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Sri Lanka’s listed Shalimar and Indo Malay to sell two estates
June 16, 2016 (LBO) – Sri Lanka’s listed Shalimar and Indo Malay have entered into a deal to sell two estates to a Malaysian company subject to certain conditions. Following the shareholder approval obtained at the EGM held last month, the directors have executed a sale and purchase agreement with Euro-Asia Brand Holding Company, a […]
Asian shares face weekly losses, sterling rebounds in Brexit turmoil
TOKYO, June 17 (Reuters) – Asian shares rose on Friday, but remained on track for weekly losses in a week dominated by fears that British voters will opt to leave the European Union in next week’s referendum. Campaigning for the upcoming vote, which overshadowed this week’s central bank meetings, was temporarily halted after a […]
Sri Lanka CDS to introduce electronic voting and IPO facility this year
June 16, 2016 (LBO) – Sri Lanka’s Central Depository Systems is looking forward to introduce a fully-fledged electronic IPO and voting system during this year. During an interview, Head of CDS, Nalin Fonseka said the E-IPO system will facilitate inward and outward payments from investors efficiently and will offer other benefits such as facilitation of […]
Classic car club of Ceylon celebrates annual members’ day
Another successful event of the Classic Car Club of Ceylon was concluded recently, under the generous Sponsorships of SML Frontier Automotive (Pvt) Limited and McLarens Lubricants Limited (Sole Distributor for ExxonMobil Lubricants in Sri Lanka), who have maintained longstanding relationship with the Club. The Annual Member’s Day, which is much looked forward to, due to […]
Harim Peiris appointed as advisor to Foreign Minister
Harim Peiris received his official letter of appointment as Advisor to the Minister of Foreign Affairs on 15 June 2016 from Minister Mangala Samaraweera. Peiris is also Sri Lanka’s Point of Contact for the Open Government Partnership (OGP). Ministry of Foreign Affairs Colombo
Megapolis Plan to be institutionalized through Parliament: Mawilmada
June 16, 2016 (LBO) – The proposed Western Region Megapolis Plan will be institutionalized through an act of Parliament, in order to make sure it remains intact as a stable ‘national policy’ said Nayana Mawilmada, Head of Investment of the 40 billion dollar Megapolis project. Mawilmada revealed this, when he addressed the Main Committee of […]
Türk Exim Bank to allocate USD350mn credit line to Sri Lanka
June 16, 2016 (LBO) – Türk Exim Bank is to allocate a credit line of 350 million US dollars to the Sri Lankan government with a view to further enhancing relations through financial cooperation. A MoU between Sri Lanka and Turkey will be signed in the near future in this regard, the Foreign Minister Mangala […]
US Fed leaves rates steady on slower labor market
June 16, 2016 (LBO) – The US Federal Reserve left its benchmark target for the federal funds rate steady at 0.25 to 0.50 percent, supporting further improvement in labor market conditions and a return to 2 percent inflation target. The Fed, the central bank of the United States, said the pace of improvement in the […]
PTL Watch: Treasury bond yields edge up, volumes thin
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‘s business chamber calls for awards applications
June 16, 2016 (LBO) – Sri Lanka’s Women’s Chamber of Industry & Commerce (WCIC) has called for applications for the ‘Woman Entrepreneur of the Year Awards.’ In its 9th year, the awards will recognize high flyers in micro, small, medium and large industry categories, as well as new categories: Woman Exporter of the Year, Most […]
Global treasuries plunge on Brexit, safe haven demand
June 16, 2016 (LBO) – The prospect of Britain leaving the European Union is boosting demand for safe haven assets, with bond yields falling to new lows, as the Fed suggests that low yields could be a more longer term phenomenon. Benchmark 10-year yields are plunging across the globe. Japan fell to minus 0.21 percent. […]
Harsha de Silva delivers inaugural address at Gateway House
Dr. Harsha de Silva, Deputy Minister of Foreign Affairs of Sri Lanka visited Mumbai, to deliver the inaugural address at the Gateway of India Dialogue on 13 June 2016. The event were organised by the Gateway House; the only foreign policy think tank in Mumbai and the Ministry of External Affairs, India. In his address, […]