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President ceremonially opens Arcade Independence Square today -Video and Photos

Another landmark in the process of the planned beautification of the city of Colombo comes alive this evening when President Mahinda Rajapaksa ceremonially declares open the luxury shopping complex and other facilities in Colombo 7. This modern shopping complex near Independence Square, established within the renovated colonial building which earlier housed the Auditor General’s Department…

(0)Comments | July 13, 2014 2:22 am

World Cup 2014 Golden Ball: Messi, Muller, Neymar in FIFA Shortlist, no Ronaldo

FIFA has officially announced the names of the 10 players in contention for the Golden Boot award usually given to the championship’s most outstanding player. Four Germans, three Argentines, and one player each from Brazil, Colombia and the Netherlands are vying for the coveted trophy, won by Uruguayan Diego Forlan in the 2010 World Cup…

(0)Comments | July 13, 2014 2:20 am

Just sold an old smartphone? Whatever you do don’t read this!

If you’re thinking of selling an old smartphone just be careful. A security firm in the Czech Republic has managed to extract thousands of images and data from second hand phones purchased on ebay. Avast used publicly available software and with just a few simple steps had accessed pictures, emails and texts. The files they…

(0)Comments | July 12, 2014 1:32 pm

Why Soccer in Brazil Is Better Than Cricket in India

Brazil isn’t alone in having a national identity so tied to a single sport. India, for one, could claim to be more obsessed with cricket than Brazil is with soccer. It is impossible to quantify which country is more passionate about their favorite sport. But, at the risk of angering a billion people from Kashmir…

(0)Comments | July 12, 2014 12:52 pm

Lucky Lanka IPO gets lucky indeed

The Initial Public Offering (IPO) by Lucky Lanka Milk Processing Company Limited has been oversubscribed by 2.00 pm today (11 July), said the managers to the issue Sri Lanka Merchant Bank. The Sri Lanka Merchant Bank said the 38 million ordinary voting shares of Rs. 228 million and the 24 million ordinary non-voting shares of…

(0)Comments | July 11, 2014 8:48 pm

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