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Sri Lankan rupee edges up on dollar sales by state bank
July 21, 2016 (Reuters) – The Sri Lankan rupee edged up on Thursday as dollar sales by a state bank outpaced the importer demand for the greenback, a day after a top central bank official said proceeds from a $1.5 billion sovereign bond issue, which dealers say would lift the local currency, have flowed in. […]
Malaysia Deputy PM to launch USD30mn lubricant plant in SL
July 21, 2016 (LBO) – Malaysia’s Deputy Premier Ahmed Zahid Hamidi is to visit Sri Lanka today to initiate the ground breaking ceremony of Hyrax Oil Sdn Bhd Lubricants’ proposed lubricant blending plant which will be setup in Muthurajawela. Hyrax Oil will invest 30 million US dollars to establish a four-million-litres-per-month lubricant blending plant in […]
Alok Sharma to take over Hugo Swire’s position as FCO Minister for Asia Pacific
Alok Sharma, MP for Reading West, has been appointed Under Secretary of State at the Foreign and Commonwealth Office with responsibility for Asia and the Pacific eventually taking over Minister Hugo Swire’s position in UK’s cabinet reshuffle. “I am honoured to have been appointed by the Prime Minister as Minister for Asia & the Pacific, hugely […]
CA Sri Lanka launches finance & accounting course for IT/BPO sector
The inaugural course of the groundbreaking qualification for the Finance and Accounting Outsourcing (FAO) sector launched by the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka), kicked off in July, with an aim to produce specialized professionals, who will give leadership to help Sri Lanka’s IT/BPO sector reach its ambitious goals of USD […]
BOC ranks among Top 1000 Banks in the World & No.1 in Sri Lanka
“The Banker” U.K Magazine revealed The Bank of Ceylon as the No. 1 Bank in Sri Lanka among the World’s Top 1000 Banks in its July 2016 issue. BOC has won many accolades and recognition in the recent past including the title as the “Strongest Bank” in the country given by the “Asian Banker” for […]
PM to use Singapore expertise for Beira Lake development
July 20, 2016 (LBO) – Sri Lanka’s Prime Minister Ranil Wickremesinghe says the country is looking forward to using Singapore’s expertise for the Beira Lake and development of the surrounding area. Wickremesinghe made these comments during an observation tour around Singapore riverside. The Prime Minister said Sri Lanka is ready to use Singapore riverside development as […]
‘s Hainan Airlines interested in managing SriLankan: report
July 20, 2016 (LBO) – China’s largest privately-owned air transport firm, Hainan Airlines Company Limited (HNA), is one of the companies interested in managing SriLankan Airlines, a media report said. EOIs were sought this month by National Savings Bank Fund Management Co Ltd as the lead manager for the reorientation of Sri Lanka Airlines Limited […]
MR says Missing Persons Office will betray armed forces
Sri Lanka ex-president Mahinda Rajapaksa says the proposed bill to set up an office of missing persons has been designed to persecute armed forces. Releasing a media statement, the former President said that this is one of several institutions to be established ‘to deal with the past’ in terms of the UNHRC resolution that the […]
SEC blocks sale of Agalawatte Plantation shares in directive
July 20, 2016 (LBO) – Sri Lanka’s Securities and Exchange Commission (SEC) in a directive to Claridge Stockbrokers says the sales proceeds of 304 million rupees for 15.2 million shares of Agalawatte Plantations must be withheld pending an investigation. Nirmalie Samaratunga and M. J. Varma had complained to the SEC that 60.8 percent of the […]
Sri Lankan rupee falls on importer dollar demand; stocks up
July 20, 2016 (Reuters) – The Sri Lankan rupee fell on Wednesday due to dollar demand from importers, even as a top central bank official said proceeds from a sovereign bond issue, which dealers say would lift the local currency, have flowed in. “Once the money comes in, it is obviously part of our reserves,” […]
Sri Lanka Economic Summit to discuss struggles to tap agribusiness potential
‘The Sri Lanka Economic Summit 2016’ organized by the Ceylon Chamber of Commerce has allocated the ‘Session 6’ of the two day event to discuss why the country’s agriculture sector despite the vast promise is still punching below its weight. The session, titled ‘Commercial Agriculture – Tackling the Competitiveness and Political Challenges,’ will accordingly focus […]
PTL Watch: Yields tick higher ahead of policy decision
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