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Stock Market Review – 11th July 2014

Colombo stocks slugged the seven day winning streak on Friday to close the weekly operations on negative note. Main index declined by 7.46 points or 0.11% to end at 6,661.40 and 20-script S&P SL index declined by 26.98 points or 0.72% to end at 3,708.16. Price depreciations in primary blue chips such as Carson Cumberbatch…

(0)Comments | July 11, 2014 6:27 pm

Another court order against sale of PCH Holdings shares

Lanka ORIX Finance PLC has stated that it has obtained a court order against the crisis ridden PCH Holdings PLC selling any of its assets including shares in Dynaris Holdings PLC. Any sale of assets in violation of this order would be considered as contempt of court. Lanka ORIX Finance PLC says that since Dynaris…

(0)Comments | July 11, 2014 3:56 pm

Why are EPF-rejected Hemas shares valuable to Templeton Trust?

The purchase of Hemas Holdings Limited shares to the tune of nearly Rs. 1.5 billion recently by Templeton Trust which a world prominent investments fund, portrays the faith of the international investors on the company as well as on Sri Lanka, said A.N. Esufally, a member of Hemas Holdings Limited. While speaking to AdaderanaBiz.lk, Esufally…

(0)Comments | July 11, 2014 3:24 pm

Dubai’s Mall of the World to be built in 10 years

The much-talked about Mall of the World project, a massive temperature-controlled indoor city and shopping complex in Dubai, will take about ten years to complete and require Dh25 billion in funds. It is not clear yet when the construction of the project will start, but according to Dubai Holding Chief Executive Ahmad Bin Byat, the…

(0)Comments | July 11, 2014 1:06 pm

Stock Market Review – 10th July 2014

Colombo equity market flourished with higher returns on Thursday for the seventh consecutive day in a row, boosting the All Share Index up more than 290.24 points so far for the month.  Main bourse advanced notably by 55.02 points (+0.83%) to close at 6,668.86 while S&P SL 20 advanced by 29.08 points (+0.78%) to close…

(0)Comments | July 10, 2014 5:27 pm

World Cup: Prostitutes in Brazil report business hasn’t picked up during tournament

It would seem to be the most common sense conclusion: Hundreds of thousands of tourists, overwhelmingly male, come to the famously sensual city of Rio de Janeiro, where the women wear tiny bikinis and prostitution is legal. Sex work, therefore, must be booming during the World Cup. A team of academic researchers, including men and…

(0)Comments | July 10, 2014 4:35 pm

2Q14 Capital Markets Revenue Expected Lower for US GTUBs

Capital market revenues for US global trading and universal banks (GTUBs) will be lower year over year when large banks kick off 2Q reporting on July 11, predicts Fitch Ratings, with continued fixed income, currency and commodities (FICC) declines outpacing improving equity capital markets business and M&A. While some GTUBs have publicly telegraphed this potential…

(0)Comments | July 10, 2014 4:04 pm

Top rung changes at Finlays Colombo

The current Managing Director of the long standing Finlays Colombo PLC is to resign on 14 July and a new Managing Director has been appointed to replace him. Finlays Colombo PLC says current Managing Director Samuel Compton Swire would resign while Alexander Christian Nicolas Johansen would replace him. After his resignation Samuel Compton Swire would…

(0)Comments | July 10, 2014 1:49 pm

Laugfs introduces EGI Hybrid Technology in Sri Lanka

EGI Hybrid Center, a subsidiary of Laugfs Holdings Limited recently announced the latest EGI Hybrid Technology to the booming Sri Lankan automotive industry. In a bid to transform Sri Lanka’s energy consumption, EGI Hybrid brings the latest, tested, recommended and used transport fuel to local consumers.  Speaking on the introduction of EGI Technology in Sri…

(0)Comments | July 10, 2014 1:05 pm

Ratnapura expressway from Ingiriya to Gelanigama interchange

The proposed Ratnapura expressway is to be constructed between Pelmadulla to Ingiriya and it would be connected to the Southern expressway’s Gelanigama interchange through the existing highway at Ingiriya, said Ports and Highways Deputy Minister Nirmala Kothalawala. “The Ratnapura expressway will be from Ingiriya to Pelmadulla. For this we have identified areas with state and…

(0)Comments | July 10, 2014 12:17 pm