The GSMA announced that leading Sri Lankan operators Dialog Axiata and Mobitel will launch a beta trial of the GSMA Mobile Connect service that will allow consumers to conveniently, securely and consistently access a wide array of digital services by using their smartphones and feature phones as devices for authentication. The service will be launched…
EXCLUSIVE: AIG, a world leading property-casualty and general insurance organization serving more than 70 million clients around the world has decided to withdraw its operations from the Sri Lankan market, AdaderanaBiz.lk learns from reliable sources. This decision has been arrived at after closely examining the business segments within those countries in which products and services…
Japanese car manufacturer Toyota has added 650,000 cars – all in Japan – to the recall it issued last year over a defect in passenger airbags. That takes the number of cars recalled over the issue to 2.79 million. The affected vehicles have a defective part which “could cause the airbag inflator to rupture and…
Colombo shares witnessed lackluster trading session on Wednesday, as both indices closed with negative returns. Core index marginally dropped by 0.28 points (0.00%) to end at 6,293.36 while S&P SL 20 index dropped by 6.32 points (0.18%) to end at 3,477.80. Price declines in Bukit Darah (closed at LKR 630.00, -3.1%), Carson Cumberbatch (closed at…
Aitken Spence Hotel Management (South India) Private Limited has a brand new 143 roomed 5 Star hotel property in Chennai at a cost of USD 25 million. Aitken Spence Hotel Management (South India) Private Limited is owned by Aitken Spence PLC in the ratio of 49:51. Aitken Spence PLC owns 74 percent of the equity…
Dr. T. Senthilverl has bought 1,870,400 which is 6.83 percent shares of Swisstek (Ceylon) PLC. Thus, Dr. Senthilverl has acquired approximately 16.33 percent of the issued share capital of the company. Swisstek (Ceylon) PLC formerly known as Parquet (Ceylon) PLC was established in 1967 and is a member of Lanka Walltiles Group of Companies since…
The World Bank has revised down its forecast for economic growth in the developing world this year – from 5.3% down to 4.8%. If right, it would be the third consecutive year of growth below 5% for this group of countries. The Bank says that developing nations need to make economic reforms to promote growth….
Colombo bourse continued the momentum gained in previous session to close with positive returns. Benchmark All share price index gained 6.61 points (+0.11%) to end at 6,293.64 while S&P SL 20 index marginally gained 4.43 points (+0.13%) to end at 3,484.12. Price progressions in counters such as Lanka Orix Leasing (closed at LKR 85.00, +5.6%),…
An investigation in China has revealed that more than 1,000 officials in the southern province of Guangdong have spouses or children living abroad. China’s communist leaders want to stamp out the practice because they believe it is linked to corruption. The practice is not illegal but gives corrupt officials a route to send abroad any…
In the first five months of 2014 the Colombo Stock Exchange (CSE) has outperformed its major indicators from 2013, with the All Share Price Index (ASPI) closing at 6,263.46 on the 30th of May, presenting a 5.9 per-cent increase and the S&P SL 20 closing at 3,454.61 on the same day, with a 5.8 per-cent…
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