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In Business
July 21, 2017 12:12 pm gmt |
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A “significant” Brexit transitional period needs to be agreed as soon as possible, to stop jobs being moved from the UK to Europe, according to the boss of Goldman Sachs International. Chief executive Richard Gnodde told the BBC he was spending money “every single day” on cont...
In Business
May 27, 2017 7:45 am gmt |
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Previously known as the biggest shellfish port in Europe, the port of Fraserburgh in north-east Scotland now has another claim to fame. Over the last decade, house prices here have risen faster than any other seaside town in Britain. According to the Halifax, prices have nearly doubled, from an avera...
In Business
May 16, 2017 12:23 pm gmt |
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South Asia could grab a bigger share of international trade, but inefficiencies in its ports threaten to hinder progress and stop it from matching other regions like East Asia, a new World Bank report shows. The report recommended South Asian countries, Bangladesh, India, Maldives, Pakistan, and Sri ...
In Business
May 12, 2017 10:26 am gmt |
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A London-based virtual reality firm has raised $500m (£388m) in one of the biggest investments in an early stage European technology business. Japan’s Softbank is backing Improbable in a funding round that values the business at more than $1bn. The deal is further evidence that the UK’s t...
In Business
May 5, 2017 10:19 am gmt |
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Ride-sharing firm Uber is facing a criminal investigation by the US government. The scrutiny has started because the firm is accused of using “secret” software that let it operate in regions where it was banned or restricted. The software, called “greyball”, helped it identify...
In Business
May 4, 2017 8:50 am gmt |
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HSBC said on Thursday that pre-tax profit fell 19 percent to US$4.96 billion in the first three months of the year. The bank said the drop in reported profit was down to a change in the accounting of the fair value of its debt, while the results from a year ago included proceeds from its […]...
In Business
April 21, 2017 10:35 am gmt |
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Donald Trump has launched an investigation into countries that export steel to the US, raising the prospect of new tariffs on imports. It is designed to stop countries from flooding the US with artificially cheap steel and undercutting local suppliers. China is most often associated with the practice...
In Business
April 20, 2017 12:13 pm gmt |
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Union Bank further increased its position in the rankings of the 100 Leading Brands in Sri Lanka in 2017 compiled by Brand Finance, having being ranked 6 notches above its position of the previous year with a A- brand rating. The corresponding brand value of the Bank grew by a noteworthy 18.5% to Rs....
In Business
April 17, 2017 11:51 am gmt |
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PricewaterhouseCoopers, one of the world’s largest professional-services firms, just released its predictions for the most powerful economies in the world by 2030. The report, titled “The long view: how will the global economic order change by 2050?” ranked 32 countries by their pro...
In Business
April 15, 2017 11:45 am gmt |
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Apple starts the long move into Apple Park, its new, ring-shaped headquarters designed by Foster + Partners. Popularly known as the Spaceship, the building has ambitions to match. With 2.8 million square feet of office space, Apple Park has more interior space than the Empire State Building. It will ...
In Business
April 7, 2017 11:38 am gmt |
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Lotte Group Chairman Shin Dong-bin arrived at Seoul Central District Prosecutors’ Office for questioning as a witness on Friday (April 7) in an investigation of an influence-peddling scandal that led to the dismissal and arrest of former president Park Geun-hye. The prosecutor’s office sa...
In Business
March 18, 2017 7:38 am gmt |
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LOLC Group has acquired 48 percent stake in a micro finance company in Cambodia for 186 million US dollars through LOLC International Private Limited, a fully owned subsidiary of the LOLC Group based in Singapore. Before this acquisition, the LOLC Group had 22 percent stake in this microfinance insti...
In Business
March 14, 2017 12:12 pm gmt |
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Germany’s TUI Group, a leading tour operator, said it would be expanding operations in Sri Lanka to assist in developing hospitality training facilities. TUI revealed these plans during a discussion between Minister of Tourism Development, Lands and Christian Religious Affairs John Amaratunga and top...
In Business
March 8, 2017 9:03 am gmt |
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World’s fastest car is being constructed in the island said Science, Technology and research minister Susil Premajayantha. Technology should be used to the maximum in order to develop the country he said in Galagedara area....
In Business
February 23, 2017 10:26 am gmt |
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Barclays has reported a jump in annual profits after making “strong progress” in restructuring. The bank reported a profit before tax of £3.2bn for 2016, up from £1.1bn the year before. Its reorganization has included the sale of its Africa business. Barclays has also been selling off oth...
In Business
February 22, 2017 9:53 am gmt |
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Aircraft manufacturer Airbus reported a drop in 2016 profits, mainly because of a charge on the A400M military plane. Its net income fell by 63% to 995m euros (£838m), although revenue went up 3% to 66.5bn euros (£56bn). The results are the first since Airbus started simplifying the company by mixing...
In Business
February 13, 2017 12:45 pm gmt |
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The Sri Lankan government is inviting expressions of interest for partners to undertake the appraisal and development of gas discoveries and prospects in a 2,900-sq km offshore block in the Mannar Basin, a statement said. The block (M2) will be offered for licensing this year, including the Barracuda...
In Business
February 3, 2017 10:56 am gmt |
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The Economic research Department of Central Bank states that Sri Lanka’s external sector has recorded a modest performance in October 2016 with a deterioration in the trade deficit amidst continued growth in tourist earnings. The trade deficit has widened in October as a result of higher import expen...
In Business
January 21, 2017 12:02 pm gmt |
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The Sri Lankan government said it had identified a Unites States-based company to share in the SriLankan airlines equity under the proposed Private Public Partnership (PPP) model, Public Enterprise Development Deputy Minister Eran Wickramaratne said that the government had short-listed three prospect...