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Expenditure for construction of express and other highways

The latest data released by the Ministry of Finance indicate that the expenditure on development of roads and highways has increased by 72 percent during the first quarter of this year compared to the same period last year. The Mid-Year Fiscal Position Report 2014 reveals that Rs. 55 billion has been spent on developing Sri…

(0)Comments | July 9, 2014 1:02 pm

Venture Engine 2014 sparks new ideas

Venture Engine 2014 programme organized to provide the financial support for new Sri Lankan entrepreneurs on their new ventures, has decided to fund several businesses with new ideas. Fourteen business systems were selected for the final round of this programme organized by Sri Lanka’s Blue Ocean Ventures and Indian Angel Networks from India and were…

(0)Comments | July 9, 2014 1:01 pm

Senthilverl sells a block of Pan Asia

R. Senthilverl, a prominent investor in the Colombo Stock Exchange has sold 9.1 percent or 26.8 million shares of Pan Asia Bank to Taprobane Holdings Limited at around 10.49 this morning. This transaction has been carried out as a crossing where the shares have been sold at Rs. 20 each, say informed sources. This transaction…

(0)Comments | July 9, 2014 1:00 pm

40 percent in Sri Lanka are computer literate

Forty percent of the population in Sri Lanka is computer literate, reveals the latest Mid-year Fiscal Report released by the government. This has been revealed by the Mid-year Fiscal Report 2014 released by the Finance Ministry. This report also states that among every 9.8 among 100 persons among the population enjoy access to the internet….

(0)Comments | July 8, 2014 7:11 pm

S&P Affirms Sri Lanka ‘B+/B’ Ratings; Outlook Stable

Overview — The rating on Sri Lanka balances external, fiscal, and institutional constraints with a strong economic growth profile, the improving financial performances of public enterprises, and declining inflation. — We are affirming our ‘B+’ long-term and ‘B’ short-term sovereign credit ratings on Sri Lanka. — The stable outlook reflects our expectation that Sri Lanka’s…

(0)Comments | July 8, 2014 7:10 pm

gmail now in Sinhalese

Google announced in a recent blog post that it has added 13 new languages to Gmail, with Afrikaans and isiZulu among them. Gmail was already available in 58 languages, and in bringing that total to 71 Google said its e-mail application now covers 94% of the world’s Internet population. The 13 languages added to Gmail…

(0)Comments | July 8, 2014 6:47 pm

Borrowers can now benefit from the new Credit Guarantee Scheme for Pawning Advances

The new credit guarantee scheme for pawning advances was introduced by Central Bank of Sri Lanka on 17 June 2014. Licensed Commercial Banks and Licensed Specialised Banks engaged in pawning activities can now provide enhanced level of credit to their customers by joining this newly introduced credit guarantee scheme. This credit guarantee scheme will support…

(0)Comments | July 8, 2014 6:26 pm

Stock Market Review – 08th July 2014

Colombo stock market reached its highest value since October 2011 where benchmark index gained 66.81 index points or 1.03% to cross 6,500 mark and end at 6,565.81. 20-scrip S&P SL index gained 58.22 index points or 1.61% to close at 3,676.11. Price appreciations in counters such as John Keells Holdings (closed at LKR 235.00, +3.5%),…

(0)Comments | July 8, 2014 6:07 pm

ASPI crosses 6,500 mark today for first time since 2011

The All Share Price Index (ASPI) at the Colombo Stock Exchange (CSE) crossed the 6,500 mark today (08 July) for the first time since 14 October 2011. The ASPI closed at 6565.73 which is up by 66.73, according to the Colombo Stock Exchange.

(0)Comments | July 8, 2014 3:02 pm

Latest status of Lucky Lanka’s IPO

While the Initial Public Offering (IPO) by Lucky Lanka Milk Processing Lanka Limited which began yesterday (07 July) is still open for investors, among the ordinary voting shares worth Rs. 228 million on public offer, shares worth Rs. 62.4 million had been applied for by 4.30 pm yesterday. Merchant Bank of Sri Lanka which is…

(0)Comments | July 8, 2014 2:41 pm