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DFCC Bank Debenture Issue oversubscribed, closing at 4.30 pm today

The DFCC Bank Debenture Issue has been oversubscribed and hence will close at 4.30 pm today (07 August). The issue is for 30 million Senior, Unsecured, Redeemable, Rated Debentures of DFCC Bank at Rs. 100.00 each with the option to issue up to 20 million debentures in the event of an oversubscription. Subscriptions have been…

(0)Comments | August 7, 2014 11:43 am

2014 Maruti Suzuki Swift to Launch in November; Price, Feature Details

Maruti Suzuki, the country’s largest car maker is reportedly gearing up to launch its new Swift facelift in India in November this year, according to reports. If you are planning to buy a hatchback, we suggest you to wait for few more months as the auto market in India is getting ready to welcome new…

(0)Comments | August 7, 2014 11:22 am

Stock Market Review – 06th Aug 2014

Colombo shares regained the lost ground on Wednesday as both indices closed with positive returns. Benchmark All Share Price index closed at a 34-month high of 6,833.26 with a gain of 17.84 points or 0.26%. S&P SL 20 index gained 9.76 points or 0.26% to end at 3,752.79. Price increases in counters such as Union…

(0)Comments | August 6, 2014 6:16 pm

Italy falls back into recession

Italy’s economy has fallen back into recession, latest official figures show, after contracting for two quarters in a row. GDP, the value of all the country’s goods and services, shrank 0.2% in the second quarter of the year. The surprisingly weak number follows a 0.1% contraction in the first quarter. At the end of last…

(0)Comments | August 6, 2014 3:19 pm

Shang-Jin Wei takes office as ADB chief economist

Shang-Jin Wei, a professor of finance and economics at Columbia University’s Graduate School of Business located in New York City, started work today as Chief Economist of the Asian Development Bank (ADB). Wei will serve as ADB’s spokesperson on economic issues and head its Economics and Research Department, which leads policy research on development challenges…

(0)Comments | August 6, 2014 1:39 pm

Virtusa’s Kris Canekeratne named ‘CEO of the Year’

Virtusa Corporation, a global business consulting and IT outsourcing company that combines innovation, technology leadership and industry solutions to transform the customer experience, today announced that its CEO Kris Canekeratne was given the ‘CEO of the Year’ award by World HRD Congress-Thought Leaders International at a grand awards ceremony in Mumbai. The ‘CEO of the…

(0)Comments | August 5, 2014 5:51 pm

Stock Market Review – 05th Aug 2014

Colombo equity market ended on a negative note despite non-banking financial segment (NBFI) gaining rapidly due to consolidation process. Core index shed 6.73 index points or 0.10% to end at 6,815.42 while 20-scrip S&P SL index declined by 17.30 index points to close at 3,743.03. Price declines in counters such as Ceylon Tobacco Company (closed…

(0)Comments | August 5, 2014 5:17 pm

Dr. Lawrence Fritsgerald takes over as CEO of Orient Garments PLC

Orient Garments PLC has appointed its Director Dr. Lawrence Mervyn Fritsgerald as Chief Executive Officer with effects from 4 August 2014.

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

Cargills Bank takes over Capital Alliance Finance

While Cargills Bank has bought 70 percent shares of Capital Alliance Finance PLC, trusted sources told adaderanabiz.lk that Cargills Bank would endevour to further increase this share in the future. Cargills Bank bought 68 percent shares of Capital Alliance Finance through three agreements at Rs. 15.50 and Rs. 15.40 per share, another 02 percent was…

(0)Comments | August 5, 2014 1:36 pm

Amãna Bank sponsored mountaineer Elmo Francis breaks 4 SL records

Mountaineer Elmo Francis who recently voyaged to climb Mt Everest was successful in achieving four altitude records for Sri Lanka. Amãna Bank, Sri Lanka’s only licensed commercial bank which is disengaged from any interest based transaction, partnered the local mountaineer on this record breaking expedition.  Having planned to reach an altitude of 7500 meters by…

(0)Comments | August 4, 2014 9:45 pm