Author: lbostgadmin
Emirates offers up to 50-pct off on travel from Colombo
(PRESS RELEASE) –As festive cheer and the attendant frenzy of shopping begin to manifest, Emirates has unveiled an incredible pre-season sale in Sri Lanka, offering whopping fare discounts of up to 50 per cent to destinations around the world. Travellers who book and pay for their tickets before Saturday, 10th December 2016 will be benefitted […]
Brandix, IUCN collaborate to monitor Kelani River water
Dec 01, 2016 (LBO) – Sri Lankan apparel exporter Brandix will fund a project by the International Union for Conservation of Nature (IUCN) to monitor the water quality in the Kelani River Basin as a prelude to a larger initiative for the Basin’s management and conservation. “The first year of the project will encompass an assessment […]
President orders IGP to identify VIP security vehicles
Dec 01, 2016 (LBO) – Sri Lanka’s President Maithripala Sirisena has ordered the Inspector General of Police to report back to him about those who use a convoy of back-up vehicles for their security. Speaking at the inaugural road safety week, President Sirisena said this task will officially commence from 1st January. Accordingly, Police will […]
‘s maintains stable outlook on Sri Lankan banking sector
Dec 01, 2016 (LBO) – Moody’s Investors Service has maintained its stable outlook on Sri Lanka’s banking system, as moderate economic growth and reduced external volatility should keep operating conditions for the country’s banks stable. “Continued strong loan growth may put downward pressure on asset quality and liquidity conditions, but nonperforming loan (NPL) ratios will […]
Sri Lankan rupee eases on importer dollar demand; stx up
Dec 01, 2016 (Reuters) – The Sri Lankan rupee eased slightly on Thursday due to importer dollar demand in dull trade on fears that economic policies of U.S. President-elect Donald Trump may lead to a rise in the greenback and trigger foreign fund outflows. Dealers see the rupee being under pressure till seasonal inward remittances […]
Comm Bank, Dunamis Capital and Aitken Spence win at CSE Masterminds 2016
(PRESS RELEASE) – Commercial Bank of Ceylon PLC won the inaugural capital market quiz organized by the Colombo Stock Exchange (CSE) recently. Dunamis Capital PLC and Aitken Spence PLC emerged as the First and Second Runners-Up of the competition, which was held at the CSE Trading Floor. The competition, for which entrance was exclusive and […]
Sri Lanka approves two wind power plants in Chunnakam
Dec 01, 2016 (LBO) – Sri Lanka’s cabinet has given the approval to award tenders establish two wind power plants of 10 megawatts each in Chunnakam. “The government has paid its attention on generating a larger portion of electricity requirement by renewable energy sources and it is proposed to establish solar and wind power plants,” […]
Oil, dollar and bond yields sharply higher after OPEC deal
TOKYO, Dec 1 (Reuters) – Crude prices, the dollar and bond yields were sharply elevated early on Thursday after OPEC agreed to a deal to reduce output to clear a supply glut that has crunched oil prices and stoked global deflationary pressures. The Organization of the Petroleum Exporting Countries on Wednesday agreed to its […]
‘s Eswaran Brothers wins Gold for environmental best practices
Dec 01, 2016 (LBO) – Sri Lanka’s tea company Eswaran Brothers Exports has won the Gold Award for environmental best practices at London’s Green Apple Environment Awards, ranking alongside companies like IKEA and Toshiba for its commitment to the environment. “It’s an honour to be recognised for the work that we are doing with the […]
Asia flat following a weaker Wall Street as Treasury yields hit 16-mth high
lbo.lk,lboSINGAPORE, Dec 2 (Reuters) – Asian shares were flat in early trade on Friday following mostly sluggish sessions on Wall Street and Europe, as 10-year U.S. Treasury yields surged to near 18-month highs and crude futures soared to 16-month highs. MSCI’s broadest index of Asia-Pacific shares outside Japan was little changed, but remained on […]
LOLC Group inks deal with Club Mediterranee for Sri Lanka’s first Club Med Resort
The LOLC Group and Club Mediterranee – France, signed a historic agreement on 25th November 2016 which will witness the Riverina Resort in Beruwela being branded as the First Club Med Resort in Sri Lanka. The landmark agreement was signed between LOLC Group Managing Director/CEO, Mr. Kapila Jayawardena and Mr. Henri Giscard d’Estaing, President and […]
Sri Lanka’s CCPI inflation down to 3.4 pct in Nov
Nov 30, 2016 (LBO) – Consumer prices in Sri Lanka’s capital Colombo accelerated 3.4 percent in November 2016 from a year earlier, but down from 4.2 percent in October, the state statistics office data showed. Year-on-year inflation of the “Food Group” decreased from 6.0 percent in October to 2.9 percent in November, while that of […]