Connect with us

Business

CSE continues in negative mode; indices down

Published

on

By Hiran H.Senewiratne 

CSE activities were negative from last morning onwards  but they did not recover even during  the latter part of the day. However, Sri Lanka’s  2020 GDP growth was a little better than expected. This had a slightly positive effect on stocks, market analysts said. 

Amid those developments, both indices moved downwards. All Share Price Index went down by 75.14 points and S and P SL20 declined by 30.64 points. The turnover stood at Rs. 853 million with a single crossing. The crossing was reported in JKH, which crossed 136,000 shares to the tune of Rs. 20.4 million.

In the retail market, five companies that mainly contributed to the turnover were;  Expolanka Rs. 152.6 million (3.4 million shares  traded), Sampath Bank Rs. 91 million (590,000 shares were traded), JKH Rs. 76.3 million (510,000 shares  traded), Hayleys Rs. 61.6 million (1.1 million shares traded) and Browns Investments Rs. 48.3 million (9.5 million shares traded). During the day 28.9 million share volumes changed hands in 10198 transactions.    

 RIL Property Plc’s fully owned subsidiary Food Buzz Ltd.,  which runs Singapore based franchise entity  “Bread Talk”  outlets, closed down the latter from March 20  due to adverse market conditions resulting from the Easter Sunday attacks as well as the ongoing pandemic. Thus, Food Buzz Board of Directors had decided to temporarily suspend their business operations until a decision is taken going forward.  At present there are 10 Bread Talk outlets in the country.

Last year, Food Buzz reported a loss of Rs. 59 million with a revenue of Rs. 413 million.  

Sri Lanka’s rupee quoted at 199.50/201.50 levels to the US dollar in the one week forwards market while the bond yields remained unchanged, dealers said.

The rupee last closed in the one- week forward market at 199/201 to the US dollar on Tuesday and the spot was quoted at 200.75 levels. Rupee last hit close to 200 to the dollar in March 2020.

 

 



Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Business

INSEE Ecocycle to provide waste management solutions for Galle Analytical Lab

Published

on

Signatories to the agreement were Mrs. Dharshani Lahandapura, Chairperson and Dr. P.B. Terney Pradeep Kumara, General Manager, MEPA and Sanjeewa Chulakumara, Director of INSEE Ecocycle Lanka (Private) Limited together with senior officials from both organisations

INSEE Ecocycle, the nation’s pioneer in sustainable waste management has joined hands with the Marine Environment Protection Authority (MEPA), the apex body established to prevent, control and manage pollution in Sri Lanka’s marine environment, to provide Sustainable Integrated Waste Management Solution for the MEPA’s Galle analytical laboratory recently.

Prior to the agreement, no sustainable solution for analytical laboratory waste and chemical waste existed in the country. This hazardous waste was accumulated at laboratory premises or due to misconduct, was discharged into the open environment such as drains, soil or natural water streams etc. As a result, possible environmental impacts such as soil acidification or soil alkalization, eradication of aquatic plants and animals, possible ground water contamination, acid rains and ozone depletion could have taken place.

Similarly devastating human health impact such as skin cancers, liver damage, blindness, neurological disorders, adverse pregnancy outcomes and bioaccumulation were also a possibility.

Commenting on the agreement Sanjeewa Chulakumara noted, “INSEE Ecocycle is proud to partner with MEPA for analytical laboratory waste management and we highly appreciate the commitment and the passion of the senior management of MEPA for this collaborative sustainable initiative, which is a great example to other government institutions in the country as well.”

Continue Reading

Business

94% of consumers in APAC considering the use of emerging payment methods: study

Published

on

As a result of the pandemic, enthusiasm for a broader range of payment technologies has accelerated in the Asia Pacific region as 94% of people say they will consider using at least one emerging payment method, such as QR codes, digital or mobile wallets, installment plans, cryptocurrencies, biometrics and others, in the coming year. This is according to the Mastercard New Payments Index conducted across 18 markets globally, including India, Australia and Thailand, which reveals that 84% of consumers in APAC already have access to more ways to pay compared to one year ago. Of note for entrepreneurs, 74% of respondents said that they would shop at small businesses with greater frequency if they offered additional payment options.

“Mastercard’s study finds that people in the Asia Pacific region haven’t just adopted new payment technologies—they’ve made deliberate shifts based partly on necessity, but also on considerations around personal safety, security and convenience, at a time when these concerns were paramount,” said Sandeep Malhotra, Executive Vice President, Products & Innovation, Asia Pacific, Mastercard. “Consumers in Asia Pacific have already gained recognition globally for their openness to new technologies and innovation, and these findings confirm that this trend is only set to continue as more digital payment options rapidly become mainstream in this part of the world.”

About Mastercard (NYSE: MA), www.mastercard.comMastercard is a global technology company in the payments industry. Our mission is to connect and power an inclusive, digital economy that benefits everyone, everywhere by making transactions safe, simple, smart and accessible. Using secure data and networks, partnerships and passion, our innovations and solutions help individuals, financial institutions, governments and businesses realize their greatest potential. Our decency quotient, or DQ, drives our culture and everything we do inside and outside of our company. With connections across more than 210 countries and territories, we are building a sustainable world that unlocks priceless possibilities for all.

 

 

Continue Reading

Business

ASPI skyrockets to reach 3 ½ weeks high

Published

on

Turnover recorded at a healthy level at Rs. 2.7bn

Bourse premiered the week shooting the index remarkably high to reach a 3 ½ weeks top. ASPI displayed a stepped upward trend and surged in the first hour of trading followed by a sideways movement during mid-day and ended with a gradual uptrend to close at 7,350 gaining 122 points.

Turnover was recorded at a healthy level at LKR 2.7Bn powered by the active retail participation. Food, Beverage & Tobacco sector dominated the turnover closely followed by the Capital Goods sector to generate a joint contribution of 50%. Foreign investors remained net sellers while recording low participation.

-First Capital Research

 

 

Continue Reading

Trending