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Stock Market Review

Colombo bourse closed in opposite directions on Thursday, as benchmark All share price index marginally lost 5.90 points (-0.09%) to end at 6,280.16 while S&P SL 20 index marginally gained 1.43 points to end at 3,473.43. Price declines in counters such as Sri Lanka Telecom (closed at LKR 46.50, -3.1%), Bukit Darah (closed at LKR…

(0)Comments | June 5, 2014 5:00 pm

NDB-DFCC merger: Sunil Wijesinghe reveals latest details

An international consultant is reportedly to be brought in to handle matters relating to the merger of the National Development Bank (NDB) and the DFCC Bank under the programme to merge Sri Lanka’s banks and financial institutions. NDB Bank head Sunil Wijesinghe told AdaderanaBiz work on selecting this international consultant is in progress now and…

(0)Comments | June 5, 2014 3:02 pm

Stock Market Review

Colombo equities managed to close on positive territory as both indices witnessed marginal returns. All Share Index gained 0.04 index points or 0.00% to close 6,286.06 while 20-scrip S&P SL index gained 1.25 index points or 0.04% to end at 3,472.00. Price appreciations in counters such as Dialog Axiata (closed at LKR 10.00, +2%), Ceylon…

(0)Comments | June 4, 2014 6:08 pm

No progress in power generation in spite of heavy rains

Though it is raining in most parts of Sri Lanka these few days, it has been revealed that there is no progress in the electricity generation. While commenting on this, Ceylon Electricity Board (CEB) chairman W.B. Ganegala told AdaderanaBiz that only 16 percent of the daily electricity needs are being generated through hydro power. “Though…

(0)Comments | June 4, 2014 3:49 pm

World dairy prices slump – down 4.2pc overnight

Dairy product prices continued their drop to the lowest level since February 2013 in the latest GlobalDairyTrade auction, paced by rennet casein and whole milk powder. The GDT price index dropped 4.2 per cent to US$3,756 a tonne, the eighth consecutive drop and the lowest since February 2013. Some 37,012 tonnes of product was sold,…

(0)Comments | June 4, 2014 3:48 pm

What CGR, CTB, Postal Dept. do to public revenue

Compared to 2012, the subsidy that the government provided through last year’s budget to cover the losses in operating costs of government institutions has increased by Rs. 02 billion. Accordingly, the government provided Rs. 13.8 billion through the 2013 budget to cover the losses in operating costs of government institutions while it had provided Re….

(0)Comments | June 4, 2014 12:56 pm

You can now invest up to $125,000 overseas

A strong rupee has emboldened Reserve Bank of India to relax some of the foreign exchange related restrictions including the individual overseas remittance limit of $75000 per year which has been hiked to $125000. The central bank has also allowed foreign institutional investors to hedge their investments plus and additional $10 million using exchange traded…

(0)Comments | June 4, 2014 11:45 am

Colombo Stock Exchange notifies Sierra Cables

In response to a request by Sierra Cables that its share trading be temporarily suspended till a discrepancy of Rs. 172 million in its financial statements is inquired into, the Colombo Stock Exchange (CSE) has informed the company that its share trading has been suspended until the particular financial accounts are rectified by the company’s…

(0)Comments | June 3, 2014 6:52 pm

Stock Market Review

Colombo stock market failed to maintain positive momentum gained in last trading session where market witnessed lackluster trading day. Benchmark index declined by 6.39 index points or 0.10% to end at 6,286.02 while 20-scrip S&P SL index gained marginally by 0.56 index points or 0.02% to close at 3,470.75. Price depreciations in Nestle Lanka (closed…

(0)Comments | June 3, 2014 5:22 pm

Samsung launches first Tizen phone

Samsung Electronics has launched the world’s first smartphone powered by the Tizen operating system. The Samsung Z will go on sale in Russia in the July-to-September quarter. Most Samsung phones currently use the Android platform, but the South Korean firm has been working with chipmaker Intel to develop Tizen as an alternative operating system. It…

(0)Comments | June 3, 2014 1:41 pm