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Greece Prime Minister quits and calls general elections
Aug 21, 2015 (LBO) – Greek Prime Minister Alexis Tsipras has resigned last night putting the country in danger of political instability.General elections are expected to be held on 20 September 2015, as per media reports.“The public mandate we got on January 25 exhausted its limits and now the sovereign people must yet again have […]
Sri Lanka stocks close down 0.6-pct
Aug 20, 2015 (LBO) – Sri Lankan stocks closed down Thursday with volatility returning to the market as it lost steam amid on-going discussions among the two major political parties to form a national government, brokers said. The Colombo benchmark All Share Price Index closed down 48.96 points at 7,449.82 down 0.65 percent. The S&P […]
Sri Lanka’s Browns & Co plans tourism industry expansion
Aug 20, 2015 (LBO) – Sri Lanka’s household goods retailer Brown & Company wants to build two hotels in Maldives and expand from its current 308 operational rooms to approximately 1,000 in the near future, the company said. “As the tourism industry continues to grow rapidly, Browns will partner by contributing approximately 1,000 rooms in […]
Sri Lanka Freedom Party agrees to support ruling United National Party, MOU to be signed
Aug 20, 2015 (LBO) – Sri Lanka Freedom Party on Thursday decided to support ruling United National Party to form a stable government at least for a period of two years.The decision has been made at a SLFP central committee meeting chaired by President Maithripala Sirisena as the chairman of the party. Former President Chandrika […]
Sri Lanka’s Marxist JVP nominates Handunnetti and Mayadunne to national list
Aug 20, 2015 (LBO) – Sri Lanka’s Marxist JVP on Thursday nominated their long time politburo member Sunil Handunnetti and former auditor general S.C. Mayadunne to the national list.Sunil Handuntetti who had led the JVP campaign in the Matara district has lost his parliamentary seat at the recently concluded general election. Speaking to LBO, JVP […]
Softlogic net surges 35 pct on ICT, retailing post-ODEL acquisition
Aug 20, 2015 (LBO) – Sri Lanka’s Softlogic Holdings PLC, with diversified interests, reported a 35 percent rise in net profit to 304 million rupees for the three months to June, on revenues of 13 billion rupees, driven by stronger ICT and retailing activities. Earnings per share was 0.11 rupees for the quarter, up from […]
Sri Lanka’s Janashakthi Insurance to raise Rs 3.3bn through rights issue
Aug 20, 2015 (LBO) – Sri Lankan insurance player Janashakthi is to raise 3.3 billion rupees by way of a rights issue, the company said in a stock exchange filing. Subject to the necessary approvals, the company is to issue 181.5 million ordinary shares at 18.50 rupees each in the ratio of one for every […]
Sri Lankan cricketer Sangakkara new Brand Ambassador for anti-drug crusade
Aug 19, 2015 (LBO) – Sri Lanka’s legendary cricketer Kumar Sangakkara has been appointed as the brand ambassador of the National Dangerous Drugs Control Board on Wednesday at the President’s Official Residence.Expressing his views, Sangakkara said that he will extend every possible support to eradicate the drug menace from society which destroys the lives of […]
UK Foreign Secretary congratulates Sri Lankan Prime Minister
Aug 19, 2015 (LBO) – The UK will remain a steadfast partner for Sri Lanka as it continues on the path towards delivering reconciliation and a lasting peace across the country, the UK Foreign Secretary Philip Hammond said. “On behalf of the British Government, I send my warmest congratulations to Ranil Wickremesinghe on the occasion […]
Sri Lanka’s ex-president Mahinda Rajapaksa to continue politics
Aug 19, 2015 (LBO) – Sri Lanka’s ex- president and the candidate for parliamentary election 2015, Mahinda Rajapakse, Wednesday said that he will continue to engage in politics and represent people in the parliament.“I accept with humility, the result of the parliamentary election that just concluded and I thank the voters who placed their confidence […]
More female representation needed in Sri Lanka elections: EU observers
Aug 19, 2015 (LBO) – Sri Lanka had extremely low number of female candidates participating in the general election held this month, European election observers said.Sri Lanka signed key international instruments for equality between women and men, and the principals of equality and non-discrimination are constitutionally protected. “We recommend that efforts are made so that […]