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”s rating to negative from stable
June 20, 2016 (LBO) – Moody’s Investors Service has today affirmed the government of Sri Lanka’s foreign currency issuer and senior unsecured sovereign ratings at B1 and changed the outlook to negative from stable. Two key drivers underpin the change in outlook to negative from stable, Moody’s Investors Service said. 1) Our expectation of a further weakening in […]
Sri Lankan rupee 1-wk forwards weaker on importer dlr demand
June 20 (Reuters) – Sri Lankan rupee one-week forwards traded weaker on Monday due to importer dollar demand while dealers said the rupee was under pressure due to lack of exporter dollar conversions amid moral suasion by the central bank . One-week dollar/rupee forwards, which have been acting as a proxy for the spot rupee […]
Interview: PickMe has 4,000 vehicles on road, expands to Kandy
Jun 20, 2016 (LBO) – ‘PickMe,’ Sri Lanka’s own mobile taxi hailing solutions provider, says they have close to 4,000 vehicles on the road, with over 2,000 three wheelers, one thousand mini cars, and the rest categorized as sedan cars and vans. The startup, which successfully raised capital in three rounds of funding, has now […]
PTL Watch: Bond yields tick higher on low volumes
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The Queen to honour exceptional Sri Lankan with Queen’s Young Leaders Award
Her Majesty The Queen will present a Queen’s Young Leaders Award to an exceptional young person from Sri Lanka at a ceremony at Buckingham Palace, London on Thursday 23rd June. As the Commonwealth celebrates The Queen’s 90th birthday, this year’s Award winner, Nushelle De Silva is being recognised by The Queen for taking the lead […]
Sri Lanka’s HSBC fires five senior managers for figure-fudging
Jun 20, 2016 (LBO) – HSBC Sri Lanka sacked five senior managers following an investigation into allegations that they fudged incentives-linked performance figures, a media report said. “HSBC Sri Lanka has made important senior management changes following an internal investigation,” a spokesperson said, according to a Sunday Times report. Among the terminated employees were two […]
Huawei’s flagship P9 to enter Sri Lanka next week
Huawei, the fastest growing smartphone in Sri Lanka, announced that the company will unveil the much awaited flagship smartphone Huawei P9 end of June. Huawei’s partnership with German firm Leica has created a smartphone with a groundbreaking dual-lens camera that can shoot vivid color and crisp black-and-white to produce images with greater depth and clarity. […]
Opinion: Tax strategies to tackle shadow economy
By Rajul Awasthi Tax administrations in developing countries are increasingly concerned about the persistent problem of loss of tax revenues to the shadow economy, and they often deploy a range of strategies to plug tax leaks and augment revenues. The erosion of the tax base prevents governments from collecting the revenue it needs to provide essential […]
UN launches worldwide search for young leaders to achieve Sustainable Development Goals
The United Nations today launched a new initiative to recognize exceptional young people who are leaders in the effort to end poverty, combat climate change and reduce inequalities. Spear-headed by the Office of the UN Secretary-General’s Envoy on Youth, the UN Young Leaders Initiative will recognize on an annual basis 17 young leaders who are driving […]
‘s exit from Indian Reserve Bank rattles investors
June 20, 2016 (LBO) – India’s Central Bank Governor Raghuram Rajan said in a letter on Saturday that he won’t serve past his term which ends in September, a reflection of a tense relationship with the government and their attempt to push him out the door. Rajan becomes the first RBI governor since India’s economic […]
Asia stocks gain as Brexit fears ebb slightly, pound surges
June 20 (Reuters) – Asian stocks gained early on Monday as rising expectations of Britain voting to remain in the European Union lifted risk sentiment and the pound jumped against its peers. MSCI’s broadest index of Asia-Pacific shares outside Japan gained 0.4 percent. Japan’s Nikkei climbed 1.5 percent, helped by a retreat in the recently […]
Anuradhapura hosts sacred Buddhist relics from Pakistan
The Most Sacred Relics of Lord Buddha from Taxila Pakistan are currently being exhibited for general public in Thanthirimalaya Rajamaha Viharaya, Thanthirimalaya, Anuradhapura for two days on the occasion of Poson Full Moon Poya Day. The sacred relics include two holy bone relics of Lord Buddha, a golden casket containing the relics and a stone […]