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Opinion: Khashoggi Killing – Imagine if Sri Lanka had done it
October 16, 2018 (LBO) – Imagine a team of 15 highly trained Sri Lankan intelligence operatives board a private plane and embark on a journey to Istanbul, one of the greatest cities in the history of the world. This team of operatives includes those well versed in interrogation, torture, forensics, and someone who is an […]
Sri Lanka DoC in breakthrough entry to world’s largest retail market
Sri Lanka’s Department of Commerce (DoC) has reported the country’s largest ever global trade linkage for Sri Lankan exports sector so far on 16 October in Colombo. The DoC also stressed that for the first time in a decade, Sri Lankan exports to this huge market has doubled. “The visit of China National Agriculture Wholesale […]
Only 8-pct of Sri Lanka’s 2018 budget promises progressing on track: Verité
Oct 16, 2018 (LBO) – Sri Lanka’s private think tank Verité Research has found out that only 8 percent of promises announced in the 2018 budget are progressing on track through the end of the first six months of this year. The research firm has also found out that progress on 33 percent of proposals […]
Controversial investor Nimal Perera discloses stock market positions in DailyFT report
October 16, 2018 (LBO) – In a high profile report in the DailyFT, controversial Colombo Stock Exchange (CSE) investor Nimal Perera disclosed his stock positions amounting to approximately Rs2bn. The report claimed that most of the positions were purchased recently. The positions disclosed in the report under the name of his firm NP Capital are […]
JKH shares trade Rs1.3bn for the day, most transactions at 126-127/share
October 16, 2018 (LBO) – Shares of recently sinking market bellwether John Keells Holdings (JKH) have transacted close to Rs1.3bn (US$7.5mn) worth of shares today, with transactions done in several blocks through the day. Most of the shares were done at a price of Rs126-127, multiyear lows for the stock. Late in the trading day […]
Mitra announces strategic plans to expand SL company in 2019 and rapidly growing ASEAN and East African regions
Oct 16, 2018 (LBO) – Mitra Innovation announced its plans for rapid global expansion this week, during their annual leadership and strategy programme in Colombo, Sri lanka. During the conference, the Mitra Innovation founders shared experiences and insights relating to the organisation’s progress during the year 2018. The founders also revealed plans to expand operations […]
Microsoft co-founder Paul Allen dead at 65, net worth of $ 20bn, never married, no children
October 16, 2018 (LBO) – One of the worlds richest people, Paul Allen has died of cancer at age 65. He leaves behind no wife or children, and is survived by one sibling Jody Allen (59). Allen left Microsoft in 1982, during his first battle with cancer.He was a flamboyant investor and philanthropist.He owned two […]
‘s growth to recover and remain at 4-pct : World Bank
Oct 16, 2018 (LBO) – Sri Lanka’s economic growth is projected to recover from the effects of last year’s weather disruptions, which negatively affected agriculture, and to remain around 4 percent in the next two years, says the World Bank in its twice-a-year regional economic update. Growth will be robust in most South Asian countries, except […]
Foreign outflow from the CSE $ 10mn on the day, $ 50mn for 2018
October 15, 2018 (LBO) – Foreign outflow out of the Sri Lankan stock market topped Rs1.7bn (US$10mn) on the day as the former owner of Singer Sri Lanka (SINS) disposed of their last 9.47% stake in the company. The buyer was highly leveraged Hayleys (HAYL) who bought control of the CSE listed Sri Lankan retailer […]
SAARC looks to go high tech to boost regional trade : Minister
Oct 15, 2018 (LBO) – Despite low trade within the region, there is potential for using information and communication technologies to contribute to social and economic progress across South Asian countries, Minister of Industry and Commerce said. “Despite the challenges, the e-commerce and related sectors in the South Asian countries offer huge business and investment […]
FMO supports Nations Trust Bank’s growth and drives job creation in Sri Lanka
Oct. 15, 2018 (LBO) – FMO, a Dutch Development Bank recently arranged a US 50 million dollar syndicated loan for Nations Trust Bank (NTB) in Sri Lanka. The loan supports further growth in Nations Trust Bank’s business banking activities which, for a number of years,has been strategically geared more towards small and medium enterprises and […]
Central Bank introduces whistleblowing policy & code of conduct for employees
Oct 15, 2018 (LBO) – Sri Lanka’s Central Bank said a whistleblowing policy and a new code of conduct for all employees have been introduced as part of the execution of recommendations included in the bond commission report. Releasing a statement on the progress they made with regard to the recommendations of the bond commission […]