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Sri Lanka’s Planters’ Association reaffirms commitment to assist residents in landslide prone areas

The Planters’ Association of Ceylon expresses its deep regret over the loss of lives caused by landslides in the Koslanda area last Wednesday (29 October) and reaffirms its steadfast commitment to assist other estate residents living in areas facing the danger of landslides, with the co-operation of the relevant government authorities.  Following a cabinet decision…

(0)Comments | November 3, 2014 7:09 pm

Stock Market Review – 03rd Nov 2014

Colombo stock market started weekly operations on optimistic note where both indices witnessed notable returns. Core index bagged 26.34 index points or 0.36% to end at 7,353.15 while 20-scrip S&P SL index gained 17.31 index points (+0.42%) to close at 4,104.69. Price inclines in counters such as Commercial Bank (closed at LKR 170.00, +2.5%), Hemas…

(0)Comments | November 3, 2014 6:44 pm

Sampath Bank debenture issue

Sampath Bank PLC has decided to issue 60 million debentures with an option to issue a further 10 million debentures in the event of over-subscription at a par value of Rs. 100 each.

(0)Comments | November 3, 2014 6:41 pm

HWIC Asia Fund acquires 15% shares in Sri Lanka’s Nations Trust Bank

HWIC Asia Fund has acquired shares representing 15 percent voting rights of the Nations Trust Bank PLC. HWIC Asia Fund is a multi-class investment company and its objective is long-term capital appreciation through investment primarily in securities of Asian companies.

(0)Comments | November 3, 2014 6:25 pm

Sri Lanka’s Millers Brewery goes to Lion

Millers Brewery Limited confirmed that it has concluded transferring its trademark and entire shareholdings to Lion Brewery Ceylon PLC and its subsidiary Pearl Springs (Private) Limited for Rs. 5.15 billion. With the acquisition of the trademarks, Lion Brewery Ceylon PLC has now consolidated the Millers Brewery Limited portfolio of brands into Lions portfolio and will…

(0)Comments | November 3, 2014 11:29 am

Trade renewal in offing with largest Nepali biz visit in a decade

As Lanka-Nepal trade leaped by threefold and showed new signs of revival, the biggest Nepali business delegation to Sri Lanka after almost a decade concluded their visit successfully on 02 November and also gave an unprecedented opening for the country’s artisans to enter two of the highly profitable craft markets in the region through Nepal-and…

(0)Comments | November 3, 2014 10:26 am

Fitch Downgrades Abans Plc to ‘BBB+(lka)’; Outlook Negative

Fitch Ratings has downgraded Sri Lanka-based retailer Abans Plc’s National Long-Term Rating to ‘BBB+(lka)’ from ‘A-(lka)’. Fitch has also downgraded the National Long-Term Rating on Abans’ unsecured redeemable debentures to ‘BBB+(lka)’ from ‘A-(lka)’. Fitch has affirmed Abans’ outstanding commercial paper at National Short-term Rating of ‘F2(lka)’. The one-notch downgrade reflects Fitch’s view that Abans’ medium-term…

(0)Comments | November 1, 2014 8:42 am

Stock Market Review – 31st Oct 2014

Colombo bourse wrapped the weekly operations on Friday recording a 4 week high turnover of LKR 3.8bn. The turnover was driven by the significant crossings recorded in Nations Trust Bank where 22.9mn (9.9% of the issued capital of NTB) shares changed hands at LKR 95.00 per share. The value of NTB crossings was LKR 2.2bn…

(0)Comments | October 31, 2014 5:46 pm

Sri Lanka to standardize fuel prices island-wide

The Ceylon Petroleum Corporation (CPC) says that though in the recent past fuel stations outside Colombo were permitted to sell petrol and diesel at Cents 50 to 60 more than the prices in the city this practice would be stopped from tomorrow (01 November). CPC Chairman Sirisena Amarasekera told that from tomorrow fuel would…

(0)Comments | October 31, 2014 2:42 pm

Rs. 2,500 Budget allowance to Sri Lanka’s pensioners from November

The Finance Ministry has decided to add the interim allowance of Rs. 2,500 to pensioners provided through the 2015 Budget to their payments from 10 November. Finance Ministry Deputy Secretary S.R. Attygalle told, “All steps are being taken to add the interim allowance of Rs. 2,500 to pensioners provided through the 2015 Budget to…

(0)Comments | October 31, 2014 2:31 pm