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Sri Lanka stocks close down 0.8-pct
Sep 02, 2015 (LBO) – Sri Lankan stocks closed down 0.80 percent on Wednesday for the third consecutive session with investors continuing to take profits, brokers said. The Colombo benchmark All Share Price Index closed down 58.36 points at 7,240.39 down 0.80 percent. S&P SL20 closed 26.05 points lower at 3,981.27 down 0.65 percent. “Investors […]
Sri Lanka Kalpitiya Beach Resort says new plan on track
Sep 02, 2015 (LBO) – Sri Lanka’s troubled Kalpitiya Beach Resort, a subsidiary of Citrus Leisure PLC which blamed the former government for not developing Kalpitiya to build their hotel from the money they raised through an Initial public offering says the new plan for the construction of a Ayurveda spa resort is on track. […]
Dialog CEO says data pricing structures require correction: OBG
(From the Oxford Business Group) ** Data pricing structures would require correction in the face of voice to data conversion and emergence of OTTs, Hans Wijayasuriya, Group CEO, Dialog Axiata, says ** Sri Lanka, August 2015: The transformation of the telecoms industry in Sri Lanka will come in the form of accelerated data growth, emergence […]
Google launches new mobile friendly logo
Sep 02, 2015 (LBO) – Google unveiled a new logo for its core search services smoothing out some of the features in the letters that make up the well-known colourful logo spelling out its name, the company said in a blog report. The revamped logo is “simple, uncluttered, colorful, friendly” and represented the best of […]
Sri Lanka accounting body urges govt to maintain & publish accounts
Sep 02, 2015 (LBO) – Sri Lanka’s Institute of Chartered Accountants, a professional accounting, body urged the government to maintain accounts and publish them, as the government is answerable to the public for how they use income.“Public sector is a very important area.We are making all endeavors for government to move in to accounting which […]
Global markets plunge on weak China factory data
Sept 02, 2015 (LBO) – Data from China suggesting a contraction in factory activity threw global markets into a selling frenzy Tuesday with the U.S. S&P 500 plunging 2.9 percent and the London FTSE falling 3.03 percent. This was after Shanghai closed 1.2 percent earlier in the day. Colombo stocks fell a smaller 0.11 percent […]
Ceylon Motor Traders set standards for vehicle deals in Sri Lanka
Sep 02, 2015 (LBO) – The Ceylon Motor Traders Association last week ceremonially launched their ethics code as a move to boost public credibility in the automobile industry. The ethics code includes 46 key proposals that are to be adhered to by 26 member firms of the association. The membership of the 95-year long association […]
Nestlé Lanka PLC Opens Trading at CSE
Nestlé Lanka PLC (NEST) opened trading on the Colombo Stock Exchange (CSE) today. This event was yet another in a series of Market Opening Ceremonies, featuring the companies from the S&P SL20 index. Managing Director Mrs. Shivani Hegde, Non-Executive Director Mr. Mahen Dayananda, Non-Executive Director Mr. Ranjan Seevaratnam, Executive Director and Vice President – Finance […]
Coca Cola Sri Lanka resumes operations, will pay compensation: CEA
Sept 01, 2015 (LBO) – The environmental protection license of Coca Cola’s Sri Lanka unit has been reinstated after the company addresed the oil seepage into the Kelani river, and agreed to pay compensation for the damage, the Central Environmental Authority said.“Coca cola has agreed to pay costs associated with the environmental damage, impact on […]
Sri Lanka’s new foreign policy to focus Asian centric middle path: President
Sep 01, 2015 (LBO) – Sri Lanka’s new unity government will focus on building an Asian centric middle path as the foreign policy of the country, President said. “Openness and friendliness will be the base of our foreign policy.This is the century of Asia; so from now my government will be more focused on Asian centric […]
Sri Lanka stocks close down 0.1-pct: Profit taking
Sep 01, 2015 (LBO) – Sri Lankan stocks closed down 0.11 percent on Tuesday with investor taking profit and losses in the banking sector stocks, brokers said. The Colombo benchmark All Share Price Index closed down 8.19 points at 7,298.75 down 0.11 percent. S&P SL20 closed 18.94 points lower at 4,024.09 down 0.47 percent. “Almost […]
Nestle Lanka continues Rs 10bn investment plan; to comply with listing rule
Sep 01, 2015 (LBO) – Nestlé Lanka, a unit of the Swiss-based food group, said they would continue to invest in infrastructure, brands and people as part of a 5-8 year plan to invest 10 billion rupees in the island.“We’ve so far invested about four billion rupees and this is ongoing and there is no […]