Author: lbostgadmin
GAAM: Net foreign outflow of Rs656 mln last week
Download the Guardian Acuity Asset Management weekly report here [pdf-embedder url=”http://www.lankabusinessonline.com/wp-content/uploads/2016/08/Weekly-Report-GAAM-27-08-16.pdf” title=”Weekly Report GAAM 27 08 16″]
Sri Lankan firms asked to implement ‘sourcing strategies’ during a Ceylon Chamber seminar
An expert asks Sri Lankan firms to have a sound ‘sourcing strategy’ in order to help improve the overall business performance by sourcing the rights products at the right price and at the right time. Tom Albrigston, a director at the Norway based Fair Deal AS, said it is important for firms to have an […]
UK, Australia and Taiwan issue travel advisories for Singapore on Zika cases
Aug 30, 2016 (LBO) – Countries including the U.K., Australia and Taiwan have issued travel advisories for tourists to Singapore after the nation announced a further increase in Zika cases. Singapore’s Ministry of Health confirmed 15 more cases of locally-transmitted Zika virus on Monday, bringing the total number of affected to 56, CNBC reported. The […]
‘s website
COLOMBO, Aug 29 (Reuters) – Sri Lanka police on Monday arrested a 17-year old school boy on suspicion of hacking into the president’s official website, demanding that his university entrance examination dates not be changed, officials said on Monday. The website of President Maithripala Sirisena, www.president.gov.lk, was first hacked on Thursday and then again on […]
Asia stocks bounce, dollar dips on Fed hike doubts
SYDNEY, Aug 30 (Reuters) – Asian shares bounced on Tuesday as doubts the Federal Reserve really would hike rates as soon as September undermined the dollar, while investors continued to count on more policy stimulus elsewhere in the world. MSCI’s broadest index of Asia-Pacific shares outside Japan added 0.4 percent, recouping around half of Monday’s […]
China to fund Ratnapura expressway project
Aug 29, 2016 (LBO) – The EXIM bank of China has agreed to fund civil work construction of the proposed Ratnapura Expressway (73.9 kilometers) from Kahathuduwa interchange on the Southern Expressway to Pelmandulla, a statement said. “Feasibility studies, preliminary design and environmental impact assessment are being carried out at present,” a statement on the latest […]
Sri Lanka’s Volkswagen project temporarily halted: Minister
Aug 29, 2016 (LBO) – The proposed project to set up a Volkswagen car plant in Sri Lanka has temporarily been halted, Deputy Minister of Public Enterprise Development Eran Wickramaratne said. “Due to the international issues they had to face, they have decided not to invest in this project in Sri Lanka for now,” Wickramaratne […]
Fitch affirms Sri Lanka Insurance Corporation at IFS B+/Negative
Fitch Ratings has affirmed Sri Lanka Insurance Corporation Limited’s (SLIC) Insurer Financial Strength (IFS) rating at ‘B+’ with a Negative Outlook. The agency has also affirmed the National IFS rating and National Long-Term Rating at ‘AA(lka)’ with a Stable Outlook. KEY RATING DRIVERS SLIC’s IFS rating is capped by Sri Lanka’s Long-Term Local-Currency Issuer Default […]
Sri Lanka’s tea industry opposes state interference to use levy
Aug 29, 2016 (LBO) – Sri Lanka’s tea industry players have opposed the Finance Ministry’s move to appropriate the funds accumulated by Tea Board, collected from the industry, for global tea promotion. Releasing a statement, six associations in the tea industry appealed to the Government to reconsider what they called an ‘unfair’ action in deference to […]
World Bank looks at further collaboration in Sri Lanka: South Asia VP
Aug 29, 2016 (LBO) – The World Bank says it will further support Sri Lanka’s journey towards higher growth and prosperity and this will require progress across all provinces. “I hope to continue discussions that I have previously had with government to further our collaboration. We look forward to continue supporting Sri Lanka’s ambitious development […]
Virtusa, highest forex earner of computer related services at Export Awards
VirtusaPolaris, the market-facing brand of Virtusa Corporation and Polaris Consulting & Services, Ltd. and a leading worldwide provider of information technology (IT) consulting and outsourcing services, was recognized as the ‘The Highest Foreign Exchange Earner of the Computer Related Services’ for 2014 at the 20th Presidential Export Awards. Held under the patronage of His Excellency […]
Opinion: Ceylon Steel excels with standardized “Flat Iron”
By Dr Edwin Ariyadasa Making Steel Industry history in Sri Lanka, Ceylon Steel Corporation has entered in to the production of standardized “Flat Iron”. Among the welding technicians, “Flat Iron” is known as “Steel Plating”. Ceylon Steel Corporation Ltd, the pioneer in Sri Lanka Steel Industry, presents standardized flat iron to the market, along with […]