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Sri Lanka’s Seylan Bank to raise Rs5bn from listed debenture
Oct 06, 2016 (LBO) – Sri Lanka’s Seylan Bank is to raise 5.0 billion rupees from a listed debenture issue, the bank said in a stock exchange filing. The bank has decided to issue rated senior unsecured redeemable debentures worth 50 million rupees at 100 rupees each with an option to issue up to a […]
Universal Robots Denmark launches first collaborative robot in Sri Lanka
The pristine island of Sri Lanka with its serene Buddhist culture will make-way for a technology pit-stop for one of the world leaders in the concept of ‘collaborative Robotics’. Universal Robots, a Danish robot manufacturer which invented and pioneered collaborative robots or ‘co-bots’ as they are popularly called, presented this technology to the Sri Lankan […]
Sri Lankan rupee falls slightly on importer dollar demand
Oct 06, 2016 (Reuters) – The Sri Lankan rupee edged down on Thursday due to importer dollar demand in the absence of central bank intervention, and the market expects the local currency to be under pressure due to seasonal demand from importers until the year-end, dealers said. The spot rupee was at 146.80/90 per dollar […]
New board appointments at Softlogic
(PRESS RELEASE) – Softlogic Holdings PLC recently announced the appointment of Prof. Ajantha Dharmasiri and Mr. Aaron Russell-Davison as Non-Executive Independent Directors with effect from 1st July and 5th October 2016 respectively. Prof. Dharmasiri is Chairman and Director of the Board of Management of the Postgraduate Institute of Management (PIM), University of Sri Jayewardenepura. He […]
Colombo Fort pavement hawkers to be relocated to new building
Oct 06, 2016 (LBO) – The Megapolis Ministry has received cabinet approval to relocate pavement hawkers and shops in the Colombo Fort area. It was proposed to relocate pavement hawkers at Olcott Mawatha to open up the area for convenient pedestrian movement while providing access to valuable land. The estimated cost of this project is […]
Asian shares firm after U.S. service sector rebounds
TOKYO, Oct 6 (Reuters) – Asian shares firmed on Thursday, encouraged by stronger U.S. economic data and a rise in oil prices, while growing prospects of a U.S. rate hike hit gold and the boosted the dollar to one-month highs versus the yen. MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.2 percent […]
Coal carrier Ceylon Princess arrives in Sri Lanka
Oct 06, 2016 (LBO) – Sri Lanka’s Ceylon Shipping Corporation (CSC) has taken delivery of its second newly built bulk carrier for the transportation of coal to power plants. Speaking at the occasion Minister of Port and Shipping said that this will ensure energy security. “Having our own ships will ensure some stability in coal […]
UN rights expert to visit Sri Lanka to assess situation of minorities
The United Nations Special Rapporteur on minority issues, Rita Izsák-Ndiaye, will carry out an official visit to Sri Lanka from 10 to 20 October 2016 to assess the current situation of national or ethnic, religious and linguistic minorities in the country. “Experience has shown that the recognition and promotion of minority rights are critical, if […]
CEB to borrow USD150mn from ADB with treasury guarantee
Oct 05, 2016 (LBO) – Sri Lanka’s state-run Ceylon Electricity Board is to borrow 150 million US dollars from ADB through a treasury guarantee for the implementation of the green power development and energy improvement investment project. The programme is to broaden electricity transmission infrastructure, increase efficiency of the medium voltage network, implement demand based […]
SriLankan Airlines says loss reduced, six A320s on the way
Oct 05, 2016 (LBO) – SriLankan Airlines said in the financial year ending 31st March 2016, the airline recorded a reduced loss of 9.03 billion rupees, which represents a 45 percent improvement compared to the previous year. “At the end of the last financial year, without the ‘one-off’ payment relating to cancellation of the lease […]
SriLankan to lose USD47mn during BIA runway repair
Oct 05, 2016 (LBO) – SriLankan Airlines said that they would incur a revenue loss of 47 million US dollars due to the closure of Colombo’s Bandaranaike International Airport in 2017. “The first 3-4 months of next year would be tough for us as we will be cancelling close to 200 flights,” Capt. Suren Ratwatte, chief executive […]
Sri Lankan rupee edges down on importer dollar demand
Oct 05, 2016 (Reuters) – The Sri Lankan rupee edged down on Wednesday on mild importer dollar demand amid market expectation that the currency will remain under downward pressure ahead of the festival season, dealers said. The spot rupee was at 146.80/85 per dollar at 0732 GMT, compared with Tuesday’s close of 146.70/75. “The importer […]