The purchase of Hemas Holdings Limited shares to the tune of nearly Rs. 1.5 billion recently by Templeton Trust which a world prominent investments fund, portrays the faith of the international investors on the company as well as on Sri Lanka, said A.N. Esufally, a member of Hemas Holdings Limited. While speaking to AdaderanaBiz.lk, Esufally…
The much-talked about Mall of the World project, a massive temperature-controlled indoor city and shopping complex in Dubai, will take about ten years to complete and require Dh25 billion in funds. It is not clear yet when the construction of the project will start, but according to Dubai Holding Chief Executive Ahmad Bin Byat, the…
Colombo equity market flourished with higher returns on Thursday for the seventh consecutive day in a row, boosting the All Share Index up more than 290.24 points so far for the month. Main bourse advanced notably by 55.02 points (+0.83%) to close at 6,668.86 while S&P SL 20 advanced by 29.08 points (+0.78%) to close…
It would seem to be the most common sense conclusion: Hundreds of thousands of tourists, overwhelmingly male, come to the famously sensual city of Rio de Janeiro, where the women wear tiny bikinis and prostitution is legal. Sex work, therefore, must be booming during the World Cup. A team of academic researchers, including men and…
Capital market revenues for US global trading and universal banks (GTUBs) will be lower year over year when large banks kick off 2Q reporting on July 11, predicts Fitch Ratings, with continued fixed income, currency and commodities (FICC) declines outpacing improving equity capital markets business and M&A. While some GTUBs have publicly telegraphed this potential…
The current Managing Director of the long standing Finlays Colombo PLC is to resign on 14 July and a new Managing Director has been appointed to replace him. Finlays Colombo PLC says current Managing Director Samuel Compton Swire would resign while Alexander Christian Nicolas Johansen would replace him. After his resignation Samuel Compton Swire would…
EGI Hybrid Center, a subsidiary of Laugfs Holdings Limited recently announced the latest EGI Hybrid Technology to the booming Sri Lankan automotive industry. In a bid to transform Sri Lanka’s energy consumption, EGI Hybrid brings the latest, tested, recommended and used transport fuel to local consumers. Speaking on the introduction of EGI Technology in Sri…
The proposed Ratnapura expressway is to be constructed between Pelmadulla to Ingiriya and it would be connected to the Southern expressway’s Gelanigama interchange through the existing highway at Ingiriya, said Ports and Highways Deputy Minister Nirmala Kothalawala. “The Ratnapura expressway will be from Ingiriya to Pelmadulla. For this we have identified areas with state and…
The renovations to the former Auditor General’s Department building at Independence Square in Colombo 7 have been completed now. This building now converted into a shopping complex with 42 outlets will be declared open by President Mahinda Rajapaksa on Sunday 13 July, said the Urban Development Authority (UDA) chairman. All these 42 shops within this…
Malaysia’s Parkson Retail Asia Limited has appointed three directors to Sri Lanka’s prominent fashion apparel chain Odel PLC to represent their share interests. Parkson Retail Asia’s Y. Bhg. Datuk Lee Kok Leong, Tiang Chee Sung and Ms. Wong Siew Chuan have been appointed as non-executive directors of Odel PLC with effect from 04 July, 2014….
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