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York Street Partners, Ikman.lk convene startup investor and entrepreneur forum
June 19, 2016 (LBO) – York Street Partners (YSP), Sri Lanka’s boutique investment bank, joined forces with Ikman.lk, the largest local online marketplace, to host Startup Investor and Entrepreneur Night. The event drew attention to the need for deepening relationships and understanding between entrepreneurs and investors, with the goal of increasing the flow of capital […]
‘s Dialog demonstrates internet speed of 1 Gbps
Jun 18, 2016 (LBO) – Sri Lanka’s Dialog telecom, a unit of Malaysia’s Axiata Group, said they established the capability to deliver super broadband connectivity that is 10 times faster than the fastest connection currently available. “Sri Lanka established yet another milestone on the region’s Broadband Technology landscape today with an exposition of South Asia’s […]
Opinion: Time for a better capitalism
By Henry Blodget Over the past few decades, the US economy has undergone a profound change. This change has helped rich Americans get richer. But it has also contributed to growing income inequality and the decline of the middle class. And, in so doing, it has fueled populist anger across the political spectrum and slowed […]
Sri Lanka’s Central Bank to sell USD250mn development bonds
June 17, 2016 (LBO) – The Central Bank will issue 250 million US dollars development bonds with a tenor of 1 year and 7 months, 2 years and 7 months and 4 years to local and foreign investors. The Debt Department said the subscription will be at a floating rate of 6 month LIBOR for […]
Sri Lankan rupee 1-wk forwards trade steady amid cbank moral suasion
June 17 (Reuters) – Sri Lankan rupee one-week forwards traded steady on Friday, but dealers said the local currency was under pressure due to lack of exporter dollar conversions and moral suasion by the central bank, which is holding the currency at current levels. One-week dollar/rupee forwards, which have been acting as a proxy for […]
EU lifts fishing ban, unofficial talks to finalize GSP+ application: PM
June 17, 2016 (LBO) – Sri Lanka has been removed from the list of third countries (countries outside the EU) not cooperating in the fight against illegal, unreported and unregulated fishing. The Council of the European Union adopted amendments to implementing decision 2014/170/EU establishing a list of non EU countries not cooperating in the fight […]
Sri Lanka port city becomes financial city, new deal by August: PM
June 17, 2016 (LBO) – Sri Lanka’s port city construction will be converted to a financial city with a new agreement which is expected to be signed by August with the China Harbour Engineering Company, the Premier said. Officially announcing the lifting of EU fishing ban, Prime Minister Ranil Wickremesinghe said the port city land […]
PTL Watch: Bond yields mixed, net foreign buying
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BOE keeps benchmark rates, warns over Brexit
June 17, 2016 (LBO) – The Bank of England (BOE) left its benchmark bank rate unchanged at 0.50 percent and warned about the risks to growth and inflation from a decision to leave the European Union. The Bank has set the monetary policy to meet the 2 percent inflation target that helps to sustain growth […]
Meeting IMF criteria key to improve ratings: Fitch Ratings
June 17, 2016 (LBO) – Sri Lanka still needs to refinance close to 3 billion US dollars for the rest of 2016 and remains vulnerable to shifts in investor sentiment, Fitch Ratings said. Delivering a presentation at a forum, Associate Director of Fitch APAC Sovereigns Sagarika Chandra emphasized that progress on IMF program criteria will […]
Shooting of British MP halts Brexit debate
June 17, 2016 (LBO) – The fatal shooting on Thursday of a British Member of Parliament, Jo Cox, an advocate for the U.K. to remain in the European Union, has temporarily silenced the debate over membership in the EU. All campaigning in the referendum was suspended after the first killing of a British member of […]
UNDP and Min of National Dialogue Partner to Promote Social Inclusion and Integration
Second Language Laboratory Declared Open in Agalawatte A new language laboratory was ceremonially opened by the Hon. Minister of National Co-Existence, Dialogue and Official Languages, Hon. Mano Ganesan together with United Nations Development Programme (UNDP) at the National Institute of Language Education and Training (NILET) in Agalawatte yesterday. The opening of this second laboratory is […]