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Cruise ships calling Port of Colombo up 29-pct in 2018
Dec 04, 2018 (LBO) – A remarkable growth of cruise ships calling at the Port of Colombo has been reported in this year, Sri Lanka Ports Authority said. According to the authority, 45 cruise ships have been called at Port of Colombo for the first 10 months of this year which is a 28.8 percent growth against […]
” amidst political crisis; outlook stable
Dec 04, 2018 (LBO) – Fitch Ratings has downgraded Sri Lanka’s Long-Term Foreign-Currency Issuer Default Rating (IDR) to ‘B’ from ‘B+’, with a stable outlook. Fitch Ratings said the downgrade reflects heightened external refinancing risks, an uncertain policy outlook, and the risk of a slowdown in fiscal consolidation as a result of an ongoing political crisis. KEY […]
GSK to divest Horlicks and other consumer healthcare nutrition products to Unilever
Dec 03, 2018 (LBO) – GlaxoSmithKline plc (LSE/NYSE: GSK) today announced the divestment of Horlicks and other consumer healthcare nutrition brands to Unilever plc (“Unilever”) and the merger of GSK Consumer Healthcare Limited (“GSK India”) with Hindustan Unilever Limited (“HUL”). The value of the deal was approximately £3.1 billion based on the 15-day volume weighted average […]
Appeal Court issues interim order preventing PM & Cabinet from functioning
Dec 03, 2018 (LBO) – Sri Lanka’s Court of Appeal on Monday issued an interim order restraining Prime Minister Mahinda Rajapaksa and the Cabinet from functioning until the petition against them is heard. Notices have also been issued to respondents to appear before the court on 12 December 2018. Judges who considered the arguments presented by […]
SriLankan gets approval to conduct base maintenance operations on A330 aircraft
Dec 03, 2018 (LBO) – European Aviation Safety Agency (EASA) has approved SriLankan Engineering to carry out base maintenance operations on Airbus A330 aircraft as per their regulations. SriLankan Engineering is the aircraft Maintenance-Repair-Overhaul (MRO) arm of SriLankan Airlines, the national carrier of Sri Lanka. SriLankan Airlines said this certification completes the requirements for SriLankan […]
High Commissioner of Sri Lanka in UK calls on Commonwealth Sec-Gen
The newly appointed High Commissioner of Sri Lanka in the United Kingdom Manisha Gunasekera called on the Commonwealth Secretary-General Patricia Scotland on Thursday 29 November 2018 at the Commonwealth Secretariat in Marlborough House.The meeting entailed discussion on issues of mutual interest related to Sri Lanka’s longstanding cooperation within the Commonwealth.High Commission of Sri Lanka London
Sri Lankan IT-BPM delegation visits Sydney for market expansion
In collaboration with the Consulate General of Sri Lanka in Sydney, seven IT-BPM companies led by Information and Communication Technology Agency (ICTA) visited Sydney from 28 – 30 November 2018 on an accelerated market access programme to facilitate and support the IT industry in Sri Lanka. Under the Economic Diplomacy Program initiated by the Ministry […]
‘s stocks and bonds top $ 800mn as constitutional crisis drags on
December 3, 2018 (LBO) – Foreign selling of Sri Lanka’s stocks and bonds continues at a brisk pace in 2018 with net foreign outflows topping Rs145bn (US0mn).Since the constitutional crisis began just over one month ago, approximately Rs45bn (US$250mn) has fled Sri Lanka’s local stock and bond markets. The currency has been adversely impacted leaving […]
‘s Aitken Spence commences 150 years celebrations
Aitken Spence inaugurated its 150th Anniversary Celebrations with a religious blessings ceremony that commenced on Friday, 30th November. The ceremony was held at Aitken Spence Towers in Colombo with the participation of senior religious leaders, board of directors, senior management and long-standing staff. The religious blessings were invoked by His Eminence Malcolm Cardinal Ranjith, Venerable […]
Dialog & Ideamart launch NB-IoT Development Board to accelerate innovations
Dialog Axiata PLC, Sri Lanka’s premier connectivity provider, and Ideamart, a platform for developers and content providers, announced the production of a Narrowband – Internet of Things (NB-IoT) development board, to encourage and facilitate IoT innovations and developments in the country by the local developer community. NB-IoT is a standards-based, low power wide area (LPWA) […]
MR says Executive President has powers to call for general election
Dec 03, 2018 (LBO) – With petitions filed against the dissolution of Parliament fixed for argument on December 4, 5 and 6 disputed Prime Minister, Mahinda Rajapaksa in an address to the nation last evening showed historical instances when general elections were called to resolve political crises in the island. “From the time of our first Parliament, elections […]
‘ National Long-Term Ratings
Nov 30, 2018 (LBO) – Fitch Ratings has affirmed and simultaneously withdrawn the National Long-Term Ratings of all rated Sri Lankan insurers as the ratings are no longer considered by Fitch to be relevant to the agency’s coverage because the entities have not issued any debt. The rating agency, however, said the issuers’ existing National Insurer Financial […]