Author: lbostgadmin
Sri Lanka starts drafting framework for Independent Media Commission
July 18, 2016 (LBO) – Sri Lanka’s government has convinced media institutions of the need for establishing an Independent Media Commission in the country. As per the Information Department, a five-member committee has been appointed to prepare the draft. Wijayananda Jayaweera who was a former communication director at UNESCO has been appointed as its chairman. […]
Bank of England expects to ease policy rates in August
July 18, 2016 (LBO) – The Bank of England has kept its policy rates unchanged while expecting to ease its monetary policy stance next month after receiving official data on Brexit. At its meeting ending last week, the Monetary Policy Committee has voted by a majority of 8-1 to maintain bank rate at 0.5 percent, […]
Asian growth steady despite weak global prospects, Brexit: ADB
July 18, 2016 (LBO) – Growth in Asia and the Pacific’s developing economies for 2016 and 2017 will remain solid as firm performances from South Asia, East Asia and Southeast Asia help offset softness from the US economy, and near-term market shocks from the Brexit vote, says a new Asian Development Bank report. In a supplement […]
Lotus Renewable to make mandatory offer for Browns Hydro Power
July 18, 2016 (LBO) – Lotus Renewable Energy (Private) Limited says it will make a mandatory offer to buy shares of Browns Hydro Power PLC after purchasing 72.13 percent shares in the company. The company purchased 73,690,212 shares at seven rupees per share on July 13, leading up to the trading floor announcement under Rule […]
Turkey cracks down after failed coup, 6,000 arrested
July 18, 2016 (LBO) – Turkey cracked down on suspected supporters of a failed military coup on Sunday, taking the number of people rounded up in the armed forces and judiciary to 6,000. President Tayyip Erdogan and the government accused former ally Muslim cleric Fethullah Gulen who is based in the U.S., of orchestrating the […]
‘ Index shows manufacturing upswing in June
July 18, 2016 (LBO) – Sri Lanka’s manufacturing sector showed an upswing in June, after a slowdown in the previous two months, based on the Purchasing Managers’ Index (PMI) released by the Central Bank. “The Manufacturing PMI recovered to the positive territory in June 2016 registering 55.1 index points, from the contraction observed in the […]
PTL Watch: Yields up on profit taking, net foreign buying
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LOLC client Browns Power buys 60.3 pct stake in Agalawatte
July 15, 2016 (LBO) – LOLC Securities, under rule 36 of the Company Takeovers and Mergers Code, has informed the Colombo Stock Exchange that their client Browns Power Holdings (Private) Limited has purchased 60.3 percent of Agalawatte Plantations PLC. Browns Power Holdings purchased 15,200,000 Voting ordinary shares of Agalawatte Plantations PLC (AGAL.N.0000) on 14th July […]
‘s leadership at South Asia Convention
July 15, 2016 (LBO) – Prime Minister Ranil Wickremesinghe is scheduled to have bilateral discussions with Singapore’s president and premier during his three-day official visit to Singapore. Wickremesinghe will leave the country on Sunday principally to deliver the keynote address at the third South Asian Diaspora Convention which will be held in Singapore starting Monday. […]
Power Minister legalizes PUCSL regulations on safety of power supply
July 15, 2016 (LBO) – Sri Lanka’s Power Minister has taken steps to legalize the regulations made by the Public Utilities Commission on the safety of power supply through a gazette notification. Electricity safety, quality and continuity regulations, transmission performance standards regulations, distribution performance standards regulations and utility-driven demand side management regulations are areas covered […]
Chinese business delegation to visit for B2B meetings
July 15, 2016 (LBO) – A 16-member business delegation from China will be visiting Sri Lanka on the 29th July, 2016, in a visit organised by the Beijing Lansing Century Exhibition Company in association with Lanka Exhibition & Conference Services. The visit coincides with the Construction Expo 2016 to be held in Colombo. The Ceylon […]
Final bids on Yahoo core assets to conclude soon
July 15, 2016 (LBO) – The drawn-out auction for Yahoo’s core internet business will soon draw to a close, with final bids for the services, which include Yahoo’s search, email, advertising and media operations, due Monday. The board is set to make a decision soon afterward on the confidential bidding, CNBC reported. The sale of […]