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24 June, 2011 12:43 PM Source: Financial Times - Sri Lanka

Market uproar as state owned insurance giant buys 13% stake in Rs. 900 million loss saddled Blue Diamonds Jewellery exposing the buyer to allegation of being gullible victim of pump and dump scenario

Is Sri Lanka Insurance Corporation (SLIC) betting on fake diamonds was the immediate poser from some market analysts to the news of state owned giant investing in a 13% stake in loss making and not so fundamentally sound Blue Diamond Jewellery Worldwide Ltd. More...

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