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Happy New Year 2019: New Year celebrations around the World
Jan 01, 2019 (LBO) – Major cities around the world kick-started the New Year 2019 with fireworks displays and dazzling performances and shows. Dubai, UAE rang in 2019 with a blinding light and fireworks show that illuminated the world’s tallest building, the Burj Khalifa, and also set a Guinness World Record for largest LED illuminated […]
ComBank issues UnionPay cards for first time in Sri Lanka
The Commercial Bank of Ceylon has become the first Bank in Sri Lanka to issue UnionPay Credit and Debit Cards, the card brand with the largest customer base in the world, making Sri Lanka the 51st market in the world to issue UnionPay cards. Sri Lanka’s fastest-growing credit card issuer, the Bank said it will […]
‘s Dialog announce live transmission of South Asia’s first 5G pilot
Jan 01, 2019 (LBO) – Dialog Axiata announced the commissioning of South Asia’s first fully functional and standards compliant 5G transmission using commercial grade base stations and end user devices. Dialog’s pre-commercial 5G transmission was enabled in collaboration with the Telecommunications Regulatory Commission of Sri Lanka (TRCSL) who has lead the region in making available […]
‘s annual smartphone shipments exceed 200Mn units
Jan 01, 2019 (LBO) – HUAWEI Consumer BG announced recently that its global smartphone shipments for the 2018 year have exceeded 200 million units, thanks to the enthusiastic support of consumers and partners around the world, as well as the strength of the smartphone products launched in 2018, including the HUAWEI P20 and Mate 20 […]
Sri Lanka inflation 2.8-pct in Dec 2018
Jan 01, 2019 (LBO) – Sri Lanka’s Colombo Consumer Price Index was down to 2.8 percent in December 2018 from 3.3 percent in November 2018, data shows. “The YoY inflation as measured by CCPI is 2.8 percent in December 2018 and inflation calculated for November was 3.3 percent,” the latest data from the Department of Census and Statistics […]
Colombo Port handles record breaking 7-millionth container for 2018
Dec 31, 2018 (LBO) – Colombo Port on Monday handled its seven millionth container (TEU) at the Jaya Container Terminal of Sri Lanka Ports Authority with joint marketing strategies carried out by three terminals, JCT, SAGT, and CICT. The function was graced by new Ports Minister Sagala Rathnayake with the participation of the Secretary of […]
R H S Samaratunga assumes duties as Secretary to Treasury, Finance & Media
Dr. R.H.S. Samaratunga who has been reappointed as the Secretary to the Treasury, Ministry of Finance and Mass Media assumed duties at the Finance Ministry today morning.Deputy Secretary to Treasury A.R. Desapriya, Additional Secretary R Semasinghe and senior officials of the Treasury and the Ministry of Finance were present on the occasion.
CICT ends 2018 with 2.65mn TEUs, 38-pct of Colombo Port’s volume
Dec 31, 2018 (LBO) – Colombo International Container Terminals (CICT) has reported handling 2.65 million teus for the 12 months ending 31st December 2018, recording a 13 percent increase in its annual throughput and contributing 38 percent of the Port of Colombo’s volumes in the year just concluded. A significant factor in the achievement of 7 […]
First Capital increases equity exposure as global funds reversing towards Asia
Dec 28, 2018 (LBO) – First Capital Research has upgraded its equity exposure to 60 percent with the belief that the events that have unfolded globally may benefit Sri Lanka and the equity market over the next few months positively impacting earnings and possibly leading to net foreign inflows. Over the last 3 months, they […]
Opinion: Revolution 4.0 – An intriguing case of the man and machine
By Taamara de Silva “The changes are so profound that, from the perspective of human history, there has never been a time of greater promise or potential peril.” – Klaus Schwab, Founder and Executive Chairman of the World Economic Forum We sway on the cusp of a technological revolution that will forever reconstruct the very fabric […]
Sri Lanka Central Bank maintains policy interest rates at current levels
Dec 28, 2018 (LBO) – Monetary Board of the Central Bank has decided to maintain policy interest rates at their current levels with the broad aim of stabilizing inflation at mid-single-digit levels in the medium term to enable the economy to achieve its potential growth. Accordingly, the Standing Deposit Facility Rate (SDFR) and Standing Lending Facility Rate […]
Laugfs Gas to infuse Rs1.1bn for expansion of its LPG Transshipment Terminal
Dec 27, 2018 (LBO) – Laugfs Gas will infuse 1,150 million rupees for the expansion of its LPG Transshipment Terminal facility located at Hambantota International Port, the company said in a stock exchange filing. Under the expansion plan, the storage capacity of the terminal to be extended up to 45,000 MT from 30,000 MT supporting […]