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Sri Lanka‘s tea exports fall for 11th consecutive month
Aug 21, 2015 (LBO) – Sri Lanka’s Tea exports, continued to decline in June 2015 for the eleventh consecutive month, due to lower demand from main tea buyers such as Russia and the Middle East, as well as the unit price with the lowest export price of US dollars 4.39 per kg of tea being […]
Ranil Wickramasinghe sworn-in as new Prime Minister of Sri Lanka; new cabinet next week
Aug 21, 2015 (LBO) – National Leader of the United National Party Ranil Wickramasinghe was sworn-in as new Prime Minister of Sri Lanka before President Maithripala Sirisena at the Presidential Secretariat a short while ago. A memorandum of understanding between the General Secretary of SLFP, Duminda Dissanayake, and General Secretary of the UNP, Kabir Hashim, […]
‘s Mark Zuckerberg tops list
Aug 21, 2015 (LBO) – Technology entrepreneurs dominate the list of the world’s 20 wealthiest individuals under the age of 35, as ranked by Wealth-X.Wealth-X is a global authority on wealth intelligence, providing strategy and compliance solutions to clients in the financial services. Check the full list:
Greece Prime Minister quits and calls general elections
Aug 21, 2015 (LBO) – Greek Prime Minister Alexis Tsipras has resigned last night putting the country in danger of political instability.General elections are expected to be held on 20 September 2015, as per media reports.“The public mandate we got on January 25 exhausted its limits and now the sovereign people must yet again have […]
Sri Lanka stocks close down 0.6-pct
Aug 20, 2015 (LBO) – Sri Lankan stocks closed down Thursday with volatility returning to the market as it lost steam amid on-going discussions among the two major political parties to form a national government, brokers said. The Colombo benchmark All Share Price Index closed down 48.96 points at 7,449.82 down 0.65 percent. The S&P […]
Sri Lanka’s Browns & Co plans tourism industry expansion
Aug 20, 2015 (LBO) – Sri Lanka’s household goods retailer Brown & Company wants to build two hotels in Maldives and expand from its current 308 operational rooms to approximately 1,000 in the near future, the company said. “As the tourism industry continues to grow rapidly, Browns will partner by contributing approximately 1,000 rooms in […]
Sri Lanka Freedom Party agrees to support ruling United National Party, MOU to be signed
Aug 20, 2015 (LBO) – Sri Lanka Freedom Party on Thursday decided to support ruling United National Party to form a stable government at least for a period of two years.The decision has been made at a SLFP central committee meeting chaired by President Maithripala Sirisena as the chairman of the party. Former President Chandrika […]
Sri Lanka’s Marxist JVP nominates Handunnetti and Mayadunne to national list
Aug 20, 2015 (LBO) – Sri Lanka’s Marxist JVP on Thursday nominated their long time politburo member Sunil Handunnetti and former auditor general S.C. Mayadunne to the national list.Sunil Handuntetti who had led the JVP campaign in the Matara district has lost his parliamentary seat at the recently concluded general election. Speaking to LBO, JVP […]
Softlogic net surges 35 pct on ICT, retailing post-ODEL acquisition
Aug 20, 2015 (LBO) – Sri Lanka’s Softlogic Holdings PLC, with diversified interests, reported a 35 percent rise in net profit to 304 million rupees for the three months to June, on revenues of 13 billion rupees, driven by stronger ICT and retailing activities. Earnings per share was 0.11 rupees for the quarter, up from […]