Category:
Sri Lanka lube market grows 6.8-pct in 2015: report
Sep 29, 2016 (LBO) – Sri Lanka’s lubricant market has grown by 6.8 percent to 23.4 billion rupees in 2015, with 10.1 percent growth in automotive and 7.7 percent increase in industrial lube, the lubricant market report 2015 showed. The report compiled by its regulator Public Utilities Commission, however, said the marine lubricant market has […]
Sri Lankan rupee edge down ahead of bond auction
Sept 29, 2016 (Reuters) – The Sri Lankan rupee edged down on Thursday ahead of a bond auction as investors bought the local currency to buy bonds, and as importer demand for dollars exceeded greenback sales by exporters, dealers said. The spot rupee was trading at 146.75/85 per dollar, compared with Wednesday’s close of 146.62/70. […]
New HC Chitranganee Wagiswara presents credentials to Indian President
High Commissioner of Sri Lanka to India Chitranganee Wagiswara presented credentials to the President of India Pranab Mukherjee at Rashtrapathi Bhawan in New Delhi on Monday 26 September 2016. Meeting the President of India after presenting the Credentials, Mrs. Wagiswara conveyed the greetings of the President and the Prime Minister of Sri Lanka to the […]
One in four Sri Lankan households own a computer: survey
Sep 29, 2016 (LBO) – At least one computer is available in 24 percent of households in Sri Lanka, in urban as well as rural areas, the Department of Census and Statistics said in its Computer Literacy report for 2015. “That is about one out of every four households owns either a desktop or a […]
Blackberry ends manufacture of iconic smartphone
Sept 29, 2016 (LBO) – BlackBerry says it will no longer manufacture the iconic smartphone and will instead outsource the function to partners. BlackBerry CEO John Chen said the company will prioritize software development, including apps and security. “We are reaching an inflection point with our strategy,” Chen said. “Our financial foundation is strong, and […]
Asia stocks gains as crude oil surges after OPEC deal
TOKYO, Sept 29 (Reuters) – Asian stocks gained on Thursday in tandem with an oil price rally after OPEC members agreed to curb output – boosting investor risk appetite. MSCI’s broadest index of Asia-Pacific shares outside Japan was up 0.6 percent. Commodity-heavy Australian shares advanced 0.6 percent and South Korea’s Kospi gained 0.7 percent. Japan’s […]
Sri Lanka’s Fitch places Distilleries on rating watch negative
Sept 28, 2016 (LBO) – Sri Lanka’s Fitch Ratings has placed Distilleries Company’s national long-term rating of ‘AAA(lka)’ on rating watch negative following its restructuring of the group. Full text of the rating action is reproduced below. Fitch Places Distilleries Company of Sri Lanka on Rating Watch Negative Fitch Ratings has placed Distilleries Company of […]
CB Governor says 2Q growth should be higher than 2.6-pct
Sept 28, 2016 (LBO) – Sri Lanka’s second quarter economic growth for this year should be higher than the published 2.6 percent, Central Bank Governor said. Governor Indrajit Coomaraswamy told reporters in Colombo that he would expect it to be higher than the current figure, once it gets revised. “If you look at proxies for […]
Opinion: Suggestions from a small business for the budget
By Ranjit Hulugalle I run a printing business which employs nearly 100 people in Biyagama, outside of the BOI — Board of Investment zones for export. It is not in the zone and does not get any privileges, tax concessions and other benefits that companies receive at the zone. Our main inputs are imported papers, […]
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 […]