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Sri Lanka’s Access Engineering branches out to East Africa

Sri Lanka’s Access Engineering PLC has registered a branch office within the Free Zone of the Republic of Djibouti under the operating name of Access Engineering PLC East Africa Branch. The company has been authorized to carry out general trading activities, except retain sales in markets within and outside Djibouti. Access Engineering PLC East Africa…

(0)Comments | February 25, 2015 11:24 am

Mobile technology helps Sri Lanka cope with climate change

ROME (Thomson Reuters Foundation) – Floods and landslides linked to climate change have battered parts of Sri Lanka in the past two years, disrupting food output, but scientists believe a new program to install low-cost weather stations based on open-source technology could help farmers adapt to increasingly wild weather. New Mobile Weather Stations, made mainly…

(0)Comments | February 25, 2015 10:48 am

Stock Market Review – 24th Feb 2015

Colombo bourse edged lower on Tuesday as the main index lost 15.02 points or 0.21% to end at 7,311.29 while S&P SL 20 index lost 15.94 points (-0.39%) to end at 4,111.55. Today’s losses were mainly driven by the blue-chip counters such as Ceylon Tobacco (closed at LKR 1,030.00, -1.9%), Lanka Orix Leasing Company (closed…

(0)Comments | February 24, 2015 5:12 pm

Sri Lanka’s vehicle importers want two categories as ‘Brand New’ and ‘Used’

However much Sri Lanka’s vehicle importers have appealed to the Finance Minister to reduce the duties imposed on hybrid vehicles through the interim budget, the Minister has not heeded their requests, said Sri Lanka Motor Vehicle Importers’ Association president Indika Sampath Merinchige. Merinchige told www.adaderanabiz.lk that the Minister has not responded to their requests for…

(0)Comments | February 24, 2015 2:02 pm

Sri Lanka Central Bank’s latest policy interest rate amid rising inflation

Though prices of consumer goods have increased creating more pressure on the Rupee with the new government’s tax reductions and increase in the salaries of government employees through its interim budget, the Central Bank of Sri Lanka (CBSL) has decided not to revise the policy interest rates that decide the interest rates of commercial banks…

(0)Comments | February 24, 2015 1:09 pm

This Mexican town is the sex trafficking capital of the world

Two hours southeast of Mexico City lies a town where forced prostitution is not only the norm, but a booming business that employs most of the city’s 10,000 residents. Tenancingo, Mexico, widely considered the sex trafficking capital of the world, is the single largest source of sex slaves sent to the US, according to the…

(0)Comments | February 24, 2015 1:08 pm

Crown’s VIP strength ‘positive surprise’: JP Morgan

Australian casino company Crown Resorts Ltd reported net profit of AUD201.8 million (US$157.5 million) for its fiscal year first half, down 47.2 percent year-on-year. The result was pulled back by writedowns on international projects, including in Sri Lanka, and a slide in earnings from Macau casino operator Melco Crown Entertainment Ltd (MCE). Weak market conditions…

(0)Comments | February 24, 2015 11:35 am

EXCLUSIVE: Moves to cancel local contracts already offered for Sri Lanka’s Northern Expressway

The former government has selected local contractors for the Northern Expressway project, considered the largest such projects in Sri Lanka, not on a competitive and open basis and hence action would be taken to cancel these contracts, Deputy Minister of Highways and Investment Promotion Eran Wickramaratne told www.adaderanabiz.lk. The Minister said that when the suspended…

(0)Comments | February 23, 2015 6:17 pm

Sri Lanka's China Dilemma

One year ago, Chinese Third World diplomacy was widely seen as being in crisis. Throughout Africa, Latin America and Asia, a growing number of emerging countries were expressing reluctance to be involved in relations with the Middle Kingdom based on its exploitation of their mineral resource riches. This sense of unease and even outright resistance…

(0)Comments | February 23, 2015 6:16 pm

Stock Market Review – 23rd Feb 2015

Colombo equity market started the weekly operations on a mixed note where All Share index managed to maintain the positive momentum gained in the last session. Main index bagged 11.40 index points or 0.16% to close at 7,326.31 while 20-scrip S&P SL index marginally declined by 5.52 index points (-0.13%) to end at 4,127.49. Price…

(0)Comments | February 23, 2015 6:03 pm