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C.W. Mackie buys 88.23 percent of Kelani Valley Canneries

C.W. Mackie PLC has purchased 30,351,222 ordinary shares representing 88.23 percent of Kelani Valley Canneries Ltd. from CIC Agri Business (Pvt) Ltd. for a purchase consideration of Rs. 130,000,000 on 31 March 2014.

(0)Comments | April 1, 2014 3:19 am

Stock Market Review

Colombo equities closed on a mixed note on Monday as the benchmark All share price index extended losses to closed at 5,968.31 with a drop of 3.86 points (-0.06%) while S&P SL20 index managed to marginally gain 1.25 points (+0.04%) to closed at 3,279.92. Price depreciation in counters such as Hatton National Bank (closed at…

(0)Comments | March 31, 2014 12:05 pm

Inflation remains static this month

Latest data reveal that the March inflationary rate in Sri Lanka remains static with 4.2 percent as compared to February this year. According to the data released by the Census and Statics Department, based on the Colombo Consumer Price Index, the normal increase in prices of goods in Sri Lanka or inflation has been 4.2…

(0)Comments | March 31, 2014 10:38 am

Japan factory output slows unexpectedly in February

Factory output in Japan declined by 2.3% in February, official figures released on Monday show. The fall could add to concerns about a slowdown in the world’s third-largest economy. February’s figure was the first decrease in three months, and it surprised many analysts who were expecting a boost ahead of a planned tax increase. Sales…

(0)Comments | March 31, 2014 4:58 am

Now, the latest project to improve Katunayake airport

The government is to implement a project to enhance the passenger terminal of the Katunayake International Airport which handles some six million passengers annually to handle 15 million in the future. This project is receiving financial assistance from JAICA and the relevant agreement has been signed, Civil Aviation Authority Ministry secretary Dr. Ravindra Ruberu told…

(0)Comments | March 31, 2014 4:09 am

Drought pushing up demand for electricity

The prevailing drought condition in the country has increased the demand for electricity, says the Ceylon Electricity Board (CEB) chairman. The overall increase the use of air-conditioning and fans due to the prevailing drought conditions have increased the demand, CEB chairman W.B. Ganegala told AdaderanaBiz. “Before the drought the electricity demand in the country during…

(0)Comments | March 29, 2014 11:58 am

Japan prices rise for ninth month ahead of tax increase

Consumer prices in Japan increased by 1.3% in February compared with the same period last year, marking the ninth month in a row of gains. The figure met analysts’ expectations, but is still well below Prime Minister Shinzo Abe’s inflation target of 2%. Japanese consumer spending also slowed, official data revealed, ahead of a planned…

(0)Comments | March 29, 2014 5:29 am

Stock Market Review

Stock Market ended with mixed results on Friday where core index was unable to continue the momentum gained in previous day. All share price index dropped by 20.45 index points (-0.34%) to closed at 5,972.17 while 20 Scrip S&P SL20 index marginally gained 4.52 index points (-0.14%) to closed at 3,278.67. Price depreciation in high…

(0)Comments | March 28, 2014 12:36 pm

K3 city plan runs parallel to Sri Lanka’s expressways

There is only one new ultra modern city that would be constructed under the ‘K3’ urban development project planned to link the expressways in Sri Lanka. This is reportedly near the Kottawa interchange of the Southern Expressway. This project has been titled the K3 urban development project since the it encompasses the three main towns…

(0)Comments | March 28, 2014 10:28 am

Guaranteed prices on potatoes, onions can save USD 200 million

The government entered into an agreement with farmers to provide guaranteed prices for potatoes, onions and dried chilies expecting the country to become self-sufficient in these produce by 2016 and thus retain around USD 200 million which otherwise go out of the country, Finance Ministry Deputy Secretary S.R. Attygalle told AdaderanaBiz. This agreement guaranteeing Rs….

(0)Comments | March 28, 2014 10:27 am