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Stock Market Review – 26th Aug 2014

Colombo bourse closed with mixed returns on Tuesday where benchmark All share price index advanced by 29.29 points (+0.42%) to end at 7,013.32 while S&P SL 20 index marginally lost 3.42 points (-0.09%) to end at 3,851.85. Price appreciation in counters such as Richard Pieris (closed at LKR 9.20, +18%), Commercial Leasing & Finance (closed…

(0)Comments | August 26, 2014 11:01 pm

New ASEAN’s biggest market opens to Lankan biz

The largest economy and the market in the New ASEAN announced that its business sector is officially ready for wider engagement with Sri Lankan biz sector-and hinted it’s time for a Lankan biz council on its own soil. “The idea to establish a Vietnam-Sri Lanka Business Council right here in Vietnam is a good initiative-in…

(0)Comments | August 26, 2014 12:47 pm

California Governor Signs Law Requiring a ‘Kill Switch’ on Smartphones

Governor Jerry Brown of California on Monday signed into law a measure that requires smartphones sold in California to include smarter antitheft technology, a feature that lawmakers hope will help reduce phone theft. The bill, introduced by State Senator Mark Leno and sponsored by George Gascón, San Francisco’s district attorney, requires a so-called “kill switch”…

(0)Comments | August 26, 2014 11:50 am

Looking out for special person arriving in Sri Lanka soon

The one millionth tourist to Sri Lanka this year is expected to arrive in a day or two and all preparations have been made to welcome him or her, said Sri Lanka Inbound Tour Operators’ Association president Mahendra Kariyawasam. Last year, Sri Lanka reached its one million tourist mark by end in November 2013. However,…

(0)Comments | August 26, 2014 11:22 am

Meet Sobrr, the anti-Facebook app

What would you do if you only had one day to live? Probably not spend time downloading and fiddling with a mobile app, we’re guessing. But a new app, Sobrr, wants you to embrace life in just that way. It lets you create a social network geared toward meeting new people around you, sharing photos…

(0)Comments | August 26, 2014 10:56 am

India’s Muthoot Finance buys 167 million Asia Asset Finance shares

Asia Asset Finance PLC sold 167,685,600 of its ordinary shares to an Indian registered company in Kerala, Muthoot Finance Limited at Rs. 1.60 per share. This constitutes approximately 29.97% of the total number of Asia Asset Finance shares on issue.

(0)Comments | August 25, 2014 9:46 pm

Stock Market Review – 25th Aug 2014

Colombo equity market started weekly operations on a negative note where both indices shed returns gained on last week. Core index slipped 23.99 index points or 0.34% to close at 6,984.03 while 20-scrip S&P SL index declined 8.61 index points or 0.22% to end at 3,855.27. Price declines in counters such as John Keells Holdings…

(0)Comments | August 25, 2014 5:42 pm

Central Bank enters into an Investment Agreement with People’s Bank of China

The Central Bank of Sri Lanka and the People’s Bank of China entered into a Bilateral Investment Agreement on Bond Investment on the 25th August 2014, which enables the Central Bank of Sri Lanka to further diversify its reserves management activities into Chinese Renminbi denominated assets. As a result, the Central Bank of Sri Lanka…

(0)Comments | August 25, 2014 5:05 pm

Cargills, International Finance Corp reach USD 20 million agreement

Cargills (Ceylon) PLC has entered into an agreement with the International Finance Corporation (IFC) for an equity investment into Cargills Foods Company (Private) Limited which is the wholly owned subsidiary carrying out the retail operations of Cargills (Ceylon) PLC. IFC is to invest approximately USD 20 million (Rs. 2,550 million) to subscribe in an 8%…

(0)Comments | August 25, 2014 3:55 pm

Performance of Sri Lankan Rupee

When compared to the US dollar the Sri Lankan Rupee had appreciated by 0.45 percent during the first eight months of this year, says the Central Bank of Sri Lanka (CBSL). Meanwhile, from 01 January to 18 August 2014 the Sri Lankan Rupee has appreciated 3.50 percent as compared to the Euro and 2.62 percent…

(0)Comments | August 25, 2014 1:27 pm