Sri Lanka Telecom (SLT) has appointed Dileepa Wijesundara as the Group Chief Executive with effect from 13th March 2015. Lalith de Silva has resigned with effect from March 13 but will not have duties from March 09, the firm said in a stock exchange filing. Dileepa Wijesundara holds a Bachelor of Science in Civil Engineering…
Powered by Android Wear™, the Huawei Watch Features a Fully Circular Timeless Design Huawei continues to break new ground in the wearables space by unveiling today the Huawei Watch, powered by Android Wear™ at Mobile World Congress (MWC) 2015. The fully circular watch features a 1.4-inch touch-sensitive AMOLED display, scratch-proof sapphire crystal lens, cold-forged stainless…
The Sri Lanka Central Bank rationalised the access to the Standing Deposit Facility (SDF) of the Central Bank In September 2014 to encourage commercial banks to utilise the high amount of excess liquidity prevailing in the market to enhance credit flows to the private sector at reasonable interest rates. Following this rationalisation of the SDF,…
The Colombo Stock Exchange (CSE) today announced the launch of Facebook and LinkedInPages to ensure greater engagement with stakeholders through social media channels, in its endeavour to broad-base investment amongst the masses. The Facebook Page intends on reaching retail investors and students who are eager to receive information on upcoming awareness programmes and informational snippets…
Colombo stock market swung between gains and losses on Tuesday amid the sharp increase in Treasury yields for the fourth consecutive week. During the opening hours, All share index inclined to 7,269.86 (+0.3%) but lost the momentum in the latter part. Bourse closed on opposite directions where core index shed 9.48 index points or 0.13%…
One-off and recurring taxes on the Sri Lankan telecoms sector as set out in the interim budget proposals on 7 February, raise regulatory risks and would lead to lower profitability and higher financial leverage for Sri Lankan telcos, says Fitch Ratings. The agency has revised its outlook on the sector to negative from stable. If…
Colombo equities started the weekly operations with negative returns on Monday amid sluggish activity seen among the investors. The market was up in the morning session but slide to close in negative column where the benchmark ASI declined to a nearly three week low of 7,244.40 with a drop of 56.89 points (-0.78%) to end…
In its first ever national level investment push on Sri Lanka, the fastest growth economy in the powerful OECD grouping called on 13 February for a bilateral investment protection treaty for the first time-and Sri Lanka’s bilateral trade with this easternmost economy of NATO is rising steadily. “Many Turkish companies are interested in Lankan infrastructure…
IMF, World Bank and other DonorSupport: Should not be a pretext for avoiding economic reform The IMF tends to be the refuge of countries that have mismanaged their economic affairs. In this context, it is important to recall that Sri Lanka has had to obtain balance of payments support from the IMF on a number…
Australia, Indonesia and Malaysia are to trial a new method of tracking planes, almost a year after a Malaysia Airlines flight disappeared. Contact with flight MH370, carrying 239 people, was lost en route from Kuala Lumpur to Beijing. Despite an extensive search no trace has ever been found. The trial system enables planes to be…
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