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Sri Lanka delegation arrives in Thailand for fourth Bangkok talks
(PRESS RELEASE) Rishad leads SL delegation to BKK APTA ‘APTA a pioneering agreement’-Rishad Fourth APTA Ministerial Session in BKK SL an APTA member alongside India & China New member joining: Mongolia Major changes to APTA likely As major changes are sweeping the 42 year long historic Bangkok Agreement, a top official delegation left Sri Lanka […]
Access Engineering invests in Rs10bn mixed development
Jan 11, 2017 (LBO) – Sri Lanka’s Access Engineering has invested 2.295 billion rupees in a joint venture to build a mixed development project at Colombo 15. The joint venture, Hotel 10 (Private) Limited, comprises of Mustafa’s PTE LTD, China Harbour Engineering Company (Lanka) Limited and Access Engineering PLC. The company said in a stock […]
Obama says democracy requires solidarity, in farewell speech
Jan 11, 2016 (LBO) – U.S. President Barack Obama gave his farewell speech on Tuesday, highlighting several achievements during his tenure, including reversing a recession and taking out the mastermind of 9/11. He called on democrats to support a peaceful transition of power, the hallmark of U.S. elections, urging supporters that democracy does not require […]
Sri Lanka’s main Airport congestion now under control: Minister
Jan 10, 2017 (LBO) – Sri Lanka’s Tourism Development Minister says the initial congestion caused as a result of the partial closure of the Katunayake International Airport beginning January 6 has now been eased. The airport is closed from 8.30 am to 4.30 pm daily for a period of three months to carry out resurfacing […]
Sri Lanka tea see good demand at auction
Jan 11, 2016 (LBO) – Sri Lanka tea’s weekly Auction concluded seeing good demand with high grown tea prices recording gains and low grown teas fluctuating, a report said. “There was good demand. Prices for low grown teas tend to fluctuate whilst the prices for high and medium grown small leaf teas continued to be buoyant,” […]
Yahoo to be named Altaba, Mayer to leave board after Verizon deal
Jan 10, 2017 (Reuters) – Yahoo Inc said Monday that it would rename itself Altaba Inc and Chief Executive Officer Marissa Mayer would step down from the board after the closing of its deal with Verizon Communications Inc. Yahoo has a deal to sell its core internet business, which includes its digital advertising, email and […]
MR outlines issues of proposed Hambantota port deal
Since the future of the Hambantota port is now under discussion, I wish to explain to the public, my position on this matter. The loans taken for the construction of this harbour were 450 million USD for the first phase, 70 million USD for the bunkering facility and 802 million USD for the second phase […]
Deputy Foreign Affairs Minister addresses public forum on “Indian Ocean”
Dr. Harsha de Silva, Deputy Minister of Foreign Affairs, visited Singapore on 9th January 2017 to address the Public Forum cum Panel Discussion on the theme “The Indian Ocean” organised by the Institute of South Asian Studies (ISAS) of the National University of Singapore. The other speakers who participated at this inaugural session of Distinguished […]
Sri Lankan shares end marginally lower; T-bill yields hit 4-mth high
Jan 10, 2017 (Reuters) – Sri Lankan shares erased early gains to end marginally lower on Tuesday as yields on short-term government securities rose in a weekly auction amid uncertainty over government’s monetary and budget policies. Yields on treasury bill auctions rose 9-19 basis points at a weekly auction on Tuesday to its four-month high, […]
Banker magazine picks Ravi as Finance Minister of the year, Asia Pacific
Jan 10, 2017 (LBO) – Finance Minister Ravi Karunanayake has been selected as the Finance Minister of 2016 for Asia-Pacific by the prestigious ‘The Banker’ magazine. ‘The Banker’ published in London has selected the finance minister who best managed to stimulate growth and stabilize the economy of their country. The magazine says crucially, Karunanayake secured […]
MullenLowe moves Sri Lanka operations to ultramodern office
MullenLowe Sri Lanka, the local office of the MullenLowe network – a member of the Interpublic Group (IPG), will formally unveil its ultra-modern office at 125, Kynsey Road, Colombo – 7, on the 19th of January under the patronage of Hon. Eran Wickramaratne – Deputy Minister of Public Enterprise Development and Member of Parliament (MP) […]
Sri Lanka should rethink immigration, diaspora policies: Hausmann
Jan 10, 2016 (LBO) – Sri Lanka should rethink its immigration, diaspora and product development policies so as to encourage more complexity in exports, economist Ricardo Hausmann of Harvard University said in Colombo on Monday. Immigrants and diaspora bring with them significant know-how and skills necessary for the setting up of new industries, a process […]