Author: lbostgadmin
Sri Lanka budget promotes inclusive growth: Lanka Securities
Nov 15, 2016 (LBO) – Sri Lanka’s budget 2017 promotes inclusive growth with an emphasis on education, infrastructure, SMEs and incentives for business, although growth and deficit targets seem ambitious, Lanka Securities said in a research note. “The projected 6.7 percent growth in economy, in our opinion is quite ambitious given the volatility in the […]
Capitol Developers launch 50-Storey Skyscraper in Uptown Colombo
(PRESS RELEASE) – Capitol Developers Limited of the Sanken Group held the groundbreaking ceremony of its latest 470 apartment twin tower project – Capitol Twin Peaks on 12 November 2016, at its strategic location at 24, Staple Street, Colombo 02. Hon. Patali Champika Ranawaka – Minister of Megapolis and Western Development graced the event as […]
Trump committed to strategic relationships including NATO, says Obama
Nov 15, 2016 (LBO) – U.S. President-elect Donald Trump is committed to maintaining the country’s strategic relationships including NATO, President Barack Obama said speaking to reporters, following a meeting between the two. “He’s going to be the next president and regardless of what experience or assumptions he brought to the office,” said Obama. “This office […]
Huawei market share surpasses 30% in Sri Lanka – GfK Report
(PRESS RELEASE) – Huawei, Sri Lanka’s fastest growing smartphone brand, had increased its market share to over 30% in Q3 according to the market research and user experience research experts GfK report. Huawei is currently ranked at number two in the smartphone market segment in Sri Lanka. Upbeat about the achievement Huawei Sri Lanka Country Head […]
‘s government: Harsha De Silva
Nov 15, 2016 (LBO) – Reconciliation is a priority for Sri Lanka’s unity government and transitional justice is an important aspect of this, Deputy Foreign Minister Harsha de Silva said. “Reconciliation is not a box that can be ticked or a journey that can end as per a timeline. There are no magic portions to […]
Asia stocks under pressure as dollar hovers near 14-year high
HONG KONG, Nov 15 (Reuters) – The U.S. dollar hovered near on a 14-year high on Tuesday and Treasury yields extended their rise as investors braced for higher inflation in the United States amid expectations of fiscally expansionary polices under Donald Trump’s presidency. The combination of the two have derailed Asian currencies and equities, […]
Sri Lanka foreign reserves drop by USD395mn in Oct: Central Bank
Nov 11, 2016 (LBO) – Sri Lanka’s official reserves dropped 394.6 million US dollars to 6.1 billion dollars in October, down from 6.5 billion dollars at the end of September, official Central Bank data showed. Foreign currency reserves were 5.1 billion US dollars and reserves in Gold were 0.91 billion US dollars. Central Bank has […]
Sri Lanka to introduce new law protecting foreign reserves
Nov 11, 2016 (LBO) – Sri Lanka has proposed to introduce a new Foreign Exchange Act to protect foreign reserves from irregular transactions. Finance Minister Ravi Karunanayake told Parliament yesterday that the current Exchange Control Act will be repealed for this purpose. An Investment Inflow Management Act will be introduced to facilitate the inward remittance […]