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Sri Lanka Planters Association says tea industry might survive with new pay model
Sep 15, 2015 (LBO) – Sri Lanka’s Planters Association says that tea industry, which is in a revenue crisis, might have a chance to survive if its new productivity-linked wage model presented to employees is accepted by them.“The employers’ ability to pay is a very important and critically fundamental aspect when labour wages are negotiated,” […]
‘s visit to India
Prime Minister Ranil Wickremesinghe received by Nirmala Sitharaman, Minister of State (Independent Charge) for Commerce and industry at Indira Ghandi International Airport today (14.09.15)
High number of Sri Lanka vehicle registrations continue: JB Securities
Sept 14, 2015 (LBO) – Vehicle registration momentum continued into August although in most categories the numbers were lower than the all-time records set in July, JB Securities said in a research note. Total registrations were 50,555 in August lower than 62,221 recorded in July – the main contributor to the slowdown was a fall […]
Fitch Withdraws Rating on Ceylon Income Fund; Ceylon Asset Management responds
Sep 14,2015 (LBO) – Fitch Ratings said it has withdrawn Ceylon Income Fund’s National Fund Credit Quality Rating of A(lka)’ saying there is no National Volatility Rating assigned to the fund, which is managed by Ceylon Asset Management.Following the Securities and Exchange Commission of Sri Lanka not renewing the license of Lanka Rating Agency (LRA), in July 2015, […]
Sri Lanka to establish two mechanisms for truth seeking with new constitution: FM
Sep 14, 2015 (LBO) – Sri Lanka’s government is to set up new independent, credible and empowered mechanism for truth seeking process, Foreign Minister Mangala Samaraweera said. Speaking at the opening session of the 30th UN Human Rights Council session a short while ago minister said the new mechanism will uphold justice, reparations and guarantees […]
Sri Lanka stocks close up 0.13-pct: JKH warrant 22 hits new low
Sep 14, 2015 (LBO) – Sri Lankan stocks closed up 0.13 percent on Monday following Foreign Minister Mangala Samaraweera’s statement at UN Human Rights Council session with some banks and high cap stocks showing gains, brokers said. The Colombo benchmark All Share Price Index closed up 8.95 points at 7,162.44 higher 0.13 percent. S&P SL20 closed […]
Sri Lanka’s Human Rights report findings are serious in nature: UN Rights Chief
Sep 14, 2015 (LBO) – Findings of the Sri Lanka’s Human Rights report which will be released on Wedenesday are of the most serious nature, UN High Commissioner for Human Rights Prince Zeid said. Speaking at the opening session of the 30th UN Human Rights Council session a short while ago Prince Zeid said he […]
‘l Trade Minister
Sep 14, 2015 (LBO) – Sri Lanka will not discuss or sign the Comprehensive Economic Partnership Agreement, during the prime minister’s official visit to India, Development Strategies and International Trade Minister Malik Samarawickrama said in a statement. Commenting further on CEPA Samarawickrama says: “Entering into trade agreements with other countries is not far-fetched considering the […]
ICRA Lanka assigns A-(Stable) rating to First Capital Treasuries
Sep 14, 2015 (LBO) – ICRA Lanka has assigned the Issuer rating of [SL] A- with stable outlook to First Capital Treasuries Limited. The rating agency has also assigned the [SL] BBB+ rating with stable outlook to the 500 million rupees Subordinated Unsecured redeemable Debenture programme of the company. The full text of the rating; […]
CEB includes nuclear power in generation plan
Sept 14, 2015 (LBO) – Sri Lanka’s Ceylon Electricity Board has included a 600 megawatt nuclear power plant as an option for power generation from 2030 onwards, in its long-term generation plan, now open for public discussion.“From a technical point of view, the capacity of the present system is considerably small to accommodate a nuclear […]
Asian stocks mixed amid new Chinese data and Fed uncertainty
Sep 14, 2015 (LBO) – Asian stocks were showed mixed sentiment in cautious trade on Monday, according to foreign media reports as investors grew cautious over new Chinese data released Sunday and an expected Federal Reserve’s policy meeting later this week. Japan shares fell and Chinese markets wavered Monday, after economic data over the weekend […]
‘s rate decision
Sept 14, 2015 (LBO) – U.S. analysts are deeply divided on whether the Fed should increase rates on September 17, it’s first rate hike in nearly a decade. Some believe a hike will be a major blunder slowing down an already vulnerable global economy, while others say the expansion is healthy enough and a cycle […]