Author: lbostgadmin
‘s maintains stable outlook on Sri Lankan banking sector
Dec 01, 2016 (LBO) – Moody’s Investors Service has maintained its stable outlook on Sri Lanka’s banking system, as moderate economic growth and reduced external volatility should keep operating conditions for the country’s banks stable. “Continued strong loan growth may put downward pressure on asset quality and liquidity conditions, but nonperforming loan (NPL) ratios will […]
Sri Lankan rupee eases on importer dollar demand; stx up
Dec 01, 2016 (Reuters) – The Sri Lankan rupee eased slightly on Thursday due to importer dollar demand in dull trade on fears that economic policies of U.S. President-elect Donald Trump may lead to a rise in the greenback and trigger foreign fund outflows. Dealers see the rupee being under pressure till seasonal inward remittances […]
Comm Bank, Dunamis Capital and Aitken Spence win at CSE Masterminds 2016
(PRESS RELEASE) – Commercial Bank of Ceylon PLC won the inaugural capital market quiz organized by the Colombo Stock Exchange (CSE) recently. Dunamis Capital PLC and Aitken Spence PLC emerged as the First and Second Runners-Up of the competition, which was held at the CSE Trading Floor. The competition, for which entrance was exclusive and […]
Sri Lanka approves two wind power plants in Chunnakam
Dec 01, 2016 (LBO) – Sri Lanka’s cabinet has given the approval to award tenders establish two wind power plants of 10 megawatts each in Chunnakam. “The government has paid its attention on generating a larger portion of electricity requirement by renewable energy sources and it is proposed to establish solar and wind power plants,” […]
Oil, dollar and bond yields sharply higher after OPEC deal
TOKYO, Dec 1 (Reuters) – Crude prices, the dollar and bond yields were sharply elevated early on Thursday after OPEC agreed to a deal to reduce output to clear a supply glut that has crunched oil prices and stoked global deflationary pressures. The Organization of the Petroleum Exporting Countries on Wednesday agreed to its […]
‘s Eswaran Brothers wins Gold for environmental best practices
Dec 01, 2016 (LBO) – Sri Lanka’s tea company Eswaran Brothers Exports has won the Gold Award for environmental best practices at London’s Green Apple Environment Awards, ranking alongside companies like IKEA and Toshiba for its commitment to the environment. “It’s an honour to be recognised for the work that we are doing with the […]
Asia flat following a weaker Wall Street as Treasury yields hit 16-mth high
lbo.lk,lboSINGAPORE, Dec 2 (Reuters) – Asian shares were flat in early trade on Friday following mostly sluggish sessions on Wall Street and Europe, as 10-year U.S. Treasury yields surged to near 18-month highs and crude futures soared to 16-month highs. MSCI’s broadest index of Asia-Pacific shares outside Japan was little changed, but remained on […]
LOLC Group inks deal with Club Mediterranee for Sri Lanka’s first Club Med Resort
The LOLC Group and Club Mediterranee – France, signed a historic agreement on 25th November 2016 which will witness the Riverina Resort in Beruwela being branded as the First Club Med Resort in Sri Lanka. The landmark agreement was signed between LOLC Group Managing Director/CEO, Mr. Kapila Jayawardena and Mr. Henri Giscard d’Estaing, President and […]
Sri Lanka’s CCPI inflation down to 3.4 pct in Nov
Nov 30, 2016 (LBO) – Consumer prices in Sri Lanka’s capital Colombo accelerated 3.4 percent in November 2016 from a year earlier, but down from 4.2 percent in October, the state statistics office data showed. Year-on-year inflation of the “Food Group” decreased from 6.0 percent in October to 2.9 percent in November, while that of […]
New legal framework for solar in Sri Lanka, no more licences
Nov 30, 2016 (LBO) – Sri Lanka’s power regulator, Public Utilities Commission of Sri Lanka (PUCSL), has decided to remove the legal barriers for consumers who wish to enter into electricity generation based on solar power. “It has been proposed to exempt the electricity consumers, who generate electricity in small scale through rooftop solar power […]
Sri Lanka to improve essential utility services in Western Megapolis
Nov 30, 2016 (LBO) – Sri Lanka’s cabinet has granted approval to improve new utilities and infrastructure required for the Western region Megapolis. It is expected that there will be an increased demand for essential utility services such as transport, electricity, water, drainage and waste disposal with the implementation of the main plan of the […]
Sri Lankan rupee edges up on exporter dollar sales; stx up
Nov 30, 2016 (Reuters) – The Sri Lankan rupee was trading slightly higher on Wednesday, as exporter dollar sales surpassed importer demand for the greenback after the central bank said it was in advance talks with China Development Bank for a $200 million swap. However, dealers expect the rupee to be under pressure till seasonal […]