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‘China’s Google’ builds self-driving car

Proving that Google does not have a monopoly on the future of personal mobility, Chinese search engine Baidu could overtake its US counterpart with its own take on the autonomous car. Speaking with The Next Web, the head of the company’s Institute of Deep Learning — think Baidu’s version of Google’s X lab — Kai…

(0)Comments | July 30, 2014 1:26 pm

BOI signs an Investment agreement with Union Resort & Spa Ltd

Recent economic growth, infrastructural development and an overall rise in tourism to the island has also seen a host of ambitious new projects, which will cater to these new arrivals and the projected boom in tourism.  Union Resorts & Spa Ltd now embark on an innovative and ambitious new venture, titled Water Gardens, after the…

(0)Comments | July 29, 2014 11:31 am

Robot furniture that builds itself

Imagine that the chair you’re sitting on became a sofa on demand as the day moved from light to dark. Or if all your furnishings could move out of your way as you walk through a room. These thoughts could one day become reality through research being conducted at the Swiss Federal Institute of Technology…

(0)Comments | July 29, 2014 10:11 am

Samsung postpones launch of Tizen smartphone

Samsung Electronics Co. said Monday it is delaying sales of its first Tizen-powered smartphone in the latest setback to the company’s ambition to create a mobile platform to rival Google’s Android or Apple’s iOS. The South Korean company had planned to start selling the phone, the Samsung Z, in Russia this quarter. But Samsung indicated…

(0)Comments | July 29, 2014 9:26 am

Dheerasinghe heads Commercial Bank with Jayawardena as Deputy

K.G.D.D. Dheerasinghe, an eminent economist with a distinguished career of over 37 years in the banking sector has been appointed Chairman of the Commercial Bank of Ceylon with effect from tomorrow (29 July 2014). Meanwhile, M.P. Jayawardena, a Fellow of the Institute of Chartered Accountants of Sri Lanka and counting nearly 35 years of post…

(0)Comments | July 28, 2014 9:33 pm

Dunamis Capital Debenture Issue oversubscribed, closes today

The issue of 10 million Rated, Senior, Unsecured Redeemable Debentures at Rs. 100 each by Dunamis Capital PLC to the value of Rupees of One Billion has been oversubscribed. Accordingly, the issue closes at 4.30 pm today (28 July) while entertaining the applications received till such time.

(0)Comments | July 28, 2014 1:07 pm

2015 Toyota Yaris debuts as Euro-styled entry level sedan -video

The 2015 Toyota Yaris has debuted with a new European-themed design, several new additional interior and exterior features and a manufacturer’s suggested retail price range from $14,485 to $17,620. The price range extends from three-door L with a manual transmission ($14,485) to the five-door SE with a four-speed automatic ($17,620). Like like the previous-generations, the…

(0)Comments | July 28, 2014 11:26 am

Redington Global buys further into PCH Holdings

Redington Global (Private) Limited has purchased 27,241,525 shares of PCH Holdings PLC today (25 July). Prior to this purchase Redington Global (Private) Limited held 17,887,884 shares of PCH Holdings and has now acquired 17.9 percent of the issued capital of PCH Holdings PLC.

(0)Comments | July 25, 2014 10:42 pm

Dinesh Weerakkody relinquishes office as Commercial Bank Director/Chairman

Commercial Bank of Ceylon PLC Chairman Dinesh Stephan Weerakkody will relinquish office as Director/Chairman on 20 July 2014 after completing nine years as a Director of the bank. Mr. Weerakkody was appointed to the Board of Commercial Bank of Ceylon in July 2005. He was appointed Deputy Chairman in August 2011 and as the seventh…

(0)Comments | July 25, 2014 10:25 pm

Stock Market Review – 25th July 2014

Colombo stock market wrapped its weekly operations on a mixed note where main bourse marginally advanced by 2.24 index points or 0.03% to end at 6,783.64. 20-scrip S&P SL index declined 2.30 index points or 0.06% to close at 3,764.90. Price appreciations in counters such as Distilleries (closed at LKR 206.00, +1.5%), Overseas Realty (closed…

(0)Comments | July 25, 2014 7:41 pm

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