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US markets rally, appears to shake off China worries
Aug 27, 2015 (LBO) – US markets rallied on Wednesday appearing to shake off fears about China, but all eyes will be once again on the Shanghai Composite Index on Thursday. The S&P 500 recovered 3.9 percent and NASDAQ surged 4.2 percent after the Chinese market closed down 1.3 percent on Wednesday. Europe, however, bucked […]
Finance ministry calls for proposals for 2016 budget
Aug 27, 2015 (LBO) – Sri Lanka’s Ministry of Finance has requested public and private sector institutions and the general public to submit proposals for inclusion in the proposed budget for 2016.Building the economy, fighting corruption, ensuring freedom, developing infrastructure and investment and developing education are the new government’s “five point plan spelled out in […]
Sri Lanka civil society activists calls for proper criteria for national list candidates
Aug 27, 2015 (LBO) – Sri Lanka’s civil society activists including the election watchdog PAFFREL have called for proper criteria when naming national list candidates. Political parties in Sri Lanka have already used the 29 seats often referred to as the national list to accommodate people who have been rejected by the people at the […]
Japanese PM Shinzo Abe Congratulates PM Ranil Wickremasinghe
Congratulatory Message from Japanese Prime Minister Shinzo Abe to Ranil Wickremasinghe 1. On 26 August, Japanese Prime Minister Shinzo Abe sent a congratulatory message to Hon.Ranil Wickremasinghe, Prime Minister of the Democratic Socialist Republic of Sri Lanka, upon his inauguration following a free and democratic Parliamentary Election. 2. In his message, Prime Minister Abe felicitates Hon.Wickremasinghe […]
Sri Lanka’s Treasury bill yields up across maturities; 12 month yield up 25bps
Aug 26, 2015 (LBO) – Sri Lanka’s Treasury bill yields were up across maturities at Wednesday’s auction with 12-month yield up 25 basis points to close at 6.97 percent, data from the state debt office showed. 3-month yields were up 17 basis points to close at 6.53 percent while 6-month Treasury bill yields were up […]
SriLankan Airlines’ victorious stint at Mercantile Cricket Tournament
The cricket team of SriLankan Airlines entered the Quarter Finals of the Mercantile Cricket Tournament, beating Butani Capital by 37 runs.Having elected to bat first first, SriLankan set a target of 226, with impressive knocks of 40 and 38 by Dulan Gunawardena and Sharmal Fernando. SriLankan Airlines cricketers led by skipper D.A. Chamara, started their […]
UNP and SLFP agrees over National Government: UNP Chairman Malik Samarawickrama
Aug 26, 2015 (LBO) – Sri Lanka Freedom Party and United National Party has reached an agreement to form a national government, UNP Chairman Malik Samarawickrama said.Releasing a special statement Samarawickrama said both parties had to sacrifice things for the sake of the country’s progress. “We came to an agreement subsequent to the friendly and comprehensive discussions […]
CHC mandatory offer for Taprobane Holdings
Aug 26, 2015 (LBO) – Sri Lanka’s CHC Investment will be making a mandatory offer to shareholders of financial services firm Taprobane Holdings after it bought a 30.99 percent stake at 5.50 rupees, CHC said in a statement to the Colombo Stock Exchange. The mandatory offer will be at 5.50 rupees per share. A detailed […]
Samsung launches Galaxy A8, smartphone sales grow 150 pct
Aug 26, 2015 (LBO) – Samsung launched its newest Galaxy A8 model in Sri Lanka on Tuesday amid significant growth in demand for smartphones, an offical said. The Galaxy A8 is the latest member of the Galaxy A range with 4G LTE compatibility, a 1.8/1.3 GHz Octa Core processor and its slimmest with a width […]
China cuts interest rates, global markets weigh move
Aug 26, 2015 (LBO) – China cut interest rates early on Wednesday supporting turbulent markets which plunged sharply in recent days on worries the large economy was slowing down. China’s stocks swung in both directions as markets weighed the impact of the fifth interest rate cut since November. The PBOC said it will cut the […]
Sri Lanka tea exporters to see a silver lining in dark cloud soon: Heladiv Chief
Aug 26, 2015 (LBO) – Sri Lanka’s tea exports will see positive signs in the market in near future with prospects of a settlement to the long drawn political tension between the USA and Iran and the stabilizing of the Russian Ruble, HVA foods, which exports ready to drink tea under “Heladiv” said. Sri Lankan […]
Sri Lanka should think carefully before any currency devaluation: Harsha de Silva
Aug 26, 2015 (LBO) – Sri Lanka should think carefully about devaluing the rupee as it may not be a good strategy to follow, even though other countries are trying to increase exports by weakening their domestic currencies, newly elected member of parliament and former deputy minister of policy planning Harsha de Silva said. “I, […]