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‘s Financial Intel Unit signs MOU with Singapore authority
Sept 22, 2016 (LBO) – The Financial Intelligence Unit of the Central Bank of Sri Lanka (FIU) has entered into a memorandum of understanding with the Suspicious Transaction Reporting Office of Singapore (STRO) to facilitate exchange of information on money laundering and terrorist financing. The MOU has been entered into “within the framework of each […]
Opinion: Sampur Coal Power Plant, how did it get environmental clearance?
By Vidhura Ralapanawa The Trincomalee Coal Power Plant (TCPP), a joint venture between Ceylon Electricity Board (CEB) and Indian coal power giant NTPC, was planning to build a 500MW subcritical coal power plant in Sampur, in the Eastern coast of Sri Lanka. The Environmental Impact Assessment (EIA) of the project is replete with errors of […]
Infrastructure: Port city to transform Colombo, boost facilities
Sep 22, 2016 (LBO) – Sri Lanka’s planned Port City project says its vision is to offer a modern and sustainable lifestyle without comprising services delivered to attract high net-worth individuals in the region. Several hectares of public parks will increase facilities available to the public and the amount of commercial office space in Colombo […]
Asian shares surge, dollar lags on slow-motion Fed
SINGAPORE/SYDNEY, Sept 22 (Reuters) – Asian shares surged on Thursday, taking their cue from Wall Street, after the Federal Reserve left U.S. interest rates unchanged and slowed the pace of future hikes, slugging the dollar and lifting commodity prices. MSCI’s broadest index of Asia-Pacific shares outside Japan advanced 0.9 percent in its sixth straight session […]
Kumar Sangakkara Kicks OffMurali Harmony Cup 2016
(PRESS RELEASE) – The Murali Harmony Cup 2016 was declared open today (20th September 2016) in Kilinochchi. 24 teams will compete in this year’s blockbuster tournament featuring as many as ten newcomers to have a chance at winning the coveted Champions trophy and bragging rights in the men’s and women’s segments respectively. Speaking at the […]
Sri Lanka nationwide inflation declines to 4.5-pct in Aug 2016
Sept 21, 2016 (LBO) – Sri Lanka’s consumer prices as measured by National Consumer Price Index declined to 4.5 percent in August from the 5.8 percent reported a month earlier on an yearly basis, data from the state statistics office showed. In August 2016, the contribution to the inflation from food group and non-food group […]
Yacht operator says Merchant Shipping blocks business
Sept 21, 2016 (LBO) – Sri Lankan Aggressor, a yacht named after the island, has been blocked by the Secretariat of Merchant Shipping from registering pending IACS classification. Releasing a statement, Yacht operator TVB Group said they delayed the launch of their new ‘Aggressor’ branded Super Luxury Liveaboard Yacht in Sri Lanka due to this […]
Textured Jersey changes its name to Teejay Lanka
Sept 21, 2016 (LBO) – Sri Lanka’s Textured Jersey, a leading knitted fabric company, has officially changed its name to Teejay Lanka with effect from 15th September 2016. The company said in a stock exchange filing that the name change had the shareholder approval through a special resolution at the Annual General Meeting.
Sri Lankan rupee down on importer dollar demand; forwards active
Sept 21, 2016 (Reuters) – The Sri Lankan rupee fell on Wednesday on importer dollar demand, while currency forwards were actively traded in the absence of the spot rupee trading, dealers said, a day after the central bank’s moral suasion capped the rupee’s fall. Traders were unwilling to trade the spot rupee below 146.00 , […]
PTL Watch: Bond yields continue upward momentum
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New markets needed to offset Sri Lanka Tea downturn: OBG
Sept 21, 2016 (LBO) – Adverse weather conditions, combined with rising costs and greater competition, threaten to weaken Sri Lanka’s position in the global tea industry, though efforts to develop new markets could help offset downturns in exports and revenue, the Oxford Business Group said in a note on the economy. Flooding in mid-May struck […]