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‘The Frozen Fire’, first Sri Lankan movie to enter mainstream category at Oscars
Jul 05, 2018 (LBO) – For the first time in the history of Sri Lankan film industry, a movie from the local industry will vie for Oscars 2019. The movie titled ‘The Frozen Fire’, directed by Anuruddha Jayasinghe, is the first Sri Lankan movie to enter in mainstream ‘Best Picture’ category of Oscars 2019, officials […]
Stocks continue slide to new 2018 lows as turnover dries up
July 4, 2018 (LBO) – The Colombo Stock Exchange continued its 2018 slide as stocks finished at new lows for the year. Both major stock market indices continued their drip lower finishing down just over .6%. Turnover was very weak at Rs261mn (US$1.65mn), with trades of market bellwether JKH accounting for almost 40% of total […]
Media Minister condemns attacks on journalists contributed to NYT report
July 04, 2018 (LBO) – Sri Lanka’s Media Minister on Wednesday condemned recent attacks on two Sri Lankan journalists who contributed to the New York Times report on massive financial misappropriation linked to the former regime. Releasing a statement, Minister Mangala Samaraweera said he was alarmed by recent attacks because the government came into power […]
Sri Lanka to obtain 100bn yen from MUFG Bank for Central Expressway phase 3
July 04, 2018 (LBO) – Cabinet has approved a proposal presented by Prime Minister to enter into an agreement with MUFG Bank in Japan to obtain 100 billion Japanese Yen for the Central Expressway Phase 3. The Government has planned to construct 32.5 km distance of the Central Expressway (Phase 3) from Potuhera to Galagedara […]
Cabinet awards Rs1.5bn contract to ACL Cables for supplying aerial conductors
July 04, 2018 (LBO) – Sri Lanka’s cabinet of ministers has approved a proposal to award a contract of supplying 2,500 km of aerial bundle conductors to ACL Cables.The proposal presented by Power Minister Ranjith Siyambalapitiya shows that the value of the contract is 1,456 million rupees.Meanwhile, the government has also decided to establish a […]
JKH hits post war valuation lows as second Balendra era beckons
Jul 04, 2018 (LBO) – The Colombo Stock Exchange has had a tough 2018, and there is no stock where this is more apparent than John Keells Holdings (JKH). JKH has been referred to as Sri Lanka’s bluest of blue chips. To many foreign institutional investors, JKH is the only stock in Sri Lanka that […]
Outgoing US ambassador to Sri Lanka meets Speaker Karu Jayasuriya
Outgoing United States Ambassador to Sri Lanka Atul Keshap has met Speaker Karu Jayasuriya yesterday.
Transparency International calls for four key amendments to National Audit Bill
Jul 04, 2018 (LBO) – Transparency International Sri Lanka (TISL) has released a legislative brief on the National Audit Bill detailing key amendments to be made in committee stage. The brief is being released ahead of a debate on the Bill in Parliament, Thursday. It highlights four key areas of concern with the provisions of the existing […]
New York Times reporter hits Sri Lankan critics with another zinger
July 3, 2018 (LBO) – Days after her controversial expose on Chinese influence in Sri Lanka, New York Times journalist Maria Abi-Habib is out with a hard hitting article detailing intimidation of Sri Lankan journalists by politicians in Sri Lanka. Her first article has reverberated throughout the Sri Lankan media and political spheres. After the […]
Colombo stocks sink to new lows with S&P SL 20 index down 10% for 2018
July 3, 2018 (LBO) – Colombo stocks continued their decline hitting new lows for 2018. Key indices were both lower with the All Share Price Index (ASPI) down .77% and the S&P SL 20 down 1.34% on the session. Turnover was a weak Rs566mn (US$3.6mn). The trend of foreign selling continued as net foreign sales […]