Central Depository Systems relocates operations to Rajagiriya to support expansion



In a move aimed at supporting the expansion planned for the organization going forward, Central Depository Systems (Pvt) Ltd (CDS), a fully owned subsidiary of the Colombo Stock Exchange (CSE), relocated its operations to a larger premises located at the Ground Floor of the M & M Centre, No.341/5, Kotte Road, Rajagiriya today. While the new address will be used for correspondence, all other…

Sri Lanka starts work on two 10MW waste-to-energy plants

Sri Lanka has started work on two waste-to-energy plants of 10 MegaWatts each to incinerate municipal waste in the Western Province with a combined investment of 27 billion rupees, Western Megapolis Minister Champika Ranawaka said.The last administration had not solved the garbage problem, but allowed mountains to pile up, and two licenses were given to private firms to build incinerators, by a competitive…

JKOA launches SAP Hybris Cloud for Service: a revolutionary customer support service



Aug 10, Colombo: Leading office automation solutions provider John Keells Office Automation (JKOA) launched the SAP Hybris Cloud for Service customer support module on 6th August at its Colombo headquarters. The module is the result of an agreement signed between JKOA and SAP Hybris in a move that will significantly enhance the JKOA customer experience by enabling real-time interaction between…

Oil falls 1% on fears Mideast rift could harm Opec cuts



NEW YORK: Oil prices fell about 1% on Monday on concerns that the cutting of ties with Qatar by top crude exporter Saudi Arabia and other Arab states could hamper a global deal to reduce oil production. Saudi Arabia, the United Arab Emirates, Egypt and Bahrain closed transport links with top liquefied natural gas (LNG) and condensate shipper Qatar, accusing it of supporting extremism and undermining…

'Destruction' caused to Yamuna bank by World Culture Fest to cost Rs.13.29 crore and take 10 years

NEW DELHI: The three-day World Culture Festival organised by spiritual guru Sri Sri Ravi Shankar’s Art of Living Foundation on the Yamuna floodplains in Delhi in March 2016 "completely destroyed" the riverbed, an expert committee set up by the government has said in a report, dealing a blow to the claims of the organisers. The seven-member committee, headed by the water resources ministry…

China mum over SL rejecting submarine docking



The Chinese Foreign Ministry has today parried questions on reports that Sri Lanka has rejected China's request for its submarine to dock at Colombo next week after a similar visit in 2014 triggered a strong protest from India, the PTI reported today. "I have just read the relevant information. I suggest you raise it with the defence ministry for more details," Chinese Foreign Ministry spokesman…

SGX RegCo to focus on meaningful regulation



The new unit set up to handle stock market regulatory functions is not looking to put in place more rules.Instead the forcus will be on meaningfull regulation, said Singapore Exchange Regulation (SGX RegCo) chief executive Tan Boon Gin. The RegCo,mooted a year ago and officially established last month,is now preparing to take over all of SGX's regulatory functions by August.Mr.Tan,speaking…

Anything that just costs money is cheap



In the airline business, cost-based pricing has become price-based costing. An expert analyst in global air transport, Dr. Julius Maldutis says it best. The price of an airline seat has no relationship to the cost of producing it, but rather reflects the degree and nature of competition. Costs and prices have gone their separate ways. In fact, the relationship has been reversed. Airline managements…

Fifth Capital Market Conference on Feb. 21

The fifth Annual Capital Market (CAPM) Conference, organised by UTO EduConsult in conjunction with KPMG and Adl Capital as the key knowledge partners, will be held for the fifth consecutive year on February 21, 2017. The event will witness various stakeholders in the industry, from investment bankers, stockbrokers, regulators, lawyers et al gathering to discuss various contemporary issues germane to…

TPP: Australian dollar breaks through US76c on 'global trade war' fears



Aussie rising: the local dollar remains in favour ahead of key inflation data on Wednesday. Photo: Louie DouvisThe Australian dollar has topped US76¢ for the first time in more than two months as the greenback continues to weaken on worries that the Trump administration's protectionist stance will include seeking a weaker currency.Talk of trade wars pushed the Aussie as high…

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