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Lanka Rating Agency Restrained By SEC from providing new ratings
June 4, 2015 (LBO) -The Securities & Exchange Commission of Sri Lanka (SEC) has taken steps to restrain Lanka Rating Agency Ltd from providing new ratings with effect from 25th March 2015 until the company complies with regulatory requirements imposed by the Commission, the security watch dog said in a statement today. “The Commission took […]
Cycling Culture Can Help Cure Sri Lanka’s Road Congestion: Min Ranawaka
Jun 04, 2015 (LBO) – Cycling can help reducing the congestion on Sri Lanka urban roads and conserve energy, Minister of Power and Energy said. “A vehicle needs to travel at 60-70 km/h to be fuel economical, this was possible in the 1980’s in Colombo, but now it has become 8 km/h and in the […]
Stocks Close Down 0.4-pct; Political Uncertainty Keeps Investors Away
Jun 04, 2015 (LBO) – Sri Lanka’s stocks closed down for a fourth consecutive day with the country’s political uncertainty affecting investor confidence, brokers said. The Colombo benchmark All Share Price Index (ASPI) closed 28.55 points lower at 7,120.91 down 0.4 percent. The S&P SL20 closed 15. 48 points lower at 3,945.54 down 0.39 percent. […]
‘s Nawaloka Hospital Enters Elder Care Service Business
EJune 4, 2015 (LBO) – Sri Lanka’s Nawaloka Medical Centre (Pvt) Ltd, a subsidiary of Nawaloka Hospital signed a memorandum of understanding with Harmony and Fusion International Pvt Ltd to put up elder care service business.The joint venture will carry out the service under Nawaloka Guardina International (Pvt) Ltd, in which Nawaloka Medical Centre (Pvt) […]
‘s Rs5bn Debt Issue Oversubscribed
June 4, 2015 (LBO) – Sri Lanka’s DFCC Vardhana Bank said, that it issued five billion subordinated and senior unsecured listed redeemable rated 5-year listed debt in order to raise 5 billion rupee funds to utilize for on-going lending activities of the bank.The “Type A”, senior, unsecured, listed, redeemable, rated five year (2015/2020) debentures was […]
Colombo, Fastest Growing City For MasterCard Tourism Index
June 4, 2015 (LBO) – Sri Lanka’s commercial capital – Colombo leads the pack as the fastest growing city in terms of international, overnight visitor numbers in the annual MasterCard Global Destinations Cities Index, a release said.“Colombo’s ranking as the fastest growing city on MasterCard’s latest Global Destination Cities Index reflects the rising appeal of […]
Ornamental Fish Exports +17% in 2014; Highest ROI In Export Sector
Jun 04, 2015 (LBO) – Sri Lanka’s ornamental fish exports has grown 17 percent in 2014 with the sector showing the highest return on investment in the country’s exports, a senior official said in a statement.“The ornamental fish sector has a great promise for exports growth,” Bandula Egodage, Chairman, Export Development Board said in a […]
Sri Lanka Chemcel operations to cease
Jun 04, 2015 (LBO) – Archer Daniels Midland, a multinational said that its closing the Sri Lankan unit of chemicals manufacturing, Chemcel (Pvt) limited, in which Chemanex PLC also has a stake. “Archer Daniels Midland Europe BV, the main shareholder of Chemcel, has informed us that Chemcel will cease operations based on a number of […]
Sri Lanka’s T-bill yields close flat on Wednesday
June 3, 2015 (LBO) – Sri Lanka’s Treasury bill yields close flat at Wednesday’s auction with 3-months yield unchanged at 6.07 percent while 6-month yields also were flat at 6.18 percent, data from the state debt office showed.It was decided to accept 6,632 million rupees from the auction of 03 month yields from received 19,629 […]
Sri Lanka Nestle Unit Assures MAGGI Meets Food Laws; India Keeps Testing
Jun 03, 2015 (LBO) – Nestle Lanka Plc, a unit of a Swiss-based food group said, that the company’s product “Maggi Noodles” which is manufactured locally, meets all the food laws in the Indian Ocean Island. “The quality and safety of our products is the top priority for the company,” Nestle Lanka said.“MAGGI Noodles is […]
Sri Lanka stocks close down 0.6-pct
Jun 03, 2015 (LBO) – Sri Lanka’s stocks closed down 0.64 percent for a third consecutive day with some retail investor activity in the market, brokers said. The Colombo benchmark All Share Price Index (ASPI) closed 45.73 points lower at 7,220.29 down 0.64 percent. The S&P SL20 closed 25.15 points lower at 3,961.02 down 0.62 […]
LBR LBO Enterprise Summit 2015 – Sri Lanka – “Technology Drives Disruption: Embrace or Face Extinction” – 14 July 2015
Topic: Sri Lanka – Technology Drives Disruption: Embrace or Face Extinction Date/Time: Tuesday 14th July 2015 | 0845 – 1800 Hrs Venue: Oak Room, Cinnamon Grand Host: Lakshaman Bandaranayake | Founder, Publisher | Lanka Business Online [LBR LBO] Inquiries: Lakshaman Bandaranayake | lakshaman@lbo.lk | 071 176 0167 or 072 776 0167 Nimalka Karunatillake | nimalka@lbo.lk | […]