Macksons Properties (Pvt) Ltd the newest business venture of Macksons Holdings entered into an agreement with the BOI Sri Lanka for the development of a 100 room luxury service apartment project in the heart of Colombo 3. This agreement was signed by the Chairman of the BOI, Dr.Lakshman Jayaweera and the Deputy Chairman of Macksons…
NEW DELHI – After a prolonged period of political drift and paralysis, India’s new government will be led by a man known for his decisiveness. Just as Japanese Prime Minister Shinzo Abe’s return to power in late 2012, after six years of political instability, reflected Japan’s determination to reinvent itself as a more competitive and…
US car manufacturer General Motors has been fined $35m(£20.8m) for delays in recalling small cars with faulty ignition switches. The fine is the maximum allowed by US law. GM said it had already begun reviewing its processes and policies to avoid future delays to recalls of this nature. To date, the firm has recalled 2.6…
The latest National Development Bank (NDB) financial report reveals that the bank’s profits have risen by 135 percent to Rupees 1.19 billion during the March quarter. While the bank’s per share earnings has recorded Rs. 29.66, the net interest earnings has increased by 16 percent to Rs. 1.86 billion. It has also revealed that within this…
Colombo equities wrapped its weekly operations in green territory where benchmark index expanded by 30.23 index points or 0.48% to end at 6,315.19. 20-scrip S&P SL index marginally grew by 0.18 index points to or 0.01% to end at 3,479.17. Price appreciations in Ceylon Tobacco Company (closed at LKR 1,089.50, +1.7%), Nestle Lanka (1,989.00, +2.1%)…
While the Narendra Singh Modi led Bharathiya Janatha Party (BJP) is on a massive winning spree at the Indian general elections, the Indian Rupee is appreciating as against the US dollar, state the Indian media. The reason has been attributed to the increase in investments in the Indian stock and exchange markets due to the…
The Indian rupee strengthened to its highest level in about 10 months on Thursday, while also posting its biggest single-day gain in nearly three weeks on the back of sustained dollar inflows into domestic shares ahead of election results. Hopes that the Bharatiya Janata Party and its allies will win an outright majority have helped…
Samsung says it will compensate chip factory workers who developed cancer while working for the firm. The company issued its first apology in a long-running dispute and withdrew from a legal bid to avoid paying out. It brings the conflict one step closer to resolution only a month after talks appeared to have stalled. But…
Toyota said on Monday that it would allow a battery-supply deal with Tesla Motors to expire this year and would focus instead on building cars running on hydrogen fuel cells, a next-generation technology that rivals Tesla’s all-electric systems. Toyota Motor invested $50 million in Tesla to acquire a 3 percent stake in the Silicon Valley…
Colombo bourse shattered the four day winning splash on Tuseday, posting negative returns on both indices. Benchmark All share price index lost 18.20 points (-0.29%) to end at 6,284.96 while S&P SL 20 index marginally declined by 1.92 points (-0.06%) to end at 3,478.99. Price depreciation in counters such as Ceylon Tobacco (closed at LKR…
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