South Asian countries, including Sri Lanka, can benefit from urbanization as a major opportunity to transform their economies and join the ranks of richer nations, according to a World Bank report titled ‘Leveraging Urbanization in South Asia: Managing Spatial Transformation for Prosperity and Livability’. Difficulty in dealing with the pressures that urban populations put on…
Olaf Lies, a Volkswagen board member and economy minister of Lower Saxony has told Newsnight some staff acted criminally over emission cheat tests. He said the people who allowed the deception to happen or who installed the software that allowed certain models to give false emissions readings must take personal responsibility. He also said the…
Colombo equities swung between gains and losses on Tuesday and ended the session on a mixed note. Main index managed to touch 7,099 mark but failed to retain the momentum and closed at 7,085.38, up by 6.74 index points or 0.10%. S&P SL20 index shed 10.94 index points or 0.28% to end at 3,858.61. Price…
The private healthcare sector in Sri Lanka, a country with a high rate of elderly persons, has shown high growth and that the space in government hospitals is inadequate, says the internationally recognized statistical rating organization, Fitch Ratings. According to Fitch Ratings, currently around 09 per cent of Sri Lanka’s population is 65 years or…
Latest date released by the Central Bank of Sri Lanka indicate that Sri Lanka’s tea exports have dropped drastically for the 12th consecutive time during last July in the face of the crisis situations in the Middle East and Russia. Accordingly, when compared to July 2014, Sri Lanka’s tea exports have dropped by 14 per…
Audi and Skoda say they have a total of 3.3 million cars fitted with the software that allowed parent company Volkswagen to cheat US emissions tests. Some 2.1 million Audis affected worldwide include 1.42 million in western Europe, with 577,000 in Germany, and almost 13,000 in the US. Czech-based Skoda said 1.2 million of its…
India’s central bank Tuesday cut its key interest rate more than markets expected and for the fourth time this year amid optimism Indian inflation rates will remain low. Reserve Bank of India Governor Raghuram Rajan cut the repurchase-agreement rate by 0.5 percentage point to 6.75%. That brings the total easing by India’s central bank to…
By now there is talk in Sri Lanka about Metropolitan Development. A Ministry known as ‘Ministry of Megapolis’ has also been created. This is a discussion on this concept with Pathfinder Foundation Executive director Lakshman Siriwardene:
The Colombo Stock Exchange (CSE) joined the United Nations Sustainable Stock Exchanges (SSE) initiative, a partnership among the UN, UN-supported organizations, stock exchanges, investors, companies, regulators and governments around the world. The chairman of Colombo Stock Exchange Mr Vajira Kulatilaka made the public announcement of its entrance to SSE during a special Leadership Luncheon on…
Switzerland has temporarily banned the sale of Volkswagen (VW) diesel-engine models which could have devices capable of tricking emission tests. It said the move could affect 180,000 cars – not yet sold or registered – in the Euro5 emission category. This comes after VW, the biggest carmaker in the world, admitted cheating on emissions tests…
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