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Sri Lanka ships close to 3 million mobile handsets in CY 2013

COLOMBO, SRI LANKA & GURGAON, INDIA: The Sri Lanka mobile phones market recorded sales (unit shipments) of over 0.8 million units in 4Q (October-December) 2013. This was reported in the Sri Lanka Mobile Handsets Market Review, 4Q 2013, March 2014 release published today by premier IT, Telecoms, Semiconductor & Electronics, Government & Public Sector and…

(0)Comments | March 27, 2014 9:59 am

New Maruti Suzuki cars to be launched in 2014

With new cars coming every now-and-then, competition in the Indian automobile industry is getting fierce and Maruti Suzuki India, being the biggest market shareholder, is on everyone’s target. Maruti’s current market share has fallen over the years owing to stiff competition and maturing purchase decisions of the consumers. It is now close to 50% while…

(0)Comments | March 27, 2014 8:41 am

400 Million People Victims of Cybercrime Every Year

A study done by Microsoft in South East Asia on computers using pirated software show a 69% malware infection rate.  The Software Company has found that firewall rules had been changed in 97% ofcomputers and 15% of DVDs, posing a definite threat to unsuspecting consumers. Keshav Dhakad, Regional Director of IP and Cybercrime, Microsoft Asia-Pacific…

(0)Comments | March 27, 2014 8:40 am

Waskaduwa Beach Resort ceremonially opens on April 6

Waskaduwa Beach Resort is to ceremonially open a 150 room luxury beach resort at Waskaduwa on 06 April. The company has informed this to the Colombo Stock Exchange. Waskaduwa Beach Resort is a subsidiary of Citrus Leisure.

(0)Comments | March 27, 2014 5:15 am

Facebook buys virtual reality headset start-up for $2bn

Facebook has announced it will buy Oculus VR, a Californian company which specialises in virtual reality products, for around $2bn (£1.2bn). The start-up’s flagship product, the Oculus Rift, is a goggle-like “immersive” headset for video gaming. It was developed with funds raised through crowdfunding site Kickstarter, and subsequent investment. Facebook’s boss, Mark Zuckerberg, said Oculus’…

(0)Comments | March 26, 2014 6:17 pm

Stock Market Review

Colombo shares concluded with mixed results on Wednesday where main share index marginally declined despite relatively active trading session. All Share Price Index dropped 1.81 index points (-0.03%) to close at 5,950.97 while 20-scrip S&P SL index gained marginally by 4.56 index points (+0.14%) to close at 3,261.05. Price depreciations in index heavy counters such…

(0)Comments | March 26, 2014 12:50 pm

Rs. 3 billion debentures from Richard Pieris & Company

Richard Pieris & Company has decided to issue thirty million (30,000,000) Rated, Unsecured, Redeemable, Debentures with a value of Rs. 03 billion with the option of increasing the size up to thirty five million (35,000,000) Rated, Unsecured, Redeemable, Debentures with a total value of Rs. Three billion and five hundred million.

(0)Comments | March 26, 2014 12:11 pm

UDA offering office complexes at ultra modern Kottawa expressway city

The Urban Development Authority (UDA) has decided to offer opportunities to the government and private sectors to establish office complexes of over 10 stories within the proposed ultra modern Kottawa expressway city near the interchange to the Southern Expressway. The UDA has prepared to reserve land to an extent of five acres for this purpose….

(0)Comments | March 26, 2014 8:47 am

Businessman accused of paying dividends to Dulanjalee in fake notes

Sources have revealed that a garment businessman named Rolick Augustus Krishantha Perera had allegedly given the forged Rs.5000 notes worth Rs.2 million to UNP MP Sajith Premadasa’s sister Dulanjalee Premadasa. Apart from the Rs. 2 million which Dulanjalee attempted to deposit at a private bank in Colombo 7, police found 471 Rs.5000 notes at his…

(0)Comments | March 26, 2014 8:46 am

The better way to foil forged Rs. 5000 note racket

The better way to minimize the printing of forged currency notes is to raise awareness among the public on ways to identify such currency notes, an official of the Sri Lanka Central Bank’s Currency Department told AdaderanaBiz. She made this comment in response to the questions regarding the incident where the Rs. 5,000 currency notes…

(0)Comments | March 26, 2014 6:32 am