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In Business
August 22, 2018 7:15 pm gmt |
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1088
Sri Lanka’s Tourism Minister, John Amaratunga on Wednesday said the government hoped to attract at least 3 million tourists in 2019, making Sri Lanka one of the most sought after destinations in the global tourism map. Amaratunga said the government hoped to launch a new country branding for Sr...
In Business
August 22, 2018 3:59 am gmt |
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1061
Sri Lanka has revived the process of privatising the state-run carrier that is saddled with at least $US1 billion of debt, a year after talks with sole bidder TPG Capital collapsed following due diligence of the struggling airline. The island nation’s finance ministry will seek preliminary bids...
In Business
July 20, 2018 5:43 am gmt |
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1090
Continuing its slide for the third session, the rupee on today (Friday) collapsed to a life-time low of 69.12 against the US dollar after the Chinese central bank weakened its daily reference rate for the yuan by the most in two years. The yuan dropped further by 0.28% to 6.7943 per dollar, its lowes...
In Business
June 6, 2018 12:01 pm gmt |
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1175
Sri Lanka has hired Singapore government-owned Surbana Jurong for $990,000 to draw up plans for urban development around a Chinese-funded Special Economic Zone that will straddle the Southern districts of Hambantota and Monaragala. The 12,000 acre Sri Lanka-China Logistics and Industrial Zone which w...
In Business
September 28, 2017 11:20 am gmt |
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Co-operative Wholesale Establishment Chairman T.M.K.B. Tennakoon said that the price of eight types of rice and sprats will reduce from midnight, today. President Maithripala Sirisena yesterday instructed the relevant officials to take immediate measures to reduce the prices of some essential items t...
In Business
September 1, 2017 8:57 am gmt |
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1514
IPhone 8 launch is nearly upon us as Apple has sent out press invites for an event at the new Steve Jobs Theater at its new ‘spaceship’ campus in Cupertino, California on September 12. The company is likely to launch the iPhone 8 on the September 12 event, the tenth anniversary model that...
In Business
August 6, 2017 11:06 am gmt |
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Council revised rates on 19 services on Saturday, including reducing the job work rate in the textiles sector to 5% from 18%, as finance minister Arun Jaitley appealed to businesses to pass on the benefits of the tax reform measure. The reduction in the rate of job work will be applicable across the ...
In Business
August 6, 2017 5:01 am gmt |
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The latest tender called for the redevelopment and upgrading of Bandaranaike International Airport (BIA)’s Aviation Refuelling Terminal and the existing Fuel Hydrant system has been cancelled following a recent decision taken by new Petroleum Resources Development Minister Arjuna Ranatunge. The minis...
In Business
August 5, 2017 9:57 am gmt |
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Apple is planning to release a cellular version of its Apple Watch smartwatch later this year, according to a report on Friday from Bloomberg. That means the Apple Watch would no longer rely solely on the iPhone to download or stream data, and would be able to connect to an LTE network. You may be ab...
In Business
August 3, 2017 9:28 am gmt |
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1324
Apple boss Tim Cook has defended his company’s decision to comply with the Chinese government’s demand it remove VPN software from the App Store. Virtual Private Networks are often used to skirt censorship and surveillance in countries with tight restrictions on internet use. The company has been hea...
In Business
July 21, 2017 12:12 pm gmt |
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1286
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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1368
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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1352
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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1374
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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1424
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...