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Kotagala Plantations to subdivide shares after Rs800mn rights issue
Sept 13, 2016 (LBO) – Sri Lanka’s Kotagala Plantations is to raise 800 million rupees by way of a rights issue, subjected to exchange approval, the company said in a stock exchange filing. The company is to issue and list 80 million new ordinary shares at 10 rupees each in the ratio of two new […]
‘s unemployment 4.2-pct in first quarter 2016
Sep 13, 2016 (LBO) – Sri Lanka’s unemployed is estimated as 349,686 during the first quarter 2016 and the unemployment rate was 4.2 percent, marginally down from the average 4.6 percent in 2015. According to the latest data the estimated economically active population is about 8.3 million in the first quarter, of which 63.3 percent […]
Sri Lankan exporters showcase at 13th China Asean Expo
Sep 13, 2016 (LBO) – Twenty five Sri Lankan exporters have represented the island at the 13 CAEXPO (China-ASEAN Expo) in Guangxi, China, as a special guest country. “We believe that Sri Lanka can showcase its products to China in a big way at 13th CAEXPO-more importantly it is an opening to ASEAN importers,” Rishad […]
Japan provides school meals in Northern Sri Lanka through WFP
Sept 13, 2016 (LBO) – The Government of Japan will provide 230 million Japanese Yen (330 million rupees) as food grant assistance to Sri Lanka for school meals in the Northern Province through World Food Programm’s Food Assistance Program. From 2012 to 2015, the Government of Japan has provided food grant assistance amounting to 740 […]
‘s dovish comments
TOKYO, Sept 13 (Reuters) – Asian stocks rose early on Tuesday, boosted as Wall Street rallied overnight after Federal Reserve Board Governor Lael Brainard brought relief to risk asset markets by reducing prospects of a near-term interest rate hike. The dollar, on the other hand, nursed losses against its peers after Brainard reiterated her dovish […]
SriLankan Airlines urges Pilots Guild to respect due process
With regard to a news items reported in the Sunday newspapers SriLankan Airlines wishes to state the following: SriLankan Airlines refutes the comments by the individual who is quoted in the newspaper article. The Airline wishes to clarify that the issue in question is one of the refusal to follow the Company Procedure which is […]
Sri Lanka foreign reserves up USD125mn in August: Central Bank
Sept 12, 2016 (LBO) – Sri Lanka’s official reserves rose 124.7 million US dollars to 6.6 billion dollars in August, up from 6.5 billion dollars end of July, official Central Bank data showed. Foreign currency reserves were 5.6 billion US dollars, and reserves in Gold were 0.94 billion US dollars. Central Bank has purchased 190.8 […]
ZMAX Fairway Colombo opens for short stay travelers from this week
Nestled in the heart of Colombo Fort, the brand new ZMAX Fairway Colombo hotel lies between the old world charm of the Fort’s colonial past and the vibrant modern business and entertainment hub that surrounds it. Located close to that icon of colonial architecture turned uber-cool hang out, the Dutch Hospital, the ZMAX Fairway Colombo […]
CCC proposes amendments to Sri Lanka’s customs ordinance
Sep 12, 2016 (LBO) – The Ceylon Chamber of Chamber has made several proposals for the amendment of Sri Lanka’s Customs Ordinance. The Import Section of the CCC organized a seminar to discuss the proposed new customs law and the change in the current customs ordinance focusing on areas such as how the new law […]
Nine companies onboard as CA Sri Lanka practical training partners
Nine leading companies came onboard recently as Training Partners of the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) representing diverse sectors and boosting the training partner portfolio of the institute which currently comprises of over 700 organisations from the public and private sectors. Stafford Motor Co (Pvt) Ltd., Lankem Ceylon PLC, Maga […]
Hanjin shipping bankruptcy to have indirect impact on Sri Lanka
Sept 10, 2016 (LBO) – The filing for bankruptcy by South Korean container shipper Hanjin Shipping will have an indirect impact on Sri Lanka with reduced space for cargo originating from the island, an industry official said. Hanjin, ranked the seventh largest globally, with 98 ships and 2.9 percent share of trade, has about 14 […]
SriLankan flights disrupted due to pilot work to rule
Sep 10, 2016 (LBO) – SriLankan Airlines said flights could get disrupted following a ‘work-to-rule’ campaign by its pilots union, protesting against the suspension of a pilot who refused a breathalyzer test. “There is a likelihood that flights will be disrupted, as we are currently calling pilots on their off days legally to support the […]