Yahoo may rethink use of cash from Alibaba deal
SAN FRANCISCO, Aug 9 Yahoo Inc may re-evaluate plans for the cash it gets from a multibillion-dollar sale of half of its 40 percent stake in Chinese Internet company Alibaba Group.
COLOMBO Oct 14 Sri Lankan shares closed lower for a fifth straight session on Friday, led by conglomerate John Keells Holdings, as investors stayed on the sidelines ahead of corporate results and seeking cues on the economy from the federal budget next month.
The benchmark index of the Colombo Stock Exchange ended 0.07 percent weaker at 6,482.54, its lowest close since Sept. 26. It shed 1.5 percent on the week.
"We believe the index will fall further before the budget. Still, there is uncertainty about taxes (in the budget)," a stockbroker said asking not to be named.
Turnover stood at 568.6 million rupees ($3.88 million), less than this year's daily average of around 747 million rupees.
Foreign investors, who have net sold 2.34 billion rupees worth of shares so far this year, bought a net 25.8 million rupees worth equities on Friday.
Chevron Lubricants Lanka Plc, which posted a 20 percent rise in September-quarter, rose 1.3 percent.
John Keells Holdings fell 0.46 percent, while Lion Brewery lost 3.31 percent.
($1 = 146.3700 Sri Lankan rupees) (Reporting by Shihar Aneez; Editing by Biju Dwarakanath)
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