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Orient Garments files affidavit opposing its winding up

Under a petition on Orient Garments PLC with respect to a winding up operation filed before the Western Province Provincial High Court on 03 March 2015, the company has taken immediate steps to oppose this winding up operation by filing an affidavit as per the terms of the Company Winding Up Provisions.

(0)Comments | March 12, 2015 1:16 pm

Janashakthi amalgamates Orient Finance with Bartleet Finance

Under the Sri Lanka Central Bank’s master plan to consolidate the financial sector companies, Janashakthi PLC, earlier known as Janashakthi Limited, which had controlling interests over Orient Finance PLC, has entered into an agreement with Bartleets Transcapital Limited to acquire 86.79 per cent or 6,639,998 issues ordinary share capital of Bartleet Finance PLC with the…

(0)Comments | March 12, 2015 12:58 pm

Modi's Sri Lanka visit seen as move to tame China influence

Indian Prime Minister Narendra Modi’s official visit to Sri Lanka on Friday reflects a bounce back in bilateral relations as the South Asian power seeks to mitigate China’s growing influence on its Indian Ocean neighbors. Sri Lanka is the last stop on Modi’s trip after visits to Indian Ocean island states Seychelles and Mauritius. It…

(0)Comments | March 12, 2015 12:19 pm

Stock Market Review – 11th Mar 2015

Colombo Equities surrendered early gains and closed lower for the eighth straight session on Wednesday, recording the longest losing streak since February 2014 as rising interest rates continued to weigh on the investor sentiment. At today’s T-bill auction, the yields rose across the board with 3-month, 6-month and 1-year yield reaching 7.10% (+21bps), 7.31% (+33bps)…

(0)Comments | March 11, 2015 5:32 pm

Stock Market Review – 10th Mar 2015

Colombo equities witnessed lackluster trading session on Tuesday where market closed with mixed results. Main index continued the losing streak for the sixth consecutive day shedding 6.28 index points (-0.09%) to end at 7,130.05 while 20-scrip S&P SL index marginally gained 2.99 index points (+0.07%) to close at 4,087.97. Price declines in counters such as…

(0)Comments | March 10, 2015 5:33 pm

Beware, those manipulating senior citizens’ bank accounts

The Bank of Ceylon is on its alert to find out whether certain persons or parties are involved in obtaining low interest loans from state banks and depositing the funds in senior citizens’ fixed deposit accounts to obtain the specified 15 per cent interest rates, said Bank of Ceylon General Manager D.K. Gunasekera. Keen attention…

(0)Comments | March 10, 2015 2:00 pm

JVP to take Sri Lanka Central Bank Treasury Bond allegations to Bribery Commission

The Janatha Vimukthi Peramuna (JVP) would lodge a complaint with the Commission to Investigate Allegations on Bribery and Corruption on the allegations against the recent Treasury Bond issue of the Sri Lanka Central Bank, says JVP North Central Provincial Councillor Wasantha Samarasinghe. Allegations continue to be leveled that the recent 30 year Treasury Bonds issue…

(0)Comments | March 9, 2015 6:48 pm

Dr. Kelegama to steer Singer (Sri Lanka)

While Dr. Saman Kelegama has been appointed as Chairman of Singer (Sri Lanka) PLC with effect from 01 April, its long-time Chairman and Director Hemaka Amarasuriya is to retired with effect from 31 March 2015. Dr. Kelegama is currently the Chairman of Singer Finance (Lanka) PLC and a Director of Singer (Sri Lanka) and Regnis…

(0)Comments | March 9, 2015 6:31 pm

Stock Market Review – 09th Mar 2015

Colombo equities started the weekly operations on a negative note continuing the bearish momentum amid thin market activities. The benchmark All share price index dropped to a nearly one month low of 7,136.33 with a drop of 47.17 points (-0.66%) while S&P SL 20 index lost 12.37 points or -0.30% to end at 4,084.68. Core…

(0)Comments | March 9, 2015 5:33 pm

President’s attention towards Treasury Bond issue raising allegations: Three member committee appointed

President Maithripala Sirisena has directed that investigations be carried out into the allegations that the recent 30 year Treasury Bonds issue by the Central Bank had been carried out while enabling a certain Primary Dealer to gain capital profits. The President’s media unit states that he has ordered the President’s secretary to appoint a three-member…

(0)Comments | March 9, 2015 1:58 pm