Sunday, February 22

Business News

Taiwan’s COVID19 handling source of envy around the world
Business News, HOME RIGHT TOP NEWS

Taiwan’s COVID19 handling source of envy around the world

As people around the word experience isolation in their homes and await a solution to the Wuhan coronavirus pandemic, many are casting envious glances toward countries like Taiwan that have managed to avoid a full lockdown so far. The resumption of Taiwan’s professional baseball and soccer leagues last week attracted particular attention. This was, in part, because of "robot fans" and impressive brawls, but also the simple opportunity to enjoy live sport at a time when most global leagues have been halted. The shrewd decision of broadcaster Eleven Sports to make the games available on YouTube and with English commentary resulted in a global audience of 5 million people; far more than a match between the Rakuten Monkeys and Chinatrust Brothers would normally attract. It was a global a...
THE WORLD’S LUCKIEST MAN? – JEFF BEZOS SOLD $3.4bn stock before collapse
Business, Business News, Stocks and shares, THE YORK STREET TIMES

THE WORLD’S LUCKIEST MAN? – JEFF BEZOS SOLD $3.4bn stock before collapse

Jeff Bezos sold $3.4bn of Amazon stock just before Covid-19 collapse As trillions of dollars were wiped off stock markets some of the world’s richest got lucky Jeff Bezos, the Amazon chief executive, benefited this week from the best three-day stock market rally since 1933. Millions of people across the world have lost their jobs, and trillions of dollars have been wiped off the value of stock markets. But not everyone has lost out. Jeff Bezos, the world’s wealthiest person, is $5.5bn (£4.3bn) richer today than he was at the start of the year. His paper fortune, held mostly in Amazon shares, rose by $3.9bn on Thursday alone to $120bn – enough to buy 188,000 standard gold bars (even taking into account the soaring price of gold). Bezos, 56, benefited thi...
Huawei signs MOU with Sri Lanka’s Moratuwa University to enhance ICT knowledge transformation
Business News, Technology

Huawei signs MOU with Sri Lanka’s Moratuwa University to enhance ICT knowledge transformation

Huawei Sri Lanka and University of Moratuwa (UOM) entered into a Memorandum of Understanding (MoU) to enable the educated and talented youth in Sri Lanka to further enhance their skills in the ICT domain and to be competitive in the ever growing ICT industry, as part of Huawei’s long-term digital inclusion initiative – TECH4ALL, to support Sri Lanka to fulfil the “Smart Nation” vision of the country. Dr. Bandula Gunawardena Minister of Information and Communications Technology, Higher Education, Technology and Innovation, Anura Dissanayake, Secretary to Ministry of Higher Education, Technology and Innovations, Prof. K.K.C.K Perera, Vice Chancellor of the University of Moratuwa and Liang Yi, Huawei Technologies Lanka Chief Executive Office were present at the MOU signing ceremony. Spe...
Inflation in Colombo rises to 6.2 percent for the month of February
Business News

Inflation in Colombo rises to 6.2 percent for the month of February

Sri Lanka’s inflation, as measured by the change in the Colombo Consumers’ Price Index (CCPI) increased to 6.2 percent in February 2020 from 5.7 percent in January 2020, the Central Bank Statistics Department reported Friday. The CCPI for all items remained unchanged at 134.6 in February 2020 from the previous month. The increase in inflation was solely due to the statistical effect of the low base prevailed in February 2019, the Central Bank said in a statement. Food inflation (Y-o-Y) stood at 14.7 percent in February 2020, while Non-food inflation (Y-o-Y) recorded at 2.8 percent. The core inflation, which reflects the underlying inflation in the economy, increased to 3.2 percent in February 2020 from 3.0 percent in January 2020 on year-on-year basis. However, annual averag...
Business News

Sri Lanka donates tea for the Australian bushfire victims

Sri Lanka donated four tons of “Ceylon Tea” to Australia, as a goodwill gesture, for the victims of the recent bushfires that devastated people’s lives in Australia. Sri Lankan President Gotabaya Rajapaksa pledged the donation to the Australian Premier Scott Morrison, during a telephone conversation to convey his condolences and support, last month. A symbol of Sri Lanka, “Ceylon Tea” is popular among Australians and this donation will be distributed to the people in the affected areas. The handing over took place on Wednesday (12) in Melbourne, the destination of the Sri Lankan airlines flight that carried the consignment of tea. Consul General of Sri Lanka in Melbourne Kapila Fonseka handed over the tea to Deputy Commissioner of the Emergency Management Victoria, Debra Abbott...
Google ordered to reveal author of Australian dentist’s bad review
Business News

Google ordered to reveal author of Australian dentist’s bad review

An Australian court has ordered Google to identify the person behind an anonymous bad review of a dentist. Dr Matthew Kabbabe, a teeth-whitening specialist in Melbourne, sought the order so he could sue for defamation. He claimed user CBsm 23 had damaged his business by telling others to "STAY AWAY" from a procedure criticised as "extremely awkward and uncomfortable". The ruling forces the hand of the tech giant, which has previously defended allowing negative reviews on its site. Under the order, Google will be required to pass to Dr Kabbabe any personal details such as any names, phone numbers, location metadata and IP addresses linked to the account. International law allows for people to seek documents from overseas parties that they need for their case. 'Groundbreaking' ...
Hayleys Group records 41-pct profit growth in Q3
Business News

Hayleys Group records 41-pct profit growth in Q3

Sri Lanka’s diversified conglomerate, the Hayleys Group, demonstrated strong resilience in the 3rd quarter of 2019/20 to achieve a 41 percent growth in profit-after-tax. The robust performance during the quarter enabled the Group to offset the subdued performance of the previous quarters, with the Group’s profit-after-tax increasing by 18 percent on a cumulative basis during the 9 months up to December 2019. Profitability was upheld by broad-based improvements in the operating performance of the Group’s export-oriented businesses. Turnover declined marginally to Rs.160.6 billion in 9 months, mainly reflecting reductions in the Leisure, Transportation and Consumer & Retail segments while other sectors including Purification (+23%), Textiles (+15%), Hand Protection (+4%) and Ind...
Complaint lodged with CID on vehicles imported during previous government
Business News

Complaint lodged with CID on vehicles imported during previous government

A complaint was lodged with the CID today regarding the vehicles imported by the previous government spending Rs. 2.8 billion. Janatha Vimukthi Peramuna (JVP) parliamentarian Dr. Nalinda Jayathissa lodged the complaint. It was revealed in Parliament recently that 78 high value luxury vehicles have been imported between January 08, 2015 and November 30, 2019. The highest number of vehicles were imported by the ministers during years 2016 and 2017. The complaint lodged by the JVP MP states that Rs. 1.65 billion has been spent on vehicles purchased for cabinet ministers, Rs. 652 million for state ministers’ vehicles and Rs. 564 million for vehicles purchased by deputy ministers. Meanwhile, the National Freedom Front requests the government to initiate investigations into the incid...
Indian visitors embrace Sri Lanka’s Tourism attractions at the Outbound Travel Mart (OTM) 2020
Business News

Indian visitors embrace Sri Lanka’s Tourism attractions at the Outbound Travel Mart (OTM) 2020

Sri Lanka was able to prove it’s potential to attract tourists with its various tourist attractions and as a country of numerous holiday opportunities at the Outbound Travel Mart (OTM) in Mumbai, India, which was held from 03rd to 5th February 2020. The Sri Lanka participation at this event was arranged by Sri Lanka Tourism in collaboration with the Sri Lanka Consulate in Mumbai. The Sri Lanka pavilion was ceremoniously opened by Ms. Chamari Rodrigo, Consul General for Sri Lanka in Mumbai, amidst a distinguished audience including, Harris Theocharis, Minister of Tourism, Greece, Satpal Maharaj, Minister of Tourism, Uttarakhand, Industry stakeholders and Ruwan Wijekoon, Sri Lankan Airlines Manager, Western India. The Sri Lanka pavilion which was creatively designed as usual was...
Sri Lanka to produce more skilled workers for construction, tourism
Business News

Sri Lanka to produce more skilled workers for construction, tourism

Sri Lanka is planning to produce more skilled workers and technicians in order to meet the growing demand for labor in sectors like construction, partially fueled by the development of Colombo Port City, according to Chairman/CEO of the Vocational Training Authority of Sri Lanka (VTA), Damitha Wickramasinghe. Wickramasinghe told Xinhua that the state-owned VTA is planning to double the intake of trainees from last year’s 35,000 to a maximum of 70,000 students this year. Plans are also underway to increase the VTA’s capacity in the next three years so that annual intake can be increased up to 200,000 students. “President Gotabaya Rajapaksa is clear in his manifesto that he wants to make 90 percent of Sri Lanka’s workforce into skilled labor. The VTA is planning to meet this target by ...