India’s central bank Tuesday cut its key interest rate more than markets expected and for the fourth time this year amid optimism Indian inflation rates will remain low. Reserve Bank of India Governor Raghuram Rajan cut the repurchase-agreement rate by 0.5 percentage point to 6.75%. That brings the total easing by India’s central bank to…
By now there is talk in Sri Lanka about Metropolitan Development. A Ministry known as ‘Ministry of Megapolis’ has also been created. This is a discussion on this concept with Pathfinder Foundation Executive director Lakshman Siriwardene:
The Colombo Stock Exchange (CSE) joined the United Nations Sustainable Stock Exchanges (SSE) initiative, a partnership among the UN, UN-supported organizations, stock exchanges, investors, companies, regulators and governments around the world. The chairman of Colombo Stock Exchange Mr Vajira Kulatilaka made the public announcement of its entrance to SSE during a special Leadership Luncheon on…
Switzerland has temporarily banned the sale of Volkswagen (VW) diesel-engine models which could have devices capable of tricking emission tests. It said the move could affect 180,000 cars – not yet sold or registered – in the Euro5 emission category. This comes after VW, the biggest carmaker in the world, admitted cheating on emissions tests…
The Board and Management of Cyril Rodrigo Restaurants Limited (owners of Green Cabin) have issued a statement clarifying their position in relation to the alleged rape of an autistic employee. We are deeply concerned about this incident and our heartfelt sympathies are with the victim and his family. As an institution, we will facilitate an early resolution of the ongoing inquiry, and will endeavour to balance the need for due process in a criminal court…
Colombo bourse ended the sluggish week with another flat close on Friday ahead of the monthly monetary policy review. The indices are going through a consolidation phase and most of the investors are sticking to the sidelines amid mixed signals on the outlook for the economy. Benchmark ASI closed at 7,110.80 with a drop of…
The significant depreciation of the Sri Lankan Rupee has become a main topic of discussions. This is an interview with economic analyst Hasitha Premaratne with main analytical emphasis on the issue:
What is Volkswagen accused of? It’s been dubbed the “diesel dupe”. The German car giant has admitted cheating emissions tests in the US. According to the Environmental Protection Agency (EPA), some cars being sold in America had devices in diesel engines that could detect when they were being tested, changing the performance accordingly to improve…
Sri Lanka’s recently elected prime minister, Ranil Wickremesinghe, received a warm welcome in New Delhi. He has long been regarded as a friendly statesman, sensitive to India’s national security interests. He had also shown courage in seeking to build bridges with the estranged Tamil minority in the island’s northern and eastern provinces. During his second…
Following the drop in fuel prices in the world market, though the Ceylon Petroleum Corporation (CPC) enjoyed some profits during the first two months of 2015, it has come to light that the corporation has incurred losses following the government reducing the prices of diesel, petro and kerosene oil in the local market. Mid-Year Fiscal…
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