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Stock Market Review – 16th Sep 2014

Colombo equities ended on Tuesday in the positive territory as the core index gained mere 1.13 points or 0.02% to close at 7,176.10 while S&P SL 20 index marginally gained 2.34 points or 0.06% to close at 3,976.76. Price progression in counters such as Hemas Holdings (closed at LKR 54.00, +4.7%), Nestle Lanka (closed at…

(0)Comments | September 16, 2014 5:43 pm

Breaking News- Lionel Richie in Sri Lanka for gigantic performance

World famous American singer, song writer, musician, record producer and actor Lionel Richie is to arrive in Colombo in October for a gigantic performance. This musical extravaganza at the Sri Lanka Exhibition & Convention Centre on 11 October is to celebrate the 25th anniversary of Sri Lanka’s prominent construction company Access Group. Managing Director of…

(0)Comments | September 16, 2014 12:05 pm

Stock Market Review – 15th Sep 2014

Colombo share market started weekly operations on a negative note where both indices shed some of the hefty returns gained on last seven consecutive sessions. ASI declined by 43.71 index points or -0.61% to close at 7,174.97 while 20-scrip S&P SL index slipped by 41.21 index points or -1.03% to end at 3,974.42. Price declines…

(0)Comments | September 15, 2014 11:14 pm

People’s Leasing & Finance debenture issue oversubscribed

The People’s Leasing & Finance PLC’s 15 million debenture issue of Rs. 100 each has been oversubscribed. The issue will close at 4.30 pm today (15 September) and the basis of allotment would be notified to the Colombo Stock Exchange in due course.

(0)Comments | September 15, 2014 11:57 am

HNB finances Softlogic’s strategic investment in ODEL

Hatton National Bank PLC, the premier private sector commercial bank in Sri Lanka, recently financed Softlogic Group’s strategic investment in the leading fashion brand ODEL, enabling the conglomerate to further strengthen its presence in the apparel and fashion accessories market. Softlogic purchased the shareholdings of Otara Gunawardene, and brothers Ajith and Ruchi Gunawardene (press release…

(0)Comments | September 15, 2014 7:21 am

EPF Share Portfolio’s Unrealized Profits passes Rs 10 billion mark

The net unrealized profits of the EPF share portfolio passed the Rs 10 billion mark on 11th September 2014. In addition, realized capital gains and dividends have amounted to Rs 3.4 billion so far, this year. This milestone was particularly significant since during the first half of 2014, there were allegations levelled at the EPF…

(0)Comments | September 14, 2014 12:18 am

Airline boss suggests Malaysian MH17 tragedy could have been avoided

The boss of Emirates has suggested that airlines would have avoided flying over Ukraine long before flight MH17 crashed, if information about missiles in the area had been passed on. Sir Tim Clark told the BBC there had been evidence of weapons for weeks. But he claimed those in the know didn’t share it with…

(0)Comments | September 13, 2014 11:59 pm

Union Bank appoints Indrajith Wickramasinghe as CEO designate

The Union Bank of Colombo has appointed Indrajith Wickramasinghe as its Chief Executive Officer Designate with effect from 15 October 2014. Mr. Wickramasinghe will take over as Chief Executive Officer from 15 November 2014. He fills the vacancy created by the retirement of Anil Amarasuriya as Director/ Chief Executive Officer with effect from 15 November…

(0)Comments | September 13, 2014 12:46 pm

‘Otara’ – Will there be a ‘reincarnation’ from ODEL?

Otara along wither brothers Ajit and Ruchi Gunewardene sold their entire shares in ODEL PLC this morning (11 September) at the Colombo Stock Exchange. Most were taken by surprise by this sudden development in one of the most sought after fashion retail outlet entity. The initial response from sources revealed that Otara Gunewardene had decided…

(0)Comments | September 12, 2014 12:01 pm

Fitch Affirms Sri Lanka’s Dialog Axiata at ‘AAA(lka)’/Stable

Fitch Ratings has affirmed Sri Lanka-based telecoms company Dialog Axiata PLC’s (Dialog) ‘AAA(lka)’ National Long-Term Rating. The Outlook is Stable. KEY RATING DRIVERS Parent Support: Dialog’s rating of ‘AAA(lka) includes a single notch uplift from its stand-alone credit profile based on Fitch’s assessment of strong operational and strategic linkages with its stronger 83%-parent, Axiata Group…

(0)Comments | September 12, 2014 12:00 pm