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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

Stock Market Review – 07th Oct 2014

Colombo bourse started the weekly operations on a negative note after recording six consecutive days of gains. Benchmark All share price index dipped by 10.59 points or 0.14% to end at 7,396.01 while S&P SL 20 index declined by 9.67 points or 0.23% to end at 4,150.64. Price depreciation in counters such as John Keells…

(0)Comments | October 7, 2014 5:09 pm

Sanasa Bank wants a billion Rupees

Sanasa Development Bank PLC is preparing for a Rights Issue to increase the bank’s capital base as instructed by the Central Bank of Sri Lanka (CBSL) by issuing 12.5 million new shares. These new shares would be one new ordinary voting share at Rs. 80 each for every two voting shares held. Sanasa Bank expects…

(0)Comments | October 7, 2014 1:40 pm

Early 2015 Budget in Parliament this month

The government’s Budget for 2015 is to be presented to Parliament on 24 October, according to reliable sources. The government’s attention has been focused on the possibilities of holding a Presidential election in January 2015 and there are possibilities the 2015 Budget being presented to Parliament earlier than usual this year, said Media Minister Keheliya…

(0)Comments | October 7, 2014 12:11 pm

Damayanthi at helm of Insurance Board

Ms. Damayanthi Fernando, a lawyer has been appointed Director General of the Insurance Board of Sri Lanka which regulates the insurance sector of the country. She had been Acting Director General of the Insurance Board of Sri Lanka for the past seven months prior to this appointment. Ms. Damayanthi Fernando possesses around 16 years experience…

(0)Comments | October 7, 2014 11:39 am