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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

Pathfinder Foundation Election Myth Buster #3- Should the Government be the ‘employer of first resort’?

Politicising youth employment In the early years after independence, it was generally accepted that the government’s role was limited to providing defence, national security, revenue collection and a few other basic services. In sectors such as education and health, employment was provided both by the government and the private sector. From the late 1950s a…

(0)Comments | August 4, 2015 3:21 pm

Explore more of the Americas with Emirates’ Pass

Emirates passengers looking to explore beyond the airline’s network of American destinations now have dozens of options with the Americas Pass. With one combined ticket, travellers flying to any of Emirates’ 10 US destinations can connect to over 90 cities across the USA, Canada and Latin America through Emirates’ five partner airlines: Jet Blue, Alaska…

(0)Comments | August 4, 2015 12:57 pm

Extending careers beyond retirement through flexible working

By Dr. Nirmal De Silva It is widely-known that population ageing is a global phenomenon, with the number of people aged 65 years and above expected to grow significantly across Asia in the coming years and decades. According to latest research carried out by Regus, the global workplace provider, it has been revealed that 84%…

(0)Comments | August 4, 2015 12:51 pm

Johannesburg Stock Exchange selects MillenniumIT trading solutions to streamline technology infrastructure

MillenniumIT, the provider of ultra-low latency, agile and resilient capital markets solutions and part of London Stock Exchange Group, today announced that Johannesburg Stock Exchange has selected MillenniumIT to provide the technology for its derivatives and fixed income markets. The move will extend JSE’s use of MillenniumIT’s next generation integration platform (MAP™), the Millennium Exchange™…

(0)Comments | August 3, 2015 9:59 pm

Sunshine Holdings powers Sri Lanka Economic Summit as Platinum Sponsor

Diversified conglomerate Sunshine Holdings PLC will support this year’s edition of the country’s premier economic summit hosted by the Ceylon Chamber of Commerce (CCC), on the timely theme of ‘Towards exports of USD 50 billion’, as the Platinum Sponsor.  The high-level annual forum brings together ‘thought leaders’ – policymakers, top local and foreign academics, corporate…

(0)Comments | August 3, 2015 9:09 pm

Haycarb records turnover of Rs. 2.9 billion and profit before tax of Rs. 220 million for Q1 2015/16

The Sri Lankan multinational Haycarb PLC reported revenue of Rs. 2.9 billion, and profit before tax of Rs. 220 million for the first quarter of 2015/16.The profit after tax was Rs. 191 million.  Haycarb PLC Managing Director Mr. Rajitha Kariyawasan said that the downturn in the gold mining industry coupled with significant depreciation of currencies…

(0)Comments | August 3, 2015 8:05 pm

Colombo Stock Exchange delists Orient Finance

The Colombo Stock Exchange has delisted Orient Finance PLC from its official listing with effect from end of trading on 30 July 2015. The debentures issued by Orient Finance PLC before its amalgamation with Bartleets Finance PLC will remain listed until maturity under the same code ‘ORIN’ under the name of ‘Bartleets Finance PLC’.

(0)Comments | August 3, 2015 7:05 pm