S.Lankan shares up 1.4 pct as Dubai deal stars

Newswire

By Shihar Aneez COLOMBO, July 28 (Reuters) - Sri Lankan shares rose 1.41 percent on Monday to their highest close in more than a week, pushed up by the foreign buying of a majority stake in Associated Motorways , which boosted investor confidence. Dubai-based engineering firm Al-Futtaim bought 71 percent of the Sri Lankan motor vehicle company, 20 percent previously held by John Keells Holdings and 51 percent by Associated Electrical Corporation , analysts said. Associated Motorways is ...

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