Colombo equity market started its weekly operations on Monday with negative returns as main bourse declined by 3.10 index points or 0.05% to close at 6,299.35 while 20-scrip S&P SL index declined by 3.93 index points or 0.11% to end at 3,474.93. Price depreciations in counters such as John Keells Holdings (closed at LKR 220.30,…
Seylan Bank PLC announced the appointment of Mr. Upali Dharmadasa as a Director of the Bank with effect from 09th June 2014. A high-profile industrialist, with strong leadership qualities, proven strategic abilities and an inherent and abiding interest in all matters concerning business and cricket, Mr. Dharmadasa counts over 32 years of experience in corporate…
NDB Capital Holdings PLC (NCAP) has decided to de-list the ordinary shares of the company from the official list of the Colombo Stock Exchange (CSE) subject to shareholder and regulatory approvals. NCAP has made arrangements with its majority shareholder National Development Bank PLC (NDB) to purchase the shares of the minority shareholders who may wish…
Though Sri Lanka is a prominent apparels manufacturing country, it has been revealed that around 60 percent of the apparels sold in the local market are those from countries like China, India and Indonesia. Sri Lanka’s retail apparels market is worth around USD 02 billion, said Sri Lanka Apparel Brands Association (SLABA) chairman Indradaththa Dharmawardene….
Lion Brewery Ceylon PLC owned by Carson Cumberbatch PLC and Carlsberg Malaysia has bought the Cargills Group owned ‘Three Coins’ brewery, reliable market sources told AdaderanaBiz.lk Distilleries Limited too had made a bid while the Three Coins Brewery had impacted negatively on the Cargills Group profits. It has been further revealed that the Lion Brewery…
The Sri Lankan Government today rejected a news report, quoting a minister, claiming that Sri Lanka imports Iran Crude via third parties to avoid US sanctions. “The attention of the Ministry of External Affairs has been drawn to a Reuters news item attributing to the Government Spokesperson and Minister of Mass Media and Information Keheliya…
Sri Lanka’s external sector strengthened further in April 2014, with continued foreign currency inflows in the form of earnings from exports, tourism, workers’ remittances, as well as inflows to the financial account. The trade deficit continued to narrow during the first four months of 2014 as a result of healthy growth in exports. The contraction…
The latest survey by CyberMedia Research into Sri Lanka’s mobile phone market reveals that ‘Nokia’ enjoys the largest market segment in the island. Meanwhile, this survey also reveals that when it comes to Smartphones Samsung is the No. 1 in the market. Nokia has captured 26.2 percent of Sri Lanka’s general mobile phone market during…
Renuka Shaw Wallace PLC is to invest Rs. 70 million in 500,000 ordinary non-voting shares of Renuka Organics (Private) Limited at Rs. 140.00 each. This is 50 percent of the issued number of shares of Renuka Organics (Private) Limited, a Board of Investment approved company which is vertically integrated certified organic agriculture products growing, manufacturing…
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…
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