Cites FCC’s arbitrary findings and failure to offer due process protections Huawei today (on 5th December 2019), mounted a legal challenge to the Federal Communications Commission (FCC), seeking the court to overturn an unlawful order passed by the FCC on Nov. 22. The order bans carriers in rural America from tapping the Universal Service Fund…
According to the latest data released by the Sri Lanka Tourism Development Authority (SLTDA) the tourism arrivals in November 2019 have increased to 176,587 from 118,743 in October 2019, recording the highest number of tourist arrivals, since the Easter bombings in April. But in comparison to November last year, there was a decline of 09.5%…
(Reuters) – Sri Lankan shares dipped on Wednesday, weighed down by consumer staple companies and as foreign selling dented sentiment, while the rupee ended stronger. ** The Sri Lankan rupee rose 0.22% to 181.10/35 per dollar, compared to Tuesday’s close of 181.50/65, Refinitiv data showed. It is up 0.8% so far this year. ** The…
Sri Lanka’s new government is exploring options to attract more foreign direct investments into expressways and other infrastructure projects, State Minister for Investment Promotion Keheliya Rambukwella said. “I don’t think we need any foreign support right now. Instead of loans, it is time to look at foreign direct investment. We have taken enough loans. During…
The Ceylon Chamber of Commerce is optimistic that the revisions in Taxes and Levies announced by the government will stimulate the economy. The slew of tax proposals put forward as part of the stimulus package will revive economic growth and activity in the short-term. Our expectation is that recent statements by the government in curtailing…
“Sustainable investing has continued to gain momentum among financial market participants and Environment, Social and Governance factors are vital determinants of investment decisions. As this requirement comes into the fore, it is vital that listed entities take steps to effectively measure and communicate ESG performance and impacts to its stakeholders” said the Chairman of the…
Presented industry’s coveted accolade for 11th time The Commercial Bank of Ceylon has been crowned the ‘Bank of the Year’ 2019 in Sri Lanka by The Banker Magazine of the UK, the longest-running international banking publication in the world. Considered the Oscar equivalent in the global banking fraternity, this award is presented to financial institutions…
INSEE Cement to Pass on the Benefit of Tax Relief to its Customers, Reduces its Prices of Cement in Bags and Bulk Accordingly. INSEE Cement Sri Lanka (Siam City Cement (Lanka) Ltd) announced that it will be passing on the tax reduction benefits to its consumers and industrial customers. Following the recent announcement by the…
Business sentiment reached nine month high ahead of presidential poll Sri Lanka’s trade deficit widened in September with a decline in earnings from exports exceeding the fall in import expenditure, according to the Central Bank of Sri Lanka. “The trade deficit remained significantly low in the first nine months of 2019 over the same period…
BBC – Larry Page and Sergey Brin, co-founders of Google, have announced they are stepping down from running the online giant’s parent company. The pair will leave their respective roles as Alphabet’s CEO and president but will remain on the company’s board. Google’s CEO Sundar Pichai will become Alphabet’s CEO too, a statement said. Alphabet…
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