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‘t favor risk assets: Gross
Jun 13, 2016 (LBO) – Bill Gross, who runs the 1.4 billion dollar Janus Global Unconstrained Bond Fund, says the possibility of Brexit is another element that does not favor risk assets. “Risk assets are dependent upon growth, they’re dependent upon — even in the high-yield market — on relative stability and to the extent […]
Asian shares and sterling skid, yen firms
June 13 (Reuters) – Asian shares and sterling skidded in early Asian trade on Monday and the perceived safe-haven yen rose, as investors fretted ahead of this week’s central bank meetings as well as Britain’s June 23 referendum on whether to remain in the European Union. Also adding to the grim U.S. mood, an man […]
360 videos set to transform filmmaking, social media and news
June 11, 2016 (LBO) – 360 degree videos, also known as immersive videos, are expected to revolutionize filmmaking, social media videos and news reporting, with Facebook this week allowing 360 photos to be uploaded by users. The technology is fast growing in popularity with several affordable cameras available on the market. The video from BBC […]
Sri Lanka seeks new agreement for Colombo Port City
June 10, 2016 (LBO) – Sri Lanka’s Prime Minister has appointed a committee to look into the possibility of formulating a new agreement for the Colombo Port City project. Deputy Minister of Megapolis and Western Development Lasantha Alagiyawanna told Parliament Friday that the 5-member committee comprising of secretaries is headed by the secretary to the […]
Sri Lanka needs comprehensive system of trade agreements: Malik
June 10, 2016 (LBO) – Sri Lanka now needs a comprehensive system of trade agreements as 50 percent of global trade is in fact dependent on trade agreements, the international trade minister said. Currently, Sri Lanka has trade agreements with India and Pakistan and in the future it is proposed to have an agreement with […]
Sri Lankan rupee up as exporters, foreign investors convert dollars
June 10 (Reuters) – Sri Lankan rupee forwards edged up on Friday as dollar conversions by foreign investors and exporters surpassed importer demand for the U.S. currency, dealers said. The spot rupee, which was traded actively for a third straight day, also rose, dealers said. Dollar/rupee forwards, known as spot next, were at 145.02/12 per […]
Huawei to reveal duo entry-range smartphones in Sri Lanka
According to a reliable source within the company, Huawei is set to launch two new-entry range smartphone in Sri Lanka. The devices are believed to be targeted at the highly competitive entry-range smartphone market in the country. According to company sources the devices would be under the much successful Huawei Y-series smartphones and will be […]
Opinion: Sri Lanka’s Efficiency Enhancers Lagging
By Arosha Jayasundera It is revealing to see how Sri Lanka fares in the global business sector. According to the World Competitiveness Index, Sri Lanka ranks halfway — 73rd overall out of 144 countries, and we have moved down in ranking since 2011. There are 12 pillars which contribute to this ranking, and the ‘efficiency […]
PTL Watch: Volatility returns, some foreign buying
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Sri Lanka’s MICE tourism capacity could do better: Minister
Jun 10, 2016 (LBO) – Sri Lanka should look at increasing its potential as a venue for holding Meetings, Incentive travel, Conferences and Events (MICE) tourism, a minister said. “This is something we need to work on as our MICE tourism capacity is lagging behind,” John Amaratunge, minister of Tourism Development and Christian Religious Affairs, said. […]
Criticizing Ravi on VAT is baseless – Rishad
Sri Lanka’s Minister of Industry and Commerce Rishad Bathiudeen came on strong to defend his embattled Cabinet colleague, Finance Minister Ravi Karunanayake. “Many times Minister Karunanayake is criticized more than the government regarding VAT. I would like to ask this August House on what logical basis that Hon Minister Karunanayake could be criticized?” asked Minister […]
South Korea cuts base rates by 25bps first time in 12 months
June 10, 2016 (LBO) – South Korea’s central bank yesterday decided to cut the base rate by 25 basis points to 1.25 percent amid risks to growth from domestic and international markets. Releasing a statement, the Monetary Policy Board said it will ensure the recovery of economic growth continues and consumer price inflation approaches the […]