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Lanka IOC Q1 profit falls with lower oil prices
Aug 25, 2015 (LBO) – Fuel retailer Lanka IOC said profits in the three months to June fell to 171 million rupees from 1.2 billion rupees in the same period last year amid a sharp drop in international oil prices. Net profit plunged to 1.8 billion rupees in the full-year to March, from 4.8 billion […]
Mangala Samaraweera assumes duties as Foreign Minister of Sri Lanka
Aug 25, 2015 (LBO) – Sri Lanka’s newly appointed Foreign Minister Mangala Samaraweera assumed duties at the Foreign Ministry on Tuesday.This is his third stint at the Foreign Ministry, having been Foreign Minister for the first time between November 2005 and January 2007, and for the second time between January 2015 and August 2015.Speaking to […]
Some China researchers see yuan at 7 by year end: report
25, Aug 2015 (LBO) – Some research institutions in China are working on the assumption of the yuan weakening to 7 to the dollar by year end from the current 6.4135, a report said. Though these studies done by institutions in China have not yet been made public, they indicate analyst predictions of an eight […]
OPA Annual Conference on ‘Innovation and Technology for Sustainable Development’
The United Nations Development Programme (UNDP) joins the Organization of Professional Associations (OPA) to host the 28th Annual Conference 2015 of the OPA under the theme ‘Innovation and Technology for Sustainable Development’ which will be held on the 21st – 22nd September 2015.As the development arm of the United Nations and a key development partner […]
Sri Lanka a testament to world: US Asst Secy Nisha Biswal
Aug 25, 2015 (LBO) – The United States on Tuesday reaffirmed their support for Sri Lanka hailing the progress towards institutions of good governance, combating corruption and promoting reconciliation. Speaking at a special press briefing US Assistant Secretary of State for South and Central Asian Affairs Nisha Biswal told reporters Colombo that the country is […]
Asian markets volatile; China extends losses, ASPI drops 1 pct
Aug 25, 2015 (LBO) – Asian share markets temporarily bounced back before heading into the red with Chinese stocks diving, a day after their worst plunge since 2007. China’s benchmark Shanghai Composite was down 7.9 percent on Tuesday, after falling 8.5 percent on Monday. The sell-off was driven by fears that China’s slowing growth might […]
‘s new cabinet will face challenges with global market tumble: Policy maker
Aug 25, 2015 (LBO) – Sri Lanka’s new cabinet, which will be sworn in today, will face challenges with the uncertainty of global markets after China’s ‘black monday,’ economic policy legislator Harsha de Silva said.“It is a very unusual evening as we watch global markets tumbling, starting off with China with Shanghai index falling eight […]
Sri Lanka foreigners to pluck more tea for Guinness Record
Aug 25, 2015 (LBO) – Sri Lanka will aim for a Guinness Record this week by having 3,000 kilograms of tea plucked with the help of 200 foreigners before serving 35,000 cups of tea at the Esala Perahera procession, tourism promotion office said.The event at Pedro Estate in the Central Province hill country of Nuwara […]
Aitken Spence Travels attracts nature and adventure tours from Spain
(Media Release) Intensive marketing of Sri Lanka as an ideal destination for nature and adventures tours by Aitken Spence Travels has attracted a leading specialized tour operator from Spain to send two tourist groups to Sri Lanka this month. The groups’ tours in Sri Lanka were handled by Aitken Spence Travels, Sri Lanka’s leading destination […]
Warner Bros. Consumer Products and Turner Team Up in Sri Lanka
Cartoon Network Enterprises to be Licensing Representatives for WBCP in the Region (Media Release) Warner Bros. Consumer Products (WBCP) and Turner Broadcasting System Asia Pacific, Inc. today announced their agreement under which Turner’s Cartoon Network Enterprises (CNE, licensing and merchandising division) is appointed as the consumer products licensing representative for WBCP in India, Bangladesh, Sri […]
Fitch affirms Standard Chartered Bank, Sri Lanka Branch at AAA
Aug 25, 2015 (LBO) – Sri Lanka’s Fitch Ratings has affirmed Standard Chartered Bank, Sri Lanka Branch’s National Long-Term Rating at ‘AAA(lka)’ with a stable outlook.The full text of the rating announcement is reproduced below. Fitch Ratings-Colombo-24 August 2015: Fitch Ratings Lanka has affirmed Standard Chartered Bank, Sri Lanka Branch’s (SCBSL) National Long-Term Rating at […]
Malaysia Trade Corp to fund infrastructure projects in Sri Lanka
Aug 25, 2015 (LBO) – The Malaysia External Trade Development Corporation (MATRADE) is to fund infrastructure projects in Sri Lanka through Malaysia’s EXIM bank, an official said.MATRADE is ready to work with Sri Lanka in the areas of property development, monorail, railway infrastructure development, port operations, real estate, and constructions of resorts.“The funding into projects […]