The Sri Lankan Rupee is not under any pressure, said Finance Minister Ravi Karunanayake at a media briefing at the ministry this morning (25 February) when the media asked him whether the local currency has depreciated recently and whether it is under pressure. “The Rupee is not under any pressure. But a certain section is…
What is wrong with a Buddhist monk being in a company’s Board of Directors, questioned Finance Minister Ravi Karunanayake at a media briefing at the ministry this morning (25 February). He was responding to a question from the media on the appointment of a Buddhist monk, Venerable Theeniyawala Palitha Thera to the Board of Directors…
Power and Energy Minister Patali Champika Ranawaka who was also a onetime Environment Minister says that the duty increase on hybrid vehicles in the new government’s interim budget is due to a mistake. The Minister has reportedly stated this while speaking to the Sri Lanka’s Foreign Correspondents’ Association. During his tenure as Environment Minister, Champika…
Sri Lanka’s Access Engineering PLC has registered a branch office within the Free Zone of the Republic of Djibouti under the operating name of Access Engineering PLC East Africa Branch. The company has been authorized to carry out general trading activities, except retain sales in markets within and outside Djibouti. Access Engineering PLC East Africa…
ROME (Thomson Reuters Foundation) – Floods and landslides linked to climate change have battered parts of Sri Lanka in the past two years, disrupting food output, but scientists believe a new program to install low-cost weather stations based on open-source technology could help farmers adapt to increasingly wild weather. New Mobile Weather Stations, made mainly…
Colombo bourse edged lower on Tuesday as the main index lost 15.02 points or 0.21% to end at 7,311.29 while S&P SL 20 index lost 15.94 points (-0.39%) to end at 4,111.55. Today’s losses were mainly driven by the blue-chip counters such as Ceylon Tobacco (closed at LKR 1,030.00, -1.9%), Lanka Orix Leasing Company (closed…
However much Sri Lanka’s vehicle importers have appealed to the Finance Minister to reduce the duties imposed on hybrid vehicles through the interim budget, the Minister has not heeded their requests, said Sri Lanka Motor Vehicle Importers’ Association president Indika Sampath Merinchige. Merinchige told www.adaderanabiz.lk that the Minister has not responded to their requests for…
Though prices of consumer goods have increased creating more pressure on the Rupee with the new government’s tax reductions and increase in the salaries of government employees through its interim budget, the Central Bank of Sri Lanka (CBSL) has decided not to revise the policy interest rates that decide the interest rates of commercial banks…
Two hours southeast of Mexico City lies a town where forced prostitution is not only the norm, but a booming business that employs most of the city’s 10,000 residents. Tenancingo, Mexico, widely considered the sex trafficking capital of the world, is the single largest source of sex slaves sent to the US, according to the…
Australian casino company Crown Resorts Ltd reported net profit of AUD201.8 million (US$157.5 million) for its fiscal year first half, down 47.2 percent year-on-year. The result was pulled back by writedowns on international projects, including in Sri Lanka, and a slide in earnings from Macau casino operator Melco Crown Entertainment Ltd (MCE). Weak market conditions…
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