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Stock Review

Colombo equities managed to regain lost grounds on Wednesday as both indices witnessed marginal returns. All Share Index gained 5.32 index points or 0.08% to close 6,272.76 while 20-scrip S&P SL index gained 3.40 index points or 0.10% to end at 3,450.65. Price appreciations in counters such as Bukit Darah (closed at LKR 650.00, +2.2%),…

(0)Comments | May 28, 2014 5:59 pm

CEB owes more to state banks

The Rs. 40 billion that the Ceylon Electricity Board (CEB) owed to state banks by 2012 has increased to Rs. 44 billion by end 2013. Even after the revision of electricity tariffs in 2013 the government had taken action to subsidize charges to those who use less than 90 units and to industries. Meanwhile, it…

(0)Comments | May 28, 2014 3:08 pm

Do employees own 50% ownership of CIESOT ?

The investigations by the Securities & Exchange Commission (SEC) into the factual ownership of 23 percent Ceylinco Insurance Company shares owned by CIESOT (Pvt) Ltd, have been concluded and the final report has been forwarded to the Attorney General’s Department for its opinion, very reliable sources revealed to AdaderanaBiz. With the recent problems over the…

(0)Comments | May 28, 2014 2:10 pm

Modi ministry to be expanded before Budget session

PM Narendra Modi is expected to undertake the first Cabinet expansion next month when he inducts ministers to specifically deal with the portfolios of defence, law and justice, and environment and forests. Though these portfolios are important and require full-time attention, they in the current scheme have been allotted as additional charges to finance minister…

(0)Comments | May 28, 2014 12:23 pm

E Channeling to concentrate only on improving healthcare business

The boards of directors of E Channeling and its subsidiary ECL Soft Private Limited are in the medium to long term to concentrate only on the core business of its parent company E Channeling Plc, being the healthcare sector and to take healthcare sector products global with the assistance of SMS Marketing Systems Asia Private…

(0)Comments | May 28, 2014 1:31 am

John Keells profits revealed

One of Sri Lanka’s major groups of companies, John Keells has shown a dip of 09 percent in its profits while making a profit of Rs. 4.6 billion during the March quarter of 2014, indicates it latest statement of accounts. The group has gained a per share profit of Rs. 4.63 during this quarter and…

(0)Comments | May 28, 2014 1:12 am

Stock Market Review

Colombo bourse closed with negative returns on Tuesday where both indices failed to retain the positive momentum gained in previous trading session. All share price index declined by 25.58 points (0.41%) to end at 6,267.44 and S&P SL20 index declined by 15.64 points (0.45%) to end at 3,447.25. Price depreciation in counters such as Sri…

(0)Comments | May 27, 2014 5:17 pm

Will India’s Narendra Modi be a reformer?

India’s prime minister-elect Narendra Modi has been compared to Deng Xiaoping, Margaret Thatcher, Ronald Reagan, Shinzo Abe, Tayyip Erdogan and Mahinda Rajapaksa. Commentators have variously described him as assertive, dynamic, authoritarian and nationalist. Many believe he’s a genuine economic reformer. Others worry about his – and his BJP’s – hard-line Hindu credentials and wonder whether…

(0)Comments | May 27, 2014 4:00 pm

Controlling stake of Multi Finance changed to Entrust Holdings

A controlling stake of 28.6 million shares, which is 86.23 percent of Entrust Securities has been changed as a crossing at Rs. 20.50 per share at the stock market this morning to Entrust Holdings. Meanwhile, 19 million shares which is 85 percent stake of Multi Finance have also been changed as a crossing to Entrust Holdings…

(0)Comments | May 27, 2014 12:20 pm

Cash injection for The Finance from Central Bank

The Central Bank of Sri Lanka (CBSL) says it has issued the necessary directions for the future conduct of The Finance Company (TFC) under a new restructuring plan in order to stabilize the company further and move it to a profitable level. Accordingly the CBSL has reconstituted the Board of Directors of The Finance Company…

(0)Comments | May 27, 2014 10:25 am