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Business

Technology is changing every facet of work, including how companies profile and select their employees. The development of different apps, software, and algorithms has produced many novel methodologies for screening job candidates and evaluating their potential fit for a role or organization. The latest of such methods is voice profiling, the use of computer-based algorithms to predict job...
Full Article Saturday, 25 April 2015 00:00
Nokia recently acquired French rival Alcatel-Lucent for €15.6 billion ($16.6 billion). The combined company will be the second largest telecom equipment company in the world with a market share of 35%. Ericsson is the current leader with 40% of the market, while Chinese networking giant Huawei holds a 20% share, according to Bernstein Research. The deal will give Nokia better…
Full Article Saturday, 25 April 2015 00:00
China’s success in securing 57 founding members for its new regional lending institution, the Asian Infrastructure Investment Bank (AIIB), signals the real limits of U.S. influence in the region in the post-Cold War era. As of the March 31 deadline for initial applications to join the AIIB, among major industrial powers only U.S. ally Japan, so far, has spurned Beijing’s…
Full Article Saturday, 25 April 2015 00:00
Sri Lanka’s independent research analysts last week termed the decision by the Central Bank Monetary Board to cut policy interest rates by 50 basis points as a surprise given that there wasn’t such a requirement, as private sector credit growth had been recovering steadily in the midst of a low inflationary environment.
Full Article Saturday, 18 April 2015 00:00
The Government last week said construction work of the expressway headed towards the North has been placed in the backburner and added that work would begin only after the completion of the Colombo-Kandy expressway. Deputy Minister, Highways and Investment Promotion, Eran Wickremaratne speaking to The Nation Gain stated that the Government was yet to commence work on the Colombo-Kandy...
Full Article Saturday, 18 April 2015 00:00
The Colombo Port City development project is a matter of considerable public interest and controversy, because of the unprecedented level of foreign direct investment involved and also because of concerns raised about the project’s impact. The project is currently under review by an expert committee appointed by the government, which will report to a Cabinet sub-committee headed by the Prime...
Full Article Saturday, 18 April 2015 00:00
Vajira Wijegunawardane was appointed as the Director General of the Securities and Exchange Commission of Sri Lanka (SEC) last week. Wijegunawardane holds a BA (Hons) degree in Business Management and Administration from the University of Reading, UK and a Masters Degree in Financial Economics from the University of Colombo. He also holds the International Capital Markets...
Full Article Saturday, 18 April 2015 00:00
Renowned advertising strategist, Murtaza A. Tajbhoy, Head of Brand Planning, Leo Burnett Solutions Inc. (LBSI), has been selected to serve on the respected jury of the Asian Marketing Effectiveness and Strategy (AMES) Awards which will take place this June in Singapore. Now in its 13th year, the AMES Awards are Asia Pacific’s foremost awards...
Full Article Saturday, 18 April 2015 00:00
As part of the Corporate Social Responsibility (CSR) initiative, Mobitel recently refurbished the computer lab at Royal College in Polonnaruwa equipping it with new technology including WiFi. Here President Maithripala Sirisena is seen at the opening with his brother P.G. Kumarasinghe who is the SLT Chairman, Mobitel CEO Ranjith G. Rubasinghe and Royal College Principal Ravilal Wijayawansha
Full Article Saturday, 18 April 2015 00:00
Singer Sri Lanka has partnered with the Home Science Department of the Ministry of Education to host home science teachers islandwide at a customized workshop named ‘Soopa Shasthra Vadamuluwa’. The workshop was designed to educate the teachers and keep them apprised of the latest kitchen appliances and techniques.  The workshop seeks to nurture a generation of empowered youth who are...
Full Article Saturday, 18 April 2015 00:00
Sri Lanka’s first Open Air zoo was opened yesterday adjacent to the Pinnawala Elephant Orphanage, by Minister of Tourism and Sports Navin Dissanayake. The government said the expenditure incurred on the Pinnawala Open Air Zoo is Rs.862 million, of which Rs. 488 million was funded by the Treasury, while the balance from the Zoological Development Fund.
Full Article Saturday, 18 April 2015 00:00
The next-generation display technology and advanced ultra-thin curved design of the LG Curved OLED TV brings cinematic immersion that represents a new era in home entertainment. With its gently curved screen and LG’s proprietary WRGB OLED Technology, the LG Curved OLED TV produces the most life-like colours and an infinite contrast ratio with deeper blacks and....
Full Article Saturday, 18 April 2015 00:00
The current government has attached high priority to the constitutional amendments, electoral reform and reconciliation. These are undoubtedly extremely important national issues which need to be addressed. However, it is important not to lose sight of the imperatives for urgent economic reform.
Full Article Saturday, 18 April 2015 00:00
China has been granted operation rights for 40 years at a port in Gwadar, a strategic deep-water seaport in Pakistan, Hong Kong-based Pheonix TV reported last week. Infrastructure construction is nearly complete and the port could be put into full use by the end of the year, Dostain Khan Jamaldini, Chairman of the Gwadar Port Authority, was quoted as saying.
Full Article Saturday, 18 April 2015 00:00
India and China are exploring possibilities of establishing a ‘Buddhist circuit’ along with Sri Lanka and Nepal for Chinese travellers, which could be launched by Prime Minister Narendra Modi during his visit to China next month.“We are exploring the possibility of Buddhist circuit with Indian officials,” Huang Xilian, Deputy Director General of Asian Affairs in the Chinese Foreign Ministry told…
Full Article Saturday, 18 April 2015 00:00
Questions on the future of the Port City project continues after the failure of the key stakeholder, China Communications and Construction Company (CCCC) Ltd, and Government representatives to take part at the Public Tribunal held last week in Colombo to discuss the controversial project. The tribunal which was organized by Transparency International Sri Lanka (TISL) was held...
Full Article Saturday, 11 April 2015 00:00
People in Sri Lanka’s war ravaged regions in the North and East are increasingly becoming indebted compared to those outside the region as financing needs especially for rebuilding basic amenities like houses have escalated post-war, a recent study showed.Average debt as a proportion of income in the three districts of the North and East, Vavuniya, Batticaloa and Jaffna compared...
Full Article Saturday, 11 April 2015 00:00
High labor costs, scarce labor and lower productivity among estate workers have forced a few of Sri Lanka’s Regional Plantation Companies (RPCs) to consider investment in mechanized plucking, industry, sources said last week. Experts have pointed out that they expected that over 50 percent of tea plucking would be mechanized in 2025 owing to the above issues. Secretary General, Tea...
Full Article Saturday, 11 April 2015 00:00
The Chairman of Bank of Ceylon, President’s Counsel Ronald C. Perera last week said that the bank’s General Manager, D M Gunasekara has been “placed on leave until investigations are completed” amidst a contrasting claim made by the Finance Minister. Speaking to the media two days ago, Finance Minister Ravi Karunanayake had announced last week that Gunasekera...
Full Article Saturday, 11 April 2015 00:00
Sri Lanka’s state-owned flagship carrier, SriLankan Airlines (SLA) is presently technically insolvent (though not legally) as it is in a negative working capital position, the report by the Board of Inquiry (BoI) has outlined. According to the report, the total liabilities of the airline as at 31st January 2015 amount to Rs. 160 billion approximately, of which current liabilities stand…
Full Article Saturday, 11 April 2015 00:00

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