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Increase in business tourist arrivals in Sri Lanka

With the development of the tourism industry in Sri Lanka the number of business travelers too has reportedly seen marked increase. Accordingly, the number of business tourists in 2013 has increased by 4.8 percent to 94,320. However, in 2009 only 38,473 business travelers had arrived in Sri Lanka. The number of tourists to Sri Lanka…

(0)Comments | April 15, 2014 5:27 am

Rise in Sri Lanka’s unemployment

Sri Lanka’s unemployment rate has shown an increase last year. While the unemployment rate had been 4.0 percent in 2012 it has increased to 4.4 percent in 2013. According to the Central Bank of Sri Lanka the cause for this increase has been the entry of a large number of new employment seekers into job…

(0)Comments | April 13, 2014 4:30 am

Maruti to recall 1,03,311 units of Ertiga, Swift, DZire

India’s largest car maker Maruti Suzuki on Friday said it will recall over one lakh units of its popular models — Ertiga, Swift and DZire – to replace faulty fuel filler neck. The recall, one of the biggest by the company, will impact 42,481 units of DZire, 47,237 units of Swift and 13,593 units of Ertiga manufactured…

(0)Comments | April 12, 2014 1:54 am

Stock Market Review

Colombo bourse concluded the weekly operations in a positive note as both indices closed higher. Benchmark All share price index gained 17.29 (+0.28%) points to close at 6,092.34 and 20-script S&P SL index marginally gained 1.92 (+0.06%) points to close at 3,346.92.  Price progression in Sri Lanka Telecom (closed at LKR 48.00, +3.5%), Lanka IOC…

(0)Comments | April 11, 2014 12:40 pm

Bairaha to set up new Rs.1.65 billion animal feed factory

Bairaha Farrns Plc. has decided to collaborate in a new project to set up a large scale, state of the art commercial animal feed manufacturing factory together with raw materials procurement and modern post-harvest storage facilities. The joint-venture known as Fortune Agro Industries (Pvt) Ltd is promoted by another poultry producer namely Farms Pride (Pvt)…

(0)Comments | April 11, 2014 12:31 pm

Cargo Boat ‘unloads’ Colombo 2 property

Cargo Boat Development Company PLC sold its share of the property at No. 29, Braybrook Street, Colombo 2 to Renuka Land (Pvt) Ltd. for a sum of Rs. 107,200,000 on 10 April 2014.

(0)Comments | April 11, 2014 10:52 am

EPF stake in Central Finance reach 10%

Investment in Central Finance Company PLC by the Employees’ Provident Fund (EPF) has reached 10 percent of the issued share capital of the company.

(0)Comments | April 11, 2014 10:37 am

Samsung Galaxy S5 goes on sale worldwide

The latest version of Samsung’s flagship Galaxy smartphone series went on sale worldwide Friday, days after the electronics giant announced it was facing a second consecutive quarter of profit decline. The Galaxy S5 has a lot riding on it to steer the South Korean firm’s profit-making machine back on track as growth in smartphone sales…

(0)Comments | April 11, 2014 8:44 am

Mangala Yapa bids adieu to Colombo Dockyard

Managing Director and Chief Executive Officer of Colombo Dockyard Ltd. Mangala Prema Banda Yapa has retired from his post. Onomichi Dockyard Co. Ltd of Japan which is the major shareholders of Colombo Dockyard Ltd. has appointed Ranil Wijegunawardene as the Managing Director and Chief Executive Officer.

(0)Comments | April 11, 2014 5:46 am

BlackBerry Ltd CEO John Chen clarifies handset comments, no plan to abandon business ‘any time soon’

NEW YORK — BlackBerry Ltd would consider exiting its handset business if it remains unprofitable, its chief executive officer said on Wednesday, as the technology company looks to expand its corporate reach with investments, acquisitions and partnerships. “If I cannot make money on handsets, I will not be in the handset business,” John Chen said…

(0)Comments | April 10, 2014 7:57 pm

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