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Browns Beach Hotels to raise Rs1.4bn through rights issue
Aug 23, 2016 (LBO) – Sri Lanka’s Browns Beach Hotels is to raise 1.4 billion rupees by way of a rights issue subject to necessary approvals, the company said in a stock exchange filing. The company is to issue 54 million new ordinary shares at 25.85 rupees each in the ratio of 5 new shares […]
Asian Regulatory Reforms to Increase Appetite for Reinsurance: Fitch
Fitch Ratings-Singapore/Hong Kong-22 August 2016: Fitch Ratings believes that various regulatory initiatives in the region could lead indirectly to greater demand for reinsurance, as direct insurers rethink risk-management strategies and appetite. Asian regulators have implemented – or are in the process of implementing – a range of measures that would alter the operating and business […]
Suspension of melodious SriLankan pilot, too little too late
Aug 22, 2016 (LBO) – SriLankan Airlines, which usually gets in the spotlight for allegations of cronyism, has done a turnaround by suspending a pilot who failed a breathalyzer test. This may be a case of too little too late for the debt-laden airline. Sri Lankan flight UL 554 out of Frankfurt Germany on the […]
Asia stocks edge up, dollar dips as markets await Fed clues
SYDNEY, Aug 23 (Reuters) – Asia shares inched ahead while the dollar slipped on Tuesday as a dearth of major data left markets with little to do but second guess whether the Federal Reserve will raise U.S. interest rates this year. MSCI’s broadest index of Asia-Pacific shares outside Japan edged up 0.2 percent, with South […]
Sri Lanka nation wide inflation declines to 5.8-pct in July 2016
Aug 22, 2016 (LBO) – Sri Lanka’s consumer prices as measured by National Consumer Price Index declined to 5.8 percent in July from the 6.4 percent inflation reported a month earlier on yearly basis, data from the state statistics office showed. In July, contribution to the inflation from food group and non-food group are 3.0 […]
President strengthens SLFP to face possible separation
Aug 22, 2016 (LBO) – Sri Lanka’s President Maithripala Sirisena today appointed a new district leader and a new organizer for Sri Lanka Freedom Party to face a possible division of the party. President’s Media Division said State Minister of Finance Lakshman Yapa Abeywardana has been appointed to the post of leader for the SLFP […]
Ceylon Chamber launches TIPS for trade policies
Aug 22, 2016 (LBO) – The Ceylon Chamber of Commerce said it has launched “Trade Intelligence for the Private Sector” (TIPS), a platform to raise awareness on engagement with trade policy. “We recognized that Chamber members and the wider business community are interested in, and concerned about, the implications of trade liberalization and trade agreements […]
VirtusaPolaris Receives Stevie Award for Investor Relations and Technical Innovation
(PRESS RELEASE) – WESTBOROUGH, Mass.,– VirtusaPolaris, the market-facing brand of Virtusa Corporation and Polaris Consulting & Services, Ltd., and a leading worldwide provider of information technology (IT) consulting and outsourcing services, announcedthat it has been awarded two Stevie Award recognitions; a Gold award for Investor Relations and a Silver award for Most Innovative Technology Company […]
Sri Lankan rupee steady; importer dollar demand offsets exporter sales
COLOMBO, Aug 22 (Reuters) – The Sri Lankan rupee was steady for a sixth straight session on Monday as dollar sales by foreigners who bought government securities were offset by demand for the U.S. currency from importers, dealers said. The spot rupee was at 145.50/55 per dollar at 0648 GMT, unchanged from Friday’s close. “It […]
Sri Lanka grade A office space demand exceeds supply – JLL
Aug 22, 2016 (LBO) – Sri Lanka’s capital office market has occupancy as high as 95 percent and occupiers and supply of Grade A office space remains minimal, the latest Jones Lang LaSalle Sri Lanka report says. “Demand for Grade A space in 2016 will be around 3.8 million sq ft, and with the current […]
World Bank to improve transparency with new procurement system in Sri Lanka
Aug 22, 2016 (LBO) – The World Bank in keeping pace with global trends has introduced a new procurement framework in South Asia including Sri Lanka to improve development impact and transparency. The new system helps its partner countries that procure goods and services under Bank-financed projects make the best use of their public spending, […]
Ceylon Chamber to obtain biz inputs on Sri Lanka – China FTA
The Ceylon Chamber of Commerce will hold a ‘Discussion Session’ on the 26th of August, 2016 to gain inputs from the Lankan businesses on how to enhance business activities with China. The latest move of the Chamber comes in the wake of Sri Lanka and China is planning to strike a Free Trade Agreement between […]