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Sri Lanka Army leads flood relief work in the North
Dec 27, 2018 (LBO) – Sri Lanka Army have rescued a number of people stranded due to the prevailing adverse weather condition in the Kilinochchi and Mullaitivu districts that experienced a heavy rainfall resulting in flooding. Army troops have commenced providing immediate rescue and relief assistance, evacuation and relocation, medical assistance, cooked meals and other […]
‘s Ken Hu expresses confidence in business
Dec 28, 2018 (LBO) – Huawei rotating Chairman Ken Hu issued a strong message of confidence in Huawei’s business growth and prospects, citing the trust of hundreds of network operators, nearly half of the world’s Fortune 500 companies, and hundreds of millions of consumers. Huawei’s 2018 revenue, he said, was expected to exceed US$100 billion. He was […]
Harsha assumes duties as Minister of Economic Reform
Dec 26, 2018 (LBO) – Sri Lanka’s former deputy Minister of National Policies and Economic Affairs assumed duties as Minister of Economic Reform and Public Distribution, Tuesday. (Edited)
Benefits of global oil price reduction should be passed on to people: Fin Min
Dec 26, 2018 (LBO) – As a result of the price formula introduced by the Government, the price of petrol and diesel has been reduced by Rs.30 and Rs.20 per litre respectively when compared with the last price increase on October 10, 2018. Therefore the Government stresses that the bus fares and the charges in the […]
Sri Lanka vehicle registration down in Nov 2018
Dec 26, 2018 (LBO) – Vehicle registration momentum across most categories came down in the month of November relative to October 2018, a new report said. Data compiled by JB Securities equities research shows total car registrations recorded 3,354 units in Nov down from 5,826 units in Oct but up from 2,400 units 12 months ago. […]
Net outflows from securities market & CSE surpasses USD200mn in October
Dec 21, 2018 (LBO) – Sri Lanka’s Central Bank says the trend of foreign investment outflows from the financial account continued during October, with notable outflows from the Colombo Stock Exchange and the government securities market.Government securities market recorded a net outflow of 172 million dollars in the month of October while foreign investments in […]
CSE announces changes in S&P SL20 with year-end index rebalance
Dec 21, 2018 (LBO) – Colombo Stock Exchange (CSE) has announced the following changes in S&P Sri Lanka 20 index constituents made by S&P Dow Jones Indices at the 2018 year-end index rebalance. The exclusions and inclusions as announced by S&P Dow Jones Indices, effective from 24 December 2018 (after the market close of 21 […]
IBM appoints Riza Wadood as new Country General Manager for Sri Lanka
IBM (NYSE: IBM) today announced the appointment of Riza Wadood as the new Country General Manager for Sri Lanka. This leadership announcement further demonstrates IBM’s commitment in the region. In his new role, Riza will be responsible for business growth and leadership of IBM in Sri Lanka. He will lead the team to support the […]
BOI inks deals in tourism and pharmaceutical sectors
Dec 21, 2018 (LBO) – The Board of Investment signed Agreements for projects in the field of hotels and the manufacture of pharmaceuticals. The Agreements were signed on behalf of the BOI by the Chairman Hemasiri Fernando. Also present was Champika Malalgoda, Director General of BOI. The Wild Beach Resorts (Private Ltd) project is to […]
Sri Lanka’s Commercial Bank to raise Rs15bn through listed debenture
Dec 20, 2018 (LBO) – Sri Lanka’s listed Commercial Bank plans to raise as much as 15 billion rupees from an issue of debentures which will be quoted on the Colombo Stock Exchange. The bank said in a stock exchange filing that they seek to issue 75 million debentures at 100 rupees each with a […]
LSEG Technology implements settlement solution for Singapore Exchange
Dec 20, 2018 (LBO) – LSEG Technology has successfully implemented Settlement and Central Securities Depository functionality for Singapore Exchange (SGX). In live operation from 10 December 2018, this was a whole market implementation, involving brokers, custodian banks, settlement banks, registrars and retail investors. Built upon the same technical and hardware framework as the Clearing (Central Counterpart) […]
Rishad vows to recover slashed funds of IDPs as new minister
Sri Lanka’s victorious Minister of Industry and Commerce who has been given a bigger Ministerial mandate on 20 December welcomed Prime Minister Ranil Wickremesinghe’s entry to Northern Development work-and vowed to re-instate IDP funds wrongfully slashed by the recently dismissed administration. “As an MP representing the Northern Vanni District, I congratulate our Prime Minister Ranil […]