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Mahinda officially names Gotabaya as their presidential candidate
Aug 11, 2019 (LBO) – Opposition Leader Mahinda Rajapaksa today officially named former Defence Secretary Gotabaya Rajapaksa as the presidential candidate of Sri Lanka Podujana Peramuna. Leadership of the party ceremoniously handed over to Mahinda Rajapaksa during the inaugural convention held at the Sugathadasa Indoor Stadium. Speaking at the National Convention, ex-President Rajapaksa said that […]
Opinion: Ranil vs Gotabaya is a victory for the Nation
August 10, 2019 (LBO) – Tomorrow, August 11th 2019, is Gotabaya Rajapaksa’s day to shine. At what portends to be a massive political rally, his brother, former President cum Opposition Leader Mahinda Rajapaksa will take over officially as the leader of the SLPP. The SLPP is Sri Lanka’s new major political party founded on the […]
Sri Lanka official reserves at USD 8.3bn by end July; YTD rupee appreciation 3.1-pct
Aug 09, 2019 (LBO) – Sri Lanka’s gross official reserves were 8,343.9 million US dollars by the end of July, down from 8,864.98 million US dollars in June, latest Central Bank data showed. By the end of July, foreign currency reserves were 7,366.8 million dollars while the reserve position in the IMF was 65.8 million […]
Sri Lanka industrial production up by 2.2-pct in Jun 2019
Aug 09, 2019 (LBO) – Sri Lanka’s industrial production has increased by 2.2 percent in the month of June compared to the same month in 2018, new data show. Among the manufacturing industries; volume of products of ‘manufacture of paper and paper products’ (42.7%), ‘manufacture of coke and refined petroleum products’ (22.3%) and ‘manufacture of […]
Sri Lanka looking at establishing direct flights to Cambodia
Aug 09, 2019 (LBO) – Sri Lanka is looking at the possibility of establishing direct flights to Cambodia and to enhance tourism and trade between the two countries. President Maithripala Sirisena, who is on a state visit to Cambodia, held a meeting with Cambodian Prime Minister Samdech Akka Moha Sena Pakdei Techo HUN SEN yesterday […]
Singer revenue in Q1, 2019 marginally down for previous year
Aug 09, 2019 (LBO) – Singer (Sri Lanka) PLC results for Q1 ended June 30, 2019 indicated a Group revenue at 13.9 billion rupees, when compared to 15.1 billion rupees during the previous year. The Group recorded operating profit of 1,065 million rupees for the Q1 compared to 1,284 million rupees realized during the previous […]
SriLankan Airlines suspends operations to Cochin due to floods
Aug 09, 2019 (LBO) – SrLankan Airlines has suspended operations to Cochin, India till Sunday August 11, 2019 following the closure of the airport due to floods. Cochin Airport Authority Limited announced today that all aircraft operations suspended at Kochi airport till 3 pm on Sunday. Due to prevailing adverse weather conditions, a red alert […]
Hayleys records Rs.52.6Bn turnover in first quarter 2019/20
Aug 09, 2019 (LBO) – Hayleys PLC, demonstrated resilience in challenging conditions to record an improvement in turnover and operating performance during the first quarter of the 2019/20 financial year. The Group’s turnover grew by 4 percent to 52.6 billion rupees during the period, upheld mainly by the top line growth in Hand Protection (+10%), […]
Hayleys PLC records Rs. 52.6 bn turnover in a challenging first quarter of 2019/20
Hayleys PLC, Sri Lanka’s most diversified conglomerate, demonstrated resilience in challenging conditions to record an improvement in turnover and operating performance during the first quarter of the 2019/20 financial year. The Group’s turnover grew by 4% to Rs.52.6 bn during the period, upheld mainly by the top line growth in Hand Protection (+10%), Purification (+24%) […]
Sri Lanka Telecom & Mobitel unveil Digital Roadmap for Northern Province
Sri Lanka Telecom (SLT) and Mobitel, together with the Ministry of Telecommunication and Digital Infrastructure, launched the Digital Roadmap for the Northern Province in the presence of officials and the national media at the Auditorium of the Jaffna District Secretariat in Jaffna. The Roadmap unveiled SLT Group’s progress towards achieving the national goal of transforming […]
Tea: July 2019 national average shows gains month on month
Aug 08, 2019 (LBO) – The national average for the month of July 2019 totalled 497.35 rupees against 494.48 rupees of June 2019, showing a marginal increase of 2.87 rupees month on month and in comparison to July 2018 average of 537.88 rupees however shows a decrease of 40.53 rupees. When analyzing the respective elevational […]
Pakistan suspends trade with India, downgrades diplomatic relations
Aug 08, 2019 (LBO) – Pakistan on Wednesday expelled India’s high commissioner and suspended bilateral trade as a response of India’s move to end special status for Jammu and Kashmir and split it into two union territories. Indian officials, however, says that Islamabad’s decision to suspend trade with its neighbor will hit Pakistan not India. […]