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Sri Lanka stocks close down 0.05-pct
Sep 23, 2015 (LBO) – Sri Lankan stocks closed down 0.05 percent on Wednesday with losses in some index heavy stocks, brokers said. The Colombo benchmark All Share Price Index closed down 3.55 points at 7,114.83 lower 0.05 percent. S&P SL20 closed 11.48 points higher at 3,884.22 down 0.29 percent. Turnover was 747.5 million rupees, […]
Sri Lanka’s Pan Asia Bank debentures oversubscribed
Sep 23, 2015 (LBO) – Sri Lanka’s Pan Asia Bank said a listed debt offer for four billion rupees had been oversubscribed Wednesday and is closing on the same day. The bank offered 20 million debentures at 100 rupees each with an option to issue 20 million further. The basis of allotment is to be […]
Sri Lanka cuts government spending over foreign visits and security measures
Sep 23, 2015 (LBO) – Sri Lanka’s cabinet on Tuesday decided to cut government spending over various activities and introduced a new criteria to adopt in expending government funds.The Prime Minister has focused the attention of the following; • Minimizing to the maximum level foreign visits by the Ministers, State Ministers, Deputy Ministers, all elected […]
Developing Asia needs to strengthen women’s place in the labor market: ADB
Sep 23, 2015 (LBO) – Taking strong proactive measures to get more women into productive, well-paid jobs, entrepreneurship, and leadership positions will bring multiple and long-lasting economic and social benefits to developing Asia, the ADB said. According to the ADB’s annual economic publication, Asian Development Outlook 2015 women’s participation in Asia’s workforce has actually fallen […]
Sri Lanka JKH’s Cinnamon Life has 40 pct of residential tower prebooked: Official
Sep 23, 2015 (LBO) – Sri Lanka’s blue-chip John Keells Holdings said that its 850 million US dollar mixed development project “Cinnamon Life” has already started selling apartments in its integrated resort under the concept of live, work and play. “We call it a city-within-a-city which will have office space, shopping, dining, entertainment, playing area, apartment and […]
‘s new govt must rein in corruption, says opposition MP
Sept 23, 2015 (LBO) – Sri Lanka’s jumbo lineup of ministers after the August general election, in the context of a national government, raises more concerns about corruption, not less, according to opposition Member of Parliament Tharaka Balasuriya. “When all these guys get together, how are people going to answer.Corruption can definitely increase as this […]
Asian stocks hit by falling commodity prices in US
Sep 23, 2015 (LBO) – Asian stocks hit a negative in early Wednesday trade following a major U.S. averages crashed more than 1 percent overnight, foreign media reports showed. Commodity prices hit two-week lows on Tuesday, with U.S. crude oil down to 45.83 US dollars a barrel. Chinese shares dipped ahead of the key factory activity data […]
Germany to help revive GSP+ for Sri Lanka: Visiting Foreign Minister
Sep 23, 2015 (LBO) – Germany would lead the European Union to revive the GSP+ relief for Sri Lanka, the German Foreign Minister said in a statement. “I will take action in that regard, in coordination with the Foreign Ministry of Sri Lanka,” Frank Steinmeier, foreign minister of Germany said when he called on President […]
Germany can utilize Sri Lanka’s skilled labour force: Foreign Minister
Sep 22, 2015 (LBO) – Sri Lanka’s Foreign Minister said more German companies should invest in Sri Lanka and take advantage of the islands skilled labour force and regional ties, during the visit of his German counterpart. “Now that Volkswagen is in, other German companies are taking an interest in Sri Lanka,” Mangala Samaraweera, Minister […]
Microsoft releases Office 2016 for Windows and Mac
Sep 22, 2015 (LBO) – Microsoft on Tuesday released worldwide its latest office update, the Office 2016 along with several new and enhanced Office 365 services. Some highlights from Microsoft: • Outlook 2016 provides the smartest inbox yet, delivering lightning fast search, removing low priority mail automatically and making sure everyone on the To: line […]