Greece has voted by a big margin against Europe’s latest bailout offer, raising the prospect that the country could now suffer a worse economic disaster and lose its place in the euro. More than 60% heeded left-wing Prime Minister Alexis Tsipras’ call to vote “no.” He hopes to force Europe to hand over more money…
Markets are already reacting to Greece’s rejection of Europe’s latest bailout offer, and it’s not pretty to watch. Major stock markets and the euro were all getting hit after Greek voters said “no” to the offer by a big margin in a referendum on Sunday, backing their left-wing prime minister’s call to reject austerity. The…
Sasha Dayal, the recently appointed General Manager of The Steuart by Citrus, Colombo’s latest boutique business hotel, announced exciting plans for the hotel, drawing from his international exposure and experience in the hospitality industry. He has the vision and expertise to drive the hotel to become a world class property and one of the most…
President Maithripala Sirisena is duty-bound to study the 447 page report issues by the Parliamentary Committee on Public Enterprises or COPE which includes the Bond Issue controversy where there are allegations against the Central Bank Governor, pointed out former COPE Chairman DEW Gunasekera. While speaking in Colombo today (03 July), he said that the committee…
An interim report released by the Finance Ministry reveals that during the first four months of this year revenue from Excise duties has grown by some 49 per cent to Rs. 33.5 billion when compared to the same period last year. Revenue from sale of high alcohol content liquor has grown by 32 per cent…
During the last five years some 100,000 Sri Lankans have worked in Chinese assisted projects in the island, says China Chamber of Commerce spokesman Chen Chuan. For example, some 4,500 Sri Lankans were engaged in the Chinese assisted project to construct the A9 highway to the north, whereas on 02 per cent were Chinese. With…
Airbus has signed a deal for its second factory in China as it expands further its growing relationship with the world’s second-largest economy. The new cabin-completion factory for A330 jetliners is worth a reported €150m ($166.3m; £106.5m) and is aimed at attracting new orders for Airbus. The plant will be built alongside an existing site…
Sri Lankan hotel group Jetwing has unveiled plans for as series of new and expanded properties to launch in the coming months. In September 2015, the company will launch two new properties, including the 55-room Jetwing Yarl in the northern city of Jaffna, and the 25-room Jetwing Kaduruketha, in the south-central town of Wellawaya. The…
Latest data reveal that SriLankan Airlines has incurred a massive loss during the first four months of 2015. With this, the overall loss by SriLankan Airlines has grown to Rs. 130.9 billion. While the revenue of SriLankan Airlines has been Rs. 39.6 billion during the first four months of this year, overall expenditure has been…
Nawaloka Hospitals had the ground breaking ceremony for the 14 floor multi-storey car park and specialist center adjacent to the existing hospital complex recently. With an investment of Rs. 2.5 billion, this fifth phase of expansion of capacity since the hospital’s inception, will add 450,000 square feet of floor area with state-of-the-art medical facilities for…
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