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‘s ruble collapse tied to energy prices, volatility to continue
Sept 08, 2015 (LBO) – Russia’s ruble has lost 45 percent of its value this year tied to collapse in oil prices, and volatility is likely to continue, analysts say. With Brent crude oil prices plunging more than 50 percent, the world’s biggest energy exporter has struggled to maintain its currency. 12 months ago, the […]
Magisterial inquiry into Avant Garde floating armory ends
Sept 07, 2015 (LBO) – A Sri Lanka magisterial inquiry into a floating armory of Avant Garde Maritime Services (Pvt) Ltd has ended after the Criminal Investigation Department said it would not proceed with the case under advice of the Attorney General.Last week, the Galle magistrate lifted the travel ban on the former Secretary of […]
Exercising of JKH 2015 warrants to commence from 29 Sept
Sep 07, 2015 (LBO) – Sri Lanka’s conglomerate John Keells Holdings on Monday said the exercising of 2015 warrants of the company will commence from 29 September till the expiration date of 12 November 2015.The purchase price of a warrant is 161.87 rupees per ordinary share, and each warrant shall entitle the warrant holder to […]
Sri Lanka’s first smart city to be Kandy
Sep 07, 2015 (LBO) – Sri Lanka’s central city Kandy will be developed as the first ‘Smart City’ in the island, Rauf Hakeem, new Minister of Town Planning and Water Resources said in a media report. “India under a plan of the Indian Prime Minister Narendra Modi has already begun forming smart cities and the […]
No decision to dissolve the Bribery Commission: President’s Media
Sep 07, 2015 (LBO) – Commission to investigate allegations of bribery or corruption will not be dissolved until the establishment of the Constitutional Council, the President’s media said. The President’s Media said in a statement that the establishment of the Commission, appointments and removals of its members should be done in accordance with the 19th […]
ODEL launches ‘Into the Woods’ fall collection with glitzy fashion show
Fall inspires new fashion trends around the world, and Sri Lanka is no exception with ODELgiving local fashionistas an opportunity to experience the ‘forest couture’ that is dominating runways in the fashion capitalsof the world, with the launch of two new collections featuring dark and gloomy designs rich with earthy tones that take style lovers […]
Sri Lanka stocks close down 0.9-pct
Sep 07, 2015 (LBO) – Sri Lankan stocks closed down 0.91 percent on Monday for the second consecutive session amid notable depreciation in rupee with losses across the board, brokers said. The Colombo benchmark All Share Price Index closed down 65.41 points at 7,149.70, lower 0.91 percent. S&P SL20 closed 26.83 points lower at 3,931.00 […]
‘s Pan Asia Bank to issue 20mn debt
Sep 07, 2015 (LBO) – Sri Lanka’s Pan Asia banking corporation will issue a 20 million debt with an option to issue more, the Company said in a stock exchange filling.“We will issue 20,000,000 rated , unsecured, senior, redeemable debentures with an option to issue up to a further 10,000,000 debentures and with a further […]
Commercial Bank to reward online bill payments
The Commercial Bank of Ceylon has announced it will reward customers for usage of the Bank’s Online Banking facility with Rs 1.5 million in cash prizes over the next three months.A total of 300 customers are to be drawn for these cash prizes from those who pay bills to the cumulative value of Rs 2,500 […]
50th Defense Day of Pakistan celebrated in Colombo
The High Commission of Pakistan in Sri Lanka celebrated the 50th Defense Day of Pakistan last evening in Colombo, to commemorate the 1965 war events and sacrifices rendered by valiant Pakistan’s armed forces. The event attracted large gathering including Sri Lankan Government Ministers, Chief of Defense Staff, Commanders of Armed Forces of Sri Lanka, High […]
Orient Finance gets Central Bank approval for listing, IPO
Sept 07, 2015 (LBO) – Orient Finance PLC says the Central Bank of Sri Lanka has granted it approval to list shares on the Colombo Stock Exchange.The company said the listing would be by way of an Initial Public Offering, subject to approval from the Colombo Stock Exchange.Orient Finance was formerly known as Bartleet Finance.
Sri Lanka foreign reserves declined to USD6.4bn in Aug
Sep 07, 2015 (LBO) – Sri Lanka’s foreign reserves had declined to 6,466 million dollars by end August 2015, down from 6,887 million in July, Central Bank data showed.Foreign reserves in August is down 29 percent from 9,185 million dollar in August 2014.Sri Lanka received 1.1 billion dollars from the Reserve Bank of India under a […]