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In Business
November 28, 2016 9:42 am gmt |
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The Sri Lankan government has signed a loan agreement with the Asian Development Bank (ADB) to obtain a loan of US $ 250 million from the Ordinary Capital Resources Fund of ADB to implement the Capital Market Development Programme (CMDP) in Sri Lanka. The main objective of the CMDP is to ensure that ...
In Business
November 25, 2016 6:33 am gmt |
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Theresa May’s attempt to reform corporate pay and governance faces more challenges from business leaders. A report by the Big Innovation Centre rejects holding annual binding votes on pay and the publishing of pay ratios between chief executives and workers. The two ideas were among the prime m...
In Business
November 23, 2016 7:51 am gmt |
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Lufthansa has cancelled almost 900 flights after it lost an eleventh-hour legal bid to halt a pilots strike.The two-day strike over pay began at midnight local time, with Lufthansa saying about 100,000 passengers will be affected. Flights by Lufthansa’s other airlines including Eurowings, Swiss...
In Business
November 22, 2016 12:02 pm gmt |
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Sri Lanka’s Condominium Developers Association which represents the condominium developers in the country has hailed the budget 2017 presented by the Finance Minister. The association which is an affiliated trade body of the Ceylon Chamber of Commerce said in a statement that the budget contained a n...
In Business
November 21, 2016 9:45 am gmt |
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The Asian Development Bank (ADB) has released an independent evaluation report that assesses its $5.5 billion program for Sri Lanka in the 10 years to the end of 2015. The program made a substantial contribution to expanding infrastructure services in the country especially in lagging regions and for...
In Business
November 19, 2016 12:08 pm gmt |
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Sri Lanka expects to finalize the deal with regard to the loss-making Hambantota port within three weeks, Ports Minister said. Minister Arjuna Ranatunga told Parliament on Friday (Nov 18) that under the new arrangement, the port will be operated as a PPP venture project between Sri Lanka and Chinese ...
In Business
November 18, 2016 11:33 am gmt |
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Car manufacturer Volkswagen (VW) has announced it will cut 30,000 jobs over the next five years to make savings after the diesel emissions scandal. The car manufacturer will cut 23,000 from its workforce at the biggest VW unit in Germany with the remaining job cuts being mostly made in North and Sout...
In Business
November 16, 2016 11:45 am gmt |
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Snap, the parent company of messaging app Snapchat, has filed to list on the US stock market, according to several reports. Based on investments so far, the California-based firm would be worth between $20bn and $25bn (£16bn-£20bn). That would make it the largest US flotation since Chinese e-commerce...
In Business
November 15, 2016 12:55 pm gmt |
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Samsung Electronics said it had agreed to buy Harman International Industries in an $8 billion deal, marking a major push into the auto electronics market and the biggest overseas acquisition ever by a South Korean company. The transaction highlights Samsung’s efforts to break into the high-bar...
In Business
November 9, 2016 7:21 am gmt |
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Markets around the world have been plunged into turmoil on the news that Donald Trump is on course to win the US presidential race. The US dollar sank and stocks plummeted on Wednesday as investors faced the prospect of a shock win by the Republican candidate, which is expected to have many political...
In Business
October 27, 2016 12:23 pm gmt |
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Capitol Development Limited, a unit of Sri Lanka’s Sanken construction group, said it had completed the purchase of land in Sri Lanka’s capital Colombo to build an apartment complex that will house 500 units in two towers. The ‘Capitol Twin Peaks’ branded project will be ready...
In Business
October 11, 2016 12:16 pm gmt |
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SriLankan Airlines, the National Carrier, announced that it had launched full-fledged Sinhala and Tamil language options on its website www.srilankan.com to better facilitate the air travel of people throughout Sri Lanka,as part of a new marketing campaign on the theme of ‘Be Sri Lankan, Fly SriLanka...
In Business
October 3, 2016 12:46 pm gmt |
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Himalaya Airlines, a Nepal-China Joint Venture Airline, has conducted its maiden commercial flight from Kathmandu to Colombo on 1st October 2016. With two flights a week, operating as H9 673, Himalaya will fly every Tuesday and Saturday departing from Tribhuvan International Airport, Kathmandu at 113...
In Business
September 17, 2016 12:20 pm gmt |
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Sri Lanka is once again promoting passenger transport in canals across Colombo city. The government will soon call for international tenders to find a partner to run this service initially from Battaramulla to Wellawatte. Megalopolis Project Investment Head Nayana Mawilmada speaking at a discussion o...
In Business
September 13, 2016 11:44 am gmt |
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Over 2,500 companies from 29 countries, including the 10 Asean members and India, Pakistan and Sri Lanka, are participating in the 13th China-Asean Expo, which opened at China’s Nanning city on Sunday, media reported. The four-day Expo, being held in the capital of China’s Guangxi Zhuang region, has ...
In Business
September 10, 2016 12:36 pm gmt |
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SriLankan Airlines said flights could get disrupted following a ‘work-to-rule’ campaign by its pilots union, protesting against the suspension of a pilot who refused a breathalyzer test. “There is a likelihood that flights will be disrupted, as we are currently calling pilots on their off days legall...
In Business
September 8, 2016 11:59 am gmt |
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SriLankan Airlines said it has launched a 24-hour Global Contact Centre which will further enhance levels of service for all its worldwide customers and members of its frequent flyer programme. Ajith Dias, Chairman of SriLankan Airlines, said: “We have sharply enhanced our focus on the needs of our c...
In Business
September 7, 2016 11:39 am gmt |
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Dealers have said the Srilankan rupee edged up yesterday (06th Sep). Dollar sales by exporters and banks on behalf of foreign investors to buy Government securities have also helped the currency amid a lack of demand from Importers for the greenback. According to the currency dealer, there is also so...
In Business
September 5, 2016 11:10 am gmt |
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HSBC will now allow customers to verify their identities when opening an account by taking a selfie, reports Business Insider. Much like apartment-sharing app Airbnb, the bank will give customers the option of taking a headshot on their phone to complete an ID security check as part of the company...