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DE-CIX, the world’s largest internet exchange, located in Frankfurt am Main (Germany), has achieved a new data throughput record: Internet traffic at DE-CIX exceeded the two Tbit/s (terabits per second) mark for the first time ever. More than 480 internet service providers from over 50 countries are currently connected to the internet exchange, bringing the ...
The hearing of the alleged breach of the Mergers and Acquisition Code by Melstacorp Ltd., over Lanka Milk Foods (LMF) was taken up at the Magistrate’s Court on Friday 21 September. Defence Counsel C.R. De Silva, President’s Counsel, appearing on behalf of the defendant company, took up objection that the Mergers and Acquisitions code was ...
Previously observed proceedings of Sri Lanka’s Fonseka and Malaysia’s Anwar Ibrahim Here to observe proceedings re Rishad Bathiudeen M.P. Acted as Counsel on world’s longest sea chase incident FV Viarsa 1 The Inter Parliamentary Union (IPU) observer, Australian Queen’s Counsel Mark Trowell has arrived in Sri Lanka today morning. “I am here on behalf ...
The second Investor Day of Insight into Investing, the islandwide investor awareness program by the Colombo Stock Exchange (CSE) was launched in Hambantota on Thursday 20 September, amidst many eager investors. The second Investor Day was held in Hambantota conforming to the periphery awareness aspect of the program. Hambantota has been made a focal point ...
Reuters: Anurag Basu’s “Barfi!”, a Bollywood love story about a deaf-and-mute man and his autistic friend has been chosen as India’s entry to the Academy Awards in the best foreign language film category, the Film Federation of India (FFI) said on Saturday. “Barfi!” opened to rave reviews in September despite its unusual theme in an ...
Etihad Airways may pick up a minority stake in India’s Jet Airways after the government liberalised rules for foreign ownership, it has been reported. Shares in Jet Airways surged on Thursday on reports that it was in talks with the Abu Dhabi flag carrier over a possible deal. Media reports suggested Etihad was interested in ...
Reuters: A plan to buy 100 Airbus aircraft will be submitted to the board of Asia’s largest budget carrier, AirAsia Bhd, in about two weeks, the airline’s CEO, Tony Fernandes, said on Friday, in a deal that could be worth $9 billion. He also said he had no immediate plans to enter the Indian market ...
NEW DELHI/MUMBAI (Reuters): India slashed a tax on overseas borrowings by local companies on Friday, giving them access to cheaper funds and cheering investors as the Government pressed on with reforms to revive economic growth. Under the new rules, which were proposed in the federal budget for 2012/13 in March but not implemented so far, ...
$ 450 m mega project to be completed in 2014 By Uditha Jayasinghe The Government has leased the iconic Transworks House land to India’s Krrish Group for 99 years at $ 49 million, whilst the $ 450 million mega project is slated to be completed by 2014. The land encompasses the Transworks House, a colonial ...
Saskia Fernando Gallery and Breese Little Gallery will host a dual exhibition of drawings by Chandraguptha Thenuwara and Jagath Weerasinghe, staged simultaneously in London and Colombo during the next couple of weeks. Titled ‘Drawings’ the exhibitions will present Thenuwara and Weerasinghe’s negotiations of this medium, investigating drawing as a site to negotiate boundaries, pol...
Reuters: Stocks edged up on Friday on foreign buying of blue chips, but the gain was capped by retail profit-taking in speculative shares, dealers said. The Colombo Stock Exchange’s main index, or All Share Price Index (ASPI), ended 0.14%, or 8.10 points, firmer at 5,910.07. “The ASPI edged marginally higher amid volatility with improved activity ...
Khaleej Times: Sri Lankan efforts to increase its export of skilled workers to the UAE were the topic of discussion in a gathering of diplomatic officials at an overseas employment promotion seminar held on 13 September. At the event, officials addressed local recruiters and employers on the procedures and benefits associated with hiring workers from ...
President Mahinda Rajapaksa on Thursday held meetings with the Indian President and the Prime Minister and discussed key issues of mutual interest to the two nations. President Rajapaksa, who is in India on a three-day official visit, met the Indian President Pranab Mukherjee and the Prime Minister Manmohan Singh to discuss bilateral issues, including fishermen ...
The Central Bank of Sri Lanka (CBSL) recently provided a Technical Assistance (TA) to the Maldives Monetary Authority (MMA) aimed at developing foreign reserves management skills of the Maldivian Central Bank. This program helped to build MMA’s institutional capacity to formulate foreign reserves management policies and procedures and to manage its foreign reserves so as ...
DOCTORS unions and the Government have not always managed to get along as the masses can attest but the latest demand of allowing public doctors to work in private hospitals may result in another serious disagreement. Sri Lankan doctors’ union, the Government Medical Officers’ Association (GMOA) says the Health Ministry was appointing inexperienced doctors ...
SLIIT, together with representatives from the Instituteandrsquo;s prestigious foreign partner universities will host a Partner University Day on the 21 September at SLIITandrsquo;s Malabe campus from 9 a.m. to 6 p.m.
The Central Bank, with the view to further improving the standard of business conduct and good market practices for the effective and efficient functioning of the foreign exchange trading activities in Sri Lanka, has issued the Banking Act direction No. 1 of 2012 on foreign exchange trading activities of licensed commercial banks.
Renowned as the best wayside pit stop in restaurant culture, Wayamba Café Forest in Kurunegala will go Vegas style in signage and in the services offered at the restaurant on the upper floor and pastry corner on the ground floor, with a the multi flavoured ice cream parlour as an added facility. Ever since their ...
The Sri Lankan Government is making serious efforts in rehabilitation of former Tamil Tiger combatants, their reintegration into society and reconciliation with the minority, a high ranking Russian Government official said. Konstantin Dolgov, Russian Foreign Ministry Commissioner for Human Rights, Democracy and the Rule of Law, and Ambassador-at-Large, said the situation in terms of human ...
The year-to-date net foreign inflow has surpassed the Rs. 30 billion mark as the Colombo stock market bounced back yesterday on the strength of a fresh round of buying, following profit taking early in the week. After a small outflow Rs. 31 million on Monday, the market has seen net foreign buying of nearly Rs. ...
In tough economic conditions, cutting jobs in a business may appear to be the simplest solution to reducing expenses. However, layoffs present many disadvantages for employer, employee and customer. Globally, be it financial services, healthcare, media, technology or retail, all of them have thrown hundreds upon hundreds out of the workforce in the last 36 ...
The Singapore Exchange (SGX) and Bursa Malaysia trading link went ‘live’ on Tuesday. The trading platform is an initiative by the ASEAN Exchanges, which is a collaboration of seven ASEAN stock exchanges, to boost regional capital markets and attract more investors to these bourses. The response from investors was a little lacklustre on first day ...
Ever been to Hotel de Same Place? If you find it hard to believe, here’s the address: No. 83 & 85, Malay Street, Colombo 2. The esoteric roadside eatery’s venturesome owner says that he so named the hotel fearing that patrons may deem otherwise. “I wanted to assure my customers that my hotel will remain ...
Reuters: Schools, shops and government offices were shut in some states on Thursday as protesters blocked road and rail traffic as part of a one-day nationwide strike against sweeping economic reforms announced by the government last week. The main opposition Bharatiya Janata Party (BJP), joined by smaller parties from both the political left and right, ...
Sri Lanka’s telecommunication sector has lost approximately Rs.8 billion by way of exchange losses, as the majority of telecom firms operating in the country are exposed to foreign exchange borrowings, according to Telecommunication Regulatory Commission (TRC) Director General Anusha Palpita.
The Central Bank (CB) yesterday in a statement issued new directives on foreign exchange activities that broadly cover market practices and ethical standards. The bank, with the view to further improve the standard of business conduct and good market practices for the effective and efficient functioning of the foreign exchange trading activities in Sri Lanka, ...
Reuters: Stocks fell 1.4 per cent yesterday as investors booked profits across the board in an overbought market after a 15-session rally. The Colombo Stock Exchange’s main index, which fell 2.2 per cent in early trade, recouped its early losses to end 1.04 per cent, or 61.67 points, weaker at 5,849.14. “We are going to ...
The Unit Trust Association (UTA) is to present a proposal to the Securities and Exchange Commission (SEC) on increasing awareness of their industry to attract retail investors to the stock exchange. UTA President P. Asokan told Daily FT that the decision was taken at a meeting held with SEC Chairman Dr. Nalaka Godahewa on Tuesday. ...
Business sentiment at Asia’s top companies declined for a second consecutive quarter in 2012 due to continued worries over the global economy, according to the latest Thomson Reuters/INSEAD Asia Business Sentiment Survey. The poll was conducted between 3 and 14 September 2012 and of the 97 companies that responded, 32.99 per cent reported a positive ...
In a move to guide the young executives and school leavers on unlimited opportunities, a career guidance forum titled ‘103 Top Global Qualifications; One Free Seminar’ will be held on 22 September at 9 a.m. at RCU Skills Centre, Royal College, Colombo 7. The free half-a-day seminar is organised by CICRA Holdings as part of ...