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Sri Lanka’s Daya Gamage led Bimputh Finance obtains foreign loan

Bimputh Finance PLC headed by United National Party Parliamentarian and the party’s national organiser Daya Gamage has obtained a loan from the Luxemburg based capital investment fund to expand the micro finance operations of the company. Bimputh Finance has obtained a loan of USD 750,000 from the fund Incofin IM’s Rural Impulse Fund S.A. SICAV-FI….

(0)Comments | October 13, 2014 7:59 pm

Stock Market Review – 13th Oct 2014

Colombo bourse started weekly operations on negative note where market witnessed the highest intraday loss after 13 months amid net foreign inflows. In last four sessions, ASI shed 222.38 index points (-3.0%) and S&P SL20 index shed 145.76 index points (-3.5%). Main index slipped by 136.78 index points or 1.9% to end at 7,184.22 while…

(0)Comments | October 13, 2014 5:27 pm

Etisalat in talks on sale of Sri Lankan unit

The UAE’s largest telecoms operator, Etisalat, has begun initial talks with several international telecom operators, including India’s Bharti Airtel, over the potential sale of its Sri Lankan unit. A source close to Etisalat told Arabian Business that Airtel was one of several operators to approach the company. Etisalat began its operations in Sri Lanka in…

(0)Comments | October 13, 2014 10:10 am

Cigarette prices increased – CTC

Price of cigarettes have been increased by Rs. 1 and Rs. 2 with effect from today, the Ceylon Tobacco Company said a short while ago.

(0)Comments | October 10, 2014 1:08 pm

Lottery opens for first Toyota fuel-cell vehicle

Toyota showed the world its upcoming FCV fuel-cell vehicle during CES earlier this year, and now the first owner will be decided through a drawing being conducted by the Environmental Media Association (EMA). Restricted to California residents, entries can be registered at the Bidding For Good site for a fee of $100 each. The car…

(0)Comments | October 10, 2014 10:37 am

MTD Walkers looking at Rs. 2.3 bundle of cash

MTD Walkers PLC, the construction, production and engineering services company well known locally and internationally is preparing to raise around Rs. 2.3 billion through a Rights Issue. The company is to issue 53.2 million shares in the ratio of 466 shares to every 1,000 existing shares held at Rs. 45 per share. The funds thus…

(0)Comments | October 10, 2014 10:31 am

Stock Market Review – 09th Oct 2014

Colombo equities closed with mixed results on Thursday amid marginal net foreign outflow. ASI declined by 9.93 index points or 0.13% to end at 7,386.08 while 20 scrip S&P SL index marginally gained by 0.71 index points or 0.02% to end at 4,151.35. Price depreciations in counters such as Ceylon Tobacco (closed at LKR 1,150.00,…

(0)Comments | October 9, 2014 5:57 pm

12.5 kg gas cylinder reduced by Rs. 250

Price of a 12.5 kg cylinder of domestic LP gas, would be reduced by Rs. 250 with effect from midnight today, President’s Media Unit said. Price of a 12.5 kg cylinder of domestic LP gas was increased by Rs. 150, on 5 January 2013. Market price of a 12.5 cylinder is sum Rs. 2,396, at…

(0)Comments | October 9, 2014 2:35 pm

CTC appoints director with 25 years experience in tobacco industry

Ceylon Tobacco Company PLC which holds the monopoly is the cigarette business in Sri Lanka has appointed Kennet George Allen, an Australian with 25 years of experience in the tobacco industry as a non executive director of the company from 07 October. Ceylon Tobacco Company’s Board of Directors include Susantha Ratnayake (Chairman), Felicio Ferraz (Chief…

(0)Comments | October 9, 2014 12:15 pm

IMF warns of low interest rates ‘risk’ to economy

The International Monetary Fund has warned of new risks to global financial stability. Low interest rates could lead investors to buy riskier assets as they seek better returns, the IMF says. In a new report, it says there is a danger that this behaviour could derail the economic recovery, which the IMF has already described…

(0)Comments | October 9, 2014 10:46 am