The government says that the China Development Bank (CDB) has expressed its willingness on joint investments with Sri Lankan banks and that further discussions are currently being held. Heads of the CDB had discussed this issue while attending the Asian Development Bank’s 47th annual conference at Astana, the capital of Kazakhstan where Minister of International…
Colombo equity market witnessed negative returns for the second consecutive day. ASI marginally declined by 4.41 index points or 0.07% to end at 6,313.20 while 20 scrip S&P SL index declined by 8.82 index points or 0.25% to close at 3,490.67. Price depreciations in counters such as John Keells Holdings (closed at LKR 221.00, -2.7%),…
The Ministry of Cooperatives and Internal Trade is preparing to import rice in the face of the increasing prices of rice in the local market. Minister of Cooperatives and Internal Trade Johnston Fernando has decided to import 100 metric tons of rice immediately. This imported rice is to be sold under government controlled prices through…
As part of its efforts to regain lost ground, Canadian handset maker BlackBerry is set to launch its latest smartphone, Z3, in India next week. This smartphone is likely to be priced below Rs 12,000 to take head on the likes of Samsung, Motorola, HTC, Microsoft Devices and Micromax. Launched in Indonesia earlier this year,…
The government is preparing to acquire a land valued at over Rs. 500 million belonging to Dunamis Capital PLC at Upper Lake Road in Nuwara Eliya. Dunamis Capital has informed the Colombo Stock Exchange that it had received an acquisition order on 10 June.
Colombo equities failed to sustain the three day winning streak on Wednesday as both indices closed with negative returns. All Share Price index lost 26.80 points or 0.42% to end at 6,317.61 while S&P SL 20 index lost 21.58 points or 0.61% to end at 3,499.49. Price depreciation in index heavy counters such as John…
Reforms in State enterprises and increasing State revenue are crucial factors in sustaining Sri Lanka’s long term economic growth, points out the Asian Development Bank (ADB). Towards these, several State owned enterprises need to reformed in order to increase their efficiency, financial stability and management, ADB President Takehiko Nakao said in Colombo today. He said…
Facebook has launched a photo-messaging app one week after accidentally releasing it on Apple’s app store. Known as Slingshot, the app’s features include sharing photos and videos with friends and sending “reaction shots”. It uses an unlocking mechanism, whereby photos received from friends must be unlocked by “slinging” a different photo back to the original…
Yoghurt and other fresh milk based products manufacturer Lucky Lanka Milk Processing Limited is preparing to issue an Initial Public Offering (IPO) after approval by the Colombo Stock Exchange. The company is preparing to offer 38 million shares ordinary voting shares at Rs. 6.00per share and 24 million non-voting shares at Rs. 3.00 each. This…
Though at the inception the toilet facilities at the Welipenna rest area of the Southern expressway were provided free of charge to the commuters, now a fee is being charged. Accordingly, a fee of Rs. 20 per person is being charged for toilet facilities provided at the Canovin Arcade rest area and a notice with…
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