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Google Loon project to cover Sri Lanka with 3G internet
July 28, 2015 (LBO) – Sri Lanka’s government and Google on Tuesday signed an agreement to cover the Island with 3G internet under ‘Google Loon project’.Sri Lanka is the first country in the world to have Internet access covering the whole country with the government support, Google Vice President and Project Leader on GoogleX Project […]
Chinese stocks continue slide following historic sell-off
July 28, 2015 (LBO) – China’s main stock index, Shanghai Composite continued its slide and fell by 4.3 percent to 3,567.38 points in early trade Tuesday, foreign media reports said. China has tried to calm investors by reassuring them it would implement prudent monetary policy to stabilise markets with the country’s central bank injecting 8.05 […]
Sri Lanka’s election law violations cross 500 incidents: PAFFREL
July 28, 2015 (LBO) – Sri Lanka’s election watchdog PAFFREL says the organization has received 492 complaints in relation to 511 electoral and general law violations by yesterday afternoon.Among them, 35 are related to acts of violence and 41 incidents of electoral and general law violations. As per the PAFFREL statistical report of election law […]
Kantale sugar gets foreign investment of USD 100MN for restructuring
July 28, 2015 (LBO) – Sri Lanka’s Board of Investment (BOI) signed 100 million US dollars agreement with M G Sugars Lanka, a subsidiary of UK based Mendel Gluck to restructure the island’s state owned Kantale Sugar Factory.“Sri Lanka’s government will own 51 percent of the factory while 49 percent will be held by the […]
Sri Lanka’s Carson says palm oil market seems promising despite crude oil price drop
July 28, 2015 (LBO) – The palm oil industry looks promising and demand should grow in future despite the price drop of crude oil and maturing trees, according to Sri Lanka’s Carson Cumberbatch group with plantations in Malaysia and Indonesia. However in spite of positive expectations, Carson’s palm oil prices experienced much volatility during the […]
Pakistan rises to eighth position in ODI rankings after series win in Sri Lanka
July 27, 2015 (LBO) – Pakistan has moved into the eighth position in the ICC ODI Team Rankings after its 3-2 series victory against Sri Lanka in the five-match series which concluded in Hambantota yesterday. Sri Lanka remains in fifth place though the country has dropped three ranking points creating an opportunity for sixth-placed England, […]
Sri Lanka’s tourism industry driven by informal arrivals, online bookings
July 27, 2015 (LBO) – Sri Lanka’s tourism industry is seeing a new trend where the informal arrivals are overtaking the formal arrivals, the tourism chief said. Rohantha Athukorala, the chairman of the Sri Lanka Tourism Promotions Bureau, giving the example of German arrivals to Sri Lanka, said 5,650 arrivals had been registered but data […]
Sri Lanka stocks close down 0.3-pct
July 27, 2015 (LBO) – Sri Lanka’s stocks closed down 0.30 percent on Monday following a nine week high, brokers said. The Colombo benchmark All Share Price Index closed 21.82 points lower at 7,247.23 down 0.30 percent. The S&P SL20 closed 3.98 points lower at 4,067.67 down 0.10 percent. Turnover was 1.08 billion rupees, down […]
Sri Lanka sells Rs50.64bn in three and six year treasury bonds
July 27, 2015 (LBO) – The issue of treasury bonds amounting to 40.00 billion rupees have been oversubscribed with 156.79 billion rupees of bids received from investors.The Central Bank has accepted 27.63 billion rupees of 03 years and eleven months bonds maturing on 01 July 2019 at a weighted average yield rate of 8.19 percent. […]
Sri Lanka sells USD165.25mn of one and two year development bonds
July 27, 2015 (LBO) – The issue of Sri Lanka development bonds amounting to 50 million US dollars have been oversubscribed with 172.50 million US dollars of bids received from investors. The central bank has accepted 110.00 million US dollars of one year and three months bonds at a floating rate of weighted average margin over […]
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July 27, 2015 (LBO) – Sri Lanka’s Fitch Ratings has assigned Pan Asia Banking Corporation PLC’s issue of senior unsecured debentures of up to 4.0 billion rupees, a final national long-term rating of ‘BBB(lka)’, a statement said.The said debentures will have maturities of three and four years with a combination of fixed-rate and floating-rate coupons, […]
Ceylinco Life ignites interest in life insurance with new ‘Supreme’ policy
Unique life policy cum investment pays lump sums every four years while retaining maturity value (News Release) An attractive new policy that will pay up to 50 per cent of the basic sum assured in lump sums every four years without any diminution of the policyholder’s maturity entitlements has been launched by Ceylinco Life, sparking fresh […]