Colombo moves out from the worst

Colombo has been able to move out from the list of ’worst livable cities’, the bi-annual ranking by the Economist Intelligence Unit of the Economist magazine showed

Market turnover tops Rs.8bn

The market ended encouragingly positive today while displaying notable level of turnover. Furthermore during the day several rallies were depicted on counters such as Colonial Motors PLC (up Rs.64.40), Acme Printing & Packaging Plc (up Rs.4.00)

ERI awaiting SEC's response

Environmental Resources Investment PLC’s (ERI) Executive Director Kosala Heengama yesterday confirmed to Mirror Business that the company and its directors have received a communication from the Securities and Exchange Commission (SEC) with regard to a fine imposed on a disclosure related offence

Stocks end higher

Colombo stocks ended in a green zone today as both benchmark indices recorded gains. ASI gained 41.94 index points (0.61%) to close at 6,879.29 while liquid MPI closed at 6,233.82, up 10.88 index points (0.17%)

Inflation eases in August

Sri Lanka’s inflation eased to 7 percent in August compared with the 7.5 percent recorded during the month of July of the previous year, Census and Statistics Department said

TRAILBLAZING ECO TEAM MARKS ITS 11TH YEAR OF ADVENTURE TOURISM IN SRI LANKA

Stock Market Update... 29th August 2011

The All Share Price Index dipped 15.6 points to close at 6,837.4 (-0.2%), whilst the more liquid  Milanka Price Index gained marginally to close at 6,222.9 (0.0%).

SL June trade deficit US $850mn

Sri Lanka’s exports during the month of June rose 32 percent to US $.620 million while the expenditure on imports also increased 50 percent to US $1.6 billion, resulting in a trade deficit of US $850 million over the same period of the previous year

Bourse tastes HVA Foods

The Colombo bourse ended indecisively today where benchmark indices closed in alternate directions

Fitch Affirms HSBC Sri Lanka at AAA

Fitch Ratings Lanka has affirmed HSBC Sri Lanka's (HSBCSL) National Long-Term rating at 'AAA(lka)'. The Outlook is Stable

Sri Lanka to seek more Korean investments

Sri Lanka is to seek more investments and grants for development projects from South Korea, said the External Affairs Ministry yesterday

Bourse ends positive

Colombo Stocks closed on a positive note today as both benchmark indices snapped losses. ASI gained 26.49 points (+0.39%) to close at 6,839.20 and liquid MPI gained 31.72 points (+0.51%) to close at 6,225.03

Softlogic records Rs.275mn net profit

The newly listed Softlogic Holdings PLC has recorded a net profit of Rs.275 million for the quarter ended June 30, 2011. This shows a169 percent increase in profits compared with the corresponding quarter of the previous year

Legendary Apple CEO steps down

Apple's legendary co-founder and top ideas man Steve Jobs resigned as chief executive the company said, in a long expected move after he began a dramatic fight with cancer

Market down 0.7 percent

Colombo bourse ended in a negative sentiment as benchmark indices slipped into red zone. ASI dropped 49.02 points (-0.72%) to close at 6,812.71 while more sensitive MPI closed at 6,193.31, a dip of 25.72 points (-0.41%)

People’s Bank posts Rs.4.1bn post tax profit

 Sri Lanka’s state owned People’s Bank has increased its post tax profit by 53.5 percent to Rs.4.1 billion for the half year ended June 30, 2011, compared with the corresponding period of the previous year

Moody's cuts Japan's sovereign rating

TOKYO: Ratings agency Moody's downgraded Japan's sovereign rating by one notch on Wednesday, heaping more pressure on the country's political leaders to address the industrialised world's largest debt

Another day in red

Colombo bourse ended in a negative sentiment as benchmark indices slipped into red zone. ASI dropped 66.30 points (-0.97%) to close at 6,861.73 while sensitive MPI closed at 6,219.03, a dip of 73.32 points (-1.17%)

Barack Obama talks to Buffett & Mulally on economy

Massachusetts: US President Barack Obama on Monday reached out to respected business figures Warren Buffett and Ford chief Alan Mulally as he frames a major new plan on jobs and the deficit

Toyota, Ford to collaborate on hybrid trucks

Toyota Motor Corp and Ford Motor Coompany will work together to develop hybrid trucks and SUVs that will be ready for market by the end of the decade, the two companies

Weak sentiments drag market down

The market sentiments were weak today in line with the overall global uncertainties. Besides, on certain counters such as PC House Plc, Multi Finance Plc notable levels of profit realizing were depicted

New Rs.74mn IT body to deliver govt. services

The Cabinet of Ministers has authorized supplementary funding amounting to approximately Rs 74 million (Seventy Four), to enable a subsidiary owned by ICTA to maintain and operate the Lanka Government Network (LGN), beyond August 2011

Stock Market Update... 19th August 2011

The All Share Price Index dipped 79.2 points to close at 6,951.6 (-1.1%), whilst the more liquid  Milanka Price Index also dipped 75.7 to close at 6,334.4 (-1.2%).

New directors

Hemaka Amarasuriya , Chairman Singer, Dinesh Weerakkody, MD Cornucopia Lanka Ltd, Kumar Jayasuriya Chairman Finlay and Para Chandaria have been appointed to the Boards of Lanka Aluminum Industries PLC and ACME Printing and Packaging PLC

HP plans PC exit, Autonomy buy

Hewlett-Packard said on Thursday it is considering a sale or spinoff of its personal computer unit, will halt production of its webOS devices such as the TouchPad, and agreed to buy British software firm Autonomy Corp for $10.2 billion

Stock Market Update... 18th August 2011

The All Share Price Index gained 16.7 points to close at 7,030.9 (+0.2%), whilst the more liquid  Milanka Price Index dipped 26.8 points to close at 6,410.1 (-0.4%).

Bourse ends indecisive

Colombo Stock exchange ended indecisively today where benchmark indices closed in alternate directions. In addition during the day several rallies were depicted on stocks such as Colombo Land & Development Plc, Citrus Leisure Plc and HVA Foods Plc of which HVA foods Plc demonstrated the heaviest gain. The counter closed at Rs.33.60, up Rs.15.00 (+80.6%)

Fitch Affirms John Keells at 'AAA(lka)'

Fitch Ratings has affirmed Sri Lanka's John Keells Holdings PLC's (JKH) National Long-Term rating at 'AAA(lka)'. The Outlook is Stable

CB further relaxes exchange regulations

With a view to facilitating the foreign exchange transactions of the growing economy of Sri Lanka, a few new policy measures have been introduced by the Central Bank to relax the foreign exchange regulations further, a statement by the Central Bank said

Market ends in red after a bull run

The key benchmark indices opened in green today following the favorable news received from the regulators regarding the credit issue. However during the mid-day trading the market lost the steam of its bull run and wiped out its early gains to end negative