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Oil prices volatile after Opec maintains output level

Crude oil prices were volatile after ministers from the Opec cartel decided to hold production levels at 30 million barrels per day. Brent crude traded in a narrow range around $62 a barrel, before ending the day up 1.8% at $63.15. West Texas Intermediate, or light sweet crude, was similarly indecisive, falling before recovering to…

(0)Comments | June 7, 2015 9:18 am

Emirates Skywards gives members 15 million reasons to travel

Emirates Skywards, the award winning frequent flyer programme, will celebrate its 15th anniversary this year by giving 15 lucky members the chance to win one million Skywards Miles each. Emirates Skywards Members in select markets who travel to any Emirates destination during the promotional period (29 May and 31 December 2015), and answer three multiple…

(0)Comments | June 7, 2015 9:14 am

Colombo stocks wrap weekly operations on optimistic note

Colombo bourse wrapped the weekly operations on optimistic note despite the lackluster trading session. Main index managed to record positive gains on Friday snapping the four day losing streak where index advanced by 1.82 points or 0.03% to close at 7,122.73 . S&P SL20 index bagged 18.14 index points (+0.46%) to end at 3,963.68. Price…

(0)Comments | June 5, 2015 5:42 pm

To slash petrol sales by half or not, LIOC chief responds

The rumors being spread that Lanka Indian Oil Company (LIOC) is planning to slash its petrol sales in Sri Lanka is baseless and the company would continue supplying petrol to its fuel outlets without any shortages, said LIOC Managing Director Subodh Dakwale. While speaking to, LIOC Managing Director Subodh Dakwale said that LIOC had…

(0)Comments | June 5, 2015 3:56 pm

SEC restrains Lanka Rating Agency from providing new ratings

The Securities & Exchange Commission of Sri Lanka has taken steps to restrain Lanka Rating Agency Limited from providing new ratings with effect from 25 March 2015.

(0)Comments | June 5, 2015 10:08 am

Global Payments enables MasterCard Credit and Debit Card acceptance for CEB

Global Payments Inc. (NYSE: GPN), a leading worldwide provider of payment technology services, announced today that its Sri Lankan subsidiary, Global Payments Asia Pacific Lanka Pvt Ltd. (Global Sri Lanka), has entered into an agreement with Ceylon Electricity Board (CEB), Sri Lanka’s largest electricity provider, and MasterCard to enable consumers to pay electricity bills using…

(0)Comments | June 4, 2015 11:54 pm

Colombo stocks witness a sluggish trading

Colombo bourse witnessed a sluggish trading session on Thursday, continuing the negative momentum for the fourth consecutive day to close in red zone. The main index weakened further falling to a 6-week low of 7,120.91 with a drop of 28.55 index points or -0.40% while 20-script S&P SL20 index dropped by 15.48 points (-0.39%) to…

(0)Comments | June 4, 2015 6:55 pm

Casino Ban Fails to Deter Developer’s Postwar Sri Lanka Plan

A ban on casinos by Sri Lanka’s new government isn’t stopping the nation’s biggest conglomerate from pressing ahead with a $850 million development project as the island rebuilds from a 30-year civil war. Lenders are fully committed to John Keells Holdings Plc.’s Waterfront Properties mixed development project in Colombo though the absence of a casino…

(0)Comments | June 4, 2015 2:04 pm

Colombo Fastest Growing City in the MasterCard Global Destination Cities Index

* Five Asian cities – Bangkok, Singapore, Kuala Lumpur, Seoul and Hong Kong – make it into the Global Destination Cities Index top ten.  Colombo leads the pack as the fastest growing city in terms of international, overnight visitor numbers in the annual MasterCard Global Destinations Cities Index. The rapid rise in tourism after the…

(0)Comments | June 4, 2015 12:29 pm

Altair designer Moshe Safdie receives America’s highest architectural honour

Moshe Safdie, the architect of Sri Lanka’s Altair high-rise luxury residential development, has been honoured with the 2015 Gold Medal of the American Institute of Architects (AIA), the Institute’s highest honour, for his contribution to global architecture. Announcing the award, presented at the 2015 AIA Convention in Atlanta in May, Altair promoter Indocean Developers said…

(0)Comments | June 4, 2015 11:15 am