The Colombo Stock Exchange (CSE) has performed better during the post war period in the All Share Price Index (ASPI) having recorded 93 percent this year compared to a 41 percent decrease last year. Hence, at present, the Sri Lankan Stock Exchange has reached the state of the best performing stock exchange in the world, said Colombo Stock Exchange, Manager, Business Development, Tushara Jayaratne to the Daily News Business.

He said that the Milanka Price Index for 25 selected companies has increased by 100 percent whereas the daily turnover increased from Rs. 484 million and the number of transactions has seen an increase of 5,000 per day.

The total market capitalization has also increased to Rs. 930 billion and the market capitalization on September 17 was Rs. 942.6 billion, the highest recorded at the CSE, he said.

Despite the backdrop of low business confidence and adverse economic factors such as inflation and volatile interest rates, the company’s pre-tax profits dropped by 22 percent while post-tax profits declined by 19 percent.

The Ministry  of  Ports and  Aviation announced yesterday that  one of the its business  undertakings, Mihin Lanka Airlines has achieved break-even point.

The Aviation Ministry in a statement issued  to media said that the booking rate for the Airline had increased significantly in August and is expected to rise further in  the next three months.

Sri Lanka MillenniumIT bought by London Stock Exchange

The London Stock Exchange (LSE) said it will acquire Sri Lanka's MillenniumIT for 30 million US dollars (sterling 18 million), with the deal to be completed by mid-October.

MillenniumIT, a technology firm which develops securities trading software will replace LSE's existing trading platform and continue to service its exiting clients.
MilleniumIT first automated Sri Lanka's Colombo Stock Exchange and its trading software is in use in several countries.

LSE said MillenniumIT would replace its existing system making transactions faster and bringing cost savings.