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Sri Lanka stocks close higher
Sep 29, 2014 (LBO) – Sri Lanka’s stocks closed higher with the turnover crossing 3.4 billion rupees mark despite strong foreign selling, brokers said. Foreign investors bought 375.47 million rupees worth shares while selling 2.27 billion rupees worth shares. Lion Brewery Ceylon closed 14.50 rupees higher at 630.10 rupees and People’s Leasing and Finance closed […]
Appointment
Sep 29, 2014 (LBO) – Sri Lanka’s Union Bank was appointed as a primary dealer in government securities in terms of the Registered Stock and Securities Ordinance and the Local Treasury Bills Ordinance by the Central Bank, the bank said in a media release. Union Bank will commence its business on 1st of October, 2014.
More paths
Sep 29, 2014 (LBO) – Sri Lanka’s UB finance to open more avenues to improve the small and medium sector and the lifestyle of the people, the company said in a media release. UB finance, a financial service solution provider is a subsidiary of Union Bank of Sri Lanka. In the coming year, UB Finance […]
Greece Bonds
Sep 29, 2014 (LBO) –Sri Lanka’s Supreme Court dismissed the Fundamental Rights application filed by Mr Sujeewa Arjune Senasinghe of Colombo 3 against the Monetary Board complaining that the Central Bank, in purchasing Greece Government Bonds, had acted in an unlawful, irresponsible and an arbitrary manner, Central Bank said in a media release. This decision […]
Sri Lanka stocks close higher
Sep 26, 2014 (LBO) – Sri Lanka’s stocks closed higher with the turnover crossing 2.7 billion rupees mark despite strong foreign selling, brokers said. The Colombo benchmark All Share Price Index closed 0.73 points higher at 7,233.71, up 0.01 percent. The S&P SL20 closed 4.60 points lower at 4,008.42, down 0.11 percent. Turnover was 2.73 […]
Sri Lanka exports surged 14 percent in first eight months of 2014
Sep 26, 2014 (LBO) – Sri Lanka’s exports have surged by 14.3 percent to 7.34 billion US dollars in the first eight months of 2014 in comparison to 2013 January-August official of Industry and Commerce of Sri Lanka said. The eight months increase of 2014 have been led by agricultural products at 1.778 billion dollars […]
Sri Lanka to get $800mn ADB loan to upgrade rural road links
September 26, 2014 (LBO) – Sri Lanka to get 800 million US dollar loan facility which approved by Asian Development Bank yesterday to fund rural and national road upgrades in six provinces in order to improve access of remote communities to markets, services, and jobs, the bank said in a media release. Providing all-weather road […]
ADB urges Asia to take advantage of global value chain opportunities
Sep 26, 2014 (LBO) – Asian economies, having reaped substantial gains from global value chains in the past 25 years, can extend these gains if governments and business work together to reduce tariffs and non-tariff trade barriers, and improve logistics and transport infrastructure, says a new Asian Development Bank (ADB) report. •GVCs thrive only where […]
Sri Lanka stocks close down 0.3-pct
Sep 25, 2014 (LBO) – Sri Lanka’s stocks closed in red owing to negative price movements on counters such as Sri Lanka Telecom and Commercial Bank, brokers said. Sri Lanka Telecom closed 1.30 rupees lower at 51.90 rupees and Commercial Bank of Ceylon closed 1.70 rupees lower at 157.20 rupees, contributing most to the index […]
Equity Fund
Sep 25, 2014 (LBO) – Sri Lanka’s Ironwood Capital Partners, a private equity firm says that it has raised 30 million dollars for private equity investment vehicle for Sri Lanka post-2009 with an aim of strengthen the national economy through key strategic investments and support the development of the private equity industry in the country. […]
SEC rules
Sep 25, 2014 (LBO) – Sri Lanka Security Exchange Commission says the managing companies and trustees of unit trust should maintain a minimum number of fifty unit holders for each fund at all the times, the commission said in the media release. Where the minimum number if unite holders falls below the specified minimum threshold […]
British Airways to cease flights to Colombo by March 2015
Sep 25, 2014 (LBO) – British Airways announced that the flights operations to Colombo will be ceased from 28th March 2015 due to an unprofitability that the route makes, the company said in a media release.The Colombo route is not making a profitable contribution to our business and we are unable to sustain it, Christopher […]