Indian stock markets have risen to a record high after exit polls suggested the Narendra Modi-led Bharatiya Janata Party (BJP) and its allies are on course to win the general election. India’s main stock index, the Sensex, rose 1.7% to 23,941.32 points in early trade on Tuesday. This follows a 2.4% gain on Monday ahead…
The Mari Petroleum Company, a joint venture of Pakistan government and the Fauji Foundation, announced on Monday a ‘significant’ gas and condensate discovery with estimated reserves of about 20 billion cubic feet (BCF) in Sujawal district of Sindh. “We have been blessed with a significant gas and condensate discovery in Sujawal Block’s Sujjal-1 well,” said…
The board of directors of Sierra Cables Plc has informed the Colombo Stock Exchange that a discrepancy of Rupees 172 million has been noted in its accounts further investigations are being made. Hence, the Sierra Cables board of directors has requested the Colombo Stock Exchange to temporarily suspend its share trading. The board has also…
Sri Lanka Telecom (SLT) group has recorded a profit of Rs. 547 million, which is a drop of 66 percent during the quarter ending March 2014. Accordingly, the per share profit of the group for this quarter is only cents 30. Though the revenue has increased by six percent to Rs. 15.2 billion, the main…
India’s TATA Housing together with the Urban Development Authority (UDA) begins a USD 430 million mixed development project on a three acre plot of land at Slave Island in Colombo. While the first phase of this project was launched yesterday (11 May) by Defence and Urban Development Ministry secretary Gotabhaya Rajapaksa, four towers with 650…
Popular Korean car maker Kia has unveiled the prototypes of two electric bicycles as part of the company’s commitment to zero emission propulsion, 70 years after it first manufactured bicycle parts in Korea in 1944. Powered by a 250 Watt rear-wheel drive electric motor powered by a detachable 36 Volt, 10 ampere lithium-ion polymer battery,…
The Commercial Bank of Ceylon PLC has made a measured start to 2014 despite excess liquidity, lower demand for credit and thinning margins. The Bank has reported operating profit before VAT and NBT of Rs 3.897 billion for the three months ended 31st March 2014, reflecting growth of 4.73% over the first quarter of 2013….
Colombo stock market started its’ weekly operations on a positive note where ASI managed to reach 6,300 mark after 11 months. ASI gained 18.29 index points or 0.29% to close at 6,303.16 while 20-scrip S&P SL index up by 23.65 index points or 0.68% to end at 3,480.91. Price appreciations in Bukit Darah (closed at…
Many Facebook users are unable to access their accounts as the social network website is reportedly not working at the moment. Reports on Twitter are corroborating evidence that Facebook’s website is down for many, Tech Crunch reports. The social network posted a message to its developer site, apologizing for the inconvenience caused to Facebook users…
Ceylon Tobacco Company (CTC) which enjoys the sole monopoly of the cigarette market in Sri Lanka has released its latest summary of performance for the three months ended 31 March 2014. The report indicates that CTC has contributed a massive sum of Rs. 15.9 billion to the government revenue within the three months ended 31…
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