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Chinese naval base for Hambantota Port?

The Chinese People’s Liberation Army Navy is about to build 18 naval bases in various regions, in the next 10 years, including Pakistan, Sri Lanka and Mynanmar in the Northern, Western and Central South  Indian Oceans, the Namibian reported. The naval bases are: Chongjin Port (North Korea), Moresby Port (Papua New Guinea), Sihanoukville Port (Cambodia),…

(0)Comments | November 19, 2014 11:06 am

Ansell acquires glove manufacturer Hands International

Ansell, a global leader in protection solutions, today announced the acquisition of Hands International, a privately held company, located just outside of Colombo. This acquisition is another step to integrate backwards and build the Company’s knitting and cut and sew manufacturing capabilities. Hands International is a manufacturer and supplier of personal protective equipment (PPE), with…

(0)Comments | November 18, 2014 8:55 pm

Oldest Employee of Galle Face Hotel, Kuttan bids his last good byes after 70 years of service

The iconic doorman at the Galle Face hotel who made history for being one of the oldest hotel employees in the world, passed away peacefully in the early hours of 18th November 2014, announced Galle Face Hotel. In honour of a personality that cannot be forgotten the hotel observed a minute’s silence. Kottarappu Chathu Kuttan…

(0)Comments | November 18, 2014 8:43 pm

Are EPF investments in the Stock Market secure? -Video Interview

The Employees Provident Fund (EPF) has incurred heavy losses by investing in the Stock market, according to a special disclosure made by the Auditor General in the 2012 annual report released by the EPF. Deputy Central Bank Governor Nandalal Weerasinghe speaks to Ada Derana ‘Biz 24X7’ on this issue.

(0)Comments | November 18, 2014 6:28 pm

Canada joins the trade call

As part of its new internationalisation thrust, the second largest economy in North America directly called for a fresh trade round with Sri Lanka on 18 November while Sri Lanka beamed with satisfaction on its success with yet another NAFTA member-and more than 100 Lankan firms of all sizes packed EDB’s pioneering ‘Exporting to Canada’…

(0)Comments | November 18, 2014 6:27 pm

Stock Market Review – 18th Nov 2014

Colombo equities advanced on Tuesday for the sixth consecutive day amid net foreign inflow. During the six days, core index gained 144.85 index points (+2.0%) and witnessed net foreign inflow of LKR 2.6bn. ASI advanced by 24.23 index points or 0.32% to end at 7,548.23 recording 43-month high while S&P SL20 index crossed 4,200 mark…

(0)Comments | November 18, 2014 6:17 pm

Unrealized Profit of the EPF Portfolio of Investments in equity passes the Rs.14 billion mark

The “mark to market” value of EPF’s investment sin equities as at 14 November 2014 exceeded Rs.14 billion, in the background of the favourable equity market performances. In addition, the EPF has also realized Rs.6.7 billion by way of dividends, debenture interest and capital gains from its investments in equities and corporate debt instruments, so…

(0)Comments | November 18, 2014 10:15 am

Stock Market Review – 17th Nov 2014

Colombo stock market started weekly operations on optimistic note and maintained positive momentum gained on last week. Main index bagged 22.91 index points or 0.31% to end at 7,524.00 while 20-scrip S&P index gained 14.26 index points (+0.34%) to end at 4,170.08. Price appreciations in counters such as Dialog Axiata (closed at LKR 13.20,+5.6%), Nestle…

(0)Comments | November 17, 2014 6:49 pm

African power warms up for historic trade triathlon with Sri Lanka

The newest entrant to Africa’s top ten list called for renewed trade with Sri Lanka on 12 November-and the yearning for trade renewal was such, it wants a historic feat of more than three trade pacts with Sri Lanka in one go by next year itself! “We are looking forward to more trade interaction, and…

(0)Comments | November 17, 2014 6:38 pm

Highest Ever Foreign Inflows to the CSE

In a year that has proved to be record breaking, the Colombo Stock Exchange has reached yet another milestone in 2014 by recording its highest-ever inflow of foreign investment into the equity secondary market. Foreign purchases in 2014 as at 14th November is Rs. 95,083.8 Million surpassing the previous highest foreign purchases of Rs.92, 425….

(0)Comments | November 17, 2014 6:32 pm