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USD 800 million loan to improve roads in 1,000 villages

The government is to obtain a loan of US Dollars 800 million from the Asian Development Bank to develop identified rural roads within the Southern, Sabaragamuwa, Central, North Central, North Western Provinces and the Kalutara District in the Western Province. The government says 1,000 villages would be chosen under this project and steps would be…

(0)Comments | July 4, 2014 4:05 pm

Systematic bribery at GlaxoSmithKline China ‘credible’ – investigator

Allegations that pharmaceutical giant GlaxoSmithKline (GSK) systematically bribed doctors in China are credible, says an investigator hired by the firm. Peter Humphrey was hired only to investigate who was behind a suspected smear campaign against GSK. But after he finished his report, he learned the details of further allegations against the firm and told colleagues…

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

Norochcholai ash to be sold

The government is preparing to sell the fly ash generated at the Norochcholai coal power plant to five companies. The government says that the currently functioning unit at this power plant and the unit expected to be operational in September would generate some 150,000 tons of fly ash annually. This fly ash can be used…

(0)Comments | July 4, 2014 10:50 am

Dialogue between Xinhua News Agency and the Sri Lankan Media

On 2nd July, 2014 the Lakshman Kadirgamar Institute for International Relations and Strategic Studies hosted a dialogue between the Xinhua News Agency from the People’s Republic of China, and the Sri Lankan media. This dialogue was an opportunity to initiate conversation between the Xinhua news organization and local media personnel in order to facilitate mutually beneficial collaboration. Mr. Asanga Abeygoonasekera,…

(0)Comments | July 4, 2014 10:48 am

Lee Hedges proposes investment projects in north

Lee Hedges PLC has proposed setting up of an Apparel Training Centre in Jaffna at an estimated cost of Rs. 62 million. This is a Social Responsibility Project by the company to uplift the living condition of the community in the Northern Province by providing training in the apparel sector for better employment opportunities. The…

(0)Comments | July 3, 2014 9:41 pm

IFC Bank chief to Commercial Bank’s board of directors

The World Bank subsidiary International Finance Corporation’s head of the banking unit and prominent banking specialist Hakan John Wilson has been appointed a member of the board of directors of the Commercial Bank with immediate effect. He has been thus appointed a non-executive director of the Commercial Bank. He has been serving the World Bank…

(0)Comments | July 3, 2014 9:25 pm

Ranjith Rubasinghe appointed CEO of Mobitel

Ranjith G. Rubasinghe was appointed as the Chief Executive Officer of Sri Lanka Telecom Mobitel with effect from June 27, 2014. Rubasinghe brings with him a wealth of experience in the fields of telecommunications and IT in several national and multinational organisations, including Sri Lanka Telecom for 12 years.  He is a Chartered Engineer, Representative…

(0)Comments | July 3, 2014 6:52 pm

Stock Market Review – 03rd July 2014

Colombo stock market managed to maintain the momentum gained on previous trading sessions where both indices witnessed positive returns. Main bourse gained 34.76 index points (+0.54%) to close at 6,467.28 while S&P SL20 index gained 30.48 index points (+0.85%) to end at 3,608.42. Price appreciations in equities such as Ceylon Tobacco Company (closed at LKR…

(0)Comments | July 3, 2014 5:25 pm

Is this the most secure smartphone in the world?

The answer that question is: probably. The Blackphone has been designed first and foremost to protect the owner’s privacy as data security becomes increasingly important to consumers amid NSA spying revelations and data hacking concerns. Priced at $629, the smartphone runs ProvatOS, an Android-based operating system and has features which optimises the phone’s security. These include a…

(0)Comments | July 3, 2014 5:06 pm

India hikes minimum export price of onions by 67 percent

The government on Wednesday hiked the minimum export price of onions by 67 percent to $500 per tonne in a bid to discourage exports and improve local supplies as its prices surged in domestic markets. After the increase, the minimum export price of onions translates to Rs.30 per kg. Onion prices have soared in the…

(0)Comments | July 3, 2014 1:37 pm