Britain has voted to leave the European Union, results from Thursday’s landmark referendum showed, an outcome that sets the country on an uncertain path and deals the largest setback to European efforts to forge greater unity since World War Two. World financial markets dived as nearly complete results showed a 51.7/48.3 percent split for leaving….
~ Suggests remunerating workers during 12 days of the month based on the existing method and on the rest of the working days based on output The Regional Plantation Companies (RPCs) have put forward a modified proposal on the wages of estate/plantation sector workers, which via a hybrid solution attempts to bridge the gap between…
Sri Lanka’s surging retail supermarket industry’s newest rising star is from an unlikely source-the cooperatives movement of the country. “Out of all the top six supermarket brands, our coop-city cooperative shop is the third ranking supermarket for household purchases among Sri Lankan households” said Minister of Industry & Commerce Rishad Bathiudeen on 23 June. Minister…
A vote for the U.K. to leave the EU would take stocks, bonds and currencies on a wild ride The ramifications of the U.K.’s referendum Thursday on European Union membership will spill through Britain’s politics, Europe’s brittle economy and the world’s restive financial markets. A frenzy of recent polls has ping-ponged a tiny lead between…
BRUSSELS: The atmosphere in Brussels has been surreal for weeks- business goes on as usual, officials are barred from using the word “Brexit” and life proceeds as if Britain’s EU referendum does not exist. But this phoney calm belies the fact that, whether Britons vote to leave or remain on Thursday, the European Union will…
A one-time chairman of the Securities and Exchange Commission, Dr. Dayanath Jayasuriya who assumed duties as the new chairman of Blue Diamond Jewellery Worldwide PLC has resigned for his post. He is the second to have resigned as chairman of this company within the last four days. Chinese national Xia Liqiang’s term was ended on…
Government plans to bring in a new proposal to increase taxes of cigarettes to 90% of their purchase price. Minister of Health Dr. Rajitha Senaratne in his capacity as the Cabinet Spokesman told media that he would draft a Cabinet paper to increase taxes on cigarettes from the present 67%-72% to 90% of purchase price….
Fitch Ratings-Colombo/Hong Kong-22 June 2016: Insurance claims arising from recent flooding in Sri Lanka are likely to be manageable for most local insurers due to low retention levels, but changing weather patterns raise long-term risks, says Fitch Ratings. The agency expects the sector’s underwriting profitability to weaken in 2016, although this is unlikely to threaten…
Reuters – Sri Lankan shares fell for a third straight session on Wednesday to hit a more than 8-week closing low as investors turned cautious ahead of a monetary policy rate announcement by the central bank later in the week. The central bank will announce June monetary policy rates at 1230 GMT on Friday and…
Youth Business Sri Lanka, an arm of the Ceylon Chamber which works to develop young entrepreneurs in the country is looking to transform and grow its engagement model with the support of two Australian volunteers. Sean Burk, from Tasmania, an experienced accountant and financial controller and Richard McKeon, a Gold Coast based management consultant with…
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