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Turkey Foreign Minister to visit Sri Lanka tomorrow
Foreign Affairs Minister of the Republic of Turkey will pay an official visit to Sri Lanka between 14th and 15th June 2016. The Minister will be received by President Maithripala Sirisena, Prime Minister Ranil Wickremasinghe and the Speaker of Parliament Karu Jayasuriya. He will also hold bilateral talks with the Foreign Minister Mangala Samaraweera and […]
‘s senior debt BBB+(lka)(EXP)
Fitch Ratings has assigned Senkadagala Finance PLC’s (SFC: BBB+(lka)/Stable) proposed issue of senior unsecured redeemable debentures of up to LKR2bn an expected National Long-Term rating of ‘BBB+(lka)(EXP)’. The debentures will have tenors of two to four years and carry fixed and floating coupons. The debentures are to be listed on the Colombo Stock Exchange and […]
Bitcoin hits 2-year high, now 684.78 on Chinese buying
June 13, 2016 (LBO) – A sudden burst of buying pressure in Bitcoin, driven by Chinese buyers, has spiked the virtual currency higher to 684.78 dollars on heavy volumes. Bitcoin is trading at its highest level since May 2014, and “up 250 percent since we first suggested this an outlet for desperate-to-leave capital outflows in […]
IFC looks to fund Sri Lanka infrastructure, tourism and energy
Jun 13, 2016 (LBO) – The International Finance Corporation, a part of the World Bank group, said they are focusing on financing financially viable projects in Sri Lanka, and highlighted potential areas such as infrastructure, tourism, agribusiness, energy and also finance. “The project IFC gets involved should be viable and also should have a development […]
Ford partners and JEN to support 50 families in Kilinochchi
Ford Motor Company, represented in Sri Lanka by Future Automobiles, a subsidiary of Softlogic Holdings, has awarded a grant to JEN (Japan Emergency NGO) to carry out an agricultural livelihood project in Kilinochchi. Utilising the funding from Ford, JEN will be able to assist people who have returned from displacement regain their livelihood through agriculture. […]
DIMO appoints 4 new directors to the Board
Diesel & Motor Engineering PLC (DIMO) recently appointed four new directors to its Board effective from 1st June 2016. The new directors are Mr Asite Talwatte, Mr Vijitha Bandara, Mr Wijith Pushpawela and Mr Chaminda Ranawana. Mr Asite Talwatte is the former Country Managing Partner at Ernst & Young, a position in which he served […]
‘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 […]