BRUSSELS: The atmosphere in Brussels has been surreal for weeks- business goes on as usual, officials are barred from using the word “Brexit” and life proceeds as if Britain’s EU referendum does not exist. But this phoney calm belies the fact that, whether Britons vote to leave or remain on Thursday, the European Union will…
A one-time chairman of the Securities and Exchange Commission, Dr. Dayanath Jayasuriya who assumed duties as the new chairman of Blue Diamond Jewellery Worldwide PLC has resigned for his post. He is the second to have resigned as chairman of this company within the last four days. Chinese national Xia Liqiang’s term was ended on…
Government plans to bring in a new proposal to increase taxes of cigarettes to 90% of their purchase price. Minister of Health Dr. Rajitha Senaratne in his capacity as the Cabinet Spokesman told media that he would draft a Cabinet paper to increase taxes on cigarettes from the present 67%-72% to 90% of purchase price….
Fitch Ratings-Colombo/Hong Kong-22 June 2016: Insurance claims arising from recent flooding in Sri Lanka are likely to be manageable for most local insurers due to low retention levels, but changing weather patterns raise long-term risks, says Fitch Ratings. The agency expects the sector’s underwriting profitability to weaken in 2016, although this is unlikely to threaten…
Reuters – Sri Lankan shares fell for a third straight session on Wednesday to hit a more than 8-week closing low as investors turned cautious ahead of a monetary policy rate announcement by the central bank later in the week. The central bank will announce June monetary policy rates at 1230 GMT on Friday and…
Youth Business Sri Lanka, an arm of the Ceylon Chamber which works to develop young entrepreneurs in the country is looking to transform and grow its engagement model with the support of two Australian volunteers. Sean Burk, from Tasmania, an experienced accountant and financial controller and Richard McKeon, a Gold Coast based management consultant with…
High regional disparity in economic development has been a common characteristic in the Sri Lankan economy for a long period of time. The long drawn internal conflict further aggravated the situation and the businesses in the North and East have been operating in isolation for nearly three decades. Though the regional disparities have slightly reduced…
The Guardian Acuity Money Market fund which is more than four years old has returned 48.44% to its investors. This is an annualized return of 11.37%. The fund invests in government securities, fixed deposits and commercial papers and provides for easy withdrawals with no penalties for withdrawals. The Money Market Gilt fund which was launched…
Inflation, as measured by the change in the National Consumer Price Index (NCPI) (2013=100), which is compiled by the Department of Census and Statistics, increased to 5.3 percent in May 2016 from 4.3 per cent in April 2016, on year-on-year basis. Both Food and all Nonfood categories except for the Housing, Water, Electricity, Gas, and…
When it came out, the Nissan Leaf‘s battery pack was deemed ample, its 24-kWh battery providing some 70 to 80 miles of range. But now, in a segment soon to be lousy with 200-mile EVs from Chevrolet and Tesla, those numbers just aren’t enough to be competitive. Thankfully, there’s a new Leaf on the way,…
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