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Singer Sri Lanka debenture issue oversubscribed

The issue of 10 million listed, rated, unsecured, redeemable senior debentures issued by Singer (Sri Lanka) PLC at Rs. 100.00 each with an option to issue up to another further five million has been oversubscribed. The issue has received applications in excess of an aggregate value of Rs. 1.5 billion. Accordingly the issue will close…

(0)Comments | December 17, 2014 3:54 pm

Top team from the Hague starts Lanka’s first Chem sessions

Sri Lanka has kicked off its first ever industrial chemical technical sessions on 17 December-and a top team from the Hague’s (Netherlands) OPCW- which conducted widely publicised Syrian chemical weapon inspections in October 2013–is here to upgrade Sri Lanka’s industrial chemical expertise to the next level. “Chemical safety and security measures help to prevent re-emergence…

(0)Comments | December 17, 2014 3:28 pm

Lanka Clear prepares for electronic revolution _ Video Interview

Lanka Clear which handles the cheque clearance in Sri Lanka has prepared several projects to make electronic financial transactions easier. Lanka Clear Chief Executive Officer Sunimal Weerasuriya expressed his views on these projects while speaking to Below is the interview BIZ 24X7 of Ada Derana 24X7 had with Lanka Clear CEO Sunimal Weerasuriya:

(0)Comments | December 17, 2014 11:34 am

Stock Market Review – 16th Dec 2014

Colombo equities extended the losses for the fourth consecutive day amid bearish investor sentiments. Main index lost 6.70 points (-0.09%) to end at 7,223.56 while S&P SL 20 index marginally lost by 2.15 points (-0.05%) to end at 4,067.46. Today’s losses were mainly led by counters such as John Keells Holdings (closed at LKR 250.00,…

(0)Comments | December 16, 2014 6:13 pm

NDB-DFCC Bank consolidation: Latest revelation by NDB Chairman – (Video Interview)

The NDB-DFCC Banks consolidation process is proceeding successfully and they are preparing a new name for the consolidated bank, NDB Chairman Sunil Wijesinghe told Below is the interview BIZ 24X7 of Ada Derana 24X7 had with NDB Chairman Sunil Wijesinghe, where he revealed several other details:

(0)Comments | December 16, 2014 3:54 pm

The Finance Company PLC continues second phase of restructuring

In keeping with the directions of the Monetary Board at its meeting held on 26 May 2014, the Central Bank has continued the implementation of the second phase of the restructuring of The Finance Company PLC (TFC) in order to further stabilise the Company and move it to a profitable level, in terms of the…

(0)Comments | December 16, 2014 1:18 pm

Russia raises key interest rate to 17% amid rouble decline

The Russian central bank has announced it is increasing its key interest rate from 10.5% to 17%. The bank said the move was to try to ease the rouble’s recent descent in value. The Russian rouble has dropped to a new low against the US dollar, as falling oil prices and Western sanctions continue to…

(0)Comments | December 16, 2014 12:46 pm

Constituent Changes to the S&P Sri Lanka 20 Index

Colombo Stock Exchange (CSE) announces the changes in S&P Sri Lanka 20 index constituents made by S&P Dow Jones Indices at the 2014 annual index rebalance as follows. S&P Dow Jones Indices today announced that effective from the December 22, 2014 (after the market close of December 19, 2014), Asian Hotels & Properties PLC (CSE…

(0)Comments | December 16, 2014 11:15 am

‘Momentum’ – Asia’s largest synchronized professional forum to be held for the first time in Sri Lanka

Organized by ‘Professionals for a Stable Sri Lanka’; Momentum, Asia’s largest synchronized professional forum will be held on Wednesday 17th December, 2014. To be held simultaneously at four locations – Cinnamon Grand, Cinnamon Lakeside, Hotel Galadari and JAIC Hilton Colombo Residencies – the forum will feature top professionals in business and social sectors, sharing their…

(0)Comments | December 15, 2014 4:00 pm

Stock Market Review – 15th Dec 2014

Colombo bourse started weekly operations on negative note continuing the lackluster trading session for third consecutive date.  Core index marginally shed 6.11 index points or 0.08% to end at 7,230.26 while 20-scrip S&P SL index slightly dropped by 5.53 index points (-0.14%) to close at 4,069.61. Price declines in counters such as John Keells Holdings…

(0)Comments | December 15, 2014 3:36 pm