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S&P Affirms Sri Lanka ‘B+/B’ Ratings; Outlook Stable

Overview — The rating on Sri Lanka balances external, fiscal, and institutional constraints with a strong economic growth profile, the improving financial performances of public enterprises, and declining inflation. — We are affirming our ‘B+’ long-term and ‘B’ short-term sovereign credit ratings on Sri Lanka. — The stable outlook reflects our expectation that Sri Lanka’s…

(0)Comments | July 8, 2014 7:10 pm

gmail now in Sinhalese

Google announced in a recent blog post that it has added 13 new languages to Gmail, with Afrikaans and isiZulu among them. Gmail was already available in 58 languages, and in bringing that total to 71 Google said its e-mail application now covers 94% of the world’s Internet population. The 13 languages added to Gmail…

(0)Comments | July 8, 2014 6:47 pm

Borrowers can now benefit from the new Credit Guarantee Scheme for Pawning Advances

The new credit guarantee scheme for pawning advances was introduced by Central Bank of Sri Lanka on 17 June 2014. Licensed Commercial Banks and Licensed Specialised Banks engaged in pawning activities can now provide enhanced level of credit to their customers by joining this newly introduced credit guarantee scheme. This credit guarantee scheme will support…

(0)Comments | July 8, 2014 6:26 pm

Stock Market Review – 08th July 2014

Colombo stock market reached its highest value since October 2011 where benchmark index gained 66.81 index points or 1.03% to cross 6,500 mark and end at 6,565.81. 20-scrip S&P SL index gained 58.22 index points or 1.61% to close at 3,676.11. Price appreciations in counters such as John Keells Holdings (closed at LKR 235.00, +3.5%),…

(0)Comments | July 8, 2014 6:07 pm

ASPI crosses 6,500 mark today for first time since 2011

The All Share Price Index (ASPI) at the Colombo Stock Exchange (CSE) crossed the 6,500 mark today (08 July) for the first time since 14 October 2011. The ASPI closed at 6565.73 which is up by 66.73, according to the Colombo Stock Exchange.

(0)Comments | July 8, 2014 3:02 pm

Latest status of Lucky Lanka’s IPO

While the Initial Public Offering (IPO) by Lucky Lanka Milk Processing Lanka Limited which began yesterday (07 July) is still open for investors, among the ordinary voting shares worth Rs. 228 million on public offer, shares worth Rs. 62.4 million had been applied for by 4.30 pm yesterday. Merchant Bank of Sri Lanka which is…

(0)Comments | July 8, 2014 2:41 pm

Samsung forecasts 25% drop in profit

Samsung Electronics has forecast a 25% drop in profit for the second quarter due to a slowdown in the smartphone market and a strong Korean currency. It expects to make an operating profit of 7.2 trillion won ($7.1bn; £4.2bn) in the April-to-June period, down from 9.5 trillion won a year ago. Its operating profit has…

(0)Comments | July 8, 2014 2:27 pm

Stock Market Review – 07th July 2014

Colombo equity market started weekly operations on a positive note as main bourse gained 21.49 points (+0.33%) to close at 6,499.00 while 20-script S&P SL20 index gained 7.21 points (+0.20%) to close at 3,617.89. Price appreciation in counters such as Lion Brewery (closed at LKR 525.00, +15%), John Keells Holdings (closed at LKR 227.00, +1%)…

(0)Comments | July 7, 2014 5:13 pm

Aureos South Asia Fund sells all Sunshine Holdings shares

Aureos South Asia Fund LLC, through its nominee director N.B. Weerasekera has informed Sunshine Holdings PLC that it has sold 02 million shares of the company at Rs. 32 per share. Accordingly, Aureos South Asia Fund LLC has sold all its shares with Sunshine Holdings PLC.

(0)Comments | July 7, 2014 1:03 pm

Interim order against sale of PC House assets

While PC House Holdings PLC prepares to sell its 100 percent stake in its carbon manufacturing concern Beico Link Carbon (Pvt) Ltd, a new stakeholder of this company Adams Investments Limited has obtained an interim order against this transaction. Adams Investments Limited has informed the Colombo Stock Exchange that it has obtained an interim order…

(0)Comments | July 7, 2014 12:51 pm