Samsung says it will compensate chip factory workers who developed cancer while working for the firm. The company issued its first apology in a long-running dispute and withdrew from a legal bid to avoid paying out. It brings the conflict one step closer to resolution only a month after talks appeared to have stalled. But…
Toyota said on Monday that it would allow a battery-supply deal with Tesla Motors to expire this year and would focus instead on building cars running on hydrogen fuel cells, a next-generation technology that rivals Tesla’s all-electric systems. Toyota Motor invested $50 million in Tesla to acquire a 3 percent stake in the Silicon Valley…
Colombo bourse shattered the four day winning splash on Tuseday, posting negative returns on both indices. Benchmark All share price index lost 18.20 points (-0.29%) to end at 6,284.96 while S&P SL 20 index marginally declined by 1.92 points (-0.06%) to end at 3,478.99. Price depreciation in counters such as Ceylon Tobacco (closed at LKR…
Indian stock markets have risen to a record high after exit polls suggested the Narendra Modi-led Bharatiya Janata Party (BJP) and its allies are on course to win the general election. India’s main stock index, the Sensex, rose 1.7% to 23,941.32 points in early trade on Tuesday. This follows a 2.4% gain on Monday ahead…
The Mari Petroleum Company, a joint venture of Pakistan government and the Fauji Foundation, announced on Monday a ‘significant’ gas and condensate discovery with estimated reserves of about 20 billion cubic feet (BCF) in Sujawal district of Sindh. “We have been blessed with a significant gas and condensate discovery in Sujawal Block’s Sujjal-1 well,” said…
The board of directors of Sierra Cables Plc has informed the Colombo Stock Exchange that a discrepancy of Rupees 172 million has been noted in its accounts further investigations are being made. Hence, the Sierra Cables board of directors has requested the Colombo Stock Exchange to temporarily suspend its share trading. The board has also…
Sri Lanka Telecom (SLT) group has recorded a profit of Rs. 547 million, which is a drop of 66 percent during the quarter ending March 2014. Accordingly, the per share profit of the group for this quarter is only cents 30. Though the revenue has increased by six percent to Rs. 15.2 billion, the main…
India’s TATA Housing together with the Urban Development Authority (UDA) begins a USD 430 million mixed development project on a three acre plot of land at Slave Island in Colombo. While the first phase of this project was launched yesterday (11 May) by Defence and Urban Development Ministry secretary Gotabhaya Rajapaksa, four towers with 650…
Popular Korean car maker Kia has unveiled the prototypes of two electric bicycles as part of the company’s commitment to zero emission propulsion, 70 years after it first manufactured bicycle parts in Korea in 1944. Powered by a 250 Watt rear-wheel drive electric motor powered by a detachable 36 Volt, 10 ampere lithium-ion polymer battery,…
The Commercial Bank of Ceylon PLC has made a measured start to 2014 despite excess liquidity, lower demand for credit and thinning margins. The Bank has reported operating profit before VAT and NBT of Rs 3.897 billion for the three months ended 31st March 2014, reflecting growth of 4.73% over the first quarter of 2013….
Video Story
