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Sri Lanka’s Kotagala Plantations sells stake in Lankem Dev
Oct 11, 2016 (LBO) – Sri Lanka’s Kotagala Plantations has disposed its entire stake in Lankem Developments through the Colombo Stock Exchange at current market prices. The company said in a stock exchange filing that they sold their an equity stake of 10.04 percent in Lankem Developments represented by 6,026,500 shares. Lankem Developments today closed […]
Asian shares mixed, oil jumps on output curb expectations
SINGAPORE, Oct 11 (Reuters) – Asian shares were mixed in early Asian trading on Tuesday after oil prices surged to a one-year high and optimism over Hillary Clinton’s widening lead in the U.S. presidential election campaign pushed Wall Street higher. Brent crude rose to as high as $53.73 on Monday, the highest level since Oct. […]
Sri Lanka’s Central Bank says leaked report on Perpetual not final
Oct 10, 2016 (LBO) – Sri Lanka’s Central Bank on Monday said a complaint has been made to law enforcement authorities to inquire into the unauthorized release of a draft report on Perpetual Treasuries. There have been media coverage regarding a report related to the examination of Perpetual Treasuries conducted by the Central Bank as […]
‘s Fitch ratings summary as of October
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FM Samaraweera meets UN Special Rapporteur on Minority Issues
Minister of Foreign affairs, Mangala Samaraweera, met with Rita Izsák-Ndiaye, UN Special Rapporteur on Minority Issues today at the Ministry of Foreign Affairs. This is very first visit to the island by a Special Rapporteur on the subject of Minority Issues.
Sri Lanka Army to participate in Pakistan combat efficiency competition
A 27 member delegation of the Sri Lankan Army PACES (Pakistan Army Physical Agility and Combat Efficiency System) met with High Commissioner of Pakistan in Sri Lanka, Maj. Gen. (R) Syed Shakeel Hussain at the High Commission of Pakistan today. The delegation will travel to Lahore, Pakistan to participate in the International PACES Competition starting […]
Sri Lankan rupee down on seasonal imports; seen under pressure
Oct 10, 2016 (Reuters) – The Sri Lankan rupee fell on Monday due to seasonal importer dollar demand ahead of the festive season in December, dealers said. The local currency would be under downward pressure due to continued importer demand until the end of the year, they added. The spot rupee was quoted at 146.85 […]
Sri Lanka to limit water supply, Colombo consumption up
Oct 10, 2016 (LBO) – Sri Lanka’s Water Supply and Drainage Board has decided to limit its pump water supply in the island due to the prevailing drought condition amid increased consumption. K Alahudeen Ansar, chairman of the board, told LBO that water consumption in the Colombo District alone has increased by about 15 percent […]
Sri Lanka has too many telcos, 2017 to be transformative year: Harin
Oct 10, 2016 (LBO) – Sri Lanka’s Minister of Digital Infrastructure and Telecommunication says that the island needs to look at ways of reducing it’s telecommunication providers as it is over crowded. “We have five companies in Sri Lanka which is too much,” Harin Fernando, Minister of Digital Infrastructure and Telecommunication said. “We are trying to look at ways […]
Expo paves way for faster subcontinent cross border logistics
Oct 10, 2016 (LBO) – Expo Freight says it has achieved a significant milestone in cross border trade in the Indian subcontinent after a shipment for Marks & Spencer crossed over seamlessly to India from Bangladesh, following a trading agreement. This is the first occasion a truck carrying cargo was allowed to cross over to […]