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No decision to dissolve the Bribery Commission: President’s Media
Sep 07, 2015 (LBO) – Commission to investigate allegations of bribery or corruption will not be dissolved until the establishment of the Constitutional Council, the President’s media said. The President’s Media said in a statement that the establishment of the Commission, appointments and removals of its members should be done in accordance with the 19th […]
ODEL launches ‘Into the Woods’ fall collection with glitzy fashion show
Fall inspires new fashion trends around the world, and Sri Lanka is no exception with ODELgiving local fashionistas an opportunity to experience the ‘forest couture’ that is dominating runways in the fashion capitalsof the world, with the launch of two new collections featuring dark and gloomy designs rich with earthy tones that take style lovers […]
Sri Lanka stocks close down 0.9-pct
Sep 07, 2015 (LBO) – Sri Lankan stocks closed down 0.91 percent on Monday for the second consecutive session amid notable depreciation in rupee with losses across the board, brokers said. The Colombo benchmark All Share Price Index closed down 65.41 points at 7,149.70, lower 0.91 percent. S&P SL20 closed 26.83 points lower at 3,931.00 […]
‘s Pan Asia Bank to issue 20mn debt
Sep 07, 2015 (LBO) – Sri Lanka’s Pan Asia banking corporation will issue a 20 million debt with an option to issue more, the Company said in a stock exchange filling.“We will issue 20,000,000 rated , unsecured, senior, redeemable debentures with an option to issue up to a further 10,000,000 debentures and with a further […]
Commercial Bank to reward online bill payments
The Commercial Bank of Ceylon has announced it will reward customers for usage of the Bank’s Online Banking facility with Rs 1.5 million in cash prizes over the next three months.A total of 300 customers are to be drawn for these cash prizes from those who pay bills to the cumulative value of Rs 2,500 […]
50th Defense Day of Pakistan celebrated in Colombo
The High Commission of Pakistan in Sri Lanka celebrated the 50th Defense Day of Pakistan last evening in Colombo, to commemorate the 1965 war events and sacrifices rendered by valiant Pakistan’s armed forces. The event attracted large gathering including Sri Lankan Government Ministers, Chief of Defense Staff, Commanders of Armed Forces of Sri Lanka, High […]
Orient Finance gets Central Bank approval for listing, IPO
Sept 07, 2015 (LBO) – Orient Finance PLC says the Central Bank of Sri Lanka has granted it approval to list shares on the Colombo Stock Exchange.The company said the listing would be by way of an Initial Public Offering, subject to approval from the Colombo Stock Exchange.Orient Finance was formerly known as Bartleet Finance.
Sri Lanka foreign reserves declined to USD6.4bn in Aug
Sep 07, 2015 (LBO) – Sri Lanka’s foreign reserves had declined to 6,466 million dollars by end August 2015, down from 6,887 million in July, Central Bank data showed.Foreign reserves in August is down 29 percent from 9,185 million dollar in August 2014.Sri Lanka received 1.1 billion dollars from the Reserve Bank of India under a […]
Sanasa Bank to get IFC advice on small businesses and cooperatives
Sep 07, 2015 (LBO) – International Finance Corporation (IFC), a member of the World Bank Group, will provide advisory services to Sanasa Development Bank as it expands into micro and small businesses, cooperatives, and retail clients, a media release said. “Sanasa Development Bank’s growth strategy involves long-term sustainable growth in three important sectors, SME, retail, and […]
Depreciation will help some equity sectors, ease uncertainty: Bartleet Religare
Sept 06, 2015 (LBO) – Sri Lanka’s depreciation last week will help export-related stocks and banks listed on the market, Bartleet Religare Securities said. From a foreign investors’ point of view, the depreciation takes away uncertainty that has been weighing on the market. “Foreign investors saw the devaluation coming and some did exit. Others didn’t […]
PAFFREL urges Election Commissioner to probe misuse of state vehicles
Sep 07, 2015 (LBO) – Sri Lanka’s election watchdog PAFFREL has urged Election Commissioner to probe alleged misuse of state vehicles by ministers and other politicians at the recently concluded general election.In a letter to the Election Department, the election monitoring organization has called the commissioner to take action against offenders. PAFFREL has also requested […]
Sri Lanka’s capital skyline changes with rise in luxury apartment market: report
Sep 06, 2015 (LBO) – The skyline of Sri Lanka’s capital is growing in terms of the number of luxury apartment units with the market expected to reach 6,000 units by 2018-19, from 2,657 units at the moment, a research report shows. “Apartment complexes have had a strong hand in shaping the skyline of Colombo.Starting […]