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CSE wins Gold award at National HR Conference 2016
The Colombo Stock Exchange (CSE) was presented with a National HR Excellence Gold Award at the recently held National HR Conference for 2016. Organized by the Institute of Personnel Management (IPM), the conference is tagged as South Asia’s largest HR event. The award was presented in recognition of the CSE’s exceptional HRM practices and the […]
India in USD27 bln quest for oil as projects restart
June 28, 2016 (LBO) – India is offering global oilfield service providers a 27 billion dollar lifeline as the government aims to cut fuel imports. Stalled projects are restarting after the government in March announced pricing freedom for natural gas from deepsea fields that begin production this year, Bloomberg reports. With a halving of cost […]
‘s Amana Takaful Life announces IPO of Rs75Mn
June 28, 2016 (LBO) – Amana Takaful Life Limited (ATLL), a fully-owned subsidiary of Amana Takaful PLC, has announced an Initial Public Offering (IPO), via an offer for sale of 75 million rupees. ATLL becomes the first segregated life insurer in Sri Lanka to do so following the mandatory segregation of Life and General insurance […]
Commercial Bank launches Sri Lanka’s first Remittance Card
Sri Lanka’s first Remittance Card has been launched by the Commercial Bank of Ceylon to introduce a new dimension in convenience to the process of transferring funds from overseas to local beneficiaries. A branded Debit cum ATM Card licensed by Visa Inc. and issued locally by Commercial Bank to recipients of remittances, the new Remittance […]
Brexit vote, UK political confusion keep world and asian markets on edge
June 28 (Reuters) – Britain’s vote to leave the European Union continued to reverberate through financial markets, with the pound falling to its lowest level in 31 years, despite government attempts to relieve some of the confusion about the political and economic outlook. UK finance minister George Osborne said early Monday that the British […]
Gap between male, female life expectancy narrows in Sri Lanka
June 27, 2016 (LBO) – The difference between female and male life expectancy at birth reduced in 2012 to 6.6 years compared with 8.4 years in 2001, latest data from the statistics office showed. For the years 2011 to 2013, life expectancy is 72.0 years for males and 78.6 for females, while the life expectancies […]
SriLankan Airlines to suspend Paris, Frankfurt flights in restructuring
June 27, 2016 (LBO) – The national carrier SriLankan Airlines on Monday said it will be suspending its operations to Paris and Frankfurt from winter 2016 as part of its restructuring plan. Accordingly, the last flights between Frankfurt and Colombo on UL 553/554 will be operated on October 30, while UL 563/564 of November 6, […]
US trains Lankans on counterproliferation of weapons of mass destruction
The U.S. Government recently concluded a five-day workshop in Colombo from June 13-17 for members of the Sri Lankan Ports Authority and Customs, Police, Navy, and Coast Guard to provide training on eliminating the proliferation of weapons of mass destruction (WMD). Led by U.S. military experts from the International Counterproliferation Program (ICP), the workshop covered […]
PTL Watch: Bond yields fall, local investor interest
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Abans Finance to raise Rs277mn through private placement
June 27, 2016 (LBO) – The directors of Abans Finance has decided to raise 277 million rupees for the company by way of a private placement of ordinary voting shares. Subject to necessary approvals, the proposed investor, Ironwood Investment Holding (Pvt.) Ltd will purchase 11,067,978 fully paid ordinary voting shares of the company at a […]
Sri Lanka may approve two blocks for exploration and drilling: PRDS
June 27, 2016 (LBO) – Sri Lanka could shortly approve petroleum exploration and drilling for two blocks in the Cauvery basin, as bidders in the 2013 licensing round have recommitted to their bids, a government official said. “The government has already gone through the approval process for these bids, and bidders have recommitted to their […]