Author: lbostgadmin
Sri Lanka sells USD172 million floating rate bonds
Aug 13, 2015 (LBO) – Sri Lanka has sold 172.3 million dollars of floating rate bonds with tenors of 1 year 7 months and 2 year 5 months, the state debt office said in a statement. The debt office sold 78.10 million US dollars of 1 year 7 month bonds at 349.47 basis points above […]
Sri Lanka stocks close down 0.4 -pct: Profit taking
Aug 13, 2015 (LBO) – Sri Lanka’s stocks closed down 0.39 percent on Thursday, with losses in some index heavy and Telecom stocks and investors taking profit, brokers said. The Colombo benchmark All Share Price Index closed 29.15 points lower at 7,442.75 down 0.39 percent. The S&P SL20 closed 24.51 points lower at 4,128.24 down […]
Sri Lanka’s Tea exporters are to be blamed for tea export reduction: Dilmah Chief
Aug 13, 2015 (LBO) – Sri Lanka’s Tea exporter, Dilmah says tea exporters who create various brand names at very cheap price levels in the global market are to be blamed on the lesser demand for “Ceylon Tea”.However, the importance of Russia and other CIS countries to Ceylon tea continues, though on reduced volumes of […]
Cinnamon and John Keells Foundation join hands with University Of Colombo
Cinnamon Hotels & Resorts together with John Keells Foundation announced their partnership with the University Of Colombo (UOC) and the Faculty of Management and Finance for the successful implementation of a Bachelor of Business Administration (BBA) degree in Hospitality and Leisure Management at the university. This is a landmark arrangement as it is the first […]
Sri Lanka’s PM promises a country that ditched the Rajapaksa legacy
Aug 13, 2015 (LBO) – Sri Lanka’s Prime Minister Ranil Wickramasinghe on Thursday pledged a new country in 60 months that ditched the Rajapaksa legacy. Speaking at a special briefing conducted by the party leaders of the United National Front for Good Governance, Prime Minister Wickramasinghe blasted the pro-Mahinda faction in the SLFP for trying […]
Nestle to be sued for nearly USD100mn by India for unfair trade practices
Aug 13, 2015 (LBO) – India’s government Wednesday said that it has filed a suit with the country’s top consumer court, National Consumer Disputes Redressal Commission, for 6,400 million rupees (.6m) in damages from the Indian arm of the Swiss food giant Nestle.The complaint was filed under “unfair trade practices,” foreign media reported.The country banned […]
Asian stocks rise, Yuan lower for third consecutive day
Aug 13, 2015 (LBO) – Asian shares extended early gains on Thursday following a recovery on Wall Street and efforts by China’s central bank to slow the sharp descent of the yuan, foreign media reports said. The Shanghai Composite rose by 0.8 percent to 3,916.68 points in early trading, Thursday on hopes the lower yuan […]
Sirimavo’s policies to develop local industry should have been continued: President
Aug 13, 2015 (LBO) – Sri Lanka’s economy would have developed if the country continued the policy of former Prime Minister Sirimavo Bandaranayake to develop local industries rather than import, the President said.“If you take the island’s political era from 1956-65 and 70-71, priority was given to the local industrial economy,” President Maithripala Sirisena told […]
Twitter officially removes 140 character limitation from Direct Messages
Aug 13, 2015 (LBO) – Twitter has officially removed its 140-character limit that restricted the length of private messages.“Today’s change is another big step towards making the private side of Twitter even more powerful and fun.” twitter said in a statement. https://twitter.com/twitter/status/631513207882907648 The messaging service will begin rolling out this change today across Android and […]
Sri Lanka’s Commercial Bank net up 19-pct in June 2015 quarter
Aug 13, 2015 (LBO) – Sri Lanka’s Commercial Bank group profit increased 19.4 percent to 2.6 billion rupees for the three months ended June 30, supported by growth in fund based operations, the bank’s interim results showed. Gross income increased 3.4 percent to 18.8 billion rupees for the quarter and the net interest income increased […]
Dialog Ideamart Partners with UNDP Sri Lanka to Pioneer Techno-Social Innovation
Sri Lanka’s first social innovation hackathon (UNDP Media Release) – 11th August, UN Compound, Colombo. Country Director of the United Nations Development Programme [UNDP] in Sri Lanka, Mr. Joern Soerensen and Dialog Axiata PLC General Manager – Product Service Innovation, Mr.Venura Mendis signed a partnership agreement today to hold Sri Lanka’s first social innovation hackathon.Titled, […]
Sri Lanka’s CB rejects claims of additional costs when issuing T-Bonds through public auctions
Aug 12, 2015 (LBO) – Sri Lanka’s Central Bank has issued a clarification on the issue of Treasury Bonds through public auctions rejecting the charge of additional costs. The Central Bank on Wednesday said they have commenced issuing Treasury bonds through public auctions from the auction of 30 year Treasury bonds held on 27 February, […]