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Sri Lanka tea sees improved demand for low growns at auction
Mar 31, 2016 (LBO) – Sri Lanka’s tea prices in overall auction offerings this week were marginally lower with better demand for low grown and mid to high grown prices easier, Forbes & Walker Tea Brokers said in their latest report. “Low Growns continued to witness improved demand all around and consequently an appreciation in prices,” the […]
‘s GDP seen up 5.3-pct in 2016, investment to rise, says ADB
Mar 31, 2016 (LBO) – Sri Lanka’s gross domestic product (GDP) growth is expected to rise to 5.3 percent in 2016 as private sector investment picks up once fiscal reforms are committed , a new Asian Development Bank (ADB) report says. “Fiscal consolidation is to be put back on track by a revision of the […]
Sri Lanka needs 6 months to fix issues before signing ETCA: Professionals
Mar 30, 2016 (LBO) – Sri Lanka should work towards a national trade policy within which ETCA should be framed with all required regulatory framework and national interests in place, Sri Lanka’s Engineers Association said. Engineer Nanda Gunawardena speaking at a recent seminar asked the government to delay the signing of ETCA until a proper […]
Govt. should heed public opinion on ETCA & constitutional change: MR
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Virtusa, Hitachi enters into strategic partnership to offer disruptive business solutions
Mar 30, 2016 (LBO) – Virtusa Corporation, a global business consulting and IT outsourcing company and Hitachi Limited announced yesterday that they have agreed on a global strategic partnership. Hitachi and Virtusa will leverage their core competencies, industry IT solutions and leadership to provide joint services to their global clients and the broader market. They […]
Census and Statistics Department instant updates, now on Twitter
The Department of Census and Statistics (DCS) provides various socio economic and demographic statistics to data users covering a wide spectrum from students, researchers to policymakers and international agencies. DCS produce statistics on regular basis from different sources, including censuses, surveys and administrative records. Currently the Department of Census and Statistics uses printed and electronic […]
PTL Watch: Bond activity up, interest in long tenors
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Fitch upgrades Hemas Holdings to AA-; outlook stable
Fitch Ratings has upgraded Sri Lanka-based Hemas Holdings PLC’s (Hemas) National Long-Term Rating to ‘AA-(lka)’ from ‘A+(lka)’. The Outlook is Stable. It has also upgraded the National Long-Term Rating on Hemas’s senior unsecured debentures to ‘AA-(lka) from ‘A+(lka)’. The upgrade reflects the company’s improved business risk profile, which is aided by its strong presence in […]
Cost Management Maturity Model introduced to Sri Lanka
Mar 30, 2016 (LBO) – The first ever ‘Total Cost Management Maturity Model’ practice has been introduced to Sri Lanka by the Confederation of Indian Industry’s Total Cost Management (TCM) division. The signing of the MOU between Institute of Certified Management Accountants of Sri Lanka (CMA) and TCM was held recently at a cost accountants’ […]
Ceylon Electricity Board violates license conditions, says PUCSL
Mar 30, 2016 (LBO) – Sri Lanka’s power regulator, Public Utilities Commission, has directed the CEB to explain the reasons for the recent violation of license conditions. This violation referring to the notice on ‘Electricity Interruptions’ appeared on the CEB website on 28 March 2016. However, in terms of the Transmission and Bulk Supply License, […]
Toyota Lanka unveils future technology at ‘Future World’ exhibition
Toyota Lanka announced a pioneering Future World Exhibition on Toyota Automotive Technology held on 29th and 30th March 2016 at the Sri Lanka Exhibition & Convention Centre (SLECC). The first-ever comprehensive motor technology exhibition of its kind to be held in the country, Future World is open to all existing, potential and future customers and […]
Sri Lanka plans to issue up to USD3 bln in international sovereign bonds
Mar 30, 2016 (LBO) – Sri Lanka plans to issue international sovereign bonds up to three billion dollars in 2016, the Central Bank said, in a request for proposals to appoint lead managers or book runners. “As per the approved Sovereign Bond programme of the Government of Sri Lanka (GOSL), Central Bank of Sri Lanka […]