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‘s President appoints a new law commission
Mar 27, 2015 (LBO) – Sri Lanka’s President Maithripala Sirisena has appointed new members for the law commission, justice ministry said in a statement.The law commission act provides that suitable eminent persons who have held or hold judicial office, or have experience as attorneys-at-law or teachers in law or are academically qualified in law can […]
Ultra small computer by Intel; first look in Sri Lanka
Mar 27, 2015 (LBO) – Sri Lankan media on Thursday got a rare opportunity to experience a factory model of an ultra small computer design built by Intel Corporation which will be unleashed in the coming months. This pocket-sized computer called ‘Intel compute stick’ is a device delivering an entry compute experience by plugging directly […]
Sri Lanka’s NDB-DFCC merger awaiting new regime’s go ahead
Mar 27, 2015 (LBO) – Sri Lanka’s National Development Bank (NDB) and DFCC Bank says that they are still awaiting a decision from a committee appointed by the new government who are investigating all the consolidations which were done and pending under the previous regime. “We have made our submissions and as of today NDB […]
” with a stable outlook : Rating agency
Mar 27, 2015 (LBO) – Fitch Ratings Lanka has affirmed Siyapatha Finance PLC’s (SLFL) national long-term rating at ‘A(lka)’ with a stable outlook, the rating agency said in a media statement. The agency has also affirmed SLFL’s outstanding senior unsecured debentures at national long-term rating of ‘A(lka)’ and outstanding subordinated debentures at ‘A-(lka)’. The full […]
” : Fitch Ratings
Mar 27, 2015 (LBO) – Sri Lanka Fitch Rating has rated Sri Lankan based AMW Capital Leasing and Finance PLC’s (AMCL), national long term rating to ‘BBB+lka)’ from ‘BB-(lka)’ with a stable outlook the rating agency said in a statement. The multiple-notch upgrade follows Fitch’s assessment of support from its 90 percent-parent, Associated Motorways Limited […]
‘s micro-finance sector to access CRIB through a new regulation
Mar 27, 2015 (LBO) – Sri Lanka’s micro-finance industry is looking at developing a separate credit information database for their clientele with the help of the Credit Information Bureau (CRIB) of Sri Lanka. Yasitha Munasinghe, manager, Lanka Micro-finance Practitioners association (LMFPA) told LBO that the proposed micro-finance act will provide the necessary legality to be […]
Sri Lanka to get Chinese funded hospital for kidney patients; China to support SL on alleged human rights issues
Mar 27, 2015 (LBO) – Sri Lanka will get aid from the Government of China to build a hospital with all the modern facilities to cater to patients with kidney diseases, president Sirisena’s office said in a media release.The Chinese President Xi Jinping has agreed to provide assistance to build the hospital at the request […]
Sri Lanka sells $100mn of 5 year development bonds; rejects all bids at 2 and 3 years
Mar 27, 2015 (LBO) – The issue of Sri Lanka development bonds amounting to 75 million US dollars have been oversubscribed with 100 million US dollars of bids received from investors.The central bank has accepted 100 million US dollars of five year bonds at a rate of 6 month US dollars LIBOR plus a weighted […]
Sri Lanka to connect Colombo Tea auction’s brokers and buyers through a mobile platform with live feeds
Mar 26, 2015 (LBO) – Sri Lanka to connect tea brokers and buyers, providing a mobile based live feed that delivers real-time information directly to tea buyers, by pushing sale information that is captured by tea brokers at each auction room, a media release said. The newly launched “mAuction”, a mobile solution for the Colombo […]
Sri Lanka shares down 0.7-pct
Mar 26, 2015 (LBO) – Sri Lanka’s shares were down Thursday for the fourth consecutive day with the benchmark index not recovering following yesterday’s dip below the 7,000 mark, brokers said. The Colombo benchmark All Share Price Index closed 50.20 points lower at 6,922.83, down 0.72 percent. The S&P SL20 closed 30.49 points lower at […]
Sri Lanka’s government urge private sector wage increase: Plans not to legislate
Mar 26, 2015 (LBO) – Sri Lanka’s new rulers urged the private sector to come up with a solution to increase wages and says the government would not like to force it to be legislated, Deputy Minister of Finance and Planning Harsha De Silva said.“We are in a really dilemma right now having delivered 100 […]
Sri Lanka’s Abans use new digital marketing application to promote LG smart phone
Mar 26, 2015 (LBO) – Sri Lanka’s Abans Limited, which has interests in consumer durables said they will market their LG smart phone using mobiOs MMM platform.Issuing a statement the company said, while traditional marketing is outside the store targeting consumers to build brand awareness, digital marketing allows marketers to deliver personalized content to shoppers […]