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World’s top ICT economy in rare opening for Lankan start-ups

In a major renewal of its economic cooperation with Sri Lanka, World’s ICT innovation leader has announced that it is ready to form a joint Business Council with Sri Lanka for the first time, as revealed on 04 December-and Lankan ICT start-ups have received a breakthrough invitation to showcase themselves at one of world’s top-tier…

(0)Comments | December 11, 2014 2:40 pm

Union Assurance PLC demerges, incorporates separate entity for General Insurance

Union Assurance PLC has been demerged and will continue to carry on its long term insurance business while its General Insurance will be undertaken by Union Assurance General Limited with its registered offices at No. 20, St. Michael’s Road, Colombo 3. This is following the demerger of the General Insurance business from the Life Insurance…

(0)Comments | December 11, 2014 2:07 pm

Yen continues its gains against dollar

The yen extended its gains against the US dollar for the third day in a row to hit its strongest level in more than a week, amid risk aversion as global equity markets continued to fall. The dollar fell nearly 1 per cent to trade below Y119 against the Japanese currency after touching a seven-year…

(0)Comments | December 11, 2014 1:49 pm

Oil hits five-year low on Opec report and US concerns

The price of oil has fallen to fresh five-year lows in the wake of two separate reports indicating a global supply glut. Opec oil producers released a forecast indicating less global oil demand next year. A separate US report, which showed a surprise increase in the country’s crude oil supplies, also pushed prices lower. The…

(0)Comments | December 11, 2014 9:42 am

Stock Market Review – 10th Dec 2014

Colombo stock market managed to rebound on Wednesday amid Treasury bill yields declining further in today’s auction. Core index bagged 36.34 index points or 0.50% to end at 7,254.28 and 20-scrip S&P SL index gained 19.71 index points (0.49%) to close at 4,083.41. Price appreciations in counters such as John Keells Holdings (closed at LKR…

(0)Comments | December 10, 2014 5:17 pm

Will European ban on fisheries effect Sri Lanka? – Video Interview

The European Union which buys around 50 per cent of Sri Lanka’s fishery exports recently imposed a ban on the import of fishery products from the island. Though this ban is to be effective from 15 January 2015, Sri Lanka still has an opportunity to avoid this. However, Sri Lanka has to take several tangible…

(0)Comments | December 10, 2014 2:52 pm

Most fascinating SUV of 2014: Toyota 4Runner TRD Pro

In 2015, Toyota will begin shipping hydrogen-powered vehicles to select US showrooms.The 4Runner TRD Pro will not be among them. Notwithstanding the Japan-only Toyota Land Cruiser 70 Series Anniversary Edition – a paragon of circa-1984 off-roading aesthetics and technology – there may be no more retrograde a vehicle introduced in 2014 than this special-edition SUV….

(0)Comments | December 10, 2014 2:39 pm

Low interest rates for Green Buildings in Sri Lanka

Plans are afoot to provide loans at low interest rates for those building eco-friendly ‘Green Houses’ says Ceylon Institute of Builders (CIOB) Chairman Dr. Rohan Karunaratne. During a special discussion with he added that discussions are ongoing with several banks in this regard. He pointed out that construction of environment friendly Green Buildings is…

(0)Comments | December 10, 2014 11:53 am

Jan-Oct exports surge to $9B

Sri Lanka’s January – October YoY exports have surged by almost 9% while an export product that recently faced volatile EU markets showed a promising turnaround, as revealed on 09 December. “For the month of October 2014 alone our provisional exports were at $ 900 Mn- and this is only merchandise exports without taking into…

(0)Comments | December 10, 2014 10:19 am

New opportunity for Sri Lanka: Colombo hospitals ready for Medical Tourism – VIDEO INTERVIEW

Several prominent private hospitals in Colombo are preparing to attract tourists for healthcare or Medical Tourism. While commenting on this latest opportunity which brings together two sectors, tourism and healthcare, Chief Executive Officer of Lanka Hospitals Dr. Lakieth Pieris said that Lanka Hospitals too was making preparations for this. The exclusive interview BIZ 24X7 of…

(0)Comments | December 9, 2014 4:26 pm