HUTCH Partners withTransferTo

Hutchannounced the launch of their innovative value added service ‘TransferTo’ which will enable those living and working overseas to send instant credit to Hutch users residing in Sri Lanka simply via SMS.

Lackluster market

The Colombo Stock market experienced yet another lackluster day with weak investor sentiment. Furthermore ASI witnessed a cruising towards the major support level at 6,250

Turnover up, indices dip

Sri Lankan equity market continued its struggle to get out of the negative zone as benchmark indices dipped to the negative zone again. ASI decreased by 29.19 points (-0.46%) to end at 6319.25 and liquid MPI dipped by 30.61 points (-0.54%) to close at 5,631.28. The market turnover stood at Rs.2.4bn

Inflation down in October

Sri Lanka’s point to point inflation slowed to 5.1 percent in October, from 6.4 percent in September, recording the third straight monthly slowdown, according to Census and Statistics Department data

ADB, SL to form new CPS

Sri Lanka and the Asian Development Bank (ADB) have agreed on a new Country Partnership Strategy (CPS) for 2012 to 2016 to reduce regional disparities, catalyze private sector participation in development, and remove human resource constraints. The CPS builds on the priorities of government’s Development Policy Framework and ADB’s Strategy 2020, and also refines the focus of the CPS 2009–2011

Turnover hits 22 moths low

Colombo stocks ended in red today with both indices recoding losses. ASI lost 22.46 points (-0.35%) to close at 6,323.59 while sensitive MPI lost 3.44 points (-0.06%) to close at 5,650.91.Daily market turnover hit 22 months low of Rs.533.8mn

Rajaratnam co-conspirator surrenders to FBI

Former Goldman Sachs director, Rajat Gupta, who also was once the global head of elite consultancy McKinsey & Co, will surrender to the FBI to face criminal insider trading-related charges, a person familiar with the investigation said

Deepavali Treat for Jaffna from Hutch

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Bourse ends in red

Colombo bourse returned to the red territory today, after a two day mini rally, with the two indices losing over 75 points each

Positive momentum continues

The bourse continued its momentum from Friday and endured another encouraging day with several rallies witnessing on broad range of counters.  ASI increased by 67.42 points (+1.06%) to end at 6,424.36 while liquid MPI jumped by 58.9 points (+1.03%) to close at 5,733.76. Market turnover stood at Rs.949.4mn

August exports, imports up

Sri Lanka’s exports rose 19.1 percent to US$ 952 million while expenditure on imports increased 66.5 percent to US$ 1, 837 million in the month of August year-on-year, country’s Central Bank said

Avirate

Avirate, a brand which prides itself on being 100% Sri Lankan, expanded its local presence with the opening of its 3rd store at Kandy City Centre on the 15th of October 2011.

2011 live Rugby World Cup updates from Hutch

Hutch has introduced another exciting new Value Added Service (VAS) for their loyal customers, bringing live updates on the Rugby World Cup currently underwayin New Zealand.  Scores and updates can easily be accessed by simply dialling 555 from any Hutch number.

Bourse dips further

Uncertainties in the Colombo stock exchange further dipped the market into the negative territory today where risk appetite was seen at bay during trading.

September tea output down 10.5%

Sri Lanka's tea production fell in September for a sixth straight month due to adverse weather in high growing areas, the island nation's state-run tea board said on Wednesday

Bleak market

Weak sentiments of the Colombo bourse further prevailed today as benchmark ASI further neared its strong support level at 6,250. ASI decreased by 40.8 points (-0.64%) to end at 6,347.72 while liquid MPI dipped by 27.47 points (-0.45%) to settle at 5,704.83. Market turnover was substantially low at Rs.687.1mn, the lowest recorded during the year

Market drifts down further

The Sri Lankan market drifted down further today triggered by high level of selling pressure. Moreover ASI is witnessing a steep fall to its major support level at 6,250 points reflecting a potential bounce back to the positive zone or another steep sell down. Interestingly, all the sectors in the bourse registered losses except for the telecommunication sector

Negative beginning

Market opened for the week on negative note today with both benchmark indices recording substantial losses. ASI lost 92.40 index points (-1.41%) to close at 6,557.51 while more sensitive MPI lost 66.94 index points (-1.14%) to close at 5,811.39. Market turnover was  Rs.978.2mn

Navara Capital gets control of IDL

The controlling stake of the Infrastructure Development Limited PLC (IDL), a company earlier controlled by high net worth investor Nahil Wijesuriya changed hands yesterday as 96 percent or 4.6 million shares traded in a single trade contributing Rs. 128 million to the day's turn over

Shariah-compliant trading platform on CSE

Gaurdian Investment House (GIH) with Capital Trust Securities (Pvt) Ltd. (CTS), has designed a public trading platform that adheres to Shariah values

Rajaratnam to be sentenced today

Sri Lankan born hedge fund tycoon Raj Rajaratnam, convicted in the biggest Wall Street insider-trading case in decades, will hear his punishment in court today with all signs pointing to a lengthy prison term

Another lackluster day at bourse

The Colombo stock market witnessed yet another lackluster day where deep sell downs were shown on a range of stocks. ASI dipped by 64.81 points (-0.97%) to end at 6,604.23 where as liquid MPI dropped by 29.98 points (-0.50%) to settle at 5,905.92. he market turnover was recorded at Rs.1.6bn

CB to maintain policy rates unchanged

Central Bank of Sri Lanka (CB) has decided to maintain interest policy rates at its current levels, banking on an expanding economy, decline in inflation and excess liquidity in money markets, and expected growth in export earnings.

Negative bourse

The market reopened for the week on a negative note with benchmark indices recording losses. ASI closed at 6,669.06, a dip of  29.79  index points (-0.45%) and liquid MPI closed at 5,935.90, a drop of 42.24 points (-0.71%). Daily market turnover stood at Rs.3.2bn

Pessimistic week

The Colombo bourse endured a week with a pessimistic outlook on the onset, continuing the trend entire week excluding Friday. However during the week selected retail counters such as LITE, CFT and ECL etc displayed a speculative run

Write back inflates BLUE profits

Sri Lanka's Blue Diamond Jewellery Worldwide PLC (BLUE) has recorded a net profit of Rs.26 million for 2Q12, largely supported by a 19 million non-cash write back of outstanding payables to Ceylinco Investment Company

Bourse ends in red

Colombo stocks ended in red today with both indices recording losses.  ASI dropped 15.06 points (-0.22%) to close at 6,706.48 while sensitive MPI closed at 5,966.51,  dip of 16.44 points (-0.27%).Market turnover stood at Rs.1.3bn

Prosecutors demand hefty Rajaratnam sentence

US prosecutors said Tuesday that former hedge fund manager Raj Rajaratnam should be given a hefty prison sentence next week, arguing that illegal gains from his insider trading netted about $72 million

Dull Monday

The Colombo market started the week today on a relatively dull fashion with marginal movements in the indices. ASI decreased by 0.16 points (-0.01%) to close at 6,783.39 while sensitive MPI dipped by 13.14 points (-0.22%) to settle at 6,031.97. Market turnover stood at Rs.2.1bn

Firm trading

The market endured a firm trading day today where ASI witnessed a notable jump into positive zone though MPI depicted a marginal dip. ASI gained by 37.24 points (+0.55%) to end at 6,747.91 while sensitive MPI lost marginally by 1.13 points (-0.02%) to settle at 5,998.15. Market turnover recorded at Rs.2.8bn