Author: lbostgadmin
Sri Lanka to consider IMF option next year: PM
Dec 02, 2015 (LBO) – Sri Lanka will consider a stand-by facility from the IMF next year, Prime Minister Ranil Wickremesinghe told parliament. “Next year will present a difficult economic environment. Sri Lanka could face an impact of the ISIS in the Middle East, in case the region is destabilized,” Wickremesinghe said “I think it […]
Sri Lanka’s Carsons to sell Malaysian, Indonesian plantations
Dec 02, 2015 (LBO) – Sri Lanka’s Carson Cumberbatch Group said four of it’s subsidiary would sell its Malaysian and Indonesian plantations subject to a feasibility study and approvals from regulators and shareholders. The four firms are Selinsing, Good Hope, Indo Malay and Shalimar, the Group said in separate stock exchange filling. “The firms also […]
Sri Lanka aims for high end tourists under Megapolis plan
Dec 02, 2015 (LBO) – Sri Lanka will streamline its tourist industry and move towards attracting high end visitors through the Megapolis and Western Province development programme, Minister Champika Ranawaka said.“While developing IT led innovation towns from Homagama to Malambe under the Megapolis project we have also chosen Aluthgama to be converted into a high-end […]
Fireside chat with Kris Canekeratne, Chairman and Chief Executive Officer of Virtusa Corporation
Kris Canekeratne, Chairman and the Chief Executive Officer of Virtusa Corporation speaks to Lakshaman Bandaranayake, Founding publisher of LBO on the recent acquisition of Polaris by Virtusa. Virtusa Corporation is a NASDAQ listed global information technology services company providing IT consulting, technology and outsourcing services to Fortune 500 companies. https://youtu.be/CnPYbPTlP0w
Sri Lanka stocks close down 0.20-pct
Dec 01, 2015 (LBO) – Sri Lankan stocks closed down at 0.20 percent for the fifth straight day on Tuesday on sustained selling pressure triggered by weak domestic cues, brokers said. The Colombo benchmark All Share Price Index closed down 13.96 points at 6,895.19 down 0.20 percent. S&P SL20 closed 6.35 points lower at 3,651.69 down 0.17 […]
PM awaits proposals from Central Bank and EPF on EPF, ETF merger
Dec 01, 2015 (LBO) – Sri Lanka’s Prime Minister Ranil Wickramasinghe told Parliament Tuesday that they have decided to obtain proposals from Central Bank governor and superintendent of EPF with regard to the management of EPF. “During the discussions, unions said it is appropriate to maintain these two funds separately. They also said the EPF […]
PTL Watch: Dip in bond yields on thin volumes
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Embark’s new Christmas concept – product range a call to ‘Love the Fashion, Feel the Passion’
This season, Embark, the unique fashion label with a cause, has promised ‘a shopping experience from the heart’ with a refreshingly sincere Christmas campaign involving its people, and a product range that reflects the compassion and commitment that the programme is all about.Faces from Embark’s very own team, along with passionate individuals who are committed to make a […]
Oman Air celebrates six years of successful operations in Sri Lanka
The national airline of the Sultanate of Oman, Oman Air recently celebrated six years of successful operations in Sri Lanka. Over the years, Oman Air has experienced momentous growth in Sri Lanka and has gained a reputation for offering affordable flights, a luxurious travel experience and world-class standards of service. Commenting on the occasion, Gihan […]
IMF includes Yuan in reserve currency basket
Dec 01, 2015 (LBO) – The International Monetary Fund has included the Chinese yuan as a fifth currency in their basket of currencies that make up the Special Drawing Rights (SDR). Effective from October 1, 2016 the Chinese Yuan is determined to be a freely usable currency along with the US dollar, the euro, the […]
Narendra Modi launches international solar alliance at COP 21
Dec 01, 2015 (LBO) – India’s prime minister Narendra Modi has launched an international solar alliance of over 120 countries at the Paris COP21 climate summit. The conference of world leaders with over 25,000 official delegates is seen as historic and aims to clinch a deal on greenhouse gas emissions. “India has emerged as the […]
Single party owns 95 pct of govt securities available to foreign investors
Dec 01, 2015 (LBO) – A single foreign party owns 95 percent of Sri Lanka’s government securities available to foreign investors, raising questions about risk-management practices of the Central Bank.Funds of Franklin Templeton held around 290 billion rupees in government securities, out of 304 billion rupees of securities available to foreign investors, according to published […]