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Sri Lanka vehicle registration down in Dec 2018
Jan 28, 2018 (LBO) – Sri Lanka’s vehicle registrations across all categories showed a slowdown in December 2018, a new research report said. “Across all categories there has been a slowdown in registrations in December,” data compiled by JB Securities, an equities research firm report shows. ” This is as a result of the measures […]
Sri Lanka expects to make certain amendments to Singapore FTA: President
Jan 25, 2019 (LBO) – Sri Lanka’s President has discussed with the Prime Minister of Singapore that the Sri Lankan side is expecting to make certain amendments to the Free Trade Agreement signed between the two countries. President Maithripala Sirisena who is on a two-day official visit to Singapore held bilateral discussions with Prime Minister […]
Sri Lanka’s USD200mn development bond issue undersubscribed
Jan 25, 2019 (LBO) – The issue of Sri Lanka development bonds amounting to 200 million US dollars have been undersubscribed with only 182 million dollars of bids received from investors. [pdf-embedder url=”http://www.lankabusinessonline.com/wp-content/uploads/2019/01/Press-Release-25.01.2019-E.pdf” title=”Press Release 25.01.2019 (E)”]
Plantation companies agree to increase basic wage of plantation workers to Rs700
Jan 25, 2019 (LBO) – Sri Lankan Plantation Companies and trade unions have agreed to increase the daily basic wage of plantation workers to 700 rupees with an additional 50 rupees under the Price Share Supplement (PSS). Further, 100 million rupees will also be allocated to the Plantation Companies out of the funds of Tea […]
Coast Conservation Department joins Single Window Investment Facilitation
The Board of Investment of Sri Lanka signed a Memorandum of Understanding with the Coast Conservation & Coastal Resources Management Department. The MOU was signed on behalf of the BOI by Mrs. Champika Malalgoda, Director General of the BOI and by Mr. B K Prabath Chandrakeerthi, Director General of the Coast Conservation & Coastal Resources […]
5G & competition, key issues for Asia-Pacific Telco investors: Fitch Ratings
Jan 25, 2019 (LBO) – Credit investors in the Asia-Pacific telecommunications sector have key questions on telcos’ growth prospects amidst rising competition, the investment case for 5G, regulatory pressures, and the implications of these factors, Fitch’s Ratings said.Fitch has published a compendium of key questions received from investors and our views on each issue, following investor […]
Opinion: Why it’s important that Facebook remain free
By Mark Zuckerberg Next month, Facebook turns 15. When I started Facebook, I wasn’t trying to build a global company. Back then, I realized you could find almost anything on the internet — music, books, information — except for the thing that matters most: people. So I built a service that people could use to connect […]
” armyworm cannot be practically eradicated: UNFAO
Jan 24, 2019 (LBO) – Food and Agriculture Organization of the United Nations (FAO) says that the Fall Armyworm (FAW) known as ‘Sena’ cannot be practically eradicated once established in a new area and it becomes one more pest that farmers need to learn about and manage.In the absence of natural control or good management, the FAW can […]
‘s Finance Ministry calls for proposals for Budget 2019
Jan 24, 2019 (LBO) – Sri Lanka’s Finance Ministry calls upon all stakeholders including the general public to make their proposals for the Budget 2019 before the February 11 as their contribution to ensure introduction of a successful budget targeting building a strong Economy and an Enriched country. The Finance Ministry expects to mould the […]
ABSF names ComBank MD S. Renganathan one of “Asia’s Greatest Leaders”
The Commercial Bank of Ceylon has started 2019 on a winning note, with the Bank being named one of “Asia’s Greatest Brands” and its Managing Director Mr S. Renganathan being honoured as one of “Asia’s Greatest Leaders” by the Asian Business & Social Forum (ABSF). The prestigious double accolades were presented to the Bank at […]
‘s Cussed Stock Exchange
By Dinesh Anthony Perera Sri Lanka’s only stock exchange in a bid to show activity recently obtained some good publicity. Due to a concerning lack of recent progress, things the stock exchange will achieve in the future were highlighted[1]. Also mentioned were trips abroad by senior staff[2] and the logic that things are so bad that […]
” as government support weakening
Jan 24, 2019 (LBO) – Fitch Ratings has downgraded the National Long-Term Rating and senior unsecured debentures of Housing Development Finance Corporation Bank (HDFC Bank) to ‘BB+(lka)’ from ‘BBB-(lka)’ reflecting the weakening of the sovereign’s ability to provide support. “The downgrade reflects Fitch’s assessment of HDFC Bank’s standalone strength, as we believe timely support from the […]