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Stock Market Review – 24th June 2014

Colombo equities witnessed a positive trading momentum on Tuesday where both indices recorded gains. Main bourse gained 11.52 index points or 0.18% to end at 6,310.87 while S&P SL20 index gained 21.19 index points or 0.61% to end at 3,496.12. Price increases in equities such as John Keells Holdings (closed at LKR 221.60, +0.7%), Commercial…

(0)Comments | June 24, 2014 5:32 pm

Google ‘testing’ domain name service

Google has unveiled plans for its own domain name registration service. The firm is “testing” a service that will allow consumers “to search, find, purchase and transfer” domain names for their business. An increasing number of businesses are looking to set up their online presence, boosting demand for domain names. Google’s move comes just as…

(0)Comments | June 24, 2014 4:20 pm

Report of census on war damages to be released soon

The final report of the census held by the Department of Census & Statistics on the details of the deaths, disabled, destructions to property and assets caused by the war in the north and the east could be handed over to the Lessons Learned and Reconciliation Commission (LLRC) within another three months, said the department’s…

(0)Comments | June 24, 2014 1:30 pm

Stock Market Review- 23rd June 2014

Colombo equity market started its weekly operations on Monday with negative returns as main bourse declined by 3.10 index points or 0.05% to close at 6,299.35 while 20-scrip S&P SL index declined by 3.93 index points or 0.11% to end at 3,474.93. Price depreciations in counters such as John Keells Holdings (closed at LKR 220.30,…

(0)Comments | June 24, 2014 6:06 am

Seylan Bank appoints Upali Dharmadasa as new Director to the Board

Seylan Bank PLC announced the appointment of Mr. Upali Dharmadasa as a Director of the Bank with effect from 09th June 2014. A high-profile industrialist, with strong leadership qualities, proven strategic abilities and an inherent and abiding interest in all matters concerning business and cricket, Mr. Dharmadasa counts over 32 years of experience in corporate…

(0)Comments | June 23, 2014 9:59 pm

National Capital Holdings to de-list from CSE

NDB Capital Holdings PLC (NCAP) has decided to de-list the ordinary shares of the company from the official list of the Colombo Stock Exchange (CSE) subject to shareholder and regulatory approvals. NCAP has made arrangements with its majority shareholder National Development Bank PLC (NDB) to purchase the shares of the minority shareholders who may wish…

(0)Comments | June 23, 2014 11:01 am

Sri Lanka an apparels producer but 60% market still with foreign brands

Though Sri Lanka is a prominent apparels manufacturing country, it has been revealed that around 60 percent of the apparels sold in the local market are those from countries like China, India and Indonesia. Sri Lanka’s retail apparels market is worth around USD 02 billion, said Sri Lanka Apparel Brands Association (SLABA) chairman Indradaththa Dharmawardene….

(0)Comments | June 21, 2014 4:42 pm

EXCLUSIVE – Lion buys Three Coins

Lion Brewery Ceylon PLC owned by Carson Cumberbatch PLC and Carlsberg Malaysia has bought the Cargills Group owned ‘Three Coins’ brewery, reliable market sources told AdaderanaBiz.lk Distilleries Limited too had made a bid while the Three Coins Brewery had impacted negatively on the Cargills Group profits. It has been further revealed that the Lion Brewery…

(0)Comments | June 20, 2014 2:52 pm

Sri Lanka rejects reports of Iran crude imports via 3rd parties

The Sri Lankan Government today rejected a news report, quoting a minister, claiming that Sri Lanka imports Iran Crude via third parties to avoid US sanctions. “The attention of the Ministry of External Affairs has been drawn to a Reuters news item attributing to the Government Spokesperson and Minister of Mass Media and Information Keheliya…

(0)Comments | June 20, 2014 12:10 pm

Sri Lanka’s April exports up

Sri Lanka’s external sector strengthened further in April 2014, with continued foreign currency inflows in the form of earnings from exports, tourism, workers’ remittances, as well as inflows to the financial account. The trade deficit continued to narrow during the first four months of 2014 as a result of healthy growth in exports. The contraction…

(0)Comments | June 20, 2014 11:26 am