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US based BlackRock shows interest in Srilankan airlines: Minister
Sep 28, 2016 (LBO) – Two global investment managers, US based BlackRock and TPG Capital, have shown interest in crisis-hit SriLankan Airlines which is looking for a partner, a minister said. “BlackRock and TPG Capital, two global investment management firms are among the interested parties in addition to some Chinese airlines,” Malik Samarawickrama, minister of […]
Sri Lanka apparel exports caters more to niche markets: Report
Sri Lanka’s exports are designated to more niche and fashion-oriented markets rather than concentrating on volume products, a latest report showed. The Business Information Division of the Ceylon Chamber of Commerce has released its latest review conducted on the apparel industry. The release titled ‘Apparel Sector 2015,’ can now be obtained in CD Version. According […]
Indian Minister says “not bitter” over Sampur, will look at LNG option
Sep 28, 2016 (LBO) – India has had “no bitter experience” and will not be pulled back by the halting of the Sampur coal power plant and will engage with Sri Lanka in a way both countries benefit out from it, a visiting Indian minister said. “These are national priorities and international commitments, both of […]
ADB lowers Sri Lanka growth in 2016 to 5-pct from 5.3-pct
Sep 28, 2016 (LBO) – The Asian Development Bank (ADB) has lowered the economic growth forecast for Sri Lanka to 5.0 percent for 2016 from 5.3 percent saying growth prospects for Sri Lanka edge lower on weak industrial performance and fiscal consolidation. “ADB lowered the GDP growth rate to 5.0 percent for Sri Lanka in […]
‘s gains, oil prices slide
TOKYO, Sept 28 (Reuters) – Asian stocks edged up early on Wednesday following an overnight rise for U.S. stocks, while reduced hopes that a meeting of major producers would reduce a oversupply weighed heavily on crude oil prices. MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.1 percent. Australian stocks were up 0.5 percent […]
Sri Lanka Central Bank holds key interest rates unchanged
Sept 28, 2016 (LBO) – Sri Lanka’s Monetary Board held key interest rates unchanged with slow second quarter growth in the economy, despite credit growth to the private sector continuing to remain high. The economy grew provisional 2.6 per cent, year-on-year, during the second quarter of 2016 compared to the growth of 7.0 per cent […]
Cinnamon Life launch second residential tower ‘The Suites at Cinnamon Life’
(PRESS RELEASE) – Sri Lanka’s most iconic mixed development project, Cinnamon Life, announced the launch of ‘The Suites at Cinnamon Life’, the second residential tower to be constructed as part of a 4.5 million square foot integrated resort by Waterfront Properties (Private) Limited, a member of the John Keells Group. At the time of launch, […]
PTL Watch: Bond yields drop on local investor buying
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Sri Lanka’s Citrus Leisure proposes to restructure group
Sep 27, 2016 (LBO) – Sri Lanka’s Citrus Leisure has proposed restructuring its group subject to the relevant regulatory approvals, the company said in a stock exchange filing. The board has decided to dispose company shares in Waskaduwa Beach Resort (CITW) in exchange for Hikkaduwa Beach Resort (CITH) shares. It will be carried out after […]
Sri Lanka attracts major container ship MSC Maya to Colombo
Sep 27, 2016 (LBO) – Sri Lanka’s Colombo International Container Terminal (CICT) attracted one of the largest container ships in the world ‘MSC Maya’ with a capacity of 19,224 TEUS to the Colombo Port recently. Switzerland-owned Mediterranean Shipping Company’s MSC Maya made Colombo’s maiden call on 16th September 2016, replacing a smaller vessel owned by […]
Emergency ambulance service to launch in Colombo district tomorrow
1990 “SuwaSariya” emergency ambulance service is scheduled to be launched tomorrow in Colombo district, the government said. The service is now available in the districts of Hambantota, Matara, Galle, Kalutara and Gampaha. 1990 ambulances were introduced by the government with an Indian grant to fill a vacuum in pre hospital care.
Sri Lankan rupee weaker on importer dollar demand
Sept 27, 2016 (Reuters) – The Sri Lankan rupee traded weaker on Tuesday as seasonal demand for dollar from importers exceeded sales by exporters and banks, dealers said. The spot rupee traded at 146.45/55 per dollar, compared with Monday’s close of 146.35/45. The spot-next forwards were at 146.56/60 per dollar, edging down from Monday’s close of […]