The Franco-Japanese alliance of Renault-Nissan is making a major innovation in the form of a common engine platform which can be used for both petrol and diesel-fuelled cars. The innovation, which is at an advanced stage, will help the company de-risk itself from the vagaries of market — Indian car buyers oscillate between petrol and…
The heir to the Nina Ricci perfume and fashion fortune has been convicted of tax fraud by a Paris court after hiding millions in an offshore HSBC account. Arlette Ricci, 73, was sentenced to a year in prison and ordered to pay a €1 million (£720,000; $1.1m) fine. The court also confiscated two properties worth…
The National Mobile Service Provider Mobitel declared open the newly refurbished, state-of-the-art computer lab at Royal College in Polonnaruwa, which is another Corporate Social Responsibility (CSR) initiative by the operator. Mobitel refurbished the computer lab in its entirety while also providing new desktops and high speed internet connectivity and thereby setting up a fully-fledged and…
A section of the factory belonging to Brandix, the single largest apparel manufacturer in Sri Lanka, situated within the Katunayake Export Processing Zone was destroyed by a fire which broke out at the premises this morning (13 April). Police said that this factory was closed for the Sinhala and Tamil New Year and that they…
COLOMBO: The fledgling Maithripala Sirisena-Ranil Wickremesinghe government appears to be yielding ground to a resurgent former President Mahinda Rajapaksa because of internal disunity, contradictory policies and indecisive political leadership. The first concrete sign of deep trouble appeared on Tuesday when the government’s bid to get parliament’s nod for raising the threshold of Treasury Bills by…
Get ready for a new economic order. In the world 15 years from now, the U.S. will be far less dominant, several emerging markets will catapult into prominence, and some of the largest European economies will be slipping behind. That’s according to the U.S. Department of Agriculture’s latest macroeconomic projections that go out to 2030,…
Colombo equities wrapped the weekly operations on a mixed note ahead of the Sinhala & Tamil new year holidays. Bourse witnessed a lackluster trading session on Friday where All share index marginally increased by 0.03% (1.77 index points) to end at 6,901.06 while 20-scrip SP SL index shed 6.16 index points or 0.16% to close…
Vajira Wijegunawardene, Director – Capital Market Development of the Securities & Exchange Commission (SEC) has been appointed its Director General. It was earlier reported that SEC Deputy Director General Dhammika Perera’s name had been proposed to this vacancy since this top position had remained vacant for some time and the vacancy advertised recently. Professor Harendra…
The government is to begin investigations into the loss of billions of rupees by the National Savings Bank (NSB) due to questionable share transactions since 2011, said Finance Minister Ravi Karunanayake at a media briefing at his Ministry today (10 April). According to the Minister, a certain organized group with the connivance of a share…
The government has appointed Kurupanawa Gamage Leelananda as Chairman of Lanka Cement PLC along with a Board of Directors. Mohomed Riyyaz Sanoon Sally and Wickramasooriya DissanayakelageJanaka Karunaratne have been appointed Directors. According to the government Mohomed Riyyaz Sally has been appointed Managing Director of Lanka Cement PLC in addition to his post of Director.
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