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Embark opens 4 new stores and transforms 14,000+ doggy lives in 2015-16
Embark, Sri Lanka’s fashion brand and community animal welfare programme, has reported another busy year, ending 2015-16 – its ninth year – with medical care provided to 14,459 of the country’s homeless street dogs. Working with likeminded partner organisations and volunteers, Embark performed 3,464 sterilisation surgeries, 5,788 anti-rabies vaccinations, 644 treatments for injured animals and […]
‘s Royal Turf Club unveils plans for next racing season
June 23, 2016 (LBO) – Sri Lanka’s Royal Turf Club (RTC) has several plans to popularize horse racing and the next racing season in Nuwara Eliya, with a Hollywood star expected at the first charity race, officials said. The next Nuwara Eliya racing season will commence on August 6th, with horses racing every two weeks […]
Sri Lanka to support China over South China Sea issue with Philippines
June 23 (Reuters) – China’s Foreign Ministry on Thursday brushed off doubts about how many countries have offered support for its position in a case brought by the Philippines over Chinese claims in the South China Sea, saying the number of nations was growing daily. China has stepped up its rhetoric ahead of an expected […]
Korea mulls mega infrastructure projects in Sri Lanka
June 23, 2016 (LBO) – A South Korean delegation has visited Sri Lanka to discuss cooperative methods for large-scale infrastructure projects including the Western Province Megapolis and the construction of the Central Expressway. Vice Minister of Korea’s Ministry of Land, Infrastructure and Transport Kim Kyung Hwan, accompanied by government officials, visited Sri Lanka recently. A […]
Sri Lankan rupee 1-wk forwards edge up on dollar sales
June 23 (Reuters) – Sri Lankan rupee one-week forwards edged up on Thursday due to dollar selling by a state-run bank, while demand for the greenback from importers amid low liquidity weighed on the currency, dealers said. A decision by Moody’s to revise down the country’s sovereign rating outlook and lack of exporter conversions […]
HMAS Perth makes goodwill visit to Colombo
Royal Australian Navy Anzac class frigate, HMAS Perth, arrived in Colombo on Sunday 19 June 2016 for a five day goodwill visit. Whilst in Sri Lanka, sailors from Perth will practice boarding and anti-narcotic operations with the Sri Lanka Navy and undertake several professional, sporting, social and charity activities to build on the friendship and […]
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June 23, 2016 (LBO) – Moody’s Investors Service says that whether or not Sri Lanka’s (B1 negative) credit profile demonstrates a temporary or more enduring improvement from its International Monetary Fund’s (IMF) program will depend on how effectively the program’s ambitious reforms are implemented. Moody’s conclusions are outlined in its just released report: “Government of […]
Sri Lanka’s First VoLTE Service on Dialog’s LTE Networks
Dialog Axiata,Sri Lanka’s premier connectivity provider announced Wednesday 22nd June 2016, that the 4G-LTE Networks operated by the Dialog Group had been enabled with VoLTE (Voice over LTE) capability. The Dialog Group operates a Mobile 4G Network based on FD-LTE technology and a Fixed 4G Network based on TD-LTE. VoLTE is an acronym for Voice over LTE, which leverages […]
Fitch Downgrades NDB; Affirms 8 Sri Lanka Banks, Negative Outlook on DFCC, Sampath
Jun 23, 2016 (LBO) – Sri Lanka’s National Development Bank PLC’s (NDB) national long term rating has been downgraded to ‘A+(lka)’ from ‘AA(lka)’, Fitch rating said in a statement. The ratings on eight other Sri Lanka banks have been affirmed. The outlooks have been revised on DFCC Bank PLC’s (DFCC) and Sampath Bank PLC’s (Sampath) national longterm […]
Sri Lanka Cabinet cancels consultancy in defence HQ project
June 23, 2016 (LBO) – Sri Lanka’s cabinet has decided to cancel the consultancy given to a private firm for the construction of the defence headquarters complex at Akuregoda, Battaramulla. “The Committee appointed in the above purpose has observed that selection of consultancy firms and their payments have been done without providing true information to […]
Asia stocks, sterling rise as Brexit anxiety abates
June 23 (Reuters) – Asian shares edged up and sterling stood close to its peak for the year on Thursday, as investors were cautiously optimistic that British voters would opt to remain in the European Union at a referendum later in the session. Two opinion polls published late on Wednesday, a few hours before […]
POLL-Sri Lanka Central bank expected to keep policy rates steady
June 22 (Reuters) – Sri Lanka’s central bank is expected to keep its key interest rates steady for a fourth straight month on Friday, a Reuters poll showed, despite signs of rising inflation and stubbornly high private sector credit growth. The central bank has tightened monetary policy twice since December to fend off selling pressure […]