The price of oil has fallen to fresh five-year lows in the wake of two separate reports indicating a global supply glut. Opec oil producers released a forecast indicating less global oil demand next year. A separate US report, which showed a surprise increase in the country’s crude oil supplies, also pushed prices lower. The…
Colombo stock market managed to rebound on Wednesday amid Treasury bill yields declining further in today’s auction. Core index bagged 36.34 index points or 0.50% to end at 7,254.28 and 20-scrip S&P SL index gained 19.71 index points (0.49%) to close at 4,083.41. Price appreciations in counters such as John Keells Holdings (closed at LKR…
The European Union which buys around 50 per cent of Sri Lanka’s fishery exports recently imposed a ban on the import of fishery products from the island. Though this ban is to be effective from 15 January 2015, Sri Lanka still has an opportunity to avoid this. However, Sri Lanka has to take several tangible…
In 2015, Toyota will begin shipping hydrogen-powered vehicles to select US showrooms.The 4Runner TRD Pro will not be among them. Notwithstanding the Japan-only Toyota Land Cruiser 70 Series Anniversary Edition – a paragon of circa-1984 off-roading aesthetics and technology – there may be no more retrograde a vehicle introduced in 2014 than this special-edition SUV….
Plans are afoot to provide loans at low interest rates for those building eco-friendly ‘Green Houses’ says Ceylon Institute of Builders (CIOB) Chairman Dr. Rohan Karunaratne. During a special discussion with www.adaderanabiz.lk he added that discussions are ongoing with several banks in this regard. He pointed out that construction of environment friendly Green Buildings is…
Sri Lanka’s January – October YoY exports have surged by almost 9% while an export product that recently faced volatile EU markets showed a promising turnaround, as revealed on 09 December. “For the month of October 2014 alone our provisional exports were at $ 900 Mn- and this is only merchandise exports without taking into…
Several prominent private hospitals in Colombo are preparing to attract tourists for healthcare or Medical Tourism. While commenting on this latest opportunity which brings together two sectors, tourism and healthcare, Chief Executive Officer of Lanka Hospitals Dr. Lakieth Pieris said that Lanka Hospitals too was making preparations for this. The exclusive interview BIZ 24X7 of…
For many years, Sri Lanka experienced a steady “brain drain”, where highly-educated professionals sought out employment and started lives overseas. However, now this trend is slowly but surely reversing with a considerable number of them returning and settling back in the island. The end of the 30-year domestic conflict in 2009 was an obvious factor…
Former Malaysian Prime Minister Dr. Mahathir bin Mohamad who holds the reputation of transforming Malaysia into an Economic Tiger of Asia is to arrive in Sri Lanka this evening (09 December). He is to deliver the keynote address at the Hambantota Conclave 2014 at the BMICH Sirimavo Bandaranaike Hall A and B, a forum which…
Marilyn Monroe’s passionate love letters didn’t just mean a lot to her. They’re also worth tens of thousands of dollars apiece to the unnamed buyers who scooped them up at auction this weekend. One letter from her soon-to-be ex-husband Joe DiMaggio, the Yankee great, sold for more than $78,000, Julien’s Auctions announced. “Dear Baby —…
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