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Stock Market Review – 29th Oct 2014

Colombo bourse witnessed notable returns on Wednesday where main index advanced for the fifth consecutive day. ASI index bagged 38.78 index points or 0.54% to end at 7,265.90 while S&P SL20 index gained 21.33 index points (+0.53%) to close at 4,029.43. Price inclines in counters such as Lanka IOC, Lanka Orix Leasing Company & Hatton…

(0)Comments | October 29, 2014 6:09 pm

Why do Sri Lankan companies hesitate to reduce vehicle prices?

It has come to light that since the prices of motorcars and vans face a reduction according to the 2015 Budget proposals, vehicle importing companies have begun discussions with the government to urge for concessions on vehicles imported under the earlier duty system and hence they are yet to reduce the prices of motorcars and…

(0)Comments | October 29, 2014 1:23 pm

Sri Lanka’s Global Rubber Confab goes live in Colombo

The first ever Global Rubber Confab to take place in Sri Lanka went live in Colombo on 28 October morning with the host Sri Lanka vowing to become a ‘polymer hub’-with none other than the World Bank Washington praising the move. “By supplying both natural and synthetic rubber in parallel, there is a good possibility…

(0)Comments | October 29, 2014 6:23 am

Stock Market Review – 28th Oct 2014

Market closed in opposite directions on Tuesday as core index gained 6.04 points or 0.08% to end at 7,227.12 while S&P SL 20 index lost 6.12 points or 0.15% to end at 4,008.10. Price improvements in counters such as Ceylon Tobacco (closed at LKR 1,150.00, +1.1%), Ceylon Cold Stores (closed at LKR 265.00, +6.3%) and…

(0)Comments | October 28, 2014 8:09 pm

EXCLUSIVE: Finance Ministry studying issue of vehicle permits to Sri Lanka’s overseas workers

The Finance Ministry is currently involved in a special study of the procedures to issue duty free vehicle permits to Sri Lankans working overseas and remitting valuable foreign exchange to the country as proposed through the 2015 Budget proposals as a mark of gratitude for their services. The Budget has proposed that overseas workers could…

(0)Comments | October 28, 2014 9:49 am

Lanka Orix Leasing debenture issue

The Colombo Stock Exchange has approved Lanka Orix Leasing Company PLC to list its debt securities. Accordingly, 50 million senior unsecured redeemable rated debentures are to be offered at an issue price of Rs. 100 each. Subscription list opens on 18 November 2014 and the registrars to the issue are SSP Corporate Services Private Limited…

(0)Comments | October 27, 2014 9:38 pm

Stock Market Review – 27th Oct 2014

Colombo stock market started weekly operations on positive note where bourse managed to maintain momentum gained on last session. Core index advanced 7.60 index points or 0.11% to close at 7,221.08 while 20-scrip S&P SL index gained 10.43 index points (+0.26%) to close at 4,014.22. Price appreciations in John Keells Holdings (closed at LKR 250.00,…

(0)Comments | October 27, 2014 6:49 pm

Sri Lanka’s Otara bids goodbye to ODEL

The pioneer of Sri Lanka’s ODEL chain of fashion garments and accessories retail outlets, Otara Del Gunawardene bids adieu as Executive Director and Chief Executive Officer to her creation with effect from 31 October. Currently, 93.2 per cent controlling shares of ODEL are with prominent Sri Lankan businessman Ashok Pathirage’s Softlogic Group. Recently, Softlogic Group…

(0)Comments | October 27, 2014 5:55 pm

Colombo garbage to Puttalam? Sri Lanka Air Force Battaramulla camp to be shifted

There are plans to take the garbage collected from Colombo and its suburbs to Orugodawatte and from there to transport it to Puttalam by rail in sealed containers for dumping at abandoned lime stone quarries, said Minister of Environment and Renewable Energy Susil Premajayantha. He said this process would take another few years and would…

(0)Comments | October 27, 2014 1:35 pm

Electric cars in Sri Lanka too will be cheaper

The electricity powered cars to be imported to Sri Lanka would also be cheaper, according to the Vehicle Importer’s Association of Sri Lanka. This is due to the tax imposed on import of electric cars to Sri Lanka being reduced from 38 to 23 per cent through the Budget proposals for 2015. In April this…

(0)Comments | October 27, 2014 12:33 pm

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