Author: lbostgadmin
Opinion: Education – what is the objective?
By Ranjit Hulugalle Each day we have numerous articles on what is wrong with the education system, arguing that children must be taught how to think, not what to think. Frankly this has been the broken record for 70 years since the Kannangara education reforms, making education accessible to all. We simply have not corrected […]
Virtusa Announces First Quarter 2017 Consolidated Financial Results
(PRESS RELEASE) – Virtusa Corporation (NASDAQ GS: VRTU), a global business consulting and IT outsourcing company that combines innovation, technology leadership and industry solutions to transform the customer experience, reported consolidated financial results for the first quarter fiscal 2017, ended June 30, 2016. First Quarter Fiscal 2017 Consolidated Financial Results Revenue for the first quarter […]
Norwegian research vessel to assess Sri Lankan marine stocks in 2017
Aug 15, 2016 (LBO) – Norwegian funded research vessel is to visit Sri Lankan waters next year to carry out a marine stock assessment, Norwegian Prime Minister Erna Solberg said. This would be the first time an in-depth research on fish stocks and a marine survey covering the entire sea of the country conducted in […]
Sri Lanka sovereign yield falls to 5.57 pct, strong foreign interest
Aug 15, 2016 (LBO) – Sri Lanka’s 10-year sovereign bond yield dropped to 5.57 percent on Monday from initial coupon of 6.825 percent indicating strong demand from international investors for emerging market bonds. The 5-year sovereign issue has similarly fallen to 4.75 percent from 5.75 percent, with ICBC Standard Bank and Mashreq Bank of Qater […]
Usain Bolt completes amazing 100m treble in Rio
RIO DE JANEIRO, Aug 15 (Reuters) – For 9.81 glorious seconds on Sunday, all the ills that have dogged athletics recently were forgotten as Usain Bolt stormed to victory in the 100 metres final to become the first man to win three successive Olympic titles on the track. The Jamaican superstar trailed arch-rival Justin Gatlin, […]
Indian officials to visit in two weeks for ETCA talks
Aug 15, 2016 (LBO) – A delegation from India is due to arrive in Sri Lanka within the next few weeks for discussions on the proposed Economic and Technology Co-operation Agreement (ETCA). The Deputy High Commissioner for India to Sri Lanka Arindam Bagchi said this at the Sri Lanka PLAST 2016 Expo held at the […]
Sri Lanka blocks sale of freehold land in USD1.4 bln Chinese deal
Aug 15, 2016 (LBO) – Sri Lanka’s government on Friday agreed a new version of its $1.4 billion real estate agreement with China after changing the terms and blocking the outright sale of land – part of a project covering a square mile right next to the capital’s port, Reuters reported. Since coming to power […]
Sri Lanka partners Eurasian Union’s largest Expo
Sri Lanka has agreed to partner with one of the largest export exhibitions in the Eurasian Economic Union (EEU) region on 12 August. As a result, almost five million visitors attending the largest global export exhibition in the EEU region will be sampling the Lankan export portfolio for a three month long period in Astana. […]
FM Mangala’s speech on Missing Persons Bill in Parliament
On 11 August 2016, Hon. Speaker, The Office on the Missing Persons’ Bill, which we will be debating today in this House, I believe heralds a new beginning, a new era of peace and reconciliation for our long suffering country. 68 years after Independence, two youth insurrections, and a 26 year old war, Sri Lanka […]
Aitken Spence records 31-pct top line growth in Q1
Reflecting top line growth across all sectors – tourism, maritime and logistics, strategic investments and services; leading blue chip – Aitken Spence PLC posted a revenue figure of Rs. 7.5 Billion in the first quarter of the 2016/17 financial year, a 31% increase from the previous year’s Rs. 5.8 Billion. The top line growth is […]
Commercial Bank carries solid growth momentum into 2nd quarter of 2016
The Commercial Bank of Ceylon has extended its growth momentum into the second quarter of the year to record robust performance indicators for the six months ending 30th June 2016 amidst increasing costs of funds and shrinking margins. Sri Lanka’s benchmark private bank has reported profit before VAT and NBT of Rs 10.391 billion recording […]
‘s HDFC Bank at BBB(lka); outlook stable
Fitch Ratings has affirmed Housing Development Finance Corporation Bank of Sri Lanka (HDFC Bank) National Long-Term Rating at ‘BBB(lka)’. The Outlook is Stable. The agency also affirmed HDFC Bank’s senior secured and senior unsecured debentures at ‘BBB(lka)’. KEY RATING DRIVERS HDFC Bank’s National Long-Term Rating reflects Fitch’s expectation that the bank would receive extraordinary support […]