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Pakistan High Commissioner hosts Eid dinner for cricketers
July 20, 2015 (LBO) – The High Commission of Pakistan in Sri Lanka recently hosted a colorful reception for the National teams and managements of Pakistan and Sri Lanka Cricket, in Colombo. “The current series has been a memorable one for both sides, for Pakistan it was significant due to our first test series victory […]
Phone makers in talks to end use of sim cards
July 19, 2015 (LBO) – International phone makers Apple and Samsung are in advanced talks to produce phones with embedded SIMs that will make use of SIM cards obsolete.Industry associations such as GSMA together with phone makers are working on a ‘common architecture’ which could take at least one year to deploy, the UK-based Financial […]
India Considers Road Bridge To Sri Lanka With ADB Funding
July 19, 2015 (LBO) – India is planning a feasibility study for a bridge that connects India and Sri Lanka which may cost .6 billion, Indian media reported. Nitin Gadkari, the Minister for Road Transport, Highways and Shipping, said he had discussed this with the chairman of Asian Development Bank and the development bank was […]
Intel earnings rise but PC chip sales disappoint
July 18, 2015 (LBO) – Intel, the world’s leading semiconductor company, reported higher than expected earnings this week even though sales of chips for PCs were predictably lower. The California-based chipmaker posted second-quarter earnings of 55 cents per share on revenue of .2 billion above analyst expectations of 50 cents a share on $13.04 billion […]
Sri Lanka signs USD1.1Bn currency swap agreement with India
July 17, 2015 (LBO) – Sri Lanka’s Central Bank on Friday signed the 1.1 billion US dollars worth currency swap agreement with Indian Reserve Bank in New Delhi. The Central Bank releasing a statement said this new facility will allow the Bank to further strengthen its position in the financial market and bring greater stability […]
Sri Lanka’s Planters’ Association says 1000 rupees wage offer cost Rs18bn annually
July 17, 2015 (LBO) – Sri Lanka’s Planters’ Association of Ceylon said it will cost 18 billion per year for the industry to pay the 1000 rupees wage hike offer for workers, a statement said.The Regional Plantation Companies (RPCs) recently proposed a productivity linked wage proposal and raise the daily pay to 1000 rupees in […]
Sri Lanka stocks close up 0.5-pct
July 17, 2015 (LBO) – Sri Lanka’s stocks closed up 0.53 percent on Friday with investor confidence gaining further and telecom and banking sector stocks continuing to show gains, brokers said. The Colombo benchmark All Share Price Index closed 37.82 points higher at 7,161.96 up 0.53 percent. The S&P SL20 closed 22.54 points higher at […]
Sri Lanka’s JVP files petition with Human Rights Commission against MR
July 17, 2015 (LBO) – Sri Lanka’s Marxist JVP on Friday filed a petition with the Human Rights Commission against former President Mahinda Rajapaksa’s use of state vehicles and security. The petition filed by JVP Kurunegala District team leader Namal Karunaratne points out that the human rights of other candidates (Right to equality) are being […]
Finance Minister meets South Korean Ambassador
Sri Lanka’s Finance Minister Ravi Karunanayake on Friday (17) met the newly appointed Ambassador of the Republic of Korea to Sri Lanka, Chang Won-sam.
Shopping Fashion Online: An enormous opportunity for entrepreneurs but are we ready yet?
July 17, 2015 (LBO) – Sri Lankan fashion entrepreneurs are open to vast opportunities in the digital space but will have to face a different set of challenges, a Sri Lankan entrepreneur said. “The number of opportunities in the digital domain as an entrepreneur is enormous,” Linda Speldewinde, Founder and Managing Director, AOD International Design […]
Nestlé Professional takes lead as Platinum Sponsor for Culinary Art 2015
(Nestlé News Release) – Nestlé Professional, the leading out-of-home food and beverage solutions provider of Nestlé Lanka, joined hands with the Chefs Guild of Lanka to become Platinum Sponsor for Sri Lanka’s largest food and trade exhibition, Culinary Art 2015. As one of the most sought-after food exhibitions for the F&B fraternity, attracting over 2,000 […]
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July 17, 2015 (LBO) – Sri Lanka’s Fitch Ratings has assigned Bank of Ceylon’s proposed Basel II-compliant subordinated debentures of up to 8 billion rupees an expected national long term rating of ‘AA(lka)(EXP)’. The proposed issuance, which will have tenors of five and eight years and carry fixed and floating coupons, will be listed on the […]