14th International Conference on Advances in ICT for Emerging Regions ICTer2014 in December

Published : 12:00 am  November 17, 2014  |  Category: IT / Telecom  |  Leave a Comment  |  159 views  |  

The University of Colombo School of Computing (UCSC) has announced that this year’s International Conference on Advances in ICT for Emerging Regions (ICTer2014) will be held in Colombo from 10 to 14 December 2014. ICTer2014 is technically co-sponsored by IEEE Sri Lanka Section and is the successor to the seminal International Information Technology Conference (IITC) held in Sri Lanka since 1998. It provides an ideal platform to the researchers and practitioners alike to showcase research and development activities carried out in ICT and CS domains. Proceedings of ICTer2014 will be published in both book and submitted to IEEE Xplore indexing service. Selected papers will be invited for publication... 


John Keells Office Automation launches ZTE mobiles in Sri Lanka

Published : 12:00 am  November 17, 2014  |  Category: IT / Telecom  |  Leave a Comment  |  346 views  |  

By Inshira Shainaz ZTE launched its latest range of android-powered smartphones and tablets in Sri Lanka recently, brought here exclusively by John Keells Office Automation. The launch event titled ‘Unlock the value of global technology’ was held on 12 November. ZTE is the number two phone brand in the prepaid market in the US in partnership with John Keells Office Automation, the leading distributor of smartphones in Sri Lanka. Nine of ZTE’s latest devices were unveiled, catering to a broad range of users from high end to entry level.   The blazing fast and ultra slim ZTE star 1 was among the phones that were launched, featuring a quad core processor, a five inch, 441 ppi screens... 


Colombo Stock Exchange records highest-ever foreign inflows

Published : 12:00 am  November 17, 2014  |  Category: Financial Services  |  Leave a Comment  |  249 views  |  

In a year that has proved to be record-breaking, the Colombo Stock Exchange has reached yet another milestone in 2014 by recording its highest-ever inflow of foreign investment into the equity secondary market. Foreign purchases in 2014 as at 14 November was Rs. 95,083.8 million, surpassing the previous highest foreign purchases of Rs. 92,425.5 million recorded in 2010. The CSE in association with the Securities and Exchange Commission (SEC) initiated a strategy to attract foreign investors to the market over the past two years. The strategy to conduct road shows in overseas locations has been successful in attracting foreign institutional investors to invest in the Lankan capital market. These... 


Kenya tea farmers threaten to abandon crop as revenue drops

Published : 12:00 am  November 17, 2014  |  Category: Agriculture  |  Leave a Comment  |  219 views  |  

Reuters: The bushes of tea that blanket the rolling hills of Kenya’s Nandi County, about 300 km northwest of Nairobi, have seen hundreds of thousands of farmers and tea pickers earn a living here for generations. Kenyan tea farmer   Knight Kerubo and her husband pick tea here to support their five children, but the 26-year-old says she is worried about her job security, because some farmers are threatening to abandon the crop altogether and move to more lucrative ones instead. “It is definitely going to affect my life because if you uproot this crop where am I going to earn my living because this is the work we do. This is our work, there is no other job for us this is the only thing... 


UNP awaits formal announcement

Published : 12:00 am  November 17, 2014  |  Category: News  |  Leave a Comment  |  235 views  |  

The opposition United National Party (UNP) says it is awaiting a formal announcement from President Mahinda Rajapaksa saying presidential elections will be held next year, in order for the party to take the next step. UNP Leader Ranil Wickremesinghe said yesterday that once the formal announcement is made by the President, the UNP will announce who it will back for President at the polls and will then begin campaigning. He said that since President Mahinda Rajapaksa still has a couple of years for his term to end, the Opposition cannot prepare for an election next year till the President makes the proclamation. The UNP Leader meanwhile noted that the party was making initial preparations to face... 


Well-known Chartered Accountant Lal Nanayakkara inducted to CA Sri Lanka Hall of Fame

Published : 12:00 am  November 17, 2014  |  Category: Business  |  Leave a Comment  |  183 views  |  

The Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) recently paid tribute to well-known Chartered Accountant Lal Nanayakkara by inducting him into the CA Sri Lanka Hall of Fame in recognition of his significant contribution made towards the development of the accounting profession, the institute and to society. Lal Nanayakkara being inducted to CA Sri Lanka Hall of Fame by the President of the Institute Arjuna Herath while Past President Ranel T. Wijesinha and Secretary/CEO Aruna Alwis look on   Nanayakkara, who served both public and private sectors, is the only member of CA Sri Lanka to serve in the Council for 17 years, which is the longest period ever served by any member... 


2,000 cows imported in last two years

Published : 12:00 am  November 17, 2014  |  Category: News  |  1 Comment  |  1 views  |  

By Ashwin Hemmathagama Our Lobby Correspondent Upholding the development plans set in the ‘Mahinda Chinthana’ political manifesto for the local dairy industry, the Government has imported 2,000 cows in 2012 and 2013, Minister of Water Supply and Drainage and Chief Government Whip Dinesh Gunawardena confirmed at Parliament on Saturday in response to a question for oral answer raised by UNP MP Ravi Karunanayake. Even though cows were not imported to Sri Lanka in 2011, the CIF value for a pregnant cow imported to the country in 2012 and 2013 stood at Rs. 310,100 despite the market price set at Rs. 350,000. According to the ministerial report tabled in the House, the cows were imported from Australia,... 


A shift in momentum witnessed in secondary bond markets during the week

Published : 12:00 am  November 17, 2014  |  Category: Financial Services  |  Leave a Comment  |  188 views  |  

By Wealth Trust Securities A shift in momentum was witnessed in secondary bond markets during the week ending 14 November as the overall yield curve witnessed a parallel shift upwards for the first time in four weeks. During the week, the weighted averages of the 182 and 364 day bills remained steady at 5.84% and 6.00% respectively against market expectation with the 364 day bill holding steady for a fifth consecutive week. The actively quoted maturities of 1 July 2019, 1 July 2022 and 1 January 2024 increased from weekly lows 6.98%, 7.50% and 7.73% respectively at the beginning of the week to highs of 7.15%, 7.80% and 8.00% towards the later part of the week. In addition activity was witnessed... 


Sampath Bank records 56% profit growth in first 9 months

Published : 12:00 am  November 17, 2014  |  Category: Financial Services  |  Leave a Comment  |  223 views  |  

Sampath Bank recorded an impressive profit after tax growth of 56% during the nine-month period ended 30 September 2014. The post-tax profit of the bank during the period was Rs. 3.71 b, as compared to Rs. 2.38 b, achieved in the corresponding period in 2013. Improvements in all sources of income namely, net interest income (Rs. 420 m), net fee and commission income (Rs. 385 m), net trading income (Rs. 501 m), other operating income (Rs. 979 m) and drop in impairment charge for loans (Rs.1,020 m), contributed towards this growth in profit. Sampath Bank Group too recorded a profit after tax of Rs. 3.93 b for the nine month period ended 30 September 2014, a growth of 54% compared to Rs. 2.55 b... 


Lanka Rating Agency upgrades Vidullanka PLC’s ratings to A/Stable/P2

Published : 12:00 am  November 17, 2014  |  Category: Business  |  Leave a Comment  |  128 views  |  

Lanka Rating Agency (LRA) has upgraded Vidullanka PLC’s (“Vidullanka” or “the Company”) respective long- and short-term corporate credit ratings to A and P2 respectively from A- and P2. The long-term ratings carry a stable outlook. The rating upgrade is premised on the Group’s notable improvement in cash flow generation and debt protection in FY Mar 2014, as such, the Group’s funds from operations (“FFO”) debt coverage levels improved and maintaining a healthy level of cash reserves. LRA takes into account of Vidullanka’s future cash generating capabilities from the newly built Lower Kotmale mini-hydro power plant which provides more comfort within the analysis. Vidullanka... 


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