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Thai-Sri Lanka FTA talks launched; USD1.5bn mutual trade expected by 2020
July 13, 2018 (LBO) – Sri Lanka and Thailand on Friday officially declared the launch of negotiations for the proposed Free Trade Agreement (FTA) between the two countries. The first round of negotiations was held in Colombo with the blessings of the Thailand Prime Minister General Prayut Chan-o-Cha who paid an official visit to Sri […]
Colombo stocks up for the week on sluggish turnover, foreign selling continues
July 13, 2018 (LBO) – Colombo stocks finished the week up, snapping the downtrend that persisted for the past several weeks. The All Share Price Index (ASPI) finished the week up .5% and the S&P SL 20 was up .33%. Turnover dipped to low levels near US$1mn a day mid week, before rebounding moderately later […]
Sri Lanka seeks investments from France for Megapolis project
July 13, 2018 (LBO) – Sri Lanka recently concluded an investment forum in France aimed at attracting foreign investments for the Megapolis project that is being carried out in the Western Province. The forum was held in Paris, France from 01 July to 06 July 2018 with the participation of well-known French companies. Speaking at […]
Fitch removes Rating Watch Negative on Distilleries; affirms at AAA(lka)
July 13, 2018 (LBO) – Fitch Ratings has removed the Rating Watch Negative on Distilleries Company’s National Long-Term Rating, and has affirmed the rating at ‘AAA(lka)’. Full text of the statement is reproduced below. Fitch Ratings-Colombo-13 July 2018: Fitch Ratings has removed the Rating Watch Negative (RWN) on Distilleries Company of Sri Lanka PLC’s (DIST) National Long-Term […]
Sotheby’s International Realty partners with Catalina Koggala’s luxury villa development
July 12, 2018 (LBO) – Sri Lanka Sotheby’s International Realty today announced an agreement to work with Catalina Koggala, Sri Lanka’s premiere villa-based residential country club, to market Catalina’s luxury villas globally. Charles Phillpot, Sales and Marketing director of Sri Lanka Sotheby’s International Realty, said “There is currently a lot of interest from many […]
Tripartite MOU signed between BOI, EDB & Business France to enhance trade
A Memorandum of Understanding was signed between the Board of Investment of Sri Lanka, the Export Development Board of Sri Lanka and Business France today.Mr. Dumindra Ratnayake, Chairman of the BOI, Mrs.Indira Malwatte, Chairperson of the EDB and Ms Sophie Clavelier, Head of Business France, South Asia, signed the MOU on behalf of the respective […]
Arpico Finance, Associated Motor Finance merger to be completed by Nov 2019
July 12, 2018 (LBO) – Process of amalgamating Associated Motor Finance (AMF) with Arpico Finance Company (AFC) which commenced in August 2017 is expected to be completed with their legal merger by November 2019. Associated Motor Finance said in a stock exchange filing that they are not able to inform the shareholders as to the […]
Government uses an unseen formula to manipulate fuel prices: MR
July 12, 2018 (LBO) – Sri Lanka’s ex-President Mahinda Rajapaksa alleges the government for what he called fleecing the public through fuel price manipulation using a price formula which nobody has seen. Rajapaksa says even though this kind of price manipulation is a standard practice in the large-scale retail industry, it is quite clear that […]
British High Commissioner to Sri Lanka visits LSEG Sri Lanka
A delegation led by British High Commissioner to Sri Lanka and Ambassador to Maldives, H.E. James Dauris visited London Stock Exchange Group (LSEG) Sri Lanka at the Group’s facility in Trace Expert City, Colombo 10. The High Commissioner was welcomed by Dee Liyanwela, Head of LSEG Sri Lanka along with members of the leadership team. […]
Amnesty International against Sri Lanka on death penalty
July 12, 2018 (LBO) – Sri Lanka must pull back from any plans to implement the death penalty and preserve its longstanding positive record on shunning this cruel and irreversible punishment, Amnesty International said. The Sri Lankan President, Maithripala Srisena, is pressing ahead with plans to execute 19 death row prisoners convicted of drug-related offenses. […]
Ambeon Holdings announces an interim dividend of 1.25 rupees per share
Subsequent to the transformation and repositioning of the Ambeon Group, which included restructuring of its diversified businesses to bring about collective focus, optimize investments and increase shareholder value, Ambeon Holdings PLC announced today of an interim dividend to all its shareholders. The total dividend payout announced is LKR 446 million translating into LKR. 1.25 per […]
Sri Lankan scents inspire high fashion fragrance
July 12, 2018 (LBO) – Sri Lankan scents are the inspiration for one of the latest perfumes by Boucheron Paris.The fragrance will be available exclusively at Harrods department store in July. From www.cosmeticsbusiness.com: “Luxury French perfume brand Boucheron Paris has introduced a new fragrance inspired by Sri Lanka. Nathalie Lorson is responsible for creating the […]