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Netflix’s New Parental Leave Policy Could Make Things Worse for Women

No doubt people are dancing a jig with Netflix’s announcement Tuesday that the tech company will allow its employees to take unlimited maternity or paternity leave during the first year after their child’s birth or adoption—while earning their normal pay. “We want employees to have the flexibility and confidence to balance the needs of their…

(0)Comments | August 6, 2015 4:27 pm

ACL Cables wins Prestigious Export Award

ACL Cables, the No. 1 cable company in Sri Lanka with 70% market share as a group and over 13 billion turnover in the local cable industry, has been recognized at Sri Lanka’s prestigious Global Commerce Awards, presented by the Shippers’ Academy Colombo, in association with the Central Bank of Sri Lanka.  The company received…

(0)Comments | August 6, 2015 11:07 am

Vidullanka’s subsidiary in power purchase agreement with Ugandan government

Muvumbe Hydro (U) Limited, an Ugandan subsidiary of Sri Lanka’s Vidullanka PLC since October 2013, has entered into a power purchasing agreement with the Uganda Electricity Transmission Company Limited (UETCL) a government owned company tasked with power purchase and transmission in Uganda. Under this agreement, Muvumbe Hydro (U) Limited would be entitled to develop the…

(0)Comments | August 5, 2015 9:44 pm

Colombo stocks continue upswing

Colombo equities continued the upswing after the break in yesterday’s session to close at a six-month high despite the incline in weekly T-bill yields and foreign selling. The main index advanced notably by 56.26 points or +0.77% to end at 7,366.31 whilst S&P SL 20 index gained 10.39 points (+0.26%) to end at 4,083.02. Treasury…

(0)Comments | August 5, 2015 5:05 pm

UDA’s latest financial report indicates drop in profit

The latest financial report released by the Urban Development Authority indicates that its profits during the 2015 March quarter has dropped by 85 per cent to Rs. 199 million as against the same period last year. The UDA’s income dropping by 80 per cent to Rs. 709 million is a significant feature.

(0)Comments | August 5, 2015 2:19 pm

Chinese beat Indians in rushing to Sri Lanka

During last July 25,120 Chinese tourists have arrived in Sri Lanka, making China the country from where the most number of tourists visit the island nation. India being the country with the second most number of tourists to the island is a significant feature. The arrival of Chinese tourists to Sri Lanka during the past…

(0)Comments | August 5, 2015 2:10 pm

Commercial Bank launches low cost insurance for micro borrowers

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…

(0)Comments | August 5, 2015 11:48 am

Going gets tough for Indian Oil Company

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…

(0)Comments | August 5, 2015 11:35 am

Oil price unlikely to recover as Saudi refining hits market

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…

(0)Comments | August 5, 2015 5:33 am

Stocks fell on Tuesday, snapping four-day winning streak

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…

(0)Comments | August 4, 2015 6:04 pm