Author: lbostgadmin
Hirdaramani opens new operation center for its shared services teams
Hirdaramani is proud to announce the opening of ‘The Hub’, a new purpose-built centre of operations to house the core group Shared Services functions, namely, Finance Shared Services & Commercial under the ‘H Connect’ brand and IT under the ‘H One’ brand. The impressive new building will also house a learning and training facility and […]
Colombo Stock Exchange lifts trading ban on Brac Lanka Finance
Dec 15, 2016 (LBO) – Sri Lanka’s securities watchdog, the Securities & Exchange Commission has instructed the Colombo Stock Exchange to lift the trading ban imposed on Brac Lanka Finance. The SEC earlier imposed a trading suspension on Brac Lanka Finance under section 246 of the Companies Act. The securities regulator thereafter specified a procedure […]
Sri Lankan rupee weakens as c.bank raises reference rate after Fed move
COLOMBO, Dec 15 (Reuters) – The Sri Lankan rupee edged lower on Thursday as the central bank raised the spot reference rate further, a day after the U.S. Federal Reserve hiked interest rates by 25 basis points, dealers said. The Fed raised interest rates on Wednesday and signalled a faster pace of increases in 2017 […]
Sri Lankan shares hit more than 2-wk closing low; Fed rate hike weighs
Dec 15, 2016 (Reuters) – Sri Lankan shares fell in line with regional bourses to close at their lowest in more than two weeks on Thursday, as a 25-basis-point interest rate increase by the U.S. Federal Reserve and hints of more to come next year kept investors on tenterhooks. The Fed signalled a faster pace […]
‘s first year
Dec 15, 2016 (Reuters) – The U.S. Federal Reserve raised interest rates on Wednesday and signaled a faster pace of increases in 2017 as central bankers adapted to the incoming Trump administration’s promises of tax cuts, spending and deregulation. The increase in the federal funds rate to a range of between 0.50 percent and 0.75 […]
PUCSL warns of power shortages in Q1 2017
Dec 15, 2016 (LBO) – The Public Utilities Commission of Sri Lanka (PUCSL), the regulator of the state-run CEB, issued a warning after observing the risks in December that included only two of three generators at the Lakvijaya coal power plant being in working condition and possibility of inadequate rainfall. “Only two units of Lakvijaya Plant are […]
Sri Lanka vulnerable to direct and indirect effects of sustained capital outflows: Moodys
Dec 15, 2016 – Sri Lanka has been named as one of the countries that have the highest vulnerability to the direct and indirect effects of sustained capital outflows, according to a new report of Moody’s Investors Service. “Overall, vulnerability to the direct and indirect effects of sustained capital outflows is highest for Mongolia, Sri […]
Hong Kong, China stocks fall after Fed rate hike
SHANGHAI, Dec 15 (Reuters) – Hong Kong stocks slumped on Thursday morning along with other Asian markets, after the U.S. Federal Reserve raised interest rates and signalled a faster-than-expected pace of policy tightening, reducing the appeal of emerging market assets. Chinese shares, with less exposure to global market volatility due to strict capital controls, dropped […]
Economists cut Singapore growth expectations for 2016 & 2017
Dec 14, 2016 (LBO) – Economists are expecting a slower than expected growth for this year as falling global trade hinders country’s export growth, Singapore’s central bank survey showed. 22 economists polled by the Monetary Authority of Singapore (MAS) expect the GDP growth to come in at 1.4 percent in 2016, a decline from the […]
Mastercard joins with Uber to reward Sri Lankan cardholders with free rides
Mastercard and Uber announced their partnership to reward cardholders in Sri Lanka with free Uber rides for payments made using their Mastercard credit cards on the Uber app. New users signing up for the Uber App for the first time will be awarded two free rides (of up to LKR 250 each) when they register […]
Former Defence Secretary Gotabhaya Rajapaksa visits Japan
Former Defence Secretary Gotabhaya Rajapaksa who arrived at Japan’s Narita International Airport yesterday afternoon were welcomed by a group of Sri Lankans in Japan. Gotabhaya Rajapaksa is accompanied by Parliamentarians Rohitha Abeygunawardena, Udaya Gammanpila and Niroshan Premaratne. The group has participated with a ‘Bhodhi Pooja’ and few other events.
Central Bank approves Richard Pieris, Chilaw Finance amalgamation
Dec 14, 2016 (LBO) – Sri Lanka’s Central Bank has granted approval for the amalgamation of Clilaw Finance with Richard Pieris Finance, by taking over all the assets and liabilities of Clilaw Finance. Following the approval granted by the Central Bank on 05th December, the Board of Directors of Richard Pieris Finance has approved the […]