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Prime Minister to attend World Economic Forum
Jan 18, 2016 (LBO) – Prime Minister Ranil Wickremesinghe is due to leave Sri Lanka on 19th January 2016 for the World Economic Forum that will be held in Davos-klosters, Switzerland from 20th to the 23rd January 2016. This is the first time Sri Lanka has been invited to participate in the World Economic Forum. […]
Interview: Controlled tea liberalization possible, says Tea Board Chief
Jan 18, 2016 (LBO) – Better marketing and branding of Sri Lankan teas overseas, together with the potential for liberalising the industry, were just some of the issues discussed with Rohan Pethiyagoda, the newly inducted Chairman of the Sri Lankan Tea Board, in an interview with the Oxford Business Group. Tea export volumes out of […]
Sri Lanka Telco outlook improves with new budget: Fitch
Jan 18, 2016 (LBO) – Fitch Ratings has revised the outlook on Sri Lanka’s telco sector to stable from negative as the new budget, introduced in December 2015, has scrapped the recurring taxes which could have diluted the industry’s EBITDA margin by an average of 6 – 7 percent. “We believe that Sri Lanka Telecom’s and […]
PTL Watch: Liquid long-term bond yields drop
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Mahinda Rajapaksa stresses abolishing executive presidential system
Jan 18, 2016 (LBO) – Sri Lanka’s former President Mahinda Rajapaksa has expressed his views on the proposed constitutional change at the Abeyarama Temple in Narahenpita yesterday. Rajapaksa has identified abolishing the executive presidential system and electoral reforms as key areas to be included in the new constitution though he acted contrary to that in […]
” in March
The Ceylon Chamber of Commerce, the country’s premier business Chamber is planning hold an International Investor Forum during the month of March 2016, in order to help the country attract much needed Foreign Direct Investments to drive growth. Titled ‘Sri Lanka Investment & Business Conclave 2016’, the event plans to attract potential investors from across […]
Sri Lanka targets USD5 bn FDI in next three years, Malik to visit China
Jan 18, 2016 (LBO) – Sri Lanka is targeting five billion US dollars worth of foreign direct investments (FDI) in the next three years, Minister of Development Strategies and International Trade said. “We are targeting 5-6 billion US dollars in FDI the next three and I am quite optimistic that we will get there,” Malik […]
” makes maiden visit to Hambantota Port
K ‘Line car carrier with a load of vehicles from Japan called at the Port of Hambantota recently. The vessel M/V ‘HYPERION HIGHWAY’ with an LOA of 199.5M and a cargo capacity of 7,700 units, discharged 523 units from Japan for domestic use. A plaque exchange ceremony was also organized on board between Sri Lanka […]
Aitken Spence partners SriLankan to promote Sri Lanka across India
Aitken Spence Travels, Turyaa Kalutara and SriLankan Holidays have joined hands to launch a promotional campaign across several cities in India to attract more tourists to Sri Lanka. The campaign will consist of cinema and TV advertising, as well as presentations to key agents covering all the main cities. Aitken Spence Travels is the largest […]
Tony Weerasinghe launches online retail brokerage Ustocktrade
Jan 18, 2015 (LBO) – Tony Weerasinghe a founder of software company MilleniumIT has launched a low-cost U.S. online retail brokerage, Ustocktrade. Ustocktrade, which generates revenue from a one-dollar-a-month membership fee and a one-dollar-per-trade fee, aims to “bring Wall Street to Main Street” Weerasinghe said. Part of the firm’s goal is to encourage non-traditional investors, […]
US, EU lift certain sanctions on Iran after IAEA report
Jan 17, 2016 (LBO) – The United States and European Union have officially lifted certain sanctions against Iran after the UN nuclear watchdog released a statement saying Iran has fulfilled necessary steps to start the implementation of the Joint Comprehensive Plan of Action (JCPOA) on Iran’s nuclear program. The report has been submitted to the International Atomic Energy Agency […]
Sri Lanka stocks down 1.9-pct; 18 month low
Jan 18, 2016 (LBO) – Sri Lankan stocks closed down 1.89 percent following the negativity in regional markets and local economic concerns with losses in financial sector stocks, brokers said. The Colombo benchmark All Share Price Index closed lower 121.59 points at 6,324.61 down 1.89 percent. S&P SL20 closed 60.08 points down at 3,280.05 down […]