Category:
Sri Lanka’s Hayleys acquires Maldivian resort for USD23mn
July 18, 2016 (LBO) – Sri Lanka’s Hayleys PLC has acquired a Maldivian resort named Kudarah Island Resort through their subsidiary Luxury Resort private limited for 23 million US dollars. Hayleys said in a statement that Kudarah Island Resort located in South Ari Atoll consists of 51 luxury villas, which is adjacent to the popular […]
Singapore leaders pledges support for Sri Lanka
Singapore President Tony Tan Keng Yam and Prime Minister Lee Hsien Loong have pledged to support Sri Lanka when they met Prime Minister Ranil Wickremesinghe today.
Sri Lanka’s Port City to apply its own economic, commercial laws: PM
July 18, 2016 (LBO) – The proposed Financial City better known as the Port City will function as a special jurisdiction area with its own economic and commercial laws to facilitate operations of global multinational corporations, Prime Minister said. Delivering the keynote address at the third South Asian Diaspora Convention, Prime Minister Ranil Wickremesinghe said […]
LBR LBO Infrastructure Summit 2016 – “Realizing The Transformative Power of The Western Region Development: Opportunities and Challenges”
Topic: Realizing The Transformative Power of The Western Region Development: Opportunities and Challenges Date/Time/Venue: 6.00 PM Tuesday, 20th September 2016, Liberty Ballroom, Ramada 8.30 – 5.30 Wednesday, 21st September 2016 – OAK Room, Cinnamon Grand Host: Lakshaman Bandaranayake | Founding Publisher, Director | Lanka Business Online Inquiries: Lakshaman Bandaranayake | lakshaman@lbo.lk | 071 176 0167 […]
Sri Lanka starts drafting framework for Independent Media Commission
July 18, 2016 (LBO) – Sri Lanka’s government has convinced media institutions of the need for establishing an Independent Media Commission in the country. As per the Information Department, a five-member committee has been appointed to prepare the draft. Wijayananda Jayaweera who was a former communication director at UNESCO has been appointed as its chairman. […]
Bank of England expects to ease policy rates in August
July 18, 2016 (LBO) – The Bank of England has kept its policy rates unchanged while expecting to ease its monetary policy stance next month after receiving official data on Brexit. At its meeting ending last week, the Monetary Policy Committee has voted by a majority of 8-1 to maintain bank rate at 0.5 percent, […]
Asian growth steady despite weak global prospects, Brexit: ADB
July 18, 2016 (LBO) – Growth in Asia and the Pacific’s developing economies for 2016 and 2017 will remain solid as firm performances from South Asia, East Asia and Southeast Asia help offset softness from the US economy, and near-term market shocks from the Brexit vote, says a new Asian Development Bank report. In a supplement […]
Lotus Renewable to make mandatory offer for Browns Hydro Power
July 18, 2016 (LBO) – Lotus Renewable Energy (Private) Limited says it will make a mandatory offer to buy shares of Browns Hydro Power PLC after purchasing 72.13 percent shares in the company. The company purchased 73,690,212 shares at seven rupees per share on July 13, leading up to the trading floor announcement under Rule […]
Turkey cracks down after failed coup, 6,000 arrested
July 18, 2016 (LBO) – Turkey cracked down on suspected supporters of a failed military coup on Sunday, taking the number of people rounded up in the armed forces and judiciary to 6,000. President Tayyip Erdogan and the government accused former ally Muslim cleric Fethullah Gulen who is based in the U.S., of orchestrating the […]
‘ Index shows manufacturing upswing in June
July 18, 2016 (LBO) – Sri Lanka’s manufacturing sector showed an upswing in June, after a slowdown in the previous two months, based on the Purchasing Managers’ Index (PMI) released by the Central Bank. “The Manufacturing PMI recovered to the positive territory in June 2016 registering 55.1 index points, from the contraction observed in the […]
PTL Watch: Yields up on profit taking, net foreign buying
[pdf-embedder url=”http://lbo-stg.efserver.net/wp-content/uploads/2016/07/PTL-Daily-Market-Report-15th-July-2016.pdf”]
LOLC client Browns Power buys 60.3 pct stake in Agalawatte
July 15, 2016 (LBO) – LOLC Securities, under rule 36 of the Company Takeovers and Mergers Code, has informed the Colombo Stock Exchange that their client Browns Power Holdings (Private) Limited has purchased 60.3 percent of Agalawatte Plantations PLC. Browns Power Holdings purchased 15,200,000 Voting ordinary shares of Agalawatte Plantations PLC (AGAL.N.0000) on 14th July […]