Author: lbostgadmin
CSE Push For New Product Development
June 03, 2015 (LBO) – Sri Lanka’s Colombo Stock Exchange (CSE) said, that it is pushing for new instruments for development, as it will implement a new system soon to reduce risk.“We have to manage our risk according to world standards,” Vajira Kulatilaka , Chairman of CSE said at the launch of annual report.“We have […]
Sri Lanka CSE records highest ever foreign inflow last year: 2014 CSE Annual Report
June 03, 2015 (LBO) – Sri Lanka’s Colombo Stock Exchange has recorded its highest ever inflow of foreign investment into the secondary equity market amounting to 104.7 billion rupees by December 2014. Releasing the 2014 Annual Report of the CSE, its CEO Rajeeva Bandaranaike said Market capitalization has surpassed 3 trillion rupees, closing the year […]
Windows 10 to be released July 29; Microsoft reveals pricing structure
June 03, 2015 (LBO) – Washington based software giant Microsoft said its next major operating system release; Windows 10 will become available from 29 July 2015.Windows 7 and 8 licensed users will be available to download Windows 10 as a free product for a year after its initial release.Licensed users can reserve an upgrade from […]
Kalpitiya Beach Resort To Build Ayurvedic Spa; Seeks Shareholder Approval
June 3, 2015 (LBO) – Sri Lanka’s troubled Kalpitiya Beach Resort, a subsidiary of Citrus Leisure PLC, has said, that it plans to commence work on a sixty room Ayurveda and Spa resort in the same land in Kalpitiya as a first stage of development.“The company is confident that it has the necessary resources to […]
Sri Lanka needs out of the box thinking to face airline industry challenges: SriLankan CEO
June 3, 2015 (LBO) – Sri Lanka’s state run airline needs to think out of the box to keep up with rapidly changing industry trends, the new Chief Executive of the national carrier, SriLankan Airlines said.“Discerning customer expectations have started revolving around the unique and innovative airline and aviation related products that service-providers have to […]
Sri Lanka’s Finance Minister ready to debate with former Finance Minister, Rajapaksa
June 3, 2015 (LBO) – Sri Lanka new administration’s Finance Minister Ravi Karunanayake said that he is ready to participate in a public debate on the country’s current economic situation. Issuing a Statement Tuesday (02), Karunanayake said that it is better if former President Mahinda Rajapaksa can participate for the debate since he was the […]
Nestle India rejects reports of excess lead in MAGGI noodles
June 02, 2015 (LBO) –After Indian authorities claimed to have established that Maggi noodles contains excessive levels of lead in MAGGI noodles, Nestle India said their extensive testing has revealed that no excess lead in tested noodles.“We have submitted samples of MAGGI Noodles from almost 600 product batches to an external laboratory for independent analysis […]
Sri Lanka’s foreign reserves upsurge to USD7.5bn in April, CB predicts further growth
June 2, 2015 (LBO) – Sri Lanka’s gross foreign reserves rose to 7.5 billion US dollars in April 2015 from 6.8 billion US dollars in March, due to a 400 million US dollar currency swap from the Reserve Bank of India, Central Bank said. The regulator says the reserves likely to increase further helped by […]
Sri Lanka’s exports decreases marginally, Imports down: Central Bank
June 02, 2015 (LBO) –Sri Lanka’s exports earnings declined marginally by 0.9 per cent, year-on-year, to 1,060 million US dollars in March 2015, led by tea followed by precious metals and textiles and garments exports, the Central bank said. Sri Lanka reported 1,070 million US dollars of exports in March 2014, the highest monthly earnings […]
Sri Lanka’s National Development Bank subordinated debentures rated A+(lka): Fitch Ratings
Jun, 01, 2015 (LBO) – Sri Lanka’s Fitch Ratings Lanka has assigned National Development Bank proposed subordinated debentures of up to 10 billion rupees a final National Long-Term Rating of ‘A+(lka)’. Full statement follows Fitch Ratings Lanka has assigned National Development Bank PLC’s (NDB; AA-(lka)/Stable) proposed subordinated debentures of up to LKR10bn a final National […]
‘s highways ministry replies former president Rajapakse; RDA obtained loans providing false docs
June 1, 2015 (LBO) – Sri Lanka’s Ministry of Highways and Investment Promotion says road development funds has been misused during the Rajapakse regime and the Road development Authority has even obtained a loan from National Savings Bank providing false documents during the period. The ministry said this in a statement today, in replying to […]
Sri Lanka asked exporters, expats to bring dollars back to the Island: Promised a higher interest rate
June 01, 2015 (LBO) – Sri Lanka’s Finance Minister Ravi Karunanayake urged all Sri Lankan exporters and expatriates to bring their money back to the country and promised the government will pay a higher interest rate, above the foreign banking and financial institutions.“We will not have to go after foreign Bond issues if these funds […]