index declined by 13.09 index points or 0.35% to close at 3,759.42. Price depreciations in counters such as Ceylon Tobacco (closed…
Bogala Graphite Lanka PLC is to begin an exploration programme at its fully owned Rangala mines. The Rangala mines situated eight kilometers southeast of the of the Bogala mines has been identified as very rich in high purity graphite. It last operated as an active mine in 1983. Bogala Graphite Lanka has applied for a…
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