Copreus

02/11/2022

CORPORATE STATEMENT – FALSE & DEFAMATORY YOUTUBE VIDEO [UPDATE]

We wish to inform our valued stakeholders that, as a final measure to address the false and defamatory campaign launched against our company by certain unscrupulous elements, Copreus (Pvt) Ltd, has, under legal advice, taken legal action. Copreus instituted action in the Colombo District Court against the owners of the controversial amateur news channel “Life Traveler” and after considering our case, the Court has issued an Enjoining Order against W.D. Dananjaya Naranbadda and R.A.M.P. Rathnayake, the owners and operators of ‘Life Traveller’, who published certain defamatory videos making false and malicious allegations regarding connections between Copreus Pvt Ltd and remanded businesswoman Thilini Priyamali and the Thico Group Ltd., as well as in relation to our business operations and activities. We are contemplating further legal action against other shadow Youtube Channels and social media pages who continue to publish similar statements. We will continue to actively pursue both criminal and civil proceedings against the aforementioned individuals for their wrongful activities against Copreus (Pvt) Ltd and its affiliated entities.

Please refer to the following e-news publications for further information:

English

Daily FT - https://www.ft.lk/front-page/Leading-international-company-granted-legal-relief-in-Sri-Lanka-in-online-defamation-dispute/44-741516

Daily Mirror - https://www.dailymirror.lk/breaking_news/Publishing-defamatory-videos-linking-to-Thilini-Priyamali-Copreus-gets-Enjoining-Order-against-YouTube-channels/108-247811

Daily News - http://www.dailynews.lk/2022/11/02/law-order/290372/copreus-obtains-enjoining-order-against-owners-%E2%80%98life-traveller%E2%80%99
Mawrata News - https://mawratanews.lk/news/publishing-defamatory-videos-linking-to-thilini-priyamali-copreus-gets-enjoining-order-against-youtube-channels/

Sinhala

Lankadeepa - https://www.lankadeepa.lk/news/%E0%B6%BA%E0%B7%96-%E0%B6%A7%E0%B7%92%E0%B6%BA%E0%B7%94%E0%B6%B6%E0%B7%8A-%E0%B6%B1%E0%B7%8F%E0%B6%BD%E0%B7%92%E0%B6%9A%E0%B7%8F%E0%B7%80%E0%B6%9A%E0%B6%A7-%E0%B7%84%E0%B7%8F-%E0%B7%86%E0%B7%9A%E0%B7%83%E0%B7%8A%E0%B6%B6%E0%B7%94%E0%B6%9A%E0%B7%8A-%E0%B6%B4%E0%B7%92%E0%B6%A7%E0%B7%94%E0%B7%80%E0%B6%9A%E0%B6%A7-%E0%B7%80%E0%B7%8F%E0%B6%BB%E0%B6%AB%E0%B6%BA%E0%B6%9A%E0%B7%8A/101-622605

Tamil

Thinakaran -https://www.thinakaran.lk/sites/default/files/news/2022/11/01/Thinakaran-e-Paper-02-11-2022.pdf

We would also like to take the opportunity to reassure all our stakeholders that Copreus (Pvt) Ltd and its affiliated entities, as leading international BPO service providers for well-known global CFD trading platforms www.finq.com and www.gulfbrokers.com, operate in full compliance with all Sri Lankan laws and regulations and international best practices.

09/10/2022

10/07/2022

May this day bring you nothing but love, happiness, harmony, and enjoyment. Eid Mubarak!

01/07/2022

ZURICH (Reuters) - Julius Baer has settled a case filed to a Geneva court in relation a Lithuanian corporation for 105 million euros ($109.79 million), the Swiss wealth manager said on Friday.

"(The claim) related to the alleged use of the financial system for the embezzlement of assets at a Lithuanian corporation by two of its executives – matters dating back more than ten years," Julius Baer said in a statement.

"Julius Baer will cover approximately half of the settlement of EUR 105 million with existing provisions. The remainder will be charged against the 2022 first half-year financial results."

($1 = 0.9564 euros)

Julius Baer settles Lithuanian-linked case for 105 million eur

01/07/2022

TOKYO (Reuters) - Apple Inc (NASDAQ:AAPL) has hiked by nearly a fifth the cost of its flagship iPhone phone in Japan, which is battling a weakening yen currency and rising inflation.

The Cupertino, California-based manufacturer's entry level iPhone 13 now costs 117,800 yen ($870), Apple's website showed, compared to 99,800 yen previously.

With the dollar up 18% against the yen year-to-date, the higher cost of the iPhone, which dominates Japan's smartphone market, comes as consumers' wallets are being squeezed by price hikes for daily necessities.

Such widespread hikes are a change for most Japanese following years of stable prices for many products.

Apple did not immediately respond to a request for comment.

($1=135.6900 yen)

Apple hikes Japan price of iPhone by nearly a fifth

30/06/2022

AMSTERDAM (Reuters) - Dutch airline KLM has paid back the last part of loans granted by the Dutch government during the COVID-19 pandemic, it said on Thursday.

The Dutch arm of airline group Air France-KLM said it had paid back 277 million euros ($289.2 million) after earlier repayments totaling 665 million euros.

The airline had been given 942 million euros in loans by the Dutch state in 2020 as the pandemic crippled international travel.

($1 = 0.9577 euros)

Airline KLM repays last of Dutch government loans

06/06/2022

SINGAPORE (Reuters) -Oil futures jumped on Monday, with Brent rising above $120 a barrel after Saudi Arabia hiked prices for its crude sales in July, signaling tight supply even after OPEC+ agreed to accelerate output increases over the next two months.

Brent crude was up 91 cents, or 0.8%, at $120.63 a barrel at 0343 GMT after touching an intraday high of $121.95, extending a 1.8% gain from Friday.

U.S. West Texas Intermediate (WTI) crude futures were up 93 cents, or 0.8%, at $119.80 a barrel after earlier hitting a three-month high of $120.99. It gained 1.7% on Friday.

Saudi Arabia raised the official selling price (OSP) for its flagship Arab light crude to Asia to a $6.50 premium versus the average of the Oman and Dubai benchmarks, from a $4.40 premium in June, state oil producer Aramco (TADAWUL:2222) said on Sunday.

The July OSP is the highest since May, when prices hit all-time highs due to worries of disruption in supplies from Russia amid sanctions over its invasion of Ukraine.

The price hike came despite a decision last week by the Organization of the Petroleum Exporting Countries and allies, together called OPEC+, to increase output in July and August by 648,000 barrels per day, or 50% more than previously planned.

Iraq said on Friday it plans to raise output to 4.58 million bpd in July.

Oil producers are "making hay while the sun shines", Avtar Sandu, manager of commodities at Phillip Futures in Singapore said, adding that U.S. summer driving demand and easing of COVID-19 lockdowns in China are expected to keep prices high.

The OPEC+ move to bring forward output hikes is widely seen as unlikely to meet demand as the increased allocation is spread across all members, including Russia that is facing sanctions.

"While that increase is sorely needed, it falls short of demand growth expectations, especially with the EU's partial ban on Russian oil imports also factored in," Commonwealth Bank analyst Vivek Dhar said in a note.

Separately, Italy's Eni and Spain's Repsol (OTC:REPYY) could begin shipping Venezuelan oil to Europe as soon as next month to make up for Russian crude, five people familiar with the matter told Reuters, resuming oil-for-debt swaps halted two years ago when Washington stepped up sanctions on Venezuela.

However, the volume that the companies will receive is not expected to be large, the people said.

Brent climbs above $120/bbl after Saudi Arabia hikes crude prices

06/06/2022

SYDNEY (Reuters) - Asian shares steadied on Monday as U.S. stock futures made cautious gains ahead of U.S. inflation data later in the week, while the euro touched a seven-year top on the yen amid wagers of European Central Bank tightening.

Oil prices firmed after Saudi Arabia raised prices sharply for its crude sales in July, an indicator of how tight supply is even after OPEC+ agreed to accelerate its output increases over the next two months.

MSCI's broadest index of Asia-Pacific shares outside Japan inched up 0.1%, while Japan's Nikkei recouped early losses to gain 0.3%.

S&P 500 futures added 0.4% and Nasdaq futures 0.6%. EUROSTOXX 50 futures rose 0.6% and FTSE futures 0.9%.

Chinese blue chips climbed 1.2% after a survey confirmed service sector activity contracted in May, but the Caixin index did improve to 41.4 from 36.2.

Markets will be on tenterhooks for the U.S. consumer price report on Friday, especially after EU inflation shocked many with a record high last week.

Forecasts are for a steep rise of 0.7% in May, though the annual pace is seen holding at 8.3% while core inflation is seen slowing a little to 5.9%.

A high number would only add to expectations of aggressive tightening by the Federal Reserve with markets already priced for half-point hikes in June and July and almost 200 basis points by the end of the year.

Some analysts thought Friday's upbeat payrolls report suggested the Fed was on track for a soft landing.

"May's numbers came in about as good as the Fed could expect," said Jonathan Millar, an economist at Barclays (LON:BARC).

"It's a good sign that the Fed's plans to cool the labor market are playing out favorably so far, with solid gains in employment continuing to generate steady income gains that will help allay recession worries, for the time being."

NOT SO NEGATIVE

The European Central Bank meets on Thursday and President Christine Lagarde is considered certain to confirm an end to bond buying this month and a first rate hike in July, though the jury is out on whether that will be 25 or 50 basis points.

Money markets are priced for 125 bps of hikes by year-end, and 100 bps as soon as October.

"Recent communication by ECB officials have looked to 25bp increases at July and September to exit negative rates by the end of Q3, though with some members preferring to leave the door to larger 50bp hikes open," said analyst at NAB. "Lagarde's post-meeting press conference will be closely watched."

The prospect of rates turning positive this year has helped the euro steady at $1.0722, some way from its recent trough of $1.0348, though it has struggled to clear resistance around $1.0786.

The euro also made a seven-year peak on the yen at 140.35, after climbing 2.9% last week, while the dollar held at 130.60 yen having also gained 2.9% last week.

Against a basket of currencies, the dollar stood at 102.110 after firming 0.4% last week.

In commodity markets, wheat futures jumped 4% after Russia struck Ukraine's capital Kyiv with missiles, dampening hopes for progress in peace talks.

Gold was stuck at $1,854 an ounce having held to a tight range for the past couple of weeks. [GOL/]

Oil prices got an added lift after Saudi Arabia set higher prices for shipments to Asia, while investors are wagering supply increases planned by OPEC will not be enough to meet demand especially as China is easing its lockdowns. [O/R]

"Perhaps only a third to half of what OPEC+ has promised will come online over the next two months," said Vivek Dhar, a mining and energy analyst at CBA.

"While that increase is sorely needed, it falls short of demand growth expectations, especially with EU's partial ban on Russian oil imports also factored in. We see upside risks to our near term Brent oil price forecast of US$110/bbl."

Indeed, Brent is already well past that adding 97 cents on Monday to reach $120.69 a barrel. U.S. crude rose another $1.01 to $119.88 per barrel.

Asia shares edge up with U.S. futures, oil gains

15/05/2022

May Lord Buddha enlighten you on the path of Love, Peace and Truth. Happy Vesak Day!

04/11/2021

A festival full of sweet childhood memories, a sky full of fireworks, a mouth full of sweets, a house full of laughter, and a heart full of joy.

Wishing you all a very happy and blessed Diwali!

25/10/2021

We are on the lookout for talents! Drop your CV to [email protected]

14/07/2021

In June, inflation has started advancing at its fastest pace in nearly 13 years as used vehicle costs and
price in food and energy surge, according to the Labor Department.
The consumer price index jumped 5.4% from a year earlier, marking the largest jump since August 2008,
Economists surveyed by Dow Jones had been forecasting a 5% gain, as reported by CNBC.
“What this really shows is inflation pressures remain more acute than appreciated and are going to be
with us for a longer period. We are seeing areas where there’s going to be ongoing inflation pressure
even after we get past some of those acute price hikes in a handful of sectors,” stated Sarah House,
senior economist for Wells Fargo’s corporate and investment bank.

In June, inflation has started advancing at its fastest pace in nearly 13 years as used vehicle costs andprice in food and energy surge, according to the Labor Department.The consumer price index jumped 5.4% from a year earlier, marking the largest jump since August 2008,Economists surveyed by Dow J...