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Hayleys acquires Singer Sri Lanka for Rs 10.89 billion

Hayleys PLC, controlled by business magnate Dhammika Perera, has purchased a 61.73 percent stake in SINGER (Sri Lanka) PLC this morning (15). Hayleys has acquired 231,864,362 shares of SINGER Sri Lanka at the price of Rs 47.00 per share. The total value of the transaction is reportedly Rs 10.89 billion (Rs 10,897,625,014.00).

(0)Comments | September 15, 2017 11:11 am

Sri Lankan shares hit over 1-week closing high; tax bill weighs

Reuters – Sri Lankan shares ended at more than a one-week closing high on Thursday, helped by gains in beverage and diversified shares, even as investors adopted a wait-and-watch approach to assess the impact of a new tax bill, brokers said. The Colombo stock index ended 0.14 percent firmer at 6,381.46, its highest close since…

(0)Comments | September 15, 2017 10:49 am

FACETS – Bringing Sri Lanka’s Gem & Jewelry Industry Into the 21st Century

A tiny island in the middle of the Indian Ocean was once a prominent feature in the tales of explorers, scholars and merchants who spread the fame of the troves of precious gems hidden in its earth. The 27th Edition of the FACETS International Gem and Jewelry Exhibition held recently bore testament to the fact…

(0)Comments | September 14, 2017 4:03 pm

China Merchant to reveal its ‘Road Map’ for the Hambantota Port at Ceylon Chamber seminar

The China Merchant Port Holdings will declare its ‘Road Map for the Development of the Hambantota Port’ at a Ceylon Chamber of Commerce seminar organized under the title of ‘South Asia’s Emerging Gateway City ’. During the seminar, Mr. Hang Tian, Deputy General Manager, China Merchant Port Holdings Company will declare the firm’s overall plan…

(0)Comments | September 14, 2017 3:31 pm

Brandix named Sri Lanka’s Exporter of the Year for 5th successive year

Wins 5 Presidential Export Awards in respect of 2016 contribution to nation’s economy The Brandix Group has topped Sri Lanka’s ranking of exporters for the fifth consecutive year in 2016 to be declared the country’s Exporter of the Year by the Export Development Board (EDB) at a ceremony presided over by President Maithripala Sirisena today….

(0)Comments | September 14, 2017 2:19 pm

Amãna Bank introduces Online Account Opening

Amãna Bank has introduced the convenience of Online Account Opening to facilitate its customers with an easy and time saving method of opening an account without going through the hassle of writing on forms. Introduced as a part of the Bank’s digitization strategy, the Online Account Opening platform is accessible on the Bank’s website,…

(0)Comments | September 14, 2017 1:12 pm

Keells Super customers donate Rs. 2.5 million towards ‘Little Hearts’ Project

Keells Super announced the completion of a fundraising campaign for the Little Hearts Project, with the donation of Rs. 2.5 million towards the treatment of children diagnosed with Congenital Heart Disease (CHD) and critical illnesses. Proceeds of the fundraising campaign will be utilized to improve high end facilities to treat children at the Lady Ridgeway…

(0)Comments | September 14, 2017 12:57 pm

Hayleys to buy majority stake in Singer

Reuters – Sri Lankan conglomerate Hayleys Plc is to buy a 61.73 percent stake in Singer Sri Lanka Plc for 10.9 billion rupees ($71 million), the company said on Wednesday. Hayleys said it has agreed to buy the stake from Retail Holdings (Sri Lanka) BV at a price of 47 rupees per share and in…

(0)Comments | September 14, 2017 12:22 am

Sri Lankan shares close little changed; tax bill weighs on market

Reuters – Sri Lankan shares closed little changed on Wednesday as local investors wait to see the real impact of the new tax bill, brokers said. The Colombo stock index ended 0.07 percent weaker at 6,372.70. It fell 0.2 percent last week, its eighth straight weekly drop. “Market is holding on with some crossings (block…

(0)Comments | September 14, 2017 12:08 am

Commercial Bank wins two awards from International Banker – UK

Adjudged ‘Best Commercial Bank of the Year’ and receives ‘Best Innovation in Retail Banking’ for 2017   The Commercial Bank of Ceylon won the awards for the ‘Best Commercial Bank of the Year’ and ‘Best Innovation in Retail Banking’ presented by the prestigious UK based quarterly publication ‘International Banker.’   This is the first time…

(0)Comments | September 13, 2017 4:47 pm