Author: lbostgadmin
Former Sri Lankan brigadier responsible for Northern ‘Ava’ gang: Rajitha
Nov 02, 2016 (LBO) – Sri Lanka’s Co-cabinet Spokesman Rajitha Senaratne on Wednesday accused a former brigadier for literally forming the ‘Ava’ violent gang during the war. Law and Order Minister Sagala Ratnayake told Parliament recently that the Police had implemented programmes to stop a crime wave in Jaffna created by this group that commits […]
Haycarb records turnover of Rs.5.9Bn and PBT of Rs.458Mn for 1H 2016/17
(PRESS RELEASE) – The Sri Lankan multinational Haycarb PLC reported a revenue of Rs. 5.9 billion and profit before tax of Rs. 458 million for the six months ending 30th September 2016. The profit after tax stood at Rs. 374 million. The turnover increased by 8%, while the profit before tax and after tax recorded […]
Sri Lankan rupee weaker on importer dollar demand
Nov 02, 2016 (Reuters) – The Sri Lankan rupee was weaker on Wednesday due to dollar demand from importers, dealers said, while the market shrugged off central bank chief Indrajit Coomaraswamy’s comment on the currency’s stability in the near future. Coomarswamy late on Tuesday said he expected the rupee to stabilise when the billion sale […]
USD1 bln expected from Hambantota port sale: CB Governor
Nov 02, 2016 (LBO) – Sri Lanka could expect a one billion dollar inflow to the economy in about five months time through the sale of a stake in the Hambantota Port, the Central Bank Governor said on Tuesday. The equity proceeds of a sale of an 80 percent stake to a Chinese investor could […]
GSP+ final decision by May 2017, tangible progress needed: EU
Nov 02, 2016 (LBO) – National reconciliation, the empowerment of women and Sri Lanka’s application for the General System of Preferences (GSP+) were the main focus of discussions of the four member delegation of the European Parliament. On GSP+, they stressed that the decision on Sri Lanka’s application will also need the approval of the […]
Monetary policy could still be considered accomodative: Central Bank
Nov 02, 2016 (LBO) – Sri Lanka’s Central Bank said on Tuesday that despite a tightening in interest rates this year, that monetary policy could still be considered accomodative. Growth in credit to the private sector could slow to around 20 percent by the end of the year, from the 27.3 percent in August, Assistant […]
Aitken Spence Travels Brings in Russian Charter to Sri Lanka
(PRESS RELEASE) – Aitken Spence Travels, the premier destination management company in Sri Lanka in collaboration with Coral Travel & their airline charter arm, Royal Flight in facilitating their first charter flight from Russia to Sri Lanka for winter 2016/17. The charter arrived this morning, 1st of November 2016 to the Bandaranaike International Airport. The […]
Asian shares, dollar rattled by U.S. election uncertainty
TOKYO, Nov 2 (Reuters) – Asian shares stumbled and the U.S. dollar was on the defensive on Wednesday as signs that Republican U.S. presidential candidate Donald Trump could be closing the gap with his Democratic rival Hillary Clinton spooked investors. Anxiety in markets has deepened over a possible Trump victory given uncertainty on the Republican […]
Asia stocks, dollar wrestle with US political risk
SYDNEY, Nov 3 (Reuters) – Asia shares eased on Thursday while the U.S. dollar stayed on the defensive as a tightening U.S. presidential race saw the S&P 500 suffer its longest losing streak in five years as investors fled to safer harbours. Sovereign bonds, gold, the yen and Swiss franc were all in favour, and […]
Sri Lankan shares hit fresh 3-mth closing low ahead of budget
Nov 01, 2016 (Reuters) – Sri Lankan shares extended losses for a third straight session to close Tuesday at a fresh three-month low as investors shrugged off the central bank’s decision to keep rates unchanged. The central bank held the benchmark interest rates on hold late on Monday, as expected, saying its monetary policy stance […]