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Sri Lanka business chambers make statement on polls
Aug 14, 2015 (LBO) – Sri Lanka’s business chambers and professional bodies have appealed to all political parties and every candidate seeking a mandate in the forthcoming parliamentary elections to be held on the 17th August, 2015 to foster and guarantee communal, racial and religious harmony during the period of elections and thereafter. “We strongly […]
Volkswagen assembly plant to get 8 year tax holiday for USD26.5mn investment
Aug 14, 2015 (LBO) – Sri Lanka’s Board of Investment said the Volkswagen assembly plant, which initially plans to make cars for the local market, will get an eight year tax holiday for an investment of 26.5 million US dollars. The agreement between BOI and sole agent of Volkswagen agent of the Island Senok Automobile […]
India Orders More Tests on Maggi as court lifts ban
Aug 14, 2015 (LBO) – India has ordered further tests on Maggi, a popular noodle brand before the product can go back on sale following a court overturning a government ban on the product, Thursday, foreign media reported.“We have examined the evidence in great detail.Since the petitioner Nestle has already agreed not to make and […]
Samsung launches mobile payment service and two new mobiles
Aug 14, 2015 (LBO) – Samsung on Thursday introduced a new mobile pay service called Samsung Pay making it easier for users to pay for goods and services. This new service will be available in Korea on August 20 and in the US on September 28, addressing an event in New York City, head of […]
International Youth Day 2015 Celebrations in Colombo
State Ministry of Youth Affairs and the United Nations jointly organise event to mark IYD 2015 (UN Press Release) – Colombo, 12th August, 2015 – The International Youth Day, which falls annually on the 12th August 2015, was marked by an event conducted by the United Nations (UN) in Sri Lanka in collaboration with the […]
PM Ranil requests people to maintain peace and celebrate calmly after polls
Aug 13, 2015 (LBO) – Sri Lanka’s Prime Minister and Leader of the United National Party Ranil Wickremesinghe in a statement has requested people to maintain peace on the Election Day and the days following and celebrate the victory in a calm manner.“The people of our country made a strong decision on the 8th of […]
Sri Lanka’s President will not allow MR to become new PM
Aug 13, 2015 (LBO) – President Maithripala Sirisena has reiterated that the former President Mahinda Rajapaksa would not become the Prime Minister of Sri Lanka.President Sirisena as the Chairman of the Sri Lanka Freedom Party, in a five page letter with strong words to ex-President has requested Mahinda Rajapaksa to allow someone else of the […]
Sri Lanka sells USD172 million floating rate bonds
Aug 13, 2015 (LBO) – Sri Lanka has sold 172.3 million dollars of floating rate bonds with tenors of 1 year 7 months and 2 year 5 months, the state debt office said in a statement. The debt office sold 78.10 million US dollars of 1 year 7 month bonds at 349.47 basis points above […]
Sri Lanka stocks close down 0.4 -pct: Profit taking
Aug 13, 2015 (LBO) – Sri Lanka’s stocks closed down 0.39 percent on Thursday, with losses in some index heavy and Telecom stocks and investors taking profit, brokers said. The Colombo benchmark All Share Price Index closed 29.15 points lower at 7,442.75 down 0.39 percent. The S&P SL20 closed 24.51 points lower at 4,128.24 down […]
Sri Lanka’s Tea exporters are to be blamed for tea export reduction: Dilmah Chief
Aug 13, 2015 (LBO) – Sri Lanka’s Tea exporter, Dilmah says tea exporters who create various brand names at very cheap price levels in the global market are to be blamed on the lesser demand for “Ceylon Tea”.However, the importance of Russia and other CIS countries to Ceylon tea continues, though on reduced volumes of […]
Cinnamon and John Keells Foundation join hands with University Of Colombo
Cinnamon Hotels & Resorts together with John Keells Foundation announced their partnership with the University Of Colombo (UOC) and the Faculty of Management and Finance for the successful implementation of a Bachelor of Business Administration (BBA) degree in Hospitality and Leisure Management at the university. This is a landmark arrangement as it is the first […]
Sri Lanka’s PM promises a country that ditched the Rajapaksa legacy
Aug 13, 2015 (LBO) – Sri Lanka’s Prime Minister Ranil Wickramasinghe on Thursday pledged a new country in 60 months that ditched the Rajapaksa legacy. Speaking at a special briefing conducted by the party leaders of the United National Front for Good Governance, Prime Minister Wickramasinghe blasted the pro-Mahinda faction in the SLFP for trying […]