Though SriLankan Airlines’ passenger capacity is similar to other airlines, the increase in its fuel costs are one of the reasons for it to incur huge losses, says the Central Bank of Sri Lanka (CBSL). SriLankan Airlines’ fuel costs are almost half of its maintenance costs since more fuel consuming aircraft like the old A340-300…
A new beginning has been made to transform Sri Lanka’s outdated university education system to suit the modern world, says the Higher Education Ministry secretary. Higher Education Ministry secretary Dr. Sunil Jayantha Navaratne told AdaderanaBiz that already a programme is underway where each university student is provided at least with one handbook as the initial…
President Mahinda Rajapaksa opened Sri Lanka’s first automated motor car production line of Micro Cars at the Polgahawela Industrial Zone yesterday. Pictures – Chandana Perera
While most people like to focus on the iPhone when it comes to Apple, it’s the iPad that’s perhaps the more intriguing story. Philip Elmer DeWitt has gathered analysts’ predictions for the iPad for the March quarter, and the consensus sees Apple selling 19.33 million iPads. If accurate, that’s a 0.7% drop on a year-over-year…
Facebook today launched Nearby Friends, a new option in the company’s main app for Android and iOS rolling out “over the coming weeks” in the US. The feature lets you see which friends are close to you, assuming that both you and the other party have enabled the functionality first. Before we dig in, it’s…
Colombo bourse closed the trading on Thursday on an upbeat note, recoding gains for the third consecutive trading session. ASI index gained 61.91 index points or +1.01% to close at 6,180.76, simultaneously 20 scrip S&P SL index gained 26.54 index points or 0.79% to close at 3,395.47. Price appreciations in Ceylon Tobacco (closed at LKR…
BTC China, one of the country’s leading digital currency exchanges, has installed China’s first bitcoin ATM and launched an online app allowing individuals to buy and sell bitcoins using mobile phones, skirting local banking regulations seen as increasingly hostile to so-called crypto-currencies. Rising interest from mainland Chinese speculators was credited for driving up global bitcoin…
The Colombo Stock Exchange (CSE) has approved Richard Pieris to list its debt securities at the stock market. Accordingly, the CSE has approved the Company’s 30,000,000 Rated Unsecured Redeemable Debentures at an issue price of Rs. 100 each with an option to issue another 5,000,000 Debentures in the event the initial 30,000,000 debentures are oversubscribed….
China’s demand for gold is set to rise by about 20% over the next few years, the World Gold Council has estimated, as the population becomes more wealthy. The council estimates private sector demand for gold in China will rise to at least 1,350 tonnes by 2017. Chinese customers bought 1,132 tonnes of gold last…
Thousands of workers at a major shoe factory in China, which supplies brands including Nike and Adidas, are striking over social security payments. Workers at the Yue Yuen factory, in the southern industrial hub Dongguan, are demanding better social insurance and housing fund contributions. The dispute has been ongoing since early April, with workers reportedly…
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