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Now Otara of Odel fame builds homes for needy in Sri Lanka

Habitat for Humanity calls on corporates with a conscience: World Habitat Day 2014 theme shines the spotlight on ‘Voices from Slums’ Habitat for Humanity Sri Lanka (HFHSL) calls on corporates to help improve life conditions in the country with a special focus on those who live in dilapidated housing, encapsulated in this year’s World Habitat…

(0)Comments | October 13, 2014 8:57 pm

DFCC Bank to register under Sri Lanka’s Companies Act

A Bill was introduced in Parliament to register the DFCC Bank as a public limited company incorporated under the Companies Act with the name DFCC Bank PLC. This Bill will become law once passed by Parliament and certified by the Speaker.

(0)Comments | October 13, 2014 8:37 pm

Sri Lanka’s Renuka Holdings eyes at Rupees one billion

Renuka Holdings PLC is preparing for a Rights Issue to raise nearly Rs. 01 billion to be invested in its property development project at Kollupitiya in Colombo 3. The company is to issue 44 million ordinary voting shares at Rs. 21 each and six million ordinary non-voting shares at Rs. 15 each. These shares are…

(0)Comments | October 13, 2014 8:28 pm

Debenture Issue by Sri Lanka’s Mercantile Investments & Finance

Mercantile Investments & Finance PLC is preparing for a Debenture Issue to raise Rs. 200 million. The Colombo Stock Exchange has approved the company’s application to list its debt securities. Accordingly, 02 million senior, unsecured, redeemable, rated debentures are to be issued at Rs. 100 each. The issue opens on 30 October and the managers…

(0)Comments | October 13, 2014 8:13 pm

Sri Lanka’s Daya Gamage led Bimputh Finance obtains foreign loan

Bimputh Finance PLC headed by United National Party Parliamentarian and the party’s national organiser Daya Gamage has obtained a loan from the Luxemburg based capital investment fund to expand the micro finance operations of the company. Bimputh Finance has obtained a loan of USD 750,000 from the fund Incofin IM’s Rural Impulse Fund S.A. SICAV-FI….

(0)Comments | October 13, 2014 7:59 pm

Stock Market Review – 13th Oct 2014

Colombo bourse started weekly operations on negative note where market witnessed the highest intraday loss after 13 months amid net foreign inflows. In last four sessions, ASI shed 222.38 index points (-3.0%) and S&P SL20 index shed 145.76 index points (-3.5%). Main index slipped by 136.78 index points or 1.9% to end at 7,184.22 while…

(0)Comments | October 13, 2014 5:27 pm

Etisalat in talks on sale of Sri Lankan unit

The UAE’s largest telecoms operator, Etisalat, has begun initial talks with several international telecom operators, including India’s Bharti Airtel, over the potential sale of its Sri Lankan unit. A source close to Etisalat told Arabian Business that Airtel was one of several operators to approach the company. Etisalat began its operations in Sri Lanka in…

(0)Comments | October 13, 2014 10:10 am

Cigarette prices increased – CTC

Price of cigarettes have been increased by Rs. 1 and Rs. 2 with effect from today, the Ceylon Tobacco Company said a short while ago.

(0)Comments | October 10, 2014 1:08 pm

Lottery opens for first Toyota fuel-cell vehicle

Toyota showed the world its upcoming FCV fuel-cell vehicle during CES earlier this year, and now the first owner will be decided through a drawing being conducted by the Environmental Media Association (EMA). Restricted to California residents, entries can be registered at the Bidding For Good site for a fee of $100 each. The car…

(0)Comments | October 10, 2014 10:37 am

MTD Walkers looking at Rs. 2.3 bundle of cash

MTD Walkers PLC, the construction, production and engineering services company well known locally and internationally is preparing to raise around Rs. 2.3 billion through a Rights Issue. The company is to issue 53.2 million shares in the ratio of 466 shares to every 1,000 existing shares held at Rs. 45 per share. The funds thus…

(0)Comments | October 10, 2014 10:31 am