The Otara Foundation has appealed to President Maithripala Sirisena to intervene to prevent wild animals rescued from forests being sent to zoos instead of being returned to the wild. Otara Gunewardene has in a letter addressed to the President brought to his attention the case of four sloth bear cubs and a leopard cub now…
Toyota has recently filed a strange patent that hints the company may be developing a flying car. The patent was filed in the U.S. and published today for a “stackable wing for an aerocar.” The patent was originally filed on March 2, 2014 and its abstract reads: “A wing includes an upper surface that forms a generally…
Consequent to the signing of a special currency swap agreement for US$ 1.1 billion by the Central Bank of Sri Lanka (CBSL) with the Reserve Bank of India (RBI) on 17 July 2015, the CBSL has received US$ 1.1 billion Thursday, 03rd September 2015. This is in addition to the US$ 400 million received in…
The rupee closed at an all-time low on Thursday as a State-run bank, through which the Central Bank usually directs the market, raised the currency’s peg against the dollar by 25 cents to allow the exchange rate to depreciate. The rupee ended 0.19% weaker at 134.75 per dollar compared with Wednesday’s close of 134.50, the…
South Korean electronics firm Samsung said on Wednesday said it is launching Galaxy Tab S2 at Rs 39,400. The company claimed that it is the world’s slimmest tablet. “The Galaxy Tab S2 is the world’s slimmest tablet. The Galaxy Tab S2 combines features that enhance productivity and usability for a complete user experience powered by…
Colombo stock market drifted sideways on Thursday to record mixed returns with low turnover and volume. Benchmark index dipped to 7,239 but gained ground to close at 7,245.50, up by 5.11 index points or 0.07%. 20-scrip S&P SL index slightly declined to end at 3,978.84, down by 1.06 index points (-0.03%). Price advancement in…
A treasured city in the pearl of the Indian Ocean, the city of Galle is an eloquent ode to the European style and culture that revolved around the colonial era of the island. Being invaded by the Portuguese and then the Dutch, Galle was sculptured by them in a uniquely distinct manner from all other…
The Pathfinder Foundation (PF) at the outset wishes to emphasise the need for the government (the President, the Prime Minister, his Cabinet as well as heads of institutions dealing with key economic sectors) to operate in a well-coordinated and consistent manner. The new government which has committed to operate in a consensual spirit (sammuthi vaadi)…
Eden Hotel Lanka PLC is to issue 52,800,000 new ordinary shares by way of a Rights Issue in the proportion of one new share for every existing ordinary share at Rs. 20 each. The proceeds would be utilized to repay part of the existing debts.
Fitch Ratings has maintained the ‘(A(lka))’ National Fund Credit Quality Rating of the Ceylon Income Fund on Rating Watch Negative. The National Fund Volatility Rating is ‘V-NR’. KEY RATING DRIVERS The maintenance of the RWN is driven by an increase in the proportion of the fund rated only by Lanka Rating Agency (LRA) following redemption…
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