Author: lbostgadmin
Three Sri Lankans honoured by Japanese Foreign Minister
Kenichi Suganuma, Ambassador of Japan, formally awarded the Foreign Minister’s Commendations to Upali Stanley Jayasekera, Chitral Jayawardane and G.Kulatilake of Sri Lanka, at a special ceremony held on 26rd October, 2015 at the Ambassador’s residence in Colombo.The Foreign Minister’s Commendations are awarded to individuals and groups for their outstanding achievements in international fields, to acknowledge […]
PTL Watch: Sovereign bond attracts local investors to bonds
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Sri Lanka Treasury bill yields down
Oct 28, 2015 (LBO) – Sri Lanka’s Treasury bill yields were down on Wednesday’s auction, data from the state debt office showed.The 3-month yield was down to 6.61 percent with bids amounting to 30.8 billion rupees being received and it was decided to accept 3 billion rupees from the auction.The 06 month yield was also […]
Dialog Axiata partners with Ericsson for Managed Enterprise Cloud in Sri Lanka
Oct 28, 2015 (LBO) – Sri Lanka’s largest connectivity provider Dialog Axiata has partnered with Ericsson to make Managed Enterprise Cloud services in Sri Lanka. Managed Enterprise Cloud enables operators to create and provide white-label enterprise software services flexibly and effectively. Ericsson will install and integrate the Managed Enterprise Cloud framework in Dialog’s data center […]
Sri Lanka Watawala Plantation profits up; palm oil supports bottom-line
Oct 28, 2015 (LBO) – Sri Lanka’s Watawala Plantations said it made a profit of 141 million rupees in the September 2015 quarter, up 354 percent, compared with 31 million rupees in the same quarter last year, supported by palm oil segment. The firm reported earnings of 55 cents per share for the quarter, the […]
‘s CCC, Japan Kansai to promote trade and investment
Oct 28, 2015 (LBO) – Sri Lanka’s Ceylon Chamber of Commerce (CCC) signed an ‘Agreement of Cooperation’ to promote two way commercial ties with Japan’s Kansai Economic Federation, a statement said. “It enables both sides to exchange information on economic and business trends in the two countries, cooperate in trade, investment, environment conservation and energy-saving […]
Over 60 pct of World Economies Improved Business Rules: WB
Oct 28, 2015 (LBO) – Developing economies quickened the pace of their business reforms during the last 12 months to make it easier for local businesses to start and operate, says the World Bank Group’s annual ease of doing business measurement. “A modern economy cannot function without regulation and, at the same time, it can […]
Sri Lanka raises USD1.5bn in Sovereign Bond issue: report
Oct 28, 2015 (LBO) – Sri Lanka has raised 1.5 billion dollars from a 10-year sovereign bond issued to international investors at 6.85 percent, a report said. The initial price guidance of 7 percent was lowered with order books exceeding 3.3 billion dollars. In May, Sri Lanka raised 650 million dollars via a 10-year sovereign […]
Sri Lanka’s rupee is way over sold, says technical analyst
Oct 28, 2015 (LBO) -Sri Lanka’s rupee which was floated in September is way over sold and won’t depreciate further, an analyst said. “The LKR has depreciated quite a bit in last 18 months. The effects may already be visible in your exports.But is it going to depreciate further?I don’t think so,” Akshay Chinchalkar, head […]
Sri Lanka 10-year sovereign bond gets orders over USD2.5 bn: report
Oct 27, 2015 (LBO) – Sri Lanka has opened a 10-year sovereign bond issue to international investors with a price guidance of 6.85 percent to raise at least 500 million dollars, media reports said. The initial price guidance of 7 percent was lowered with order books exceeding 2.5 billion dollars. In a statement on Tuesday […]
Interview: Creating a tech ecosystem essential for Sri Lanka IT, says Manoj Ranaweera
Oct 27, 2015 (LBO) – Building a tech ecosystem is crucial for a thriving IT sector, according to a Sri-Lankan born entrepreneur. Manoj Ranaweera was a key architect behind the ecosystem put in place in Manchester between 2006 and 2013.Through 100 events he rallied together over 2,000 entrepreneurs, investors, deal makers and senior managers of […]
Blog: Capitalism does not self correct towards equality, says Bill Gates
Oct 27, 2015 – (LBO) – Bill Gates, in a recent blog, reviewing Thomas Piketty’s book Capital in the Twenty-First Century, says capitalism does not self correct towards equality — a review that sounds remarkably socialist in orientation. He agrees with Piketty that: 1) High levels of inequality are a problem—messing up economic incentives, tilting […]