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JDS Scholars leave for Japan
(Japanese Embassy Press Release) – The Government of Japan has finalized 15 prospective public sector officials for the 2nd batch of the second phase under its Japanese Grant Aid for Human Resources Development Scholarship (JDS) Program and the Fellows are now ready to leave for Japan to pursue 2 – years academic programmes which will […]
CBL honours excellence at Distributor Convention and Sales Star Awards
(News Release) – Ceylon Biscuits Limited (CBL), Sri Lanka’s largest local food and confectionery conglomerates in Sri Lanka recently concluded its 2014/15 Annual Distributor Convention and Sales Star Awards Ceremony, at the Sri Lanka Exhibition & Convention Centre, Colombo. The objective of this annual event was to evaluate and appreciate the contribution of the Company’s […]
America’s Greece in the making, Puerto Rico defaults another bond payment
Aug 06, 2015 (LBO) – One of the unincorporated territories of the United States, Puerto Rico, is to default another bond payment due on September 01 after the government defaulted its first bond payment in their history on Monday.The second default is a payment of 92 million US dollars a month into a general obligation […]
India allows watching internet sex after widespread criticism over ‘moral policing’
Aug 06, 2015 (LBO) – India has lifted its ban on 857 websites that host adult or pornographic content after the move was severely criticized as a Talibani type decision.The government reversed the decision it took few days ago, ordering Internet Service Providers to only block access to sites that contain ‘child pornographic content’ allowing […]
Sri Lanka’s Expolanka net up 28-pct in June quarter
Aug 06, 2015 (LBO) – Group profits at Expolanka Holdings with interest in logistics rose 28 percent to 222 million rupees in the June quarter from a year ago showing strong growth in freight and logistics business, the company said in a stock exchange filing. Earnings per share rose to 11 cents in the quarter […]
Sri Lanka’s President assures support and freedom for private sector to engage in businesses
Aug 06, 2015 (LBO) – Sri Lanka’s President Maithripala Sirisena assured fullest support for private sector businesses to operate freely while government would build strong relations with other countries which would help trade and investment.“The government and private sector should share a bond, friendliness, trust and transparency to develop the economy.I believe the government should […]
‘s Fitch Affirms Ceylon Dollar Bond Fund at BB-/V-5
Aug 05, 2015 (LBO) – Sri Lanka’s Fitch Ratings has affirmed Ceylon Dollar Bond Fund’s Fund Credit Quality Rating of ‘BB-‘ with a Fund Volatility Rating of ‘V-5’. The full text of the announcement is reproduced below. Fitch Affirms Ceylon Dollar Bond Fund at ‘BB-‘/’V-5’ Fitch Ratings-London/Colombo-05 August 2015: Fitch Ratings has affirmed Ceylon Dollar Bond […]
Commercial Bank launches low cost insurance for micro borrowers
(News Release) – A low cost insurance scheme that will protect micro borrowers has been launched by Commercial Bank of Ceylon in association with two insurance companies, Ceylinco Insurance and BIMA. The policy will cover the borrowers against accidental death or permanent disability, compensate for loss of income due to hospitalisation and also contribute towards funeral […]
Sri Lanka stocks close up 0.8 -pct: Six-month high
Aug 05, 2015 (LBO) – Sri Lanka’s stocks closed up 0.77 percent on Wednesday, with the market picking up after losses yesterday and positive investor sentiment due the upcoming parliamentary polls, brokers said. The Colombo benchmark All Share Price Index closed 56.26 points higher at 7,366.31 up 0.77 percent. The S&P SL20 closed 10.39 points […]
Sri Lanka’s six and twelve months Treasury bill yields up
Aug 05, 2015 (LBO) – Sri Lanka’s Treasury bill yields were up at Wednesday’s auction with the 6-month yield up 07 basis points to close at 6.50 percent, data from the state debt office showed. 12-month yield was up 06 basis points to close at 6.54 percent. The debt office of the Central Bank has […]
Vidullanka to develop 6.5MW power plant in Uganda
Aug 05, 2015 (LBO) – Sri Lankan private power producer Vidullanka, through its subsidiary Muvumbe Hydro, has entered into an agreement with the government of Uganda to develop a power plant in Uganda. The power plant with a capacity of 6.5MW will start selling power to the government for a period of 20 years upon […]
China tops tourist arrivals to Sri Lanka in July
Aug 05, 2015 (LBO) – Sri Lanka’s tourist arrivals rose 31 percent from a year earlier to 175,804 in July 2015 with China becoming the top generating market, data from the state tourism promotion office showed. Chinese arrivals rose 65.5 perecnt to 25,120 from a year earlier, while the total in the seven months to […]