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India rates tied to fiscal discipline, Rajan signals Modi
Feb 03, 2016 (LBO) – India held interest rates unchanged on Tuesday with Reserve Bank of India Governor Raghuram Rajan sending a message to Prime Minister Narendra Modi that continued fiscal discipline was necessary for further interest rate cuts. “The Indian economy is currently being viewed as a beacon of stability because of the steady […]
Dulanjalee Premadasa writes to Mahinda Rajapaksa
1st February 2016 Original By Registered Post Copy by Courier Mr. Mahinda Rajapaksa, Member of Parliament Carlton House Tangalle Mr Rajapaksa, First let me say that, as a parent myself, I empathize with your wife and yourself on Yoshitha’s current legal status. Having said that I do not know whether Yositha is guilty or innocent […]
‘s most valuable company
Feb 02, 2016 (LBO) – Google’s parent company, Alphabet has reported fourth quarter earnings driving up the company’s shares by over 8 percent, foreign media reported. Alphabet shares jumped after the strong earnings report, making Google worth roughly 544 billion US dollars though Apple’s market capitalization stood at 534 billion US dollars. That has made […]
Hutch CEO commends TRC for new Flat Rate determination
The Telecommunication Regulatory Commission (TRC), the country’s telecom regulatory authority has established a new flat calling rate from 01st February, 2016. The old dual on-net/off-net tariff structure charged mobile subscribers twice the rate for calling off-net compared to calling on-net. This caused a lot of confusion and difficulties to mobile subscribers as they had to […]
Australia supports regenerative agriculture in Sri Lanka
The Australian High Commission is proud to have supported the growth of regenerative agriculture in Sri Lanka through the Direct Aid Program. On 28 January, Second Secretary Nick Burnett and Research Officer Namal Perera visited a project run by the Neo Synthesis Research Centre in Pallama in the Puttlam district, which teaches local farmers about […]
PTL Watch: Demand for short tenor Sri Lanka bonds
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US presidential race kicks off, Ted Cruz wins Iowa Republican caucuses
Feb 02, 2016 (LBO) – Texas Senator Ted Cruz has won the Iowa Republican caucuses defeating controversial figure Donald Trump in the United State’s first presidential contest. Cruz has bagged 28 percent of the Republican vote beating Donald Trump and Marco Rubio. Votes in the Democratic race are still being counted showing a fierce battle […]
Korea Eximbank to provide feasibility study for tunnel in Kandy
The Road Development Authority (RDA) of Sri Lanka and the Export-Import Bank of Korea (Korea Eximbank) will collaborate to explore durable solutions to ease the traffic woes that have plagued Kandy for the past decade. For all the tranquility that the Kandy city offers its residents and tourists alike, its central business district has been […]
Aitken Spence facilitates cruise ship call on all ports in Sri Lanka
For the first time in Sri Lanka a cruise ship has made calls on the four main ports of Sri Lanka. The Luxury Cruise Ship Ms Europa 2 owned by German Operator Hapag-Lloyd Kreuzfahrten called on the 29th, 30th and 31st January 2016 to the Ports of Galle, Colombo, Hambantota respectively and have arrived at […]
Sri Lanka-India power link pre-feasibility complete: Kumarasinghe
Feb 02, 2016 (LBO) – Pre-feasibility studies for Sri Lanka India HVDC transformation link have already been done in collaboration with power grid India and CEB, a senior official said. “There is a big opportunity here,” Damitha Kumarasinghe, director general of Public Utilities Commission of Sri Lanka said. “Now India is connected to Bangladesh, Nepal, […]
Hemas Holdings opens trading at Colombo Stock Exchange
Hemas Holdings PLC rang the opening bell to commence trading at the Colombo Stock Exchange (CSE) today. This event was yet another in a series of Market Opening Ceremonies, featuring companies from the S&P SL20 index. Chairman Mr. Husein Esufally, Group CEO Mr. Steven Enderby and Executive Director/ CFO Mr. Malinga Arsakularatne represented Hemas Holdings […]
Piramal Glass profits up 2.7 fold in Dec; wants pricing formula for furnace oil
Feb 01, 2016 (LBO) – Sri Lanka’s Piramal Glass Ceylon said profits in the quarter to December 2015 rose more than two fold to 166 million rupees from 61 million a year earlier despite concerns about the cost of Furnace oil. The firm which makes glassware saw revenues grow 11.6 percent to 1.78 billion rupees […]