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US Pacific Command partners with Sri Lanka on oil spill management
Sept 21, 2016 (LBO) – Experts from the U.S. Pacific Command have provided training for disaster response counterparts from Sri Lanka and Maldives on responses to potential oil spills that could impact the local environment. Both civilian and military participants shared experiences from recent oil spill response efforts, with hands-on field exercises that included a […]
Jinasena launches solar solutions for domestic and industrial markets
(PRESS RELEASE) – High-tech solar solutions available via 19 Service Centres across the island Jinasena (Pvt) Limited, one of the leading water management systems and solutions providers in Sri Lanka, has expanded business operations in Sri Lanka by venturing into domestic and industrial solar solutions under its “Renewable Energy Sector” product range. Jinasena solar solutions […]
Sri Lanka committee to look in to Norochcholai environmental issues
Sep 21, 2016 (LBO) – Sri Lanka’s Public Utilities Commission (PUCSL) has appointed a 7 member committee to look at the environmental damage allegations that have been leveled against the Norochcholai power station. “We have received several complaints about this so we appointed a committee that is qualified to look into this matter,” Damitha Kumarasinghe, […]
Asia stocks pull ahead, investors on edge before BOJ verdict
HONG KONG, Sept 21 (Reuters) – Asian shares got off to a tentative start on Wednesday, while the yen was steady as investors braced for the outcome of the Bank of Japan’s policy meeting amid heightened speculation the central bank will make crucial changes to its massive easing programme. The BOJ is expected to make […]
No liberalization of professionals under upcoming FTAs: Kelegama
Sept 20, 2016 (LBO) – Sri Lanka’s bilateral free trade agreements that are currently being considered have no liberalization of professionals, a senior official confirmed. Sri Lanka is currently negotiating with India to deepen the existing Indo-Lanka FTA via Economic and Technology Cooperative Agreement (ETCA), and is talks with China and Singapore to sign bilateral […]
Sri Lankan rupee edges up on state bank dollar sales
Sept 20, 2016 (Reuters) – The Sri Lankan rupee gained slightly on Tuesday as a state bank sold dollars after the local currency fell due to importer greenback demand, with traders unwilling to trade the rupee below the level desired by the central bank, dealers said. The spot rupee was at 145.80/146.00 per dollar at 0638 […]
GAAM: Foreign inflow of Rs484 mln into stocks for week
The Guardian Acuity Asset Management weekly report can be downloaded here [pdf-embedder url=”http://www.lankabusinessonline.com/wp-content/uploads/2016/09/Weekly-Report-GAAM-17-09-16.pdf” title=”weekly-report-gaam-17-09-16″]
Fitch affirms Bimputh Finance at BB(lka); outlook stable
Fitch Ratings has affirmed Bimputh Finance PLC’s (Bimputh) National Long Term Rating at ‘BB(lka)’. The Outlook is Stable. KEY RATING DRIVERS Bimputh’s rating reflects its relatively small but evolving franchise and high risk appetite stemming from its predominant micro financing exposure. The rating also reflects pressure on the company’s capitalisation stemming from its above average loan growth and limited funding diversity […]
Commercial Bank launches new series of ‘Cash Deposit & Withdrawal’ machines
(PRESS RELEASE) – The Commercial Bank of Ceylon has launched a new generation of machines that offersseveral new advancements on the standard ATMs and deposit machines, including cash deposits that are credited instantly. Sri Lanka’s largest private bank said it will beinstalling ‘Cash Deposit & Withdrawal’ machinesin stages within its 251 strong branch network. Card-less […]
New Zealand pledges to develop milk production in Sri Lanka
Sep 20,2016 (LBO) – New Zealand says that it will extend its full assistance to develop the milk production sector in Sri Lanka, the finance ministry said in a statement. “New Zealand expects to provide Sri Lanka new technology, industry expertise and certain grants to enable the island to improve its milk production,” Grahame Morton, […]
Interview: Sri Lanka stock earnings +6 pct in June quarter, valuations improve
Sept 20, 2016 (LBO) – Sri Lankan listed companies posted earnings of 49.9 billion rupees in the quarter to June, up six percent from the same quarter last year, according to Acuity Stockbrokers. Together with a depressed market, this means valuations have improved. Lanka Business Online spoke to Chethana Ellepola, head of research at Acuity […]
Clearpoint Residencies structural work complete, ready for occupation 2017
Maga Engineering, announced that it has completed the building structure of its flagship residential project, the 48-storey Clearpoint Residencies, set to be the world’s tallest vertical garden upon completion. Clearpoint now stands at 185m and is presently the second tallest building structure in Sri Lanka, second only to Grand Hyatt Colombo which is also beingbuilt […]