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Stock Market Review – 03rd Sep 2014

Colombo equities managed to regain lost grounds on Wednesday where ASI witnessed notable positive returns. Core index inclined by 22.28 index points (0.32%) to close at 7,047.10 and S&P SL20 index gained 12.38 index points or 0.32% to end at 3,886.88. Price appreciations in blue-chips such as Ceylon Tobacco (LKR 1,200.00, +1.7%), John Keells Holdings…

(0)Comments | September 3, 2014 6:52 pm

Officials warn that ELEVEN missing airplanes seized by Islamist rebels in Libya could be used to carry out terrorist attack

U.S. officials fear Islamic militants have stolen nearly a dozen commercial planes in Libya which could be used to carry out 9/11-style terrorist attacks in the region. Eleven commercial jets operated by two state-owned airlines went missing last month, after militant group Libyan Dawn overtook the international airport in the capital city of Tripoli. In…

(0)Comments | September 3, 2014 3:08 pm

NSB international bonds attract more US investors

The National Savings Bank (NSB) yesterday successfully completed its international dollar bond issue at an attractive interest rate advantageous to the bank. According to Bloomberg News Service, though initially the NSB had announced the Initial Price Guidance for this issue as 5.5 percent, finally it had been sold at a lower interest rate like 5.15…

(0)Comments | September 3, 2014 11:53 am

Amana Bank Ltd becomes Amana Bank PLC

The name of Amana Bank Limited has been changed to Amana Bank PLC. This follows its shares being listed on the Colombo Stock Exchange and the receipt of the certificate of incorporation from the Registrar of Companies, Sri Lanka.

(0)Comments | September 2, 2014 10:05 pm

Panasian Power acquires 90% in Padiyapelella Hydro Power

Panasian Power PLC has completed its acquisition of 90 percent stake in Padiyapelella Hydro Power Limited. Panasian Power Ltd (PAP) is a wholly owned subsidiary of Power Hub International Sbn Bhd, Malaysia, registered with the Board of Investment of Sri Lanka since April 22, 2002.

(0)Comments | September 2, 2014 9:57 pm

Stock Market Review – 02nd September 2014

Colombo shares lengthen the losses on Tuesday to close in negative territory. ASI started the month of September on losses yesterday after the significant gain of 220.19 points in August. Core index declined by 6.07 points (-0.09%) today to end at 7,024.82 while 20-script S&P SL 20 index marginally lost 2.89 points (-0.07%) to end…

(0)Comments | September 2, 2014 6:06 pm

NSB launches International Bond Issue

The National Savings Bank (NSB) launched a five year International Bond Issue today (02 September) to raise USD 250 million. Acording to Bloomberg News Service its Initial Guidance is 5.5 percent. The sales managers to this Issue are Barclays, Citigroup and HSBC banks. The global credit rating agency Fitch Ratings has issued a BB-(EXP) to…

(0)Comments | September 2, 2014 4:30 pm

How traders track Twitter to beat the market

In a world where information is plentiful and abundant, traders are always trying to make money by finding that hidden advantage. Many are betting that 140 characters is all it takes to beat the market. Some professionals in the world of high finance are relying on Twitter and other social media to try to get…

(0)Comments | September 2, 2014 2:21 pm

Stock Market Review – 01st September 2014

Colombo equity market started the weekly operations in mixed note where All share price index lost 3.20 points or -0.05% to close at 7,030.89. S&P SL 20 index gained 4.88 points or 0.13% to end at 3,877.39. Price declined in Ceylon Tobacco (closed at LKR 1,180,-1.4%), Nestle Lanka (closed at LKR 2,100.00, -2.2%) and Cargills…

(0)Comments | September 1, 2014 6:28 pm

Commercial Bank buys Indra Finance for Rs. 870 million

The Commercial Bank of Ceylon PLC has purchased the entirety of the shares of Indra Finance Limited represented by 21.6 million ordinary shares for Rs. 870 million under the consolidation programme of the Central Bank of Sri Lanka. Commercial Bank had announced this transaction last July. This transaction has received the approval of the Monetary…

(0)Comments | September 1, 2014 4:15 pm