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World Cup: Prostitutes in Brazil report business hasn’t picked up during tournament

It would seem to be the most common sense conclusion: Hundreds of thousands of tourists, overwhelmingly male, come to the famously sensual city of Rio de Janeiro, where the women wear tiny bikinis and prostitution is legal. Sex work, therefore, must be booming during the World Cup. A team of academic researchers, including men and…

(0)Comments | July 10, 2014 4:35 pm

2Q14 Capital Markets Revenue Expected Lower for US GTUBs

Capital market revenues for US global trading and universal banks (GTUBs) will be lower year over year when large banks kick off 2Q reporting on July 11, predicts Fitch Ratings, with continued fixed income, currency and commodities (FICC) declines outpacing improving equity capital markets business and M&A. While some GTUBs have publicly telegraphed this potential…

(0)Comments | July 10, 2014 4:04 pm

Top rung changes at Finlays Colombo

The current Managing Director of the long standing Finlays Colombo PLC is to resign on 14 July and a new Managing Director has been appointed to replace him. Finlays Colombo PLC says current Managing Director Samuel Compton Swire would resign while Alexander Christian Nicolas Johansen would replace him. After his resignation Samuel Compton Swire would…

(0)Comments | July 10, 2014 1:49 pm

Laugfs introduces EGI Hybrid Technology in Sri Lanka

EGI Hybrid Center, a subsidiary of Laugfs Holdings Limited recently announced the latest EGI Hybrid Technology to the booming Sri Lankan automotive industry. In a bid to transform Sri Lanka’s energy consumption, EGI Hybrid brings the latest, tested, recommended and used transport fuel to local consumers.  Speaking on the introduction of EGI Technology in Sri…

(0)Comments | July 10, 2014 1:05 pm

Ratnapura expressway from Ingiriya to Gelanigama interchange

The proposed Ratnapura expressway is to be constructed between Pelmadulla to Ingiriya and it would be connected to the Southern expressway’s Gelanigama interchange through the existing highway at Ingiriya, said Ports and Highways Deputy Minister Nirmala Kothalawala. “The Ratnapura expressway will be from Ingiriya to Pelmadulla. For this we have identified areas with state and…

(0)Comments | July 10, 2014 12:17 pm

Latest 42-outlet shopping complex in Colombo 7

The renovations to the former Auditor General’s Department building at Independence Square in Colombo 7 have been completed now. This building now converted into a shopping complex with 42 outlets will be declared open by President Mahinda Rajapaksa on Sunday 13 July, said the Urban Development Authority (UDA) chairman. All these 42 shops within this…

(0)Comments | July 10, 2014 12:16 pm

Malaysian representatives on Odel board of directors

Malaysia’s Parkson Retail Asia Limited has appointed three directors to Sri Lanka’s prominent fashion apparel chain Odel PLC to represent their share interests. Parkson Retail Asia’s Y. Bhg. Datuk Lee Kok Leong, Tiang Chee Sung and Ms. Wong Siew Chuan have been appointed as non-executive directors of Odel PLC with effect from 04 July, 2014….

(0)Comments | July 10, 2014 5:49 am

Air New Zealand replaces ‘sexist’ safety flight video

An in-flight Air New Zealand safety video, which had been branded sexist, has been replaced. The film featured models dressed in bikinis demonstrating safety procedures with airline equipment. Australian Natasha Young began a Change.org petition which called on the airline to stop using the video. “This video completely disregards passengers who find it offensive,” she…

(0)Comments | July 10, 2014 5:48 am

Stock Market Review – 09th July 2014

Colombo shares ended with notable gains on Wednesday as All share Price index improved by 48.03 points or 0.73% to close at 6,613.84 and S&P SL20 index improved by 29.95 points or 0.81% to close at 3,706.06. The gains were mainly underpinned by price progressions in Sri Lanka Telecom (closed at LKR 51.40, +3.8%), John…

(0)Comments | July 9, 2014 5:59 pm

Another Debenture Issue to be listed

The Colombo Stock Exchange has allowed a Debenture Issue to be listed by Dunamis Capital PLC and it is to open on 28 July. Dunamis Capital PLC is to list 10 million debentures at a redeemable price of Rs. 100 each. First Capital Limited are the managers to the issue.

(0)Comments | July 9, 2014 4:12 pm