India’s prime minister-elect Narendra Modi has been compared to Deng Xiaoping, Margaret Thatcher, Ronald Reagan, Shinzo Abe, Tayyip Erdogan and Mahinda Rajapaksa. Commentators have variously described him as assertive, dynamic, authoritarian and nationalist. Many believe he’s a genuine economic reformer. Others worry about his – and his BJP’s – hard-line Hindu credentials and wonder whether…
A controlling stake of 28.6 million shares, which is 86.23 percent of Entrust Securities has been changed as a crossing at Rs. 20.50 per share at the stock market this morning to Entrust Holdings. Meanwhile, 19 million shares which is 85 percent stake of Multi Finance have also been changed as a crossing to Entrust Holdings…
The Central Bank of Sri Lanka (CBSL) says it has issued the necessary directions for the future conduct of The Finance Company (TFC) under a new restructuring plan in order to stabilize the company further and move it to a profitable level. Accordingly the CBSL has reconstituted the Board of Directors of The Finance Company…
Harsha Amarasekera has been appointed chairman of CIC Holdings. Mr. Amarasekera who was the acting chairman since 01 January 2014 was an independent non-executive director of CIC Holdings. While S.P.S. Ratnatunga has been appointed Managing Director and Chief Executive Officer of CIC Holdings, the directors are E.F.G. Amarasinghe, R.N. Asirwatham, R.S. Captain, S.M. Enderby, M.P….
Colombo equities started the weekly operations on a positive note but witnessed a lackluster trading session. ASI index gained 12.71 index points or 0.20% to close at 6,293.02 while 20-scrip S&P SL index marginally gained 3.46 index points or 0.10% to end at 3,462.89. Price appreciations in counters such as Sri Lanka Telecom (closed at…
India’s premier-elect Narendra Modi plans to slash 26 government positions and name himself as defence minister under a cabinet revamp set to be unveiled later today, reports said. Modi’s cabinet will number 45 including him, down from 71 in outgoing prime minister Manmohan Singh’s scandal-tainted Congress-led coalition administration, the Press Trust of Indian news agency…
While the registration of hybrid vehicles are increasing in Sri Lanka the registration of smaller cars are decreasing, reveals the latest research report released by a stock broking firm. This has been revealed in the research report by JB Securities Stock Brokers over the registration of vehicles in Sri Lanka during April 2014. According to…
Latest data released by the Sri Lanka Central Bank indicates Sri Lanka’s exports has increased by 28.6 percent to USD 1,069 million in April 2014 as compared to April 2013. Agro-based exports have increased by 22.4 percent to USD 256.7 million while the apparel exports have increased by 32.6 percent to USD 456 million. Meanwhile,…
AdaderanaBiz learns that though it has been a long time since the Securities and Exchange Commission (SEC) had granted a request by a senior official of the Sri Lanka Board of Investments for a separate board to list its investors, the BOI has been unable to do so. The BOI has so far failed to…
Sri Lanka’s powerful Finance Secretary Dr. P B Jayasundera is to be removed from the additional post of Secretary to the Ministry of Economic Development, according to sources. Informed sources say that P.B. Jayasundera, who is also the Secretary to the Treasury and the Finance Ministry, will likely be removed from the position of Economic…
Video Story
