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US may hike rates in Oct, SL seen holding steady
Aug 31, 2015 (LBO) – There is a little more than fifty percent chance of the United States hiking interest rates in October for the first time in more than a decade, traders say. Quotes on overnight indexed swaps reveal a 56 percent chance of an October rate increase. Dennis Lockhart, a voting member on […]
Time to focus on areas other than human rights: Mangala
Aug 31, 2015 (LBO) – Sri Lanka needs to focus on areas other than human rights in order to ensure long-term peace and stability, Foreign Minister Mangala Samaraweera said. Addressing diplomats based in Colombo recently, Samaraweera said the key to ensuring long-term peace and stability and preventing the recurrence of conflict is through strengthening the […]
‘ Chief
Aug 31, 2015 (LBO) – The assembly plant investment by the German automaker Volkswagen in Sri Lanka needs to be transparent and all other motor companies who wish to invest should get the same facilities, an official of the Ceylon Motor Traders’ Association said. “I think they have to be very transparent in the Volkswagen […]
UNDP, Dialog launch hackathon for social development
Aug 30, 2015 (LBO) – UNDP and Sri Lanka’s Dialog Ideamart have launched a social innovation “hackathon” to find solutions to development challenges in employment and enterprise, electronic waste management, and civic engagement.Around 250 people attended the “HackaDev: Impact through Innovation” event last week.The audience comprised of university students and developers studying IT, employees of […]
Rare positive correlation between stocks and bonds in US, China
Aug 29, 2015 (LBO) – A rare positive correlation was seen between equities and bonds this week with China’s equities plunging and demand for 30-year US treasuries falling at the same time. On Tuesday and Wednesday, when US equity markets were tumbling, demand for 30-year US Treasury bonds fell, the opposite of what happens when […]
DFCC Vardhana Bank shareholders approve amalgamation with DFCC
Aug 28, 2015 (LBO) – Shareholders of DFCC Vardhana Bank and DFCC Bank have approved the proposed amalgamation of DFCC Bank with DFCC Vardhana Bank at an extraordinary general meeting held today.The amalgamation will be effective on 01 October 2015 and a payment of 52 rupees for every one ordinary voting share held in Vardhana Bank to […]
Sri Lanka’s Heladiv to go after Chinese and Indian markets
Aug 28, 2015 (LBO) – Sri Lanka’s HVA foods, which exports ready to drink tea under its “Heladiv” brand, says the company plans to expand more in to Chinese and Indian markets with ready to drink teas to gain a strong foothold. “Whilst our Chinese operations have progressed to 55 tea cafes and outlets, further […]
Sri Lanka stocks close up 1-pct: JKH gains
Aug 28, 2015 (LBO) – Sri Lankan stocks closed up 1.06 percent on Friday for the third consecutive session despite foreign selling as the bargain hunters dominated the market activities as index heavy stocks made gains, brokers said. The Colombo benchmark All Share Price Index closed up 89.08 points at 7,362.22 up 1.22 percent. S&P […]
LUSH launches second skin clinique in the heart of Colombo
President inaugurates chic boutique amidst an exclusive gathering LUSH the state-of-the-art Skin Clinique ceremoniously launched its second skin care centre ‘LUSH @Park Medical Aesthetics’ in the heart of Colombo today. The grand opening ceremony was held under the patronage of His Excellency the President Hon. Maithripala Sirisena, Founder Director Sheromi Samaradiwakara and the management of […]
Ceylon Printers to raise Rs30mn through rights issue
Aug 28, 2015 (LBO) – Sri Lanka’s stationery merchants and printing firm, Ceylon Printers, is to raise 30 million rupees by way of a rights issue, the company said in a stock exchange filing.Subject to the necessary approvals, the company is to issue 25 thousand shares at 1,200 rupees each in the ratio of 5 […]
Interview: Sri Lanka BOP pressured by consumer spending, external woes
Aug 28, 2015 (LBO) – Post-war stimulus packages by Sri Lanka’s government have pushed up consumption demand which is now having an adverse impact on the trade deficit and balance of payments. This is one reason for the negative BOP position so far this year, Shiran Fernando at Frontier Research said. “We are in consumption […]
ADB to triple Sri Lanka education sector lending to USD1bn
Aug 28, 2015 (LBO) – The Asian Development Bank (ADB) said it will support Sri Lanka’s human capital development for the next five years though strengthening education to help the Indian Ocean Island to become a competitive economy.“Lending for education will be more than tripled to one billion US dollars for the next five years,” […]