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Arpico Insurance Limited share issue oversubscribed

The Arpico Insurance Limited share issue has been oversubscribed after receiving applications for nearly Rs. 80 million and will close today (12 December) at 4.30 pm. The issue of 6,630,400 ordinary voting shares at Rs. 12 each has attracted applications for Rs. 79,564,800. The basis of allotment is to be notified later to the Colombo…

(0)Comments | December 12, 2014 3:37 pm

Airbus shares fall over A380 threat

Shares in French aviation firm Airbus fell as much as 4.5% on Thursday after it said it might halt production of its A380 superjumbo in 2018. The aircraft manufacturer added it expected profits would be flat in 2016. Airbus shares fell 10.4% to €43.20 (£34.32)on Wednesday, marking their worst one-day fall for six years and…

(0)Comments | December 12, 2014 11:54 am

Stock Market Review – 11th Dec 2014

Colombo equities witnessed a lackluster trading day where bourse failed to maintain momentum gained on last session. Main index shed 10.94 index points or 0.15% to close at 7,243.34 while S&P SL20 index marginally declined by 0.46 index points (-0.01%) to close at 4,082.95. Price depreciations in counters such as Ceylinco Insurance (closed at LKR…

(0)Comments | December 11, 2014 11:22 pm

Likelihoods of Japanese car prices rising in Sri Lanka

With the Japanese Yen recovering while compared to the US Dollar, there are likelihoods of prices of Japanese vehicles and goods imported to Sri Lanka rising again. With the Japanese Yen depreciating as never before during recent times, the Japanese vehicle prices saw a sharp decrease in the Sri Lankan market which benefitted the customers….

(0)Comments | December 11, 2014 2:44 pm

World’s top ICT economy in rare opening for Lankan start-ups

In a major renewal of its economic cooperation with Sri Lanka, World’s ICT innovation leader has announced that it is ready to form a joint Business Council with Sri Lanka for the first time, as revealed on 04 December-and Lankan ICT start-ups have received a breakthrough invitation to showcase themselves at one of world’s top-tier…

(0)Comments | December 11, 2014 2:40 pm

Union Assurance PLC demerges, incorporates separate entity for General Insurance

Union Assurance PLC has been demerged and will continue to carry on its long term insurance business while its General Insurance will be undertaken by Union Assurance General Limited with its registered offices at No. 20, St. Michael’s Road, Colombo 3. This is following the demerger of the General Insurance business from the Life Insurance…

(0)Comments | December 11, 2014 2:07 pm

Yen continues its gains against dollar

The yen extended its gains against the US dollar for the third day in a row to hit its strongest level in more than a week, amid risk aversion as global equity markets continued to fall. The dollar fell nearly 1 per cent to trade below Y119 against the Japanese currency after touching a seven-year…

(0)Comments | December 11, 2014 1:49 pm

Oil hits five-year low on Opec report and US concerns

The price of oil has fallen to fresh five-year lows in the wake of two separate reports indicating a global supply glut. Opec oil producers released a forecast indicating less global oil demand next year. A separate US report, which showed a surprise increase in the country’s crude oil supplies, also pushed prices lower. The…

(0)Comments | December 11, 2014 9:42 am

Stock Market Review – 10th Dec 2014

Colombo stock market managed to rebound on Wednesday amid Treasury bill yields declining further in today’s auction. Core index bagged 36.34 index points or 0.50% to end at 7,254.28 and 20-scrip S&P SL index gained 19.71 index points (0.49%) to close at 4,083.41. Price appreciations in counters such as John Keells Holdings (closed at LKR…

(0)Comments | December 10, 2014 5:17 pm

Will European ban on fisheries effect Sri Lanka? – Video Interview

The European Union which buys around 50 per cent of Sri Lanka’s fishery exports recently imposed a ban on the import of fishery products from the island. Though this ban is to be effective from 15 January 2015, Sri Lanka still has an opportunity to avoid this. However, Sri Lanka has to take several tangible…

(0)Comments | December 10, 2014 2:52 pm