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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

LOLC Group acquires BRAC Lanka Finance

Commercial Leasing & Finance PLC acquired 59,581,204 shares (56.34 percent) of BRAC from BRAC Lanka Investments Private Limited at Rs. 9.70 per share. A mandatory offer will be made for the remaining shareholders. LOLC Micro Investments Limited, a wholly owned subsidiary of LOLC presently holds 35.02 percent shares of BRAC. Commercial Leasing & Finance, which…

(0)Comments | September 11, 2014 11:56 pm

Otara gives up ODEL, sells total shares to Softlogics

Founder of ODEL PLC Otara Gunawardene sold her entire shares in the company to the Softlogic Group for nearly Rs 2.7 billion. Her brothers and Directors of ODEL Ajith and Ruchi Gunawardene sold their shares as well. A total of 80.8 million shares from Otara, 39.4 million from Ajith and one million from Ruchi Gunawardene…

(0)Comments | September 11, 2014 8:22 pm

CSE’s S&P SL20 crosses 4000 mark

The Colombo Stock Exchange crossed another benchmark at the close of trading today (11th), with the S&P SL20 surpassing the 4000 mark (for the first time since its launch) and closing at 4013.18. The S&P SL20 was launched on the 26th of June 2012 and at the end of that year showed a growth of…

(0)Comments | September 11, 2014 8:21 pm

Stock Market Review – 11th Sep 2014

Colombo Bourse ended an enthusiastic trading session on Thursday recording a nearly 3-week high turnover of LKR 5.6bn. Benchmark All share price index gained 36.00 points or 0.50% to end at 7,199.25 while S&P SL 20 index crossed the 4,000 level today to close at 4,013.18 with a gain of 24.59 points or 0.62%. The…

(0)Comments | September 11, 2014 8:13 pm

Coconut oil – Sri Lanka’s next opportunity in Japan

The Japanese show much care and concern over their food habits. Since a Japanese scientist has discovered that coconut oil being used in the preparation of meals retards Alzheimer’s disease, the most common form of dementia – the Japanese are using more and more coconut oil in their food preparations, says Sri Lanka’s Ambassador in…

(0)Comments | September 11, 2014 10:39 am

CSE achieves historic benchmark: Market Cap crosses Rs. 3 Trillion

The Market Capitalisation of the Colombo Stock Exchange (CSE) crossed Rs. 3 Trillion for the first time in the history of the Exchange. At the close of trading today Market Capitalisation was at Rs.3, 006.7 Billion. The Market Capitalisation measures the market determined value of all listed voting shares. This exceptional performance comes in the…

(0)Comments | September 10, 2014 7:53 pm

Stock Market Review – 10th Sep 2014

Market capitalization of Colombo Bourse exceeded the LKR 3 trillion milestone for the first time as the main index reached 38-month high of 7,163.25 in today’s trading session. So far in the month of September, core index managed to bag 129.16 index points (+1.8%) while 20-scrip S&P SL index gained 116.08 index points (+3.0%). ASI…

(0)Comments | September 10, 2014 7:39 pm

Apple Watch Unveiled Alongside New Larger Iphones

APPLE has unveiled a smartwatch – the Apple Watch – its first new product line since the first iPad and the death of its co-founder Steve Jobs. The device runs apps, acts as a health and fitness tracker and communicates with the iPhone. While rival smartwatches already exist, experts said Apple had a history of…

(0)Comments | September 10, 2014 3:50 pm

Most expensive mansion in US lists for $139 million

A French-inspired mansion has just hit the market for an astronomical $139 million, making it the most expensive home for sale in the U.S. The 60,000-square-foot estate, called “Le Palais Royal,” sits on over 4 acres and 465 feet of beachfront on Millionaires Mile in Hillsboro Beach, Florida. The “palace” features 11 bedrooms, 17 bathrooms and the first…

(0)Comments | September 10, 2014 1:47 pm