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CSE greenlight for Richard Pieris debenture issue

The Colombo Stock Exchange (CSE) has approved Richard Pieris to list its debt securities at the stock market. Accordingly, the CSE has approved the Company’s 30,000,000 Rated Unsecured Redeemable Debentures at an issue price of Rs. 100 each with an option to issue another 5,000,000 Debentures in the event the initial 30,000,000 debentures are oversubscribed….

(0)Comments | April 16, 2014 10:30 am

China gold demand to rise, World Gold Council says

China’s demand for gold is set to rise by about 20% over the next few years, the World Gold Council has estimated, as the population becomes more wealthy. The council estimates private sector demand for gold in China will rise to at least 1,350 tonnes by 2017. Chinese customers bought 1,132 tonnes of gold last…

(0)Comments | April 15, 2014 4:41 pm

China’s Yue Yuen shoe factory workers in large strike

Thousands of workers at a major shoe factory in China, which supplies brands including Nike and Adidas, are striking over social security payments. Workers at the Yue Yuen factory, in the southern industrial hub Dongguan, are demanding better social insurance and housing fund contributions. The dispute has been ongoing since early April, with workers reportedly…

(0)Comments | April 15, 2014 3:51 pm

Increase in business tourist arrivals in Sri Lanka

With the development of the tourism industry in Sri Lanka the number of business travelers too has reportedly seen marked increase. Accordingly, the number of business tourists in 2013 has increased by 4.8 percent to 94,320. However, in 2009 only 38,473 business travelers had arrived in Sri Lanka. The number of tourists to Sri Lanka…

(0)Comments | April 15, 2014 5:27 am

Rise in Sri Lanka’s unemployment

Sri Lanka’s unemployment rate has shown an increase last year. While the unemployment rate had been 4.0 percent in 2012 it has increased to 4.4 percent in 2013. According to the Central Bank of Sri Lanka the cause for this increase has been the entry of a large number of new employment seekers into job…

(0)Comments | April 13, 2014 4:30 am

Maruti to recall 1,03,311 units of Ertiga, Swift, DZire

India’s largest car maker Maruti Suzuki on Friday said it will recall over one lakh units of its popular models — Ertiga, Swift and DZire – to replace faulty fuel filler neck. The recall, one of the biggest by the company, will impact 42,481 units of DZire, 47,237 units of Swift and 13,593 units of Ertiga manufactured…

(0)Comments | April 12, 2014 1:54 am

Stock Market Review

Colombo bourse concluded the weekly operations in a positive note as both indices closed higher. Benchmark All share price index gained 17.29 (+0.28%) points to close at 6,092.34 and 20-script S&P SL index marginally gained 1.92 (+0.06%) points to close at 3,346.92.  Price progression in Sri Lanka Telecom (closed at LKR 48.00, +3.5%), Lanka IOC…

(0)Comments | April 11, 2014 12:40 pm

Bairaha to set up new Rs.1.65 billion animal feed factory

Bairaha Farrns Plc. has decided to collaborate in a new project to set up a large scale, state of the art commercial animal feed manufacturing factory together with raw materials procurement and modern post-harvest storage facilities. The joint-venture known as Fortune Agro Industries (Pvt) Ltd is promoted by another poultry producer namely Farms Pride (Pvt)…

(0)Comments | April 11, 2014 12:31 pm

Cargo Boat ‘unloads’ Colombo 2 property

Cargo Boat Development Company PLC sold its share of the property at No. 29, Braybrook Street, Colombo 2 to Renuka Land (Pvt) Ltd. for a sum of Rs. 107,200,000 on 10 April 2014.

(0)Comments | April 11, 2014 10:52 am

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