Author: lbostgadmin
Dollar caught in crossfire as Trump talks currency wars
SYDNEY, Feb 1 (Reuters) – The dollar was put on the defensive in Asia on Wednesday after the Trump administration accused Germany and Japan of devaluing their currencies to gain a trade advantage, fuelling a risk-off mood that also kept stocks subdued. The U.S. currency suffered its worst January in three decades after President Donald […]
Pan Asia Bank gets 3 months to comply with interim capital requirements
Feb 01, 2017 (LBO) – Sri Lanka’s Central Bank has extended the time period allocated to raise the interim capital requirement of Pan Asia Bank by three months. The bank said in a stock exchange filing that the Monetary Board of the Central Bank has extended the period to comply with the interim requirement from […]
Sri Lanka’s CCPI inflation up in January amid base year revision
Jan 31, 2017 (LBO) – Consumer prices in Sri Lanka’s capital Colombo accelerated to a six-month high of 5.5 percent in January 2017 from a year earlier, up from 4.5 percent in December, the state statistics office data showed. The moving average inflation rate for the month of January was a high of 4.3 percent […]
‘s Rs.10.4Bn electricity connection deposits
Feb 02, 2017 (LBO) – Sri Lanka’s power regulator has issued guidelines to the Ceylon Electricity Board (CEB) and the Lanka Electricity Company (LECO) to pay interest on security deposits amounting to 10.4 billion rupees as of end 2014 of electricity consumers when providing a connection. “CEB has about 10.4 billion rupees deposit (end 2014) […]
Several Sri Lankan sectors can attract smart capital: Stax
Jan 31, 2017 (LBO) – The next three to five years will be a window of opportunity in which Sri Lankan companies in healthcare, hospitality, education, and export industries can attract smart capital, a consulting firm that advises leading private equity (PE) funds worldwide said. “With the right positioning and evidence of high growth, such […]
Obama’s new house vs. Trump’s former home
Obama’s new home is valued at between $ 5. 4 million and $ 6 million. Trump’s Penthouse is valued at 0 million. The inaugural ceremony of the 45th US President took place on January 20, and one of the things people have wondered about, seeing Barack Obama leave the White House, is where he will […]
Sri Lankan rupee steady; under pressure to depreciate
Jan 31, 2017 (Reuters) – The Sri Lankan rupee was steady on Tuesday in dull trade but dealers said the currency was under depreciation pressure with foreign investors exiting government securities. Rupee forwards were active, with two-week forwards trading at 151. 00/10 per dollar at 0524 GMT, unchanged from Monday’s close. The spot rupee was […]
Opinion: Economic Priorities in Sri Lanka’s Foreign Policy
By Deshal de Mel Context Sri Lanka is a small island economy with a population of 20.9 million and an economy of GDP US$ 82 billion (which is less than Apple’s 2015 gross profit of US$ 89 billion). Sustained growth of enterprise requires economies of scale, which in a country of Sri Lanka’s size, necessarily entails […]
Trump dumps top lawyer who defied immigration order
Jan 31, 2017 (Reuters) – U.S. President Donald Trump fired top federal government lawyer Sally Yates on Monday after she took the extraordinarily rare step of defying the White House and refused to defend new travel restrictions targeting seven Muslim-majority nations. It was another dramatic twist in the unusually raucous roll-out of Trump’s directive that […]
IIT holds big data analytics forum for IT & corporate professionals
Making decisions based on the analysis of Big Data is the secret to success of many organizations in today’s competitive business world. With the aim of providing insight into the new trends of Big Data, the Informatics Institute of Technology (IIT) recently held the Big Data Analytics Tech Forum at BMICH. Several industry leaders, senior […]
‘s Ceylon Tabacco to close two leaf depots
Jan 31, 2017 (LBO) – Sri Lanka’s Ceylon Tobacco Company PLC (CTC) announced that it will be closing its leaf depots situated in Anuradhapura and Sigiriya due to the impact of tax hikes despite an increase in profits reported last year. “It is no secret that the excise and VAT hikes in October and November […]
