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Infrastructure: Megapolis needs to overcome several challenges, says Champika
Oct 19 2015, (LBO) – The Minister for Megapolis Champika Ranawaka says that if the Megapolis mega development project is to be successful then it must address several social, environmental and economic obstacles that lie ahead. “One is the social problem where we have over 100,000 slum dwellers in the Western Province,” he said speaking […]
GAAM crosses Rs5 bn mark in assets under management
Guardian Acuity Asset Management Ltd, which manages three unit trusts, passed an important milestone in its short history when it crossed the Rs 5 billion mark in assets under management (AUM) in early October this year. The firm which was recognised as the “Best new asset management company in Sri Lanka 2014” by the prestigious […]
Avant Garde issues statement on its red sea floating armory
Oct 17, 2015 (LBO) – Avant Garde Maritime Services Ltd has issued a statement to the media on its floating armory which was the subject of a magisterial inquiry. In September, a magisterial inquiry into a floating armory of Avant Garde Maritime Services ended after the Criminal Investigation Department said it would not proceed with […]
Spanish tourists celebrate National Day with Aitken Spence Travels
Aitken Spence Travels celebrated the Spanish National day on the 12th October with Spanish tourists traveling during the same period. A group on an adventure tour and another group on a round-trip culture tour were hosted by Aitken Spence Travels for cocktails, anniversary cakes and specially organized calypso bands for entertainment on the national day […]
Q&A: CHEC speaks to LBO on Port City project
Oct 16, 2015 (LBO) – Sri Lanka’s much talked port city project is still under water as the new administration has questioned project approvals. The builders of Sri Lanka’s Chinese-funded port city project say discussions are ongoing and they await a positive reply from the government after the suspension of work. Sri Lanka’s cabinet last […]
Poll: Central Bank expected to hold interest rates unchanged
Oct 16, 2015 (LBO) – Sri Lanka’s Central Bank is expected to hold interest rates unchanged at the monthly monetary policy announcement on Tuesday, market participants told Lanka Business Online. A poll of 13 market participants showed 12 expected no change in policy interest rates, while one expected a 25 to 50 basis point hike […]
Sri Lanka stocks close down 0.1-pct with foreign inflow
Oct 16, 2015 (LBO) – Sri Lankan stocks closed down on Friday for a fourth consecutive day with turnover at a one month low, brokers said. The Colombo benchmark All Share Price Index closed down 9.71 points at 7,028.74 down 0.14 percent. S&P SL20 closed 9.42 points lower at 3,773.71 lower 0.25 percent. Turnover w as […]
Janashakthi rights issue approved for AIA General acquisition
Oct 16, 2015 (LBO) – Sri Lanka’s Janashakthi Insurance received the formal go ahead from its shareholders to raise over 3.357 billion rupees by way of a rights issue of over 181.5 million rupees new ordinary shares at its Extraordinary General Meeting (EGM) held on Friday to fund acquisition of AIA insurance, the company said in a statement. Under this rights issue, Janashakthi will be issuing […]
‘s drone assassination program
Oct 16, 2015 (LBO) – Amnesty International has called the US Congress to hold an immediate independent inquiry into the Obama administration’s drone strikes overseas following a series of leaks disclosing long-standing secrets of the global killing programme.“The Drone Papers,” leaked by an anonymous whistle-blower to the online media outlet The Intercept, reveal the startling […]
PTL Watch: Profit taking corrects steep drop in bonds
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US budget deficit drops to 2.5-pct in 2015; lowest since 2007
Oct 16, 2015 (LBO) – The United States Treasury Department on Thursday said country’s budget deficit has dropped to 2.5 percent of GDP in 2015, the lowest since 2007 and less than the average of the last 40 years.Year-end data from the September 2015 Monthly Treasury Statement of Receipts and Outlays of the United States […]
Interview: New plans to be unveiled in Megapolis infrastructure
Oct 16, 2015 (LBO) – Sri Lanka’s new minister for the Megapolis, Champika Ranawaka, has big plans in mind for the region that spans the Western Province. A new transport plan will be unveiled in the next 2-3 weeks, while a Port City design has been included in the Megapolis infrastructure, he said. Commenting on […]