The lowest ever depreciation in history of the Sri Lankan Rupee against the US Dollar was recorded today (15 September). At the close of the money market today, the Sri Lankan Rupee recorded Rs. 140.25 against the US Dollar. The historic depreciation of the Rupee against the US Dollar is due to the lack of…
They are yet to hit the shelves, but activists are already campaigning against the sale of so-called sex robots, which may be “harmful and contribute to inequalities in society.” Several companies are developing robots that can be used as sexual substitutes for humans, leading to the launch of the “Campaign against sex robots” on Tuesday…
Colombo equities showed a lack of direction throughout the trading session on Tuesday and ended the day little changed. Investors hovered on the sidelines with little incentive to make a notable move as domestic economic concerns and possibility of fed rate hike weighed on the investor sentiment. The positive opening in todays’ session, failed to…
Sri Lanka hopes to hammer out an economic partnership deal with India this year, its prime minister said on Tuesday, seeking to strengthen the Indian Ocean island’s ties with its big neighbour and reduce its dependency on Chinese investment. Prime Minister Ranil Wickremesinghe, visiting New Delhi on his first visit abroad since winning a general…
Colombo equities started the weekly operation on a positive note ahead of the UNHCR sessions. Benchmark All Share Price index gained 8.95 index points or 0.13% to end at 7,162.44 while S&P SL 20 index advanced by 5.33 (+0.14%) to end at 3,919.61. Price appreciations in counters such as Commercial Bank (closed at LKR 168.00,…
His Excellency Kenichi Suganuma, Ambassador Extraordinary and Plenipotentiary of Japan in Sri Lanka says there is renewed interest shown by Japanese businesses to invest in Sri Lanka. He said the formation of a national government and the new government’s call for investors to arrive in Sri Lanka has propelled the new found interest by the…
The world’s wealthiest mafia group, Japan’s Yamaguchi-gumi yakuza, is undergoing a schism that could spark violent gang wars and have significantly affected businesses in and outside of Japan. The Yamaguchi-gumi, which Morgan Stanley analyst Robert Feldman once called Japan’s second largest private equity group, operates in 44 of Japan’s 47 prefectures, with a yearly net…
John Keells Holdings PLC together with its subsidiaries has increased its shareholding in Rajawella Holdings Limited from 16.9 per cent 51.0 per cent. Rajawella Holdings operates an 18-hole Donald Steel designed golf course at Digana in Kandy which, together with the development potential of the land bank complements the group’s leaiure and property portfolios. John…
Leading Sri Lankan textile manufacturer South Asia Textile Industries Lanka recently kicked off a highly ambitious expansion programme, having already begun investing what will ultimately be over Rs. 1 Billion, in total, in the latest 5th Generation Hybrid/Nano technology used in state-of-art textile machinery in all its divisions. These upgrades, comprising high-speed knitting machines from…
Nissan says that its updated Leaf electric car boasts an improved range of 250km thanks to the introduction of a new 30kWh battery. This represents about an 70km improvement over the existing model’s claimed range. The Japanese automaker says the new battery doesn’t affect internal packaging at all, featuring the same exterior dimensions as the…
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