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“The sooner we have political stability the better”: Dialog Chief
July 08, 2015 (LBO) – Political uncertainty coming to an end is a good thing for all listed companies as this will lead the way for more investments, Hans Wijayasuriya, Group Chief Executive, Dialog Axiata said. “The sooner we see stability the better,” he said.“This will also pave the way for more foreign investments,” “But […]
Chinese shares drop over 8-pct, amid regulators help
July 08, 2015 (LBO) – China’s main stock index, Shanghai Composite fell 8.2 percent at the start of trading Wednesday with the index dropping 4 percent to 3576.79, foreign media reports said. The smaller Shenzhen Composite fell 3.9 percent. The media report said, the slump came despite more moves by China’s regulators to try and […]
Sri Lanka’s to probe into tsunami relief vehicles
July 8,2015 (LBO) – Sri Lanka’s Minister of Finance, Ravi Karunanayake, has initiated an inquiry into the importation of high-value vehicles for tsunami relief and subsequently given to third parties without paying due taxes and depriving the state of billions of rupees, a statement said.This was brought to light when a vehicle imported for a […]
Team of American multinational Honeywell Corporation to arrive Sri Lanka next month: Eran
July 08, 2015 (LBO) – Honeywell Corporation, a Fortune 100 diversified technology and manufacturing conglomerate is to send a team next month to discuss investment opportunities in Sri Lanka, a former Deputy Minister said.Former Deputy Minister of Investment Promotion Eran Wickramaratne told LBO, the Corporation initially proposed to send a team here on 17 August […]
Sri Lanka Stock Market up 15-pct by April 2015: Report
July 08, 2015 (LBO) – Sri Lanka’s main stock index showed an increase of 15.3 percent by end April 2015 in comparison to the same period last year, a recent Finance Ministry report said. “All Share Price Index (ASPI) reached 7,179 by end of April 2015, which is an increase of 15.3 percent in comparison […]
Sri Lanka tea faces challenges due to other beverages, climate and wages: Study
July 08, 2015 (LBO) – Competition from other beverages, climatic changes and worker wages are the key issues global tea industry is facing including Sri Lanka, a recent study has showed. “The study points out that the tea industry will have to fight it out to sustain or grow its share with strong competition coming […]
“MSM India” gets Indian tour commercial rights: Sri Lanka Cricket
July 08, 2015 (LBO) – Sri Lanka Cricket has awarded the commercial rights of the upcoming Indian Test tour to the owner of the popular Asian sports channel “Sony Six”, a media release said.“MSM were granted global TV broadcast rights along with radio, internet and mobile rights for the territory outside Sri Lanka,” Sri Lanka […]
“MR getting nominations will help UNP to win” former deputy Minister
July 07, 2015 (LBO) – Sri Lanka’s former President, Mahinda Rajapaksa obtaining nomination for the general election will help the United National Party win more votes, a former deputy Minister said. “Mahinda Rajapaksa getting nomination and contesting the August general elections will only be an added advantage for the UNP to win more votes,” Ajith […]
Sri Lanka COPE didn’t meet bond report deadline,COPE Chief presented his own document: PM
July 7, 2015 (LBO) –Sri Lanka’s Prime Minister Ranil Wickramasinghe said that the inquiry into the Central Bank bond issue by the committee on public enterprises (COPE) did not report to the Parliament as directed by the Speaker but instead asked for more time which was granted. “You will recall that consequent to a motion […]
Sri Lanka stocks close down 0.3-pct on 12 week low
July 07, 2015 (LBO) – Sri Lanka’s stocks closed down at 0.31 percent for the second consecutive day on a 12 week low with index heavy stocks showing losses, Tuesday, brokers said. The Colombo benchmark All Share Price Index (ASPI) closed 21.63 points lower at 6,967.78 down 0.31percent. The S&P SL20 closed 19.96 points lower […]
‘s CB governor says “I was not in the dealing room.”,rejects COPE allegations
July 7, 2015 (LBO) – Sri Lanka’s Central Bank Governor Arjuna Mahendran said that he never entered the tender board room where bids were assessed but gave instructions to accept bids of 10 billion rupees or more being in the corridor outside the Public Debt Department. He said while replying a reporter on the controversial […]
Sri Lanka’s Plantation association says adequate replanting rates maintained for tea and rubber
July 7, 2015 (LBO) – Sri Lanka’s Regional Plantation Companies (RPCs) say that they have maintained adequate replanting rates in the tea and rubber estates and increased crop production despite having only 59 percent of the workers and 82 percent of the crop bearing extent compared with the time of privatization in 1992. “The ‘Indenture […]