Author: lbostgadmin
Weather to impact Sri Lanka’s tea output in 2016: report
Aug 26, 2016 (LBO) – The impact of extreme weather conditions continues to take its toll on Sri Lanka’s tea crop which is now clearly poised to show a significant negative variance over last year, Forbes & Walker Tea Brokers said in their latest report. “The 33rd sale which concluded had on offer 5.3M/kgs. In […]
Uber loses USD1.2 bln in first half on pricing battles
Aug 26, 2016 (LBO) – Ride-hailing company Uber Technologies Inc told its private investors that losses increased in the second quarter, even in the U.S., according to a Bloomberg report. In the first quarter of this year, on the whole, Uber lost about 520 million dollars before interest, taxes, depreciation and amortization, according to sources. […]
LAUGFS Lubricants opens Sri Lanka’s first Tribology Park
Aug 26, 2016 (LBO) – LAUGFS Lubricants has opened Sri Lanka’s first Tribology Park at the BOI Export Processing Park in Nittambuwa, for research and innovation dedicated to the areas of friction and lubrication. The facility offers a cutting-edge research and development centre, providing solutions especially customized for Sri Lankan driving conditions, a statement said. […]
‘s ECT
Aug 26, 2016 (LBO) – Sri Lanka is seeking a partner from the Indian subcontinent to develop a port designed to be its deepest and accommodate the world’s largest container vessels, Shipping Minister Arjuna Ranatunga told the Indian Express. The Sri Lanka Port Authority (SLPA) is looking for a foreign investor with about USD 400 […]
JKH reduces Keells Food Products stake for minimum float
Aug 26, 2016 (LBO) – Diversified John Keells Holdings says subsidiaries of the company have sold around 2 percent of shares in Keells Food Products to meet the SEC’s minimum public float rule. 413,408 shares were disposed at 160 rupees per share at August 25th amounting to 2 percent of the company’s ultimate shareholding in […]
‘s rates signal
SINGAPORE/TOKYO, Aug 26 (Reuters) – Asian stocks were steady on Friday with modest losses in some markets and gains in others reflecting nervousness before a keenly anticipated speech by U.S. Federal Reserve Chair Janet Yellen. MSCI’s broadest index of Asia Pacific shares outside Japan was little changed as investors awaited some direction from Yellen on […]
‘s subordinated debt A+(lka) (EXP)
Fitch Ratings has assigned Hatton National Bank PLC’s (HNB; AA(lka)/Stable) proposed subordinated debenture issue of up to LKR6bn an expected National LongTerm Rating of ‘A+(lka)(EXP)’. The debentures, which will have tenors of five and seven years and carry fixed coupons, will be listed on the Colombo Stock Exchange. HNB expects to use the proceeds to strengthen its Tier […]
Sri Lanka opener T M Dilshan to retire from ODI Cricket
Aug 25, 2016 (LBO) – Sri Lanka’s opening batsman T M Dilshan has decided to retire from one-day cricket after the 3rd ODI in Dambulla, Sri Lanka Cricket announced. In a statement President of Sri Lanka Cricket Thilanga Sumathipala said Sri Lanka Cricket has decided to dedicate the 3rd ODI to be played on Sunday in Dambulla to […]
Visa opens up branch in Sri Lanka to boost electronic payments
Aug 25, 2016 (LBO) – A global leader in payments technology, Visa today announced the opening of a local office in Colombo and the appointment of Anthony Watson as the Country Manager for Sri Lanka. Visa has been present in Sri Lanka since 1989 and has consolidated its position as a market leader. Speaking at […]
PTL Watch: Sri Lanka bond yields lower, follows auction
[pdf-embedder url=”http://www.lankabusinessonline.com/wp-content/uploads/2016/08/PTL-Daily-Market-Report-25th-August-2016.pdf” title=”PTL Daily Market Report 25th August 2016″]
Sri Lankan rupee down on importer dollar demand
Aug 25, 2016 (Reuters) – The Sri Lankan rupee traded weaker on Thursday led by importer dollar demand while the central bank appeared to have stopped giving a reference level for the spot currency, dealers said. The rupee has been steady for more than a week as dealers hesitated to trade the local currency below […]
Sri Lanka clarifies reports on McKenzie consultancy
Aug 25, 2016 (LBO) – Sri Lanka’s National Policy and Economic Affairs Ministry has clarified certain newspaper reports saying they were aimed at sabotaging the economic development strategy of the government. Releasing a statement the ministry said negative reports have appeared in the newspapers on the engagement of internationally reputed consultancy firms by the Government. […]