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Colombo stocks decline on Monday

Colombo stocks declined on Monday, retreating from a 9-week high, as investors took some profit after three straight sessions of advances. Main index advanced to 7,280 mark in the opening hours but failed to maintain the momentum and declined by 21.82 index points (-0.30%) to close at 7,247.23. 20-scrip S&P SL index edged slightly lower…

(0)Comments | July 27, 2015 5:32 pm

Cars speeding into Sri Lanka: Imports during first five months tops USD 478 million

Latest data released by the Central Bank of Sri Lanka indicates that in Sri Lanka’s import growth, vehicle imports stand second to all others during the first five months of the current year. The growth in vehicle imports to Sri Lanka has risen significantly by 93.9 per cent from January 2015 to May 2015 as…

(0)Comments | July 27, 2015 1:27 pm

Asbicon opens new office in Sri Lanka to bolster presence in South East Asia

Asbicon Group, one of the world’s leading consumer goods specialist firms enabling retail and distribution effectiveness recently established its presence in Sri Lanka in a bid to further strengthen its presence in the South East Asia region.  Primarily aimed at meeting rapidly growing client requirements, this new presence will support the business needs of the…

(0)Comments | July 27, 2015 1:02 pm

Fitch Places Ceylon Income Fund on Rating Watch Negative

Fitch Ratings has placed the National Fund Credit Quality Rating assigned to the Ceylon Income Fund of ‘A(lka)’ on Rating Watch Negative as there is uncertainty regarding the credit quality of a significant portion of the funds’ underlying assets. KEY RATING DRIVERS This action comes after the Securities and Exchange Commission of Sri Lanka (SEC)…

(0)Comments | July 27, 2015 11:25 am

Sri Lanka says it suffers $75 million revenue loss due to EU fish exports ban

Sri Lanka says it has suffered a revenue loss of $75 million (68 million euros) because of a European Union ban on fish caught by Sri Lanka-flagged vessels. Brussels accuses Sri Lanka of allowing vessels to fish the Indian Ocean without marine satellite positioning equipment, making it virtually impossible to monitor their movements. Sri Lanka…

(0)Comments | July 27, 2015 6:21 am

Treasury guarantee to Bank of Ceylon for Outer Circular Highway Phase II RDA loan

The government is to grant a Treasury guarantee to the Bank of Ceylon for the Road Development Authority (RDA) to enter into a loan agreement with the Bank for the consultancy services for construction supervision of civil works for the Northern Expressway Phase II stretch of the Kerawalapitiya to Kadawatha Outer Circular Highway project. This…

(0)Comments | July 25, 2015 10:03 pm

James Packer splashes out on $500,000 diamond necklace for new love Mariah Carey

JAMES Packer and Mariah Carey were snapped backstage at a Las Vegas concert enjoying a private moment, the US songstress wearing a $500,000 necklace Packer had splashed out on. The photo was taken in Las Vegas moments after Mariah Carey told her fans of her “new heart”. The 45-year-old mega star looked elated after dedicating…

(0)Comments | July 25, 2015 1:58 pm

Gmail messages can now self-destruct

Dmail, a new Google (GOOG) Chrome plugin, gives you complete control over how long your recipient can view your email. This can prove a great asset for more secure communications or when discussing personal information. The Chrome extension adds a “Send with Dmail” button next to the regular “Send” button in any email you compose….

(0)Comments | July 25, 2015 1:23 pm

DFCC and DFCC Vardhana amalgamate

DFCC Bank PLC and DFCC Vardhana Bank PLC are to amalgamate. Following this amalgamation, DFCC Bank PLC will be the surviving entity effective 01 October 2015. An Extraordinary General Meeting of DFCC Vardhana Bank PLC is to be held at 2.00 pm on 28 August 2015 at the DFCC Bank head office at No. 73/5,…

(0)Comments | July 24, 2015 8:25 pm

Colombo stocks close notably higher

Colombo stocks closed notably higher on Friday, posting strong weekly gains amid central banks decision to keep the policy rates steady. ASI closed 56.43 points or 0.78% higher at 7,269.05 while S&P SL 20 index closed up 30.44 points or 0.75%, at 4,071.65. The strong demand for blue chips lifted the ASI to a near-9…

(0)Comments | July 24, 2015 5:57 pm