Author: lbostgadmin
Sri Lankan rupee ends weaker on importer dollar demand
Nov 01, 2016 (Reuters) – The Sri Lankan rupee ended weaker on Tuesday due to dollar demand from importers, dealers said, a day after the country’s central bank kept key policy rates steady. Despite the rupee being under downward pressure, the central bank kept its benchmark interest rates on hold late on Monday, as expected, […]
Illegal arrest, torture and harassment continuing in Sri Lanka: AHRC
Nov 01, 2016 (LBO) – The Asian Human Rights Commission (AHRC) said on Tuesday an individual illegally arrested and tortured in Ja-Ela, and the harassment of a priest in Wattegama, are examples of failure to uphold the rule of law in Sri Lanka. The individual in Ja-Ela was produced before the Negombo Magistrate on a […]
Sri Lanka ranks 31st in Global Youth Development Index
Nov 01, 2016 (LBO) – Sri Lanka has been ranked 31st in the Global Youth Development Index (YDI) 2016 based on a country’s condition for the youth in terms of employment, education, health, civic and political spheres. The YDI is a composite index of 18 indicators that collectively measure multi-dimensional progress on youth development in […]
Sierra starts joint venture in Fiji to manufacture power cables
Nov 01, 2016 (LBO) – Sri Lanka’s Sierra Cables has decided to jointly invest in a new power cable manufacturing plant in Fiji, the company said in a stock exchange filing. Sierra Cables said it entered the joint venture agreement with three Fijian companies namely Vinod Patel & Co. Ltd, RC Manubhai & Co. Ltd […]
DPL First six months records Rs.11.5Bn Revenue
(PRESS RELEASE) – Group turnover for the 1st half of the financial year was Rs. 11.5 billion, compared to Rs.10.9 billion for the same period of the previous year. The Hand Protection sector contributed a modest Rs 7.0 billion to the Group’s top line, while the Plantation sector recorded a turnover of Rs. 4.5 billion […]
Asia stocks wallow at 6-wk lows, China PMIs in focus; oil down
HONG KONG, Nov 1 (Reuters) – Asian stocks wallowed near six-week lows on Tuesday as investors braced for a looming raft of economic and central bank events, while oil prices fell as markets doubted OPEC’s ability to implement planned production cuts. Market anxiety deepened in recent sessions after the Federal Bureau of Investigation on Friday […]
Sri Lanka Central Bank keeps rates steady ahead of budget
Oct 31, 2016 (LBO) – Sri Lanka’s central bank on Monday decided to keep its key interest rates steady, a few days ahead of the national budget. Accordingly, the Standing Deposit Facility Rate and the Standing Lending Facility Rate of the Central Bank will be maintained at 7.00 percent and 8.50 percent, respectively. Monetary Policy […]
Sri Lanka’s CCPI inflation up 0.3 pct points in Oct 2016
Oct 31, 2016 (LBO) – Consumer prices in Sri Lanka’s capital Colombo accelerated 4.2 percent in October 2016 from a year earlier, up from 3.9 percent in September, the state statistics office data showed. Inflation of the food group increased from 5.5 percent in September to 6.0 percent in October while that of non-food group […]
Sri Lanka’s Speaker Karu Jayasuriya chairs IPU Emergency Session on Syria
Karu Jayasuriya, Speaker of the Parliament, attending the 135th Session of the Inter Parliamentary Union (IPU) Assembly in Geneva, was invited to chair the emergency session on Syria called by the IPU Assembly on 25th October. The Session had before it a Resolution titled “The war and the severe humanitarian situation in Syria, particularly in […]
Korea Eximbank checks feasibility to create ICT hub in Sri Lanka
Oct 31, 2016 (LBO) – South Korea’s export and import bank is planning to conduct a comprehensive feasibility study to establish an ICT Hub for secondary education in Sri Lanka through a joint consulting firm. Sri Lanka has identified that the availability of highly skilled labor force is vital to the economic growth as well […]
Sri Lankan rupee weaker; remittances prevent steeper fall
Oct 31, 2016 (Reuters) – The Sri Lankan rupee traded weaker on Monday due to importer dollar demand, but the month-end inward remittances capped the fall, dealers said. Rupee forwards were active, with one-week forwards trading slightly weaker at 148.30/40 per dollar compared with Friday’s close of 148.25/30. “The month-end inward remittances are there, but […]
South Asia Textiles embarks on USD3mn expansion
Nov 01, 2016 (LBO) – Textile manufacturer South Asia Textiles says it will extend its one billion rupee expansion program with a three million dollar investment in state-of-the-art technology. “Some of the machinery to be introduced will be the aerodynamic Air-Flow textile dye machines with absolute minimal usage of water, a continuous washer which saves […]