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Stocks close down 0.3-pct; seven week low
Sep 08, 2015 (LBO) – Sri Lankan stocks closed down 0.35 percent on Tuesday on a seven week low with the losses in John Keells Holdings, brokers said. The Colombo benchmark All Share Price Index closed down 25.24 points at 7,122.46 lower 0.35 percent. S&P SL20 closed 16.96 points lower at 3,914.04 down 0.43 percent. […]
Sri Lanka’s jumbo cabinet promises exciting new policy initiatives
Sep 08, 2015 (LBO) – Sri Lanka’s ‘national government’ appointed a jumbo 42-member cabinet last Friday after lengthy discussions between ambitious parliamentarians, that left some analysts scratching their heads. The general public however reached for their LBO and Google search bars to find the ministry most relevant to them. For instance, a search for “development” […]
Sri Lanka’s port city project still on hold, discussion positive says CHEC
Sep 08, 2015 (LBO) – The builders of Sri Lanka’s Chinese-funded port city project say discussions are still ongoing and they await a positive reply from the government after the suspension of work. “We are actually at the discussion level,” Liang Thow Ming, Chief Sales and Marketing Officer, of CHEC Port City Colombo (Pvt) Ltd […]
Commercial Bank receives FinanceAsia Best Bank Country Award 2015
The Commercial Bank of Ceylon recently received the 2015 FinanceAsia award for the ‘Best Bank in Sri Lanka’ at a glitzy awards ceremony at the Ritz – Carlton in Hong Kong. This fifth ‘FinanceAsia Country Award for Achievement’ presented to Commercial Bank by the magazine was accepted on behalf of the Bank by its Chief […]
Sri Lanka to boost trade with Vietnam, Myanmar, Thailand through business forum
Sep 08, 2015 (LBO) – Sri Lanka’s Ceylon Chamber of Commerce (CCC) will host a business forum with the aim of boosting trade and investments Vietnam, Myanmar and Thailand, the CCC said in a statement. The forum will be held on September 11 with the presence of envoys from the three countries, honorary consuls and […]
Wijedasa Rajapakshe assuming duties at Ministry of Justice
Minister of Justice President’s Council Dr.Wijedasa Rajapakshe assuming duties at the Aluthkade Justice ministry office today (08). Mrs. Kamalani de Silva Secretary of justice ministry and senior officials of the ministry were present at this occasion.
ICRA Lanka assigns BBB rating for EAP Broadcasting
Sep 08, 2015 (LBO) – ICRA Lanka Limited has assigned an Issuer rating of BBB for EAP Broadcasting Company with a stable outlook on the rating. The full text of the rating is reproduced below. ICRA Lanka assigns [SL]BBB rating with Stable outlook to EAP Broadcasting Company Limited ICRA Lanka Limited, a wholly owned subsidiary of […]
‘s JICA, big infrastructure lender with a small case of understatement
Sept 08, 2010 (LBO) – Out of the multilateral and bilateral lenders to the island of Sri Lanka, JICA may be the most important, and the least well known. “Lot of people don’t really seem to know what JICA is. They know the ADB and the World Bank. Maybe its because we don’t have word […]
‘s ruble collapse tied to energy prices, volatility to continue
Sept 08, 2015 (LBO) – Russia’s ruble has lost 45 percent of its value this year tied to collapse in oil prices, and volatility is likely to continue, analysts say. With Brent crude oil prices plunging more than 50 percent, the world’s biggest energy exporter has struggled to maintain its currency. 12 months ago, the […]
Magisterial inquiry into Avant Garde floating armory ends
Sept 07, 2015 (LBO) – A Sri Lanka magisterial inquiry into a floating armory of Avant Garde Maritime Services (Pvt) Ltd has ended after the Criminal Investigation Department said it would not proceed with the case under advice of the Attorney General.Last week, the Galle magistrate lifted the travel ban on the former Secretary of […]
Exercising of JKH 2015 warrants to commence from 29 Sept
Sep 07, 2015 (LBO) – Sri Lanka’s conglomerate John Keells Holdings on Monday said the exercising of 2015 warrants of the company will commence from 29 September till the expiration date of 12 November 2015.The purchase price of a warrant is 161.87 rupees per ordinary share, and each warrant shall entitle the warrant holder to […]
Sri Lanka’s first smart city to be Kandy
Sep 07, 2015 (LBO) – Sri Lanka’s central city Kandy will be developed as the first ‘Smart City’ in the island, Rauf Hakeem, new Minister of Town Planning and Water Resources said in a media report. “India under a plan of the Indian Prime Minister Narendra Modi has already begun forming smart cities and the […]