Author: lbostgadmin
Sri Lankan rupee edges down on importer dollar demand
July 27, 2016 (Reuters) – The Sri Lankan rupee edged down on Wednesday due to importer dollar demand as hopes of the currency’s appreciation after a recent sovereign bond inflow evaporated, dealers said. One-week rupee forwards, which have been acting as a proxy for the spot rupee, traded at 146.20/40 per dollar, slightly weaker than […]
Yaddehige obtains interim order against NDB Bank resolution
July 27, 2016 (LBO) – Dr Sena Yaddehige has obtained an interim order restraining NDB Bank from tabling a resolution that contravenes its corporate governance obligations and articles of association, his lawyers said. According to the order granted by the Commercial High Court, NDB cannot table the resolution to its shareholders that removes the requirement […]
Sri Lanka’s Cabinet approves USD318mn Indian credit line for railway
July 27, 2016 (LBO) – Sri Lanka’s Cabinet has approved the proposed 318 million US dollars Indian credit line for the development of the country’s railway sector. The credit line was proposed during the Indian Prime Minister’s 2015 official visit to Sri Lanka and will be provided through the EXIM Bank of India. Part of […]
PTL Watch: Yields dip, eyes on monetary policy
[pdf-embedder url=”http://lbo-stg.efserver.net/wp-content/uploads/2016/07/PTL-Daily-Market-Report-27th-July-2016.pdf”]
NDBIB wins ‘Sri Lanka’s Best Investment Bank2016’ by Euromoney
(PRESS RELEASE) – NDB Investment Bank, which completed a record breaking year in 2015 raising a mammoth LKR 60 Bn, was awarded ‘Sri Lanka’sBest Investment Bank 2016’ by the prestigious Euromoney Magazine. This marks the fifth consecutive year NDBIB has been bestowed with this highly acclaimed award. The award was presented at a gala event […]
Porsche in Berlin: World premiere of the new Panamera
Press Release: Berlin. Porsche this week celebrated the world premiere of the new Panamera in Berlin to a spectacular display of lights, music and choreography. Over 300 international media representatives – as well as guests from politics, business, sports and society – saw the unveiling for the first time. The new Porsche Panamera reconciles two […]
Canadian FM visits Sri Lanka to help with human rights
July 27, 2016 (LBO) – Canada’s Foreign Affairs Minister Stéphane Dion is to visit Sri Lanka until July 29 to advance bilateral relations and to support Sri Lanka in its efforts to promote human rights, reconciliation and accountability. Canadian government announced that the Foreign Minister will meet with President Maithripala Sirisena, Prime Minister Ranil Wickremesinghe, […]
ADB approves USD115mn loan for power sector in Sri Lanka
Jul 27, 2016 (LBO) – The Asian Development Bank (ADB) has approved a loan of 115 million US dollars and 3.8 million in grants to help Sri Lanka achieve 100 percent electrification and improve the reliability of electricity supply, a statement said. “Sri Lanka’s national electrification rate has gone from 29 percent to 98 percent in […]
China special investment zone to create 1mn jobs in Hambantota
Jul 26, 2016 (LBO) – The Chinese government has requested for 15,000 acres of land in Hambantota for a special economic zone that will create around one million job in this area, the Minister of Development Strategies and International Trade said Tuesday. “Apart from the Chinese Free Trade Agreement, Chinese officials are also in discussions […]
National Trade Union Center wants to defeat ETCA
July 27, 2016 (LBO) – The National Trade Union Centre on Tuesday started a program to deliver a million leaflets to inform the public about the issues of the proposed ETCA agreement India. At the program which commenced at the Colombo Fort Railway Station, Chairman of the Center Lal Kantha said the loss of local […]
Asian shares edge up on Wall Street lead, pre-Fed nerves limit gains
TOKYO, July 27 (Reuters) – Asian stocks edged up early on Wednesday following a relatively upbeat session overnight for U.S. and European stocks, with caution ahead of the Federal Reserve’s policy decision capping gains. The safe-haven yen sat atop large gains as hopes for a large fiscal stimulus package out of Japan faded. MSCI’s […]
Malik assures ETCA and other FTAs won’t impact local jobs
Jul 26, 2016 (LBO) – Sri Lanka is currently at the formulating stage of Free Trade Agreements with China and Singapore and an “Economic Technology Cooperation Agreement” with India but these agreements will not lead to locals losing jobs, a minister said. “The government will not consider Mode 4 of the general trade agreement on […]