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…
Though the Employees’ Trust Fund (EPF) claims through advertisements carried out by spending millions of rupees that it has published financial reports from 2011 to 2013, these claims are false says United National Party parliamentarian Dr. Harsha de Silva. During a media briefing in Colombo on Friday (23 May) the parliamentarian said that what the…
Equity Market concluded its weekly operations on Friday in negative territory where indices closed with negative returns. Core index lost 9.86 points (-0.16%) to end at 6,280.31 and while 20-scrip S&P SL index lost 5.62 points (-0.16%) to end at 3,459.43. Price declines in index heavy counters such as Ceylon Tobacco (closed at LKR 1,083.00,…
The latest financial report of Lanka India Oil Company (LIOC) reveals its profits falling during the March quarter of 2014. When compared to the March quarter of 2013 the company’s profits have fallen by 10 percent to a profit of Rupees 722 million. While the company has reported a Rs. 1.36 per share earnings during…
A ring belonging to an 18th Century Indian ruler has been sold at an auction in London amid criticism from heritage groups. The jewelled golden ring was sold for £145,000 by Christie’s auction house. It belonged to Tipu Sultan, a Muslim king, and is notable because it was inscribed with the name of a Hindu…
Colombo bourse closed in opposite directions on Monday, as All share price index gained 0.85 points or 0.01% to end at 6,290.17 while S&P SL 20 index lost 0.79 points or 0.02% to end at 3,465.05. Price advancements in counters such as Sri Lanka Telecom (closed at LKR 47.90, +1.9%), Trans Asia (closed at LKR…
Fitch Ratings has downgraded the rating on Singer (Sri Lanka) Plc’s (Singer) outstanding senior unsecured debentures to ‘A-(lka) from ‘A(lka)’. It has also published the company’s National Long Term Rating of ‘A-(lka)’. The Outlook is Stable. The rating on Singer’s outstanding commercial paper has been revised to ‘F2(lka)’ from F1(lka). A full list of rating…
Colombo stock market ended lower today with both indices closing with negative returns. Main bourse declined by 32.29 index points (-0.51%) to end at 6,289.32 while 20-scrip S&P SL index declined by 14.26 index points (-0.41%) to close at 3,456.84. Price depreciations in counters such as Sri Lanka Telecom (closed at LKR 47.00, -2.7%), Commercial…
The deal between Russia’s Gazprom and China National Petroleum Corp (CNPC) has been 10 years in the making. No official price has been given but it estimated to be worth over $400bn. Russia has been keen to find an alternative energy market for its gas as it faces the possibility of European sanctions over the…
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