A low cost insurance scheme that will protect micro borrowers has been launched by Commercial Bank of Ceylon in association with two insurance companies,Ceylinco Insurance and BIMA. The policy will cover the borrowers against accidental death or permanent disability, compensate for loss of income due to hospitalisation and also contribute towards funeral expenses. Monthly premiums…
During the June quarter of 2015 Lanka Indian Oil Company’s (LIOC) profits have dropped by 86 per cent to Rs. 171 million as against the same period in 2014. The volume of fuel sold by LIOC during the June quarter of 2015 has dropped by 18.7 per cent bringing in a income of Rs. 17.4…
Oil prices are unlikely to recover soon as Saudi Arabia’s drive to boost its refining activities is expected to force refineries elsewhere to slow down their operations, thus creating an even bigger glut of unwanted crude oil. Two big new refineries in Saudi Arabia are adding to growing supplies of diesel and jet fuel, which…
Equities fell on Tuesday, snapping the four-day winning streak as profit taking halted the upward drive on the Colombo Bourse. In the opening hours, main index advanced to 7,345 mark but failed to continue the positive momentum and closed 26.54 index points or 0.36% below at 7,310.05 while 20-scrip S&P SL index declined by 16.06…
Politicising youth employment In the early years after independence, it was generally accepted that the government’s role was limited to providing defence, national security, revenue collection and a few other basic services. In sectors such as education and health, employment was provided both by the government and the private sector. From the late 1950s a…
Emirates passengers looking to explore beyond the airline’s network of American destinations now have dozens of options with the Americas Pass. With one combined ticket, travellers flying to any of Emirates’ 10 US destinations can connect to over 90 cities across the USA, Canada and Latin America through Emirates’ five partner airlines: Jet Blue, Alaska…
By Dr. Nirmal De Silva It is widely-known that population ageing is a global phenomenon, with the number of people aged 65 years and above expected to grow significantly across Asia in the coming years and decades. According to latest research carried out by Regus, the global workplace provider, it has been revealed that 84%…
MillenniumIT, the provider of ultra-low latency, agile and resilient capital markets solutions and part of London Stock Exchange Group, today announced that Johannesburg Stock Exchange has selected MillenniumIT to provide the technology for its derivatives and fixed income markets. The move will extend JSE’s use of MillenniumIT’s next generation integration platform (MAP™), the Millennium Exchange™…
Diversified conglomerate Sunshine Holdings PLC will support this year’s edition of the country’s premier economic summit hosted by the Ceylon Chamber of Commerce (CCC), on the timely theme of ‘Towards exports of USD 50 billion’, as the Platinum Sponsor. The high-level annual forum brings together ‘thought leaders’ – policymakers, top local and foreign academics, corporate…
The Sri Lankan multinational Haycarb PLC reported revenue of Rs. 2.9 billion, and profit before tax of Rs. 220 million for the first quarter of 2015/16.The profit after tax was Rs. 191 million. Haycarb PLC Managing Director Mr. Rajitha Kariyawasan said that the downturn in the gold mining industry coupled with significant depreciation of currencies…
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