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Commercial Credit and Finance acquires remaining shares of Trade Finance and Investments

Commercial Credit and Finance PLC has acquired 55,037,154 representing 96.89 per cent remaining shares of Trade Finance and Investments PLC at Rs. 28 per share. As a result of this acquisition the Commercial Credit and Finance shares in Trade Finance and Investments has exceeded the threshold of 30 per cent and it became obligatory for…

(0)Comments | November 11, 2014 10:08 am

All set for Sri Lanka’s DFCC Bank to be made public limited company

The Speaker of Parliament has certified the registration of the DFCC Bank as a public limited company incorporated with the name DFCC Bank PLC under the Companies Act on November 01, 2014. This would enable the DFCC Bank to carry out its activities as a licensed specialized bank from the date specified by the Minister….

(0)Comments | November 11, 2014 9:52 am

Market Review – 10th Nov 2014

Colombo shares started the weekly operations on a negative note as All share price index lost 12.77 points or 0.17% to end at 7,403.38 while 20-script S&P SL 20 index lost 7.43 points or 0.18% to end at 4,120.87. The losers were mainly led by counters such as DFCC Bank (closed at LKR 225.00, -1.8%),…

(0)Comments | November 10, 2014 5:46 pm

Sri Lanka’s first global O-Fish confab unveiled in Colombo

As Sri Lanka’s ornamental fish (O-fish) exports discovered promising new markets in 2013, the country’s first ever Global O-Fish Confab went live on 10 Monday with the presence of renowned int’l industry leaders and top government Ministers-and Sri Lanka’s O-Fish policies are developed with environmental sustainability and endemic species in mind. “Considering our government’s initiatives,…

(0)Comments | November 10, 2014 3:42 pm

That pot of gold at the end of the rainbow just got a lot less valuable

Gold and silver prices have been in meltdown mode in recent weeks. Gold spent much of 2014 trading around $1,250 an ounce. Now it trades below $1,145 — its lowest level in over four years. Why are gold and silver going out of fashion with investors? It’s simple: The “end-of-the-world trade” is no longer popular….

(0)Comments | November 10, 2014 12:25 pm

‘Biz 24X7’ Interview with the Chairman of the Urban Development Authority

Ada Derana ‘Biz 24X7’ Interview with the Chairman of the Urban Development Authority (UDA) Mr. Nimal Perera.

(0)Comments | November 10, 2014 11:18 am

BMW develops street lights with electric car-charging sockets

FRANKFURT (Reuters): BMW has developed street lights equipped with sockets to charge electric cars, it said on Friday, and will run a pilot project in Munich next year that uses existing local authority lighting networks. BMW said it has made two prototype “Light and Charge” street lights which combine efficient Light Emitting Diodes (LED) with…

(0)Comments | November 7, 2014 9:47 pm

Hayleys records healthy growth in 1H 2014/15

Hayleys PLC, one of Sri Lanka’s leading conglomerates, in a filing to the Colombo Stock Exchange reported healthy growth in 1H of 2014/15.  The Group achieved revenue growth of 15% amounting to Rs 45.5 Bn in 1H 2014/15; whilst Profit After Taxation (PAT) grew 30% in the second quarter contributing to a PAT of Rs….

(0)Comments | November 7, 2014 9:42 pm

Stock Market Review – 07th Nov 2014

Colombo shares concluded in positive territory on Friday as core index notably advanced by 57.69 points or 0.78% to close at 7,416.15 while 20-script S&P SL 20 index gained 26.19 points or 0.64% to close at 4,128.30. The gains were mainly driven by price appreciations in counters such as Ceylon Tobacco (closed at LKR 1,150.00,…

(0)Comments | November 7, 2014 5:20 pm

For first time in history Sri Lanka’s tourist arrivals passes 1.2 million mark

Latest government data shows that for the first time in Sri Lanka’s history, tourist arrivals during the 10 months of this year has passed the 1.2 million mark. The significant feature is the huge increase in the arrival of Chinese tourist to Sri Lanka. According to this data, 1,228,754 tourists have arrived in Sri Lanka…

(0)Comments | November 7, 2014 3:31 pm