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Elon Musk wants clean power. But Tesla’s carrying bitcoin’s dirty baggage

LONDON (Reuters) – Tesla boss Elon Musk is a poster child of low-carbon technology. Yet the electric carmaker’s backing of bitcoin this week could turbo-charge global use of a currency that’s estimated to cause more pollution than a small country every year. Tesla Inc revealed on Monday it had bought $1.5 billion of bitcoin and…

(0)Comments | February 11, 2021 9:49 am

SLT Group’s Operating Profit for 4th Quarter 2020 grew by 27% QoQ-2019, Revenue Recorded at Rs. 24 Bn

  Group profit after tax increased by 25% YoY Group revenue grew by 6% YoY mainly due to the surge in broadband revenue Capex expenditure investment of 14.5 Bn, FY 2020 Direct and indirect taxes including levies totaling Rs. 17.1 Bn was paid to the Government of Sri Lanka (“Government”), FY 2020 Sri Lanka Telecom…

(0)Comments | February 11, 2021 12:30 am

Sri Lanka@100 to Help Accelerate the Expansion of Seven Mid-Market Firms with U.S. Support

Funded by the United States, Sri Lanka@100 (SL@100) selected its first round of seven high-potential companies to receive cutting-edge business advisory services to accelerate their growth. SL@100, a private sector-led platform focused on the growth of mid-sized firm, will equip the seven companies with skills to optimize operations, increase profitability, and expand markets. “These seven…

(0)Comments | February 10, 2021 3:11 pm

Global Study: People Trust Robots More Than Themselves with Money

Research shows growing confidence among consumers and business leaders that robots handle finance tasks better than people 2020 has changed our relationship with money and people now trust robots more than themselves to manage their finances, according to a new study by Oracle and personal finance expert Farnoosh Torabi. The study of more than 9,000…

(0)Comments | February 10, 2021 2:44 pm

GLOBAL MARKETS-Stocks, oil rise in Asia after U.S. records, dollar weakens

Feb 9 (Reuters) – Asian stock markets rose on Tuesday after a record-setting day on Wall Street, while bitcoin paused for breath after an overnight endorsement from Tesla Inc sent the cryptocurrency up 20%. Oil also hit 13-month highs, helped by rising optimism about a return in fuel demand, However, in a sign that positive…

(0)Comments | February 9, 2021 5:55 pm

BMICH and SriLankan Airlines in agreement to help sustain MICE tourism

SriLankan Airlines together with the country’s premier meeting, events, and function hosting venue BMICH, have come together to promote MICE tourism in Sri Lanka. This agreement between two pioneers in their respective fields will serve to reinforce the positioning of Sri Lanka as a key MICE destination in the future. Sri Lanka’s premium venue for…

(0)Comments | February 9, 2021 4:04 pm

Fitch Rates Sampath Bank’s LKR6 Billion Basel III Subordinated Debt ‘A(lka)(EXP)’

Fitch Ratings Lanka has assigned Sampath Bank PLC’s (AA-(lka)/Stable) proposed LKR6 billion Basel III-compliant subordinated unsecured debentures an expected National Long-Term Rating of ‘A(lka)(EXP)’. The proposed debentures will mature in seven years and will be listed on the Colombo Stock Exchange. The bank expects the proposed subordinated debentures to qualify as Basel III-compliant regulatory Tier…

(0)Comments | February 9, 2021 3:17 pm

Sampath Bank Partners with John Keells Properties’ TRI-ZEN on Home Financing Solutions

Sampath Bank PLC entered into a strategic alliance with TRI-ZEN, a premium smart living project being developed in Union Place, Colombo by John Keells Properties in partnership with Indra Traders that shares the Bank’s penchant for innovation. Building on its longstanding relationship with the John Keells Group and Indra Traders, Sampath Bank seeks to partner…

(0)Comments | February 9, 2021 11:33 am

Global oil prices reach pre-pandemic levels at a one-year high

Oil prices made their biggest weekly gain this year, reaching pre-pandemic levels at a one-year high. The price of Brent crude is about to breach the important psychological mark of $60, closing the week at $59.34 per barrel. The price of West Texas Intermediate (WTI) crude closed the week at $56.85 per barrel. The declining…

(0)Comments | February 8, 2021 12:20 pm

Sri Lankan All Share Price Index continues to be the best performing primary index globally in 2021

The All Share Price Index (ASPI) has retained its position as the best performing primary stock market index in the world with the index closing trading on 5th February 2021 at 8,275.37 points, marking a 22.16% growth year-to-date (YTD). According to CSE research, the ASPI as at 5th February 2021 has recorded greater percentage growth…

(0)Comments | February 8, 2021 7:59 am