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EPF stake in Central Finance reach 10%

Investment in Central Finance Company PLC by the Employees’ Provident Fund (EPF) has reached 10 percent of the issued share capital of the company.

(0)Comments | April 11, 2014 10:37 am

Samsung Galaxy S5 goes on sale worldwide

The latest version of Samsung’s flagship Galaxy smartphone series went on sale worldwide Friday, days after the electronics giant announced it was facing a second consecutive quarter of profit decline. The Galaxy S5 has a lot riding on it to steer the South Korean firm’s profit-making machine back on track as growth in smartphone sales…

(0)Comments | April 11, 2014 8:44 am

Mangala Yapa bids adieu to Colombo Dockyard

Managing Director and Chief Executive Officer of Colombo Dockyard Ltd. Mangala Prema Banda Yapa has retired from his post. Onomichi Dockyard Co. Ltd of Japan which is the major shareholders of Colombo Dockyard Ltd. has appointed Ranil Wijegunawardene as the Managing Director and Chief Executive Officer.

(0)Comments | April 11, 2014 5:46 am

BlackBerry Ltd CEO John Chen clarifies handset comments, no plan to abandon business ‘any time soon’

NEW YORK — BlackBerry Ltd would consider exiting its handset business if it remains unprofitable, its chief executive officer said on Wednesday, as the technology company looks to expand its corporate reach with investments, acquisitions and partnerships. “If I cannot make money on handsets, I will not be in the handset business,” John Chen said…

(0)Comments | April 10, 2014 7:57 pm

Stock Market Review

Equity market ended on Thursday with negative returns as All share price index declined by 8.50 (-0.14%) points to close at 6,075.05 and S&P SL 20 index declined by marginally 0.82 points (-0.02%) to close at 3,345.14. Price depreciations in counters such as Sri Lanka telecom (closed at LKR 47.50, -0.2%), John Keells Holdings (closed…

(0)Comments | April 10, 2014 10:46 am

NDB sells Maldives shares, brings dollars to Sri Lanka

The National Development Bank (NDB) has sold 35 percent of its shares of a Maldivian finance company for USD 1.1 million. The NDB said it had sold some 224,875 of its shares with the Maldives Finance Leasing Company. A Maldivian company, Tree Top Investment has bought these shares from NDB.

(0)Comments | April 10, 2014 10:45 am

LIOC prepares to celebrate higher profits

Lanka India Oil Company (LIOC) has increased its profits during the last quarter ended on 31 March 2014, said the company’s chief. While speaking to AdaderanaBiz, LIOC Managing Director Sobodh Dakwale said, “Though we have still not released our financial statement for the last quarter ending 31 March, we can confidently say that the profits…

(0)Comments | April 10, 2014 6:23 am

Toyota Lanka on look out for recalled vehicles in Sri Lanka too

Reports in the international media yesterday indicated that manufacturers of the popular Toyota motor vehicles was recalling 6.4 million of its vehicles world-wide due to various manufacturing defects. When AdaderanaBiz inquired from Toyota Lanka General Manager – Services, Matheesha Samaranayake whether there are any such defective vehicles among those sold in Sri Lanka as well,…

(0)Comments | April 10, 2014 6:09 am

Stock Market Review

Colombo shares managed to sustain the positive momentum to close with higher returns. Benchmark All share price index advanced by 11.39 (+0.19%) points to end at 6,083.55 and S&P SL20 index advanced by 19.26 points (+0.58%) to end at 3,345.96. Price appreciation in counters such as Lion Brewery (closed at LKR 390.00, +4.8%), Ceylinco Insurance…

(0)Comments | April 9, 2014 12:43 pm

Southern Expressway earns Rs. 3.4 million per day

It has been revealed that the Southern Expressway has earned a normal daily income of Rs. 3.4 million in 2013 and that around 8,700 vehicles have used the expressway per day. This has been stated in the Annual Report of the Central Bank of Sri Lanka. If the daily income has been Rs. 3.4 million…

(0)Comments | April 9, 2014 10:53 am