Microsoft wins landmark appeal over seizure of foreign emails

Reuters: A federal appeals court on Thursday said the US government cannot force Microsoft Corp and other companies to turn over customer emails stored on servers outside the United States.

The 3-0 decision by the 2nd US Circuit Court of Appeals in Manhattan is a defeat for the US Department of Justice and a victory for privacy advocates and for technology companies offering cloud computing and other services around the world. Circuit Judge Susan Carney said communications held by US service providers on servers outside the United States are beyond the reach of domestic search warrants issued under the Stored Communications Act, a 1986 federal law.

Brexit to pose challenges to Sri Lanka: Moody’s

Any severe and prolonged market volatility resulting from Brexit could affect heighten balance of payment pressures for Sri Lanka (B1 negative), the global rating agency, Moody’s said in a report released yesterday.

The Moody’s Investors Service says that the United Kingdom’s vote to leave the European Union will not have a significant credit impact on Asia Pacific sovereigns, but dependence on external finance poses a vulnerability for some countries.

Moody’s conclusions are contained in its just-released report on the impact of Brexit on the Asia Pacific region, entitled “Sovereigns -Brexit and Asia Pacific: Limited Direct Credit Impact; Some Sovereigns Exposed to Market Volatility.”

Consumer rights activists want bottled water monitored

By Chamodi Gunawardana

The National Movement for Consumer Rights’ Protection (NMCRP) yesterday urged the Health Ministry and the Sri Lanka Standards Institute (SLSI) to continuously monitor standards of bottled water

It demanded that SLSI should have regular checking for its approved products to inspect whether they are maintaining standards.

Rupee forwards edge down on importer demand

Reuters - Sri Lankan rupee one-week forwards ended slightly weaker on Friday as importer dollar demand surpassed late inward remittances ahead of Ramadan while nervous investors awaited the appointment of a new Central Bank governor, dealers said.

One-week dollar/rupee forwards, which have been acting as a proxy for the spot rupee, ended at 146.40/60 per dollar, weaker than Thursday’s close of 146.00/30.

Korean Residents Association donates relief items for  flood victims

The Korean Residents Association of Lanka on 17 June handed over relief items such as portable mattresses, rice, water, shoes, clothes, personal care products, etc. for the victims of the recent flood disaster in Pahala Bomiriya, Kaduwela. The items were sponsored by the Embassy of the Republic of Korea, Korean companies and residents in Sri Lanka. 

The small village which is surrounded by two streams and is home to 120 residents (37 households) has been seriously affected by 30-foot high flood waters washing away houses.  

Korean Residents Association of Lanka President Kwak Hongkyu (centre) and Consul for the Ambassador of the Republic of Korea to Colombo Lee Jaewoo (right)

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Source: http://www.ft.lk/article/550808/Korean-Residents- Association-donates- relief-items- for- flood-victims#sthash.JiiVV891.dpuf

World’s smallest computer, ASUS VivoStick PC debuts in SL

The world’s smallest PC –ASUS VivoStick PC has been introduced to the local market via its agents EPSI Technology Ltd.

ASUS announced the international release of ASUS VivoStick in April and roll out in Sri Lanka comes in just two months.

The PC in hand whenever or wherever it is needed is designed to make a big impact both in terms of performance and aesthetic.

VivoStick is a pocket-sized PC that turns any HDMI display or TV into a Windows PC or smart TV for work or play and is powered by an IntelAtomprocessor with 2GB RAM, and has 32GB of onboard storage space. It has 802.11ac Wi-Fi, Bluetooth 4.1, USB 3.0 and USB 2.0 ports, a HDMI port and an audio jack, plus an internal cooling fan to guard against overheating.

 

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By Uditha Jayasinghe

Capital Gains tax could be rolled out as early as end July since the Government is looking to fast-track its revenue sources, a top minister said yesterday.

Public Enterprise Development Minister Kabir Hashim insisted the Government would formulate a structure for Capital Gains tax “in about a month” as it looks to speed up the process, which is part of broad tax reforms needed to boost public revenue. Tax reforms is also a crucial part of the International Monetary Fund program with Sri Lanka.

National HR conference 2016

Come check out our latest products at the National HR conference 2016 on 21st and 22nd June at BMICH.