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Toyota adds to recall over airbags

Japanese car manufacturer Toyota has added 650,000 cars – all in Japan – to the recall it issued last year over a defect in passenger airbags. That takes the number of cars recalled over the issue to 2.79 million. The affected vehicles have a defective part which “could cause the airbag inflator to rupture and…

(0)Comments | June 12, 2014 12:32 pm

Stock Market Review – 11th June 2014

Colombo shares witnessed lackluster trading session on Wednesday, as both indices closed with negative returns. Core index marginally dropped by 0.28 points (0.00%) to end at 6,293.36 while S&P SL 20 index dropped by 6.32 points (0.18%) to end at 3,477.80. Price declines in Bukit Darah (closed at LKR 630.00, -3.1%), Carson Cumberbatch (closed at…

(0)Comments | June 12, 2014 12:23 pm

Aitken Spence buys 5 Star hotel in Chennai

Aitken Spence Hotel Management (South India) Private Limited has a brand new 143 roomed 5 Star hotel property in Chennai at a cost of USD 25 million. Aitken Spence Hotel Management (South India) Private Limited is owned by Aitken Spence PLC in the ratio of 49:51. Aitken Spence PLC owns 74 percent of the equity…

(0)Comments | June 11, 2014 12:50 pm

Dr. Senthilverl buys more Swisstek shares

Dr. T. Senthilverl has bought 1,870,400 which is 6.83 percent shares of Swisstek (Ceylon) PLC. Thus, Dr. Senthilverl has acquired approximately 16.33 percent of the issued share capital of the company. Swisstek (Ceylon) PLC formerly known as Parquet (Ceylon) PLC was established in 1967 and is a member of Lanka Walltiles Group of Companies since…

(0)Comments | June 11, 2014 12:35 pm

World Bank lowers growth forecast for developing world

The World Bank has revised down its forecast for economic growth in the developing world this year – from 5.3% down to 4.8%. If right, it would be the third consecutive year of growth below 5% for this group of countries. The Bank says that developing nations need to make economic reforms to promote growth….

(0)Comments | June 11, 2014 9:56 am

Stock Market Review

Colombo bourse continued the momentum gained in previous session to close with positive returns. Benchmark All share price index gained 6.61 points (+0.11%) to end at 6,293.64 while S&P SL 20 index marginally gained 4.43 points (+0.13%) to end at 3,484.12. Price progressions in counters such as Lanka Orix Leasing (closed at LKR 85.00, +5.6%),…

(0)Comments | June 10, 2014 5:14 pm

China investigation finds 1,000 ‘naked officials’ in Guangdong

An investigation in China has revealed that more than 1,000 officials in the southern province of Guangdong have spouses or children living abroad. China’s communist leaders want to stamp out the practice because they believe it is linked to corruption. The practice is not illegal but gives corrupt officials a route to send abroad any…

(0)Comments | June 10, 2014 5:08 pm

CSE improves 2013 figures in first five months of 2014

In the first five months of 2014 the Colombo Stock Exchange (CSE) has outperformed its major indicators from 2013, with the All Share Price Index (ASPI) closing at 6,263.46 on the 30th of May, presenting a 5.9 per-cent increase and the S&P SL 20 closing at 3,454.61 on the same day, with a 5.8 per-cent…

(0)Comments | June 10, 2014 12:08 pm

Rights Issue by Browns Investments

Browns Investments PLC has decided to issue 1,860,000,000 ordinary by way of a Rights Issue in the proportion of one ordinary share to every one share held by shareholders at Rs. 1.25 per share. The current stated capital of Browns Investments PLC is Rs. 5,380,000,000 consisting of 1,860,000,000 ordinary shares.

(0)Comments | June 10, 2014 11:54 am

China praises Norochcholai

China is always prepared to assist in Sri Lanka’s development efforts and that the construction of the Norochcholai coal power plant has made Sri Lanka become a country within South Asia with a strong supply of electricity, said Deputy Ambassador of China in Sri Lanka Ren Fanqing while attending an event at the Thurstan College…

(0)Comments | June 9, 2014 5:47 pm