Author: lbostgadmin
Sri Lankan rupee edges down on importer dollar demand; stx up
COLOMBO, Nov 29 (Reuters) – The Sri Lankan rupee traded marginally weaker on Tuesday, hurt by dollar demand from importers amid fears that economic policies of U.S. President-elect Donald Trump may lead to a rise in the greenback and trigger foreign fund outflows. The market shrugged off the central bank’s key monetary policy decision on […]
CCTV, new auction system among steps to strengthen bond trading: CB
Nov 29, 2016 (LBO) – Sri Lanka’s Central Bank has taken several steps to improve supervision and regulation of the government securities market, the Central Bank governor said on Tuesday. “The Central Bank has been trying to address some very difficult issues in these areas,” Governor Indrajit Coomaraswamy said. Among steps taken, the Public Debt […]
Sri Lanka budget deficit narrows in first nine months: CB
Nov 29, 2016 (LBO) – Sri Lanka’s budget deficit narrowed to 4.1 percent of GDP during the first nine months of the year helped by an increase in tax revenue, the Central Bank said on Tuesday. The budget deficit during the same period last year was 5. 1 percent of GDP. Government revenue was 9.6 […]
Monetary Board holds interest rates unchanged
Nov 29, 2016 (LBO) – Sri Lanka’s Monetary Board held interest rates unchanged after a monthly policy meeting with excessive credit growth beginning to slow and inflation remaining stable. The Standing Deposit Facility Rate (SDFR) and the Standing Lending Facility Rate (SLFR) of the Central Bank remain unchanged at 7.00 per cent and 8.50 per […]
Opinion: Cashing in on APIs – leveraging technology to boost your business
By Sanjeewa Malalgoda, Technical Lead at WSO2 Even if you’re not an excessively tech-savvy individual, you most likely would have used a mobile application in your mobile device via an internet connection, used a Gmail client, Twitter, Facebook, or mobile apps, or purchased something online. In a tech world, you’re already reaping the benefits of […]
Sanjay Tiwari new President of the The Sri Lanka Ceramics and Glass Council
(PRESS RELEASE) – Mr. Sanjay Tiwari, Managing Director & CEO,of Piramal Glass Ceylon PLC was elected as the new President of the Sri Lanka Ceramics and Glass Council at its 3th AGM held recently at the Cinnamon Grand Hotel, Colombo. Tiwari who took over Mr. Mahendra Jayasekera, CEO, Lanka Walltiles PLC is the 4th […]
Taiwanese contractor for Apple may shift production to U.S.
Nov 28, 2016 (LBO) – Hon Hai Precision Industry, the Taiwanese contract manufacturer of Apple products, may shift its production from China to the U.S, media reports said, with “Made in China” likely to lose ground under a Trump presidency. The speculation is not new, but the President-elects threats to slap heavy tariffs on Chinese […]
Janashakthi Nurture the Next Generation of Insurance Professionals
(PRESS RELEASE) Janashakthi Insurance recognised six students of the Wayamba University ‘Insurance and Valuation Degree’ batch for their outstanding performance at a special awards ceremony recently, where the batches of 2015 and 2016 were awarded Gold, Silver and Bronze medals along with cash prizes. The specialised degree offered exclusively at the Wayamba University is powered […]
‘s Comm Bank opens money transfer from Italy
Nov 28, 2016 (LBO) – Commex Sri Lanka, a fully-owned subsidiary of Commercial Bank of Ceylon, has inaugurated its money transfer operation in Italy, following the grant of a money transfer licence from the Bank of Italy. The bank said Commex Sri Lanka of Via Giacomo Leopardi, Rome, incorporated and registered in Italy under the […]
Asian markets mixed, December rate hike eyed
Nov 28, 2016 (LBO) – Japanese stocks traded weaker on Monday after seven straight sessions of gains, with Asian markets mixed, as the U.S. dollar pulled back from decade highs. The chances of a U.S. rate hike in December, seen at 93.6 percent for a 50 to 75 basis point increase, and 6.5 percent for […]
Sri Lanka establishes resident mission in Ethiopia
Nov 28, 2016 (LBO) – Sri Lanka has established a resident mission in Addis Ababa, Ethiopia to broaden ties with the nation located in the Horn of Africa. “With a view to broadening political, trade and economic relations with Ethiopia and also forge closer relations with the African Union (AU) that is headquartered in Addis […]