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Sri Lanka’s CHC Investment buys 31-pct stake in Taprobane Holdings
Aug 24, 2015 (LBO) – Sri Lanka’s C H C Investment has bought a 31 percent stake in the diversified Taprobane Holdings at 5.50 rupees, a statement said. Taprobane Securities said in a stock exchange filling that C H C Investment bought 310.8 million shares of Taprobane Holdings worth 1,709.4 million rupees. As per the […]
President offers Sri Lankan High Commissioner post in UK to Sangakkara
Aug 24, 2015 (LBO) – Sri Lanka’s cricketing legend Kumar Sangakkara on Monday was offered the High Commissioner post in the UK by President Maithripala Sirisena with him stepping down from international test cricket.“We don’t know what he thinks but we request him to accept Sri Lankan High Commissioner Post in the UK,” President Sirisena […]
Major Sri Lanka reforms in first six months: policy maker
Aug 24, 2015 (LBO) – Sri Lanka’s newly elected national unity government will make major reforms in the period of first six months to make the economy more competitive, Harsha de Silva, Member of Parliament and former deputy minister of policy planning and Economic affairs said.“Our competitiveness as a nation has fallen in recent years,” […]
Asian stocks volatile, China market drops 8.4 pct
Aug 24, 2015 (LBO) – Shares in the Asian markets continued to fall as a result of the volatility in the Chinese stocks, foreign media reports said. Chinese shares continued their sharp fall on Monday as the mainland benchmark index, the Shanghai Composite, fell sharply by 8.4 percent to 3,211.75 points. Beijing announced over the […]
Sri Lanka needs to remove taxes from exports: Harsha de Silva
Aug 22, 2015 (LBO) – Sri Lanka needs to remove taxes for exporters in order to increase exports which brings foreign earning to the country, Harsha de Silva, member of parliament and former deputy minister of policy planning and Economic affairs said. “I don’t understand why exports must be taxed,” de Silva said at the […]
Sri Lanka to ink trade promotion MoUs with Hong Kong, Thailand and Korea today
Aug 24, 2015 (LBO) – Sri Lanka will sign three memorandums of understanding with Hong Kong, Thailand and Korea on Monday to boost regional trade, the Export Processing Board said. The board said Sri Lanka-Hong Kong’s HKTDC, Sri Lanka-Korea’s KOTRA and Sri Lanka-Thailand’s DITP are the three MoUs scheduled to be sign today. The signing […]
Solar power becomes more competitive, investments rise in India, US
24 Aug, 2015 (LBO) – Solar power has become competitively priced in electricity markets and large investments are on the rise. India’s Madhya Pradesh announced on Sunday plans to host the world’s largest solar power station with a capacity of 750 megawatts.“Global tenders for commissioning the solar power station in an area over 1,500 hectares […]
Audits of campaign financing needed in Sri Lanka Elections: Commissioner
23 Aug, 2015 (LBO) – Sri Lanka should amend election laws so that campaign funding of political parties is transparent and audited, says Mahinda Deshapriya, the island’s elections commissioner.“In future, political parties and candidates must be made to declare how much money they spend on election related activities, while there should be an audit of […]
UN urges Sri Lanka’s national unity govt to lock long term peace
Aug 24, 2015 (LBO) – Sri Lanka new national unity government should seize the opportunity they got after polls in August to advance long-term peace for all Sri Lankans, United Nation’s general secretary said. “The Secretary-General encouraged the Prime Minister and the national unity government to seize this opportunity to advance long-term peace for all […]
Stock markets fall most in 4 Years on worries about China
Aug 22, 2015 (LBO) – International markets took a beating on Friday on worries about China’s economy. The Dow Jones Index fell 3.1 percent to finish at 16,459 points. The market is down 10 percent from its all-time high in May after its 1,000 point drop this week. This has been the dow’s worst week […]
Ceypetco To
22 Aug, 2015 (LBO) – Sri Lanka’s Ceylon Petroleum Corp will seek to, a report said.“There has been a change in the refinery process and it’s now more profitable for (Ceypetco) to,” a source told Reuters.“There is a higher yield of value-added oil products like middle distillates and gasoline and the sulphur is low.” Sri […]
US Ambassador to Sri Lanka and Maldives presents credentials to President
Aug 21, 2015 (LBO) – The new U.S. Ambassador to Sri Lanka and Maldives Atul Keshap presented his credentials today to President Maithripala Sirisena at a ceremony in Colombo.The ceremony marks the official beginning of Keshap’s tenure as the U.S. Ambassador to Sri Lanka, US Embassy of the United States of America in Colombo said.Ambassador […]