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Muslim Council appeals for pardon for Sri Lankan maid
Dec 07, 2015 (LBO) – The Muslim Council of Sri Lanka has appealed to the King of Saudi Arabia to pardon two Sri Lankan individuals to be punished under country’s laws.The house maid is sentenced to death by stoning for the crime of adultery while the other respondent, a Sri Lankan male migrant worker is […]
Asiri Hospitals shows interest in buying Lanka Hospitals
Dec 07, 2015 (LBO) – Sri Lanka Softlogic‘s flagship hospital chain Asiri Hospitals Holdings Plc had shown interest in buying Lanka Hospitals stake, the company said in a filing to stock exchange. “Softlogic’s flagship hospital chain Asiri Hospitals Holding Plc being the leading private sector healthcare provider in Sri Lanka wish to announce that we […]
Sri Lanka stocks close down 0.2-pct: Low investor activity
Dec 07, 2015 (LBO) – Sri Lankan stocks closed down at 0.16 percent with low investor activity, brokers said. The Colombo benchmark All Share Price Index closed down 10.93 points at 6,858.63 down 0.16 percent. S&P SL20 closed 4.88 points lower at 3,633.68 down 0.13 percent. Turnover was at 388 million rupees, lower than the […]
Debt Report: Thin activity in Sri Lanka markets, liquidity surplus dips
Nov 07, 2015 (LBO) – There was thin activity in Sri Lanka’s bond market with foreign remittances balancing importer dollar demand in the currency market. Market eyes are on Fed policy meeting Dec 15-16, with Federal funds futures showing a 79-percent chance the Fed will end seven years of near-zero interest rates and about 50 […]
Litro Gas shows 30 pct growth, completes terminal at Hambantota
Press Release: The national LPG (liquid petroleum gas) company has exhibited a significant sales growth of above 30pct in the domestic market during the first 10 months of this year. This complements with the imposed price reductions by the government. The recent decision taken by the government to reduce the price of 12.5Kg domestic LP […]
Chamber wins GOLD at ICASL Annual Report Awards
The Ceylon Chamber of Commerce won the ‘GOLD’ award for Overall Excellence in Annual Financial Reporting under the Not-For-Profit organizations category at the grand finale of the 51st Annual Report Awards Competition, organized by the Institute of Chartered Accountants of Sri Lanka. This is the 5th time, the Ceylon Chamber has won a Gold for […]
FCID arrests Nalaka Godahewa over misuse of SEC funds
Dec 07, 2015 (LBO) – Sri Lanka’s Police Financial Crimes Investigation Division has arrested Former Chairman of Securities and Exchange Commission, Dr. Nalaka Godahewa on charges of financial fraud involving five million rupees. The Police said he was arrested after arriving at the FCID on Monday morning to provide a statement. Two individuals including a […]
Sri Lanka Ports Authority gets new MD
Dec 07, 2015 (LBO) – Sri Lanka Ports Authority (SLPA) has appointed Sarathkumara Premachandra as it’s new managing director, the authority said in a statement. “We can make SLPA a successful and competitive public institution that feeds the national economy of the country in a real big way,” Premachandra was quoted as saying in the statement. […]
Commercial Credit Debenture Issue oversubscribed on opening day
Dec 07, 2015 (LBO) – Sri Lanka’s Commercial Credit and Finance PLC’s issue of up to 20 million rated, guaranteed, subordinated, redeemable five-year Debentures at a par value of 100 rupees each was oversubscribed soon after subscriptions were opened on Wednesday, the 3rd of December 2015, the company said in a media release. Accordingly the company […]
Beware of fake LinkedIn profiles: Symantec
Dec 07, 2015 (LBO) – Global security software giant Symantec calls the users of LinkedIn to be skeptical when using the service as incidents involving fake LinkedIn accounts are on the rise.Boasting over 400 million users, the Business-oriented social networking service, is a prime target for scammers looking to connect with professionals in a variety […]
CSE sets mandatory rules on Related Party Transactions
Dec 07, 2015 (LBO) – The Colombo Stock exchange has mandated the rules relating to Related Party Transactions by all Listed Companies from 01 January 2016.Accordingly, section 9 of the CSE Listing Rules set out the relevant rules applicable in the event a listed entity enters into a related party transaction. The salient features of […]
” mistakes in logistics, transport: CILT
Dec 07, 2015 (LBO) – Sri Lanka’s budget proposals for 2016 repeat many of the mistakes in previous budgets in the areas of logistics and transportation, the Chartered Institute of Logistics and Transportation says in its budget analysis. The institute said the “over-zealous” attitude to improve the road network is likely to continue with projects […]