The New Industrial revolution Big Data and the Internet of Things (IoT) is revolutionizing the world around us – from the medical care we receive to the way retailers market to us – but how is the manufacturing industry benefitting from it? Large manufacturers have been analyzing data to optimize production and processes for many…
Sri Lanka’s bank interest rates have seen a historic low now. Some banks have already lowered their housing loan interest rates to 10.5 per cent. Overall, the current interest rate on housing loans remains at a 12 per cent level. Hence, the banks should reduce the interest rates of those who had obtained housing loans…
Hinduja group flagship company Ashok Leyland has received an order worth $17 million (around Rs. 104 crore) to supply 630 buses to Sri Lankan operators. The company, through its joint venture in Sri Lanka, has received an order for 630 buses worth $17 million from private bus operators, Ashok Leyland said in a filing to…
Parkson Retail Asia Limited of Malaysia, the major stakeholder in Sri Lanka’s leading fashion apparels retail chain ODEL has agreed to sell all its shares to Softlogic Group for nearly Rs. 2.8 billion. While informing this decision to the Malaysian Stock Exchange, Parkson Retail Asia which already owns the major 47.46 percent shares in ODEL…
Though it is widely reported that the budget for 2015 to be presented to Parliament by President Mahinda Rajapaksa on 24 October would include a lot of concessions to the people with an eye on upcoming elections, Finance Ministry Secretary Dr. P.B. Jayasundere gave an assurance that it would not be such a budget….
China has toppled America to become the biggest economy in the world, according to figures from the International Monetary Fund. The US has been the global leader since it overtook Britain in 1872, but has now lost its status as top dog. The latest IMF figures show the Chinese economy is worth £11trillion compared with…
The Colombo Stock Exchange (CSE) has approved in principle the application for listing the debt securities of Pan Asia Banking Corporation PLC. Pan Asia Banking Corporation is to offer 20 million unsecured subordinated redeemable debentures at an issue price of Rs. 100 each with an option to issue up to a further 10 million debentures…
Fitch Ratings has downgraded Softlogic Holdings Plc’s (SHL) National Long-Term Rating to ‘BBB-(lka)’ from ‘BBB+(lka)’. Fitch has also downgraded the National Long-Term Rating on SHL’s senior unsecured redeemable debentures to ‘BBB-(lka)’ from ‘BBB+(lka)’. The ratings have been placed on Rating Watch Negative (RWN). The two-notch downgrade reflects the aggressive investments and capital structure and the…
(Siddharth Varadarajan is a Senior Fellow at the Centre for Public Affairs and Critical Theory, Shiv Nadar University) ‘The king rules the world and justice rules the king’ – Tirukkural By finding Tamil Nadu Chief Minister J. Jayalalithaa guilty of corruption and sending her to prison for four years, a special court in Bangalore has…
The Appropriation Bill with the estimated revenue and expenditure of the government for 2015 was presented to Parliament today (26 September) by Prime Minister D.M. Jayaratne. According to the Bill the funds for government expenditure for next year has been increased by 17 percent compared to 2014. While expressing his views, Deputy Secretary of the…
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