Category: Other
America’s Greece in the making, Puerto Rico defaults another bond payment
Aug 06, 2015 (LBO) – One of the unincorporated territories of the United States, Puerto Rico, is to default another bond payment due on September 01 after the government defaulted its first bond payment in their history on Monday.The second default is a payment of 92 million US dollars a month into a general obligation […]
India allows watching internet sex after widespread criticism over ‘moral policing’
Aug 06, 2015 (LBO) – India has lifted its ban on 857 websites that host adult or pornographic content after the move was severely criticized as a Talibani type decision.The government reversed the decision it took few days ago, ordering Internet Service Providers to only block access to sites that contain ‘child pornographic content’ allowing […]
Commercial Bank launches low cost insurance for micro borrowers
(News Release) – A low cost insurance scheme that will protect micro borrowers has been launched by Commercial Bank of Ceylon in association with two insurance companies, Ceylinco Insurance and BIMA. The policy will cover the borrowers against accidental death or permanent disability, compensate for loss of income due to hospitalisation and also contribute towards funeral […]
Asian shares continue to fall on fears of US interest rate rise
Aug 05, 2015 (LBO) – Asian shares dipped on Wednesday as investors saw signs of US interest rate rise as early as next month, foreign media reports said.The shift to higher rates in the US has been resulted in the withdrawal of funds from emerging markets, putting pressure on their currencies.The dollar rose against the […]
China restricts drone, supercomputer exports to protect national security
Aug 05, 2015 (LBO) – Chinese government has restricted drone and supercomputer exports in a bid to protect national security and strengthen export controls on sensitive items. Under the new rule, starting from August 15, companies that make certain drones and computers will have to register with government authorities and obtain a license before exporting […]
Illegal immigrants to UK face eviction without court order with new law
Aug 04, 2015 (LBO) – Britain’s government is to introduce new measures to crackdown illegal immigrants renting properties in the country. “It will ensure anyone without the right to live in this country will find it more difficult to rent a home,” a statement issued by the department for communities and local government said. “Measures […]
DSI ups the ‘Beat’ with Bhathiya and Santhush
Iconic duo appointed Brand Ambassadors for DSI ‘Beat’ Rubber Slippers (DSI News Release) – The place of the colourful and ubiquitous flip-flop in local fashion has been reaffirmed, with one of Sri Lanka’s most popular singing duos Bhathiya and Santhush endorsing ‘Beat’ the popular flip flop collection of the country’s heritage footwear brand DSI. D. […]
Sri Lankan coco peat to be purchased by Japan
Aug 04, 2015 (LBO) – A team from Zen-Noh, the Japanese National Federation of Agricultural Cooperative Associations, are visiting Sri Lanka to help promote exports of coco peat, a sustainable replacement for peat moss in plant cultivation. The visit of the four-member team has been arranged by the Export Development Board, a Commerce Ministry statement […]
Greece stock exchange to reopen today with trading restrictions
Aug 03, 2015 (LBO) – The Athens stock exchange will reopen Monday with restrictions, more than a month after the Greece financial crisis pressured the closure of the exchange. The Athens Exchange Stock Markets Steering Committee and the Boards of Directors of AthexClear last Friday decided to reopen the Regulated market and the Multilateral Trading […]
SriLankan Airlines flies high at SLIM NASCO awards 2015
(SriLankan News Release) – National Carrier SriLankan Airlines managed to bag three outstanding titles at the SLIM NASCO Awards 2015, held at the Water’s Edge recently.The award ceremony was organized by the Sri Lanka Institute of Marketing, coinciding with the annual National Sales Congress, to recognize and reward the outstanding sales personnel of Sri Lanka.SriLankan […]
South Asia to grow 7.3 pct in 2015: ADB
July 29, 2015 (LBO) – South Asia is expected to grow 7.3 percent in 2015, up slightly from 7.2 percent seen earlier, with a better-than-expected economic performance in Bangladesh balancing the earthquake-related slowdown in Nepal, a new ADB report says. “In 2016, growth for the sub region is expected to expand to 7.6 percent,” a […]
Heritance Ahungalla and Heritance Kandalama adjudged top winners at the Culinary Awards
(News Release) Sri Lanka’s premier beach resort Heritance Ahungalla, emerged as the Most Outstanding Hotel Team in Sri Lanka for the third consecutive time after competing against 2500 participants from both international and domestic star-class city and resort hotels at the 16th Culinary Art Competition which concluded on Monday. Heritance Hotels dominated the competition with […]