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Sri Lanka a testament to world: US Asst Secy Nisha Biswal
Aug 25, 2015 (LBO) – The United States on Tuesday reaffirmed their support for Sri Lanka hailing the progress towards institutions of good governance, combating corruption and promoting reconciliation. Speaking at a special press briefing US Assistant Secretary of State for South and Central Asian Affairs Nisha Biswal told reporters Colombo that the country is […]
Asian markets volatile; China extends losses, ASPI drops 1 pct
Aug 25, 2015 (LBO) – Asian share markets temporarily bounced back before heading into the red with Chinese stocks diving, a day after their worst plunge since 2007. China’s benchmark Shanghai Composite was down 7.9 percent on Tuesday, after falling 8.5 percent on Monday. The sell-off was driven by fears that China’s slowing growth might […]
‘s new cabinet will face challenges with global market tumble: Policy maker
Aug 25, 2015 (LBO) – Sri Lanka’s new cabinet, which will be sworn in today, will face challenges with the uncertainty of global markets after China’s ‘black monday,’ economic policy legislator Harsha de Silva said.“It is a very unusual evening as we watch global markets tumbling, starting off with China with Shanghai index falling eight […]
Sri Lanka foreigners to pluck more tea for Guinness Record
Aug 25, 2015 (LBO) – Sri Lanka will aim for a Guinness Record this week by having 3,000 kilograms of tea plucked with the help of 200 foreigners before serving 35,000 cups of tea at the Esala Perahera procession, tourism promotion office said.The event at Pedro Estate in the Central Province hill country of Nuwara […]
Aitken Spence Travels attracts nature and adventure tours from Spain
(Media Release) Intensive marketing of Sri Lanka as an ideal destination for nature and adventures tours by Aitken Spence Travels has attracted a leading specialized tour operator from Spain to send two tourist groups to Sri Lanka this month. The groups’ tours in Sri Lanka were handled by Aitken Spence Travels, Sri Lanka’s leading destination […]
Warner Bros. Consumer Products and Turner Team Up in Sri Lanka
Cartoon Network Enterprises to be Licensing Representatives for WBCP in the Region (Media Release) Warner Bros. Consumer Products (WBCP) and Turner Broadcasting System Asia Pacific, Inc. today announced their agreement under which Turner’s Cartoon Network Enterprises (CNE, licensing and merchandising division) is appointed as the consumer products licensing representative for WBCP in India, Bangladesh, Sri […]
Fitch affirms Standard Chartered Bank, Sri Lanka Branch at AAA
Aug 25, 2015 (LBO) – Sri Lanka’s Fitch Ratings has affirmed Standard Chartered Bank, Sri Lanka Branch’s National Long-Term Rating at ‘AAA(lka)’ with a stable outlook.The full text of the rating announcement is reproduced below. Fitch Ratings-Colombo-24 August 2015: Fitch Ratings Lanka has affirmed Standard Chartered Bank, Sri Lanka Branch’s (SCBSL) National Long-Term Rating at […]
Malaysia Trade Corp to fund infrastructure projects in Sri Lanka
Aug 25, 2015 (LBO) – The Malaysia External Trade Development Corporation (MATRADE) is to fund infrastructure projects in Sri Lanka through Malaysia’s EXIM bank, an official said.MATRADE is ready to work with Sri Lanka in the areas of property development, monorail, railway infrastructure development, port operations, real estate, and constructions of resorts.“The funding into projects […]
Election Outcome Improves Ability to Pass Reforms: Moodys
Aug 24, 2015 (LBO) – Sri Lanka’s UNP-led national unity government which includes the Sri Lanka People’s Freedom Party, the second-largest political party in parliament, is credit positive for Sri Lanka because the government can now more easily enact policies that revive growth and address its large fiscal burden, rating agency Moodys said. “This would […]
Stocks close down 1.9-pct amid global market uncertainty
Aug 24, 2015 (LBO) – Sri Lankan stocks closed down 1.9 percent on Monday with index heavy stocks making losses and investors taking profits amid international market uncertainty, brokers said. Global markets took a beating on Monday after China’s Shanghai composite index tumbled 8.49 percent, erasing gains made so far this year. The London FTSE […]
Sri Lanka appoints three cabinet ministers
Aug 24, 2015 (LBO) – Three cabinet ministers took oaths before the President of Sri Lanka ahead of a full cabinet due to be sworn in on Tuesday.Mangala Samaraweera took oaths as the Minister of Foreign Affairs, Wijeyadasa Rajapakshe as Minister of Justice and D.M. Swaminathan as Minister of Rehabilitation.The ceremony to for the rest […]
Sri Lanka’s Fitch rates HDFC Bank at BBB
Aug 24, 2015 (LBO) – Sri Lanka’s Fitch Ratings on Monday assigned Housing Development Finance Corporation Bank of Sri Lanka a National Long-Term Rating of ‘BBB(lka)’ and a Stable Outlook. The full text of the rating announcement is reproduced below. Fitch Ratings-Colombo-24 August 2015: Fitch Ratings has today assigned Housing Development Finance Corporation Bank of […]