IMF to lend $1.5 billion to Sri Lanka

Formal approval of the EFF is expected to catalyse an additional $650 million

Colombo: Sri Lanka will borrow $1.5 billion from the International Monetary Fund (IMF) for the government’s economic reform agenda, the IMF said on Friday. Formal approval of the EFF is expected to catalyse an additional $650 million Todd Schneider, IMF mission chief for Sri Lanka, said a staff-level agreement was reached on a three-year programme More...

by Agencies | Published 3 hours ago
Further, none of the power plants have reported critical/super critical coal stock position
By Agencies On Thursday, April 28th, 2016
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No Indian thermal power plant facing coal shortage: Goyal

New Delhi: Declaring that there is no shortage of coal in the country, Coal and Power Minister Piyush Goyal said on Thursday that none of the thermal power plants in the country have reported any loss of generation More...

Better than expected results led to Facebook shares jump more than 9 percent
By Agencies On Thursday, April 28th, 2016
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Facebook profits triple in 2016 first quarter, stocks surge

Washington: Riding on advertisement growth, social media giant Facebook on Wednesday reported a stellar $1.5 billion first-quarter profit or 52 cents per share in 2016 — nearly triple of last year’s More...

The main threat to the sovereign credit profile would be via a significant and prolonged worsening in asset quality
By Agencies On Wednesday, April 27th, 2016
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India’s rating at risk from government debt levels: Moody’s

Hong Kong: American credit rating agency Moody’s on Wednesday retained India’s outlook at ‘positive’ saying the country’s history of double-digit inflation, high government debt levels, More...

iPhone unit sales fell nearly 16 percent from 61.2 million units last year to 51.19 million this year
By Indileak Web Desk On Wednesday, April 27th, 2016
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Apple sales fall after 13 years

Washington: Hit by a slower growth in its flagship iPhone, iPad and Mac sales globally, Apple announced revenue drop for the first time since 2003 as the tech giant released earning reports for the second quarter More...

The company will be investing Rs 1,000 crore this year in setting up five to six new processing units
By Agencies On Tuesday, April 26th, 2016
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Patanjali targets 150 percent growth in 2016-17

New Delhi: Patanjali Ayurved is expecting 150 percent growth in 2016-17, reaching an over Rs 10,000 crore turnover in the current fiscal, its founder yoga guru Ramdev said here on Tuesday. The company will be investing More...

The company's first smartphone may be launched at a dedicated retail store in London
By Agencies On Monday, April 25th, 2016
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World’s costliest smartphone is round the corner

London: Fancy a device — dubbed “Rolls Royce of smartphones” — that will set you back by nearly $10,000 (over Rs 66 lakh)? The “most advanced mobile device with highest privacy settings” More...

At least 44 employees earned more than the executive directors
By Agencies On Sunday, April 24th, 2016
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Raghuram Rajan is not RBI’s top paid executive

Mumbai: Reserve Bank of India Governor Raghuram Rajan is not its highest-paid top executive, according to the latest details published by India’s central bank, under the RTI Act. At least 44 employees earned More...

The mobile app also incorporates high resolution enhanced seat maps
By Agencies On Sunday, April 24th, 2016
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Etihad Airways launches mobile app

Abu Dhabi: The United Arab Emirates national flag carrier, Etihad Airways has launched a mobile app for the iPhone that enables guests to organise and manage their journey with ease. The mobile app also incorporates More...

Jet Lite would cease to be a budget carrier and merge with the full service arm of its mother company
By Indileak Web Desk On Saturday, April 23rd, 2016
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Jet Lite to be merged with Jet Airways

Mumbai: Private carrier Jet Airways said here that it has received shareholders’ approval for the merger of its low-cost subsidiary JetLite with itself. Jet Lite would cease to be a budget carrier and merge More...