Author: lbostgadmin
Sri Lanka’s tea exports continue decline
Dce 08, 2015 (LBO) – Sri Lanka’s tea exports continued to decline in September 2015 severely affected by lower demand from main tea buyers in Russia and the Middle East reflecting declines in both export volume and export prices. Tea exports recorded a drop of 20.4 percent in September this year compared to the corresponding […]
Oil prices drop to near 7-year low after OPEC meeting
Nov 08, 2015 (LBO) – Crude oil prices fell six percent to a near seven-year low after OPEC showed no signs of addressing a supply glut following a meeting on Friday.Brent crude was at 40.95 dollars per barrel, rebounding 0.54 percent on Tuesday. A stronger dollar, on the likelihood of a US rate hike, also […]
Emission cut pledges at COP 21, Beijing issues smog red alert
Nov 08, 2015 (LBO) – Just 10 nations are sitting on the sidelines of the Paris climate talks with talks entering their second week after 185 countries made pledges to reduce emission of greenhouse gases.So far the pledges, termed Intended Nationally Determined Contributions, are estimated to limit the temperature increase to 2.7 degrees Celsius. Although […]
SriLankan Airlines resumes operations to Chennai
Dec 07, 2015 (LBO) – Subsequent to the scheduled opening of the Chennai International Airport, SriLankan is to resume operations with the flights UL 127 and UL 128 tomorrow, the airline said. SriLankan has deployed an Airbus A330 aircraft for the flight UL 127 which will leave Colombo at 1345 hours to reach Chennai at […]
Muslim Council appeals for pardon for Sri Lankan maid
Dec 07, 2015 (LBO) – The Muslim Council of Sri Lanka has appealed to the King of Saudi Arabia to pardon two Sri Lankan individuals to be punished under country’s laws.The house maid is sentenced to death by stoning for the crime of adultery while the other respondent, a Sri Lankan male migrant worker is […]
Asiri Hospitals shows interest in buying Lanka Hospitals
Dec 07, 2015 (LBO) – Sri Lanka Softlogic‘s flagship hospital chain Asiri Hospitals Holdings Plc had shown interest in buying Lanka Hospitals stake, the company said in a filing to stock exchange. “Softlogic’s flagship hospital chain Asiri Hospitals Holding Plc being the leading private sector healthcare provider in Sri Lanka wish to announce that we […]
Sri Lanka stocks close down 0.2-pct: Low investor activity
Dec 07, 2015 (LBO) – Sri Lankan stocks closed down at 0.16 percent with low investor activity, brokers said. The Colombo benchmark All Share Price Index closed down 10.93 points at 6,858.63 down 0.16 percent. S&P SL20 closed 4.88 points lower at 3,633.68 down 0.13 percent. Turnover was at 388 million rupees, lower than the […]
Debt Report: Thin activity in Sri Lanka markets, liquidity surplus dips
Nov 07, 2015 (LBO) – There was thin activity in Sri Lanka’s bond market with foreign remittances balancing importer dollar demand in the currency market. Market eyes are on Fed policy meeting Dec 15-16, with Federal funds futures showing a 79-percent chance the Fed will end seven years of near-zero interest rates and about 50 […]
Litro Gas shows 30 pct growth, completes terminal at Hambantota
Press Release: The national LPG (liquid petroleum gas) company has exhibited a significant sales growth of above 30pct in the domestic market during the first 10 months of this year. This complements with the imposed price reductions by the government. The recent decision taken by the government to reduce the price of 12.5Kg domestic LP […]
Chamber wins GOLD at ICASL Annual Report Awards
The Ceylon Chamber of Commerce won the ‘GOLD’ award for Overall Excellence in Annual Financial Reporting under the Not-For-Profit organizations category at the grand finale of the 51st Annual Report Awards Competition, organized by the Institute of Chartered Accountants of Sri Lanka. This is the 5th time, the Ceylon Chamber has won a Gold for […]
FCID arrests Nalaka Godahewa over misuse of SEC funds
Dec 07, 2015 (LBO) – Sri Lanka’s Police Financial Crimes Investigation Division has arrested Former Chairman of Securities and Exchange Commission, Dr. Nalaka Godahewa on charges of financial fraud involving five million rupees. The Police said he was arrested after arriving at the FCID on Monday morning to provide a statement. Two individuals including a […]
Sri Lanka Ports Authority gets new MD
Dec 07, 2015 (LBO) – Sri Lanka Ports Authority (SLPA) has appointed Sarathkumara Premachandra as it’s new managing director, the authority said in a statement. “We can make SLPA a successful and competitive public institution that feeds the national economy of the country in a real big way,” Premachandra was quoted as saying in the statement. […]