Category: Industry
OPEC more bullish on oil prices, says report
Sept 21, 2015 (LBO) – OPEC is more bullish on oil prices and expects 80 dollars a barrel by 2020 with a fall in production elsewhere, according to a media report. Some analysts have predicted 20 dollars a barrel in the short term, but OPEC expects a fall in U.S. production tied to low prices, […]
Sri Lanka stocks close down 0.3-pct: Continued losses in Finance and Leasing
Sep 17, 2015 (LBO) – Sri Lankan stocks closed down 0.33 percent on Thursday following losses in finance and leasing stocks and in anticipation of a US rate hike tonight, brokers said. The Colombo benchmark All Share Price Index closed down 23.89 points at 7,113.51 lower 0.33 percent. S&P SL20 closed 14.55 points lower at […]
Sri Lanka’s rupee move positive for IT BPO industry: official
Sep 17, 2015 (LBO) – Sri Lanka’s IT BPO sector, a thriving industry which targets a five billion dollar export revenue in 2022, is benefiting from the current rupee depreciation in the island. “When there is a rupee depreciation here other countries will see Sri Lanka as a low cost destination,” Jeevan Gnanam, director operations […]
Sri Lanka’s BOC to issue Debenture
Sep 16, 2015 (LBO) – Sri Lanka Bank of Ceylon 50,000,000 unsecured, subordinated redeemable at an issue price of 100 rupees, the company said in a stock exchange filling. The filing said that the Colombo stock exchange has approved in principal an application for listing the debt securities of the company. The company said it […]
Sri Lanka aims for wind power farm in Mannar
Sept 16, 2015 (LBO) – Sri Lanka’s Ceylon Electricity Board envisages installation of 375 megawatts in a wind power in Mannar between 2018 and 2025 as part of a drive to increase power generation from non-conventional renewable energy (NCRE) sources.After the first commercial wind power plants established in 2010, total capacity from wind power increased […]
CEB announces new off peak tariff to charge electric vehicles
Sep 16, 2015 (LBO) – Sri Lanka’s Ceylon Electricity Board (CEB) is offering off peak power at 13.00 rupees a unit to charge electric cars at home, a statement said. “In order to facilitate electric vehicle charging, a low off peak tariff of Rs 13 per unit kWh has been offered for seven hours starting […]
Hewlett-Packard to cut 30,000 jobs after split
Sep 16, 2015 (LBO) – Hewlett-Packard on Tuesday officially announced that 30,000 people will have to leave their newly forming company, a separate business primarily associated with enterprise services. HP has presented a plan to deliver 2.7 billion US dollars in ongoing annual cost reductions with the new separation plan. Releasing a statement Hewlett-Packard said […]
Asian stocks up helped by Wall Street rally
Sep 16, 2015 (LBO) – Asian markets opened positive on Wednesday following a day of positive trading in the US markets on Tuesday, foreign media reported. The US markets showed gains of over one percent as investors anticipated a positive two day Federal Reserve meeting that kicks off on Wednesday. However, analysts are still divided […]
Sri Lanka and India to sign a new trade agreement in 2016
Sep 15, 2015 (LBO) – Prime Ministers of India and Sri Lanka on Tuesday pledged to strengthen rapid economic development in both countries through a new agreement based on trade, economy, investment and technology. The statement issued by the Sri Lankan Prime Minister’s office said the draft agreement will be prepared in December this year […]
Section of Colombo Outer Circular Expressway to open Sept 17: JICA
Sept 15, 2015 (LBO) – Sri Lanka’s Kaduwela to Kadawatha section of the Colombo outer circular expressway (E02) will be declared open on September 17, Japan’s development agency JICA said. Lakshman Kiriella, the minister for highways, Kenichi Suganuma, ambassador of Japan to Sri Lanka, and Hiroyuki Abe, senior representative of JICA, will attend the event. […]
Sri Lanka export financing can drive export growth: Verité Research
Sep 15, 2015 (LBO) – Sri Lanka should recognize the importance of export financing especially with regard to the small and medium scale sector to expand existing exports to the world, Verité Research said.Sri Lanka’s share of exports to GDP was 15 percent last year and has been on a declining trend since 2000.The research […]
High number of Sri Lanka vehicle registrations continue: JB Securities
Sept 14, 2015 (LBO) – Vehicle registration momentum continued into August although in most categories the numbers were lower than the all-time records set in July, JB Securities said in a research note. Total registrations were 50,555 in August lower than 62,221 recorded in July – the main contributor to the slowdown was a fall […]