LSEG Technology, a wholly owned subsidiary of the London Stock Exchange Group (LSEG) today announced new appointments to its Leadership Team. Accordingly, Feroz Cader and Rob Brouwer have been appointed Co-Heads of LSEG Technology in Sri Lanka. Feroz Cader, who also heads Project Delivery and Product Management in addition to his role as Co-Head of…
The International Monetary Fund called on governments worldwide Monday to join forces and roll out aggressive financial supports for the coronavirus-infected global economy, including direct payments to workers and businesses. But while several countries have taken steps to cushion the blow to their economies and boost confidence, including the United States, there has been little…
The ongoing novel coronavirus (COVID-19) outbreak will have a significant impact on developing Asian economies through numerous channels, including sharp declines in domestic demand, lower tourism and business travel, trade and production linkages, supply disruptions, and health effects, according to a new analysis by the Asian Development Bank (ADB). The magnitude of the economic losses…
As oil prices collapsed alongside global stocks amid mounting coronavirus fears, billions of dollars were erased from Ambani’s net worth While the outbreak has curtailed some of Alibaba’s businesses, demand for its cloud computing services and mobile apps has increased Indian energy tycoon Mukesh Ambani is no longer Asia’s richest man, relinquishing the title to…
The Lankan Angel Network (LAN) has launched Sri Lanka’s first Angel Fund, established with the support of ecosystem development partner Ford Foundation, to catalyze the growth of Sri Lanka’s startup ecosystem. A first of its kind in Sri Lanka, this Fund will be LAN’s flagship initiative moving forward, and is based on Rs. 100 million…
London (CNN Business) Oil prices have suffered their biggest fall since the day in 1991 when American forces launched air strikes on Iraqi troops following their invasion of Kuwait. Monday’s crash spooked markets that were already freaking out about the impact of the coronavirus pandemic on the global economy and demand for oil. Brent crude futures, the global oil benchmark, were…
Regular trading at the Colombo Stock Exchange (CSE) was temporarily halted for 30 minutes from 9.42 am to 10.12 am this morning (10) as S&P SL20 index dropped by 5% during the trading session. However, when regular trading at the CSE recommenced at 10.12 am, All Share Price Index was down by 188.34 points while…
Hong Kong/New York/London (CNN Business) Global markets are plunging after the implosion of an alliance between OPEC and Russia caused the worst one-day crash in crude prices in nearly 30 years, fueling panic triggered by the escalation of the coronavirus epidemic. The S&P 500 (SPX) fell about 6%. The Dow (INDU) fell as many as 2,046 points. The Nasdaq Composite (COMP) was down 5.4%. The New…
The achievements of 16 women and men who have championed gender equality in their workplaces were celebrated as part of the launch of a new campaign “Together We Can”, supported by the Women in Work partnership between IFC, a member of the World Bank Group, and the Australian Government. The “Together We Can” campaign amplifies…
Oil prices plunged 30% in early trading after OPEC’s failure to strike a deal with its allies regarding production cuts caused Saudi Arabia to slash its prices as it reportedly gets set to ramp up production, leading to fears of an all-out price war. International benchmark Brent crude futures plummeted 30% to $31.02 per barrel, its lowest level…
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