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Marxist JVP presents 20 proposals for immediate implementation
Sep 17, 2015 (LBO) – Sri Lanka’s Marxist JVP and several civil organizations on Thursday presented a set of proposals to the government for the immediate implementation.Most of these reforms were also included in the manifesto of the government presented for the general election held on 17th August.“We need to get rid of the political […]
Sri Lanka can attract Japanese companies, bank: ambassador
Sept 17, 2015 (LBO) – Sri Lanka has great potential to attract Japanese investors who are interested in investing in the island, and as a gateway to India and Pakistan, Kenichi Suganuma, the ambassador for Japan in Sri Lanka, said.Although India is a big market it is not easy to do big business there, he […]
Managerial skills, tea cloning to help Sri Lanka’s tea industry: PA
Sep 17, 2015 (LBO) – Sri Lanka’s tea industry, which has a long history starting from British period, now needs to adopt professional managerial skills and build elite clone tea to face current challenges and to drive future growth, the chairman of the Planters’ Association said. The industry is currently in a crisis situation with […]
Sri Lanka’s Land Rover sees growing local demand
Sep 17, 2015 (LBO) –Land Rover’s sole authorized distributor in Sri Lanka, SML Frontier Automotive says that demand in the local market is growing at a fast pace with rise in per capita income in the island.“In our segment of the market it is the rise in the number of professionals in the country and […]
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 assures consultation with OHCHR and intl organizations
Sep 16, 2015 (LBO) – Sri Lanka’s Foreign Ministry in a letter has assured the UN Human Rights Commissioner the non recurrence of rights violations and consultations with international organizations.Complimenting UN Human Rights Commissioner for conveying an advanced copy of the OHCHR report a few days ago, the foreign ministry said it was encouraged by the […]
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’s Dialog increases stake in wow.lk
Sep 16, 2015 (LBO) – Sri Lanka’s Dialog Axiata has increased its stake from 46 percent to one hundred percent in e-commerce website, wow.lk, brokers said. “Dialog Axiata have increased its shareholding in Digital Commerce Lanka (Pvt) Ltd from 46 percent to 100 percent, through its subsidiary, Digital Holdings Lanka (Pvt) Ltd.,” Lanka Securities said. […]
Sri Lanka Treasury bill yields flat
Sep 16, 2015 (LBO) – Sri Lanka’s treasury bill yields were flat at Wednesday’s auction, data from the state debt office showed.The 3-month yield was flat 6.79 percent with bids amounting to 17.5 billion rupees being received and it was decided to accept 5.0 billion rupees from the auction. The 12-month yield was also flat 7.17 […]
Sri Lanka stocks close down 0.2-pct; Banking and finance losses following CB directive
Sep 16, 2015 (LBO) – Sri Lankan stocks closed down 0.21 percent on Wednesday with losses in the banking and finance stocks following a Central Bank directive to banks to reduce loan ratio on motor vehicles, brokers said. The Colombo benchmark All Share Price Index closed down 15.03 points at 7,137.40 lower 0.21 percent. S&P […]
Sri Lanka needs hybrid special court to probe grave HR violations: UN Rights Chief
Sep 16, 2015 (LBO) – A UN report published today has identified patterns of grave violations in Sri Lanka between 2002 and 2011, strongly indicating that war crimes and crimes against humanity were most likely committed by both sides in the conflict. The report recommends the establishment of a hybrid special court, integrating international judges, prosecutors, […]
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 […]