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Asian stocks hold near 14-month peak on Fed relief
TOKYO, Sept 23 (Reuters) – Asian shares edged closer to 14-month highs on Friday while the dollar was on the defensive as investors grew more convinced that the Federal Reserve is settling into a phase of very gradual interest rate hikes. MSCI’s broadest index of Asia-Pacific shares outside Japan was steady and within sight of […]
‘s Lagarde announces specific actions on women’s economic empowerment
Christine Lagarde, Managing Director of the International Monetary Fund, issued the following statement today at the conclusion of her participation in a United Nations High-Level Panel on “Women Economic Empowerment” on the sidelines of the UN General Assembly: “It is a great pleasure to participate in the official launch of the commitments and work of […]
Sri Lanka’s CIFL awaits response from German investor for bailout
Sept 23, 2016 (LBO) – Sri Lanka’s troubled Central Investment and Finance Company says they are awaiting a response from a prospective German investor indicating their future plan of action to revive CIFL. In a stock exchange filing, the company said they submitted all clarifications to the investor delegation who visited the island recently. A […]
‘s solar energy drive
COLOMBO (Thomson Reuters Foundation) – An ambitious plan by the Sri Lankan government to outfit 100,000 homes with solar panels, to turn them into power producers for the national grid, may be too expensive for many families to afford, experts warn. Sri Lanka’s government this month launched a “battle for solar energy” that aims to […]
Germany to get first zero-emission hydrogen-powered train
Sept 22, 2016 (LBO) – The world’s first CO2-emission-free train powered by hydrogen has been unveiled at the Berlin InnoTrans trade show and is due to start operations late next year. Dubbed hydrail, the train developed by French company Alstom was presented to the public on Tuesday. “Coradia iLint is a new CO2-emission-free regional train […]
Sri Lankan rupee edges up on bank dlr sales; stocks up
COLOMBO, Sept 22 (Reuters) – The Sri Lankan rupee edged up on Thursday as dollar sales by a foreign bank helped currency forwards outpace importer dollar demand, but the market expects the rupee to be under downward pressure due to a rise in demand for imports, dealers said. Rupee forwards were actively traded and one-week […]
IFAC appoints Arjuna Herath of CA Sri Lanka as Chair of PAO Development
Following a rigorous nominations process, the International Federation of Accountants (IFAC) today announced the appointments of three outstanding members of the global accountancy profession to lead important committees supporting the profession across the world: Monica Foerster as Chair of the Small and Medium Practices (SMP) Committee; Arjuna Herath as Chair of the Professional Accountancy Organization […]
Supreme Court says NBT amendment consistent with constitution
Sept 22, 2016 (LBO) – Sri Lanka’s Speaker of Parliament informing the Supreme Court determination today said the Nation Building Tax amendment bill is not inconsistent with the constitution. A public interest litigant activist filed a petition in the Supreme Court challenging the Nation Building Tax bill charging that it imposes retrospective tax liability. The […]
I am determined to alleviate poverty: President Sirisena at UNGA
Sept 22, 2016 (LBO) – Sri Lanka’s President Maithripala Sirisena says he established the rule of law and restored democratic rights of the country by ending fear. Addressing the 71st session of the United Nations General Assembly he said the world today is full of hate, violence and fear. “Before I came to power, people […]
President meets Obama, John Kerry and Ban Ki-moon at UNGA
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Korean Film Festival 2016 in Colombo, Sri Lanka
Following on the success of last year’s event, the Embassy of the Republic of Korea in Sri Lanka and the Korea Foundation will co-host the Korean Film Festival 2016 from October 14 to October 17 at the National Film Corporation (NFC) Theatre, Colombo 7, in partnership with the National Film Corporation of Sri Lanka. The […]
‘s rating at BB+(lka)
Fitch Ratings Lanka has today affirmed Alliance Finance Company PLC’s (AFC) National Long-Term Rating at ‘BB+(lka)’ with a Stable Outlook. At the same time Fitch affirmed AFC’s outstanding senior unsecured debentures at ‘BB+(lka)’ and outstanding subordinated debentures at ‘BB(lka)’. KEY RATING DRIVERS NATIONAL RATING AND SENIOR DEBT AFC’s rating reflects its established but modest franchise […]