Reuters – China’s Alibaba Group Holding Ltd (BABA.N) and Tencent Holdings Ltd (0700.HK) rallied behind Beijing’s recently-imposed cyber security law on Thursday, following criticism of it from overseas technology rivals. The country’s two tech giants also urged closer cooperation between the public and private sectors at China’s third World Internet Conference, which has focused on…
Perceived Economic Opportunity PEO: September, 2016 This brief report of the Perceived Economic Opportunity (PEO) presents the analysis of a random survey carried out using a sample of 400 men and women in September 2016 covering all districts in Sri Lanka on their expectations of economic prospects in the coming 12 months. Status of the…
The Securities & Exchange Commission (SEC) has decided to relax the regulations on the Minimum Public Float in listed companies in Sri Lanka. According to the new SEC regulations, there would be no necessity for a minimum public float for public companies listed under the main board and with a Rs. 10 billion adjusted threshold…
HNB continued its trailblazing performance in 2016 with the Group’s nine month PAT growing by 54.2% to exceed Rs 11 Bn. Group performance mirrored that of the Bank which reported an increase of 52.6% Year-on-Year (YoY) in profit before VAT and taxes to Rs 17.3 Bn and an increase in PAT by 48% YoY to…
While joining Ada Derana Biz 24×7 for an interview, Lanka Vehicle Importers’ Association chairman Indika Sampath Merinchige said that he gained an opportunity to his views when the 2017 budget proposals were being prepared and that the Finance Minister has taken his views and proposals when preparing the budget. Accordingly, through this budget a tax…
The Planters’ Association of Ceylon (PA) issued a statement raising its serious reservations as to the feasibility and potentially ruinous impact of recent budget proposals on Sri Lanka’s plantation industry. The proposal in question calls for a reduction in the maximum acreage that can be held by any stand-alone plantation company. Without being allowed to…
In keeping with its continuing efforts to ensure the country was in line with international standards, the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) has taken steps to implement the new Audit Report from March 2018. The new Audit Report by the International Auditing and Assurance Standards Board (IAASB) of International Federation…
Budget 2017 has signaled continuity in the economic policy priorities of the government, following from Budget 2016, and the Prime Minister’s economic policy statements of November 2015 and October 2016. CCC observes that Budget 2017 seeks to continue the government’s focus on modernizing the economy, inclusive growth, strengthening the middle class, and rebalancing towards an…
Dr. Patrick Dixon, a globally acclaimed futurist and a growth strategist says he is very upbeat about Sri Lanka’s future and our culture of innovation. Dr. Dixon, the Chairman of Global Change Limited and the co-founder of Global Innovators made this observation, when he addressed CEOs of the Sri Lankan firms at the Ceylon Chamber…
Expo Rail, a subsidiary of Classic Travel, celebrated a milestone in its journey by marking the company’s 5th anniversary last month. In the short span of five years, Expo Rail has redefined rail travel in Sri Lanka driven largely by its customer care centric model employed by its team. Since its inception in 2011, Expo…
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