Tag: lbo.lk
Central Bank Union calls for immediate action
Jun 29, 2016 (LBO) – Sri Lanka’s Central Bank Executive Officers Union says that immediate legitimate action needs to be taken to prevent probable anarchic state that would arise at the institution from July 01, 2016. “We write to record our discontent on the current state of depletion of public confidence in and heightened criticism […]
Sri Lanka to impose capital gains tax on stocks, Minister says
June 28 (Reuters) – Sri Lanka intends to impose a capital gains tax on profits from equities, a senior government minister said late on Monday, as the government attempts to shore up its finances to qualify for an IMF loan. Sri Lanka’s cabinet approved reintroducing a capital gains tax on land early this month, but has not said whether […]
Commercial Bank launches Sri Lanka’s first Remittance Card
Sri Lanka’s first Remittance Card has been launched by the Commercial Bank of Ceylon to introduce a new dimension in convenience to the process of transferring funds from overseas to local beneficiaries. A branded Debit cum ATM Card licensed by Visa Inc. and issued locally by Commercial Bank to recipients of remittances, the new Remittance […]
Brexit vote, UK political confusion keep world and asian markets on edge
June 28 (Reuters) – Britain’s vote to leave the European Union continued to reverberate through financial markets, with the pound falling to its lowest level in 31 years, despite government attempts to relieve some of the confusion about the political and economic outlook. UK finance minister George Osborne said early Monday that the British […]
Embark opens 4 new stores and transforms 14,000+ doggy lives in 2015-16
Embark, Sri Lanka’s fashion brand and community animal welfare programme, has reported another busy year, ending 2015-16 – its ninth year – with medical care provided to 14,459 of the country’s homeless street dogs. Working with likeminded partner organisations and volunteers, Embark performed 3,464 sterilisation surgeries, 5,788 anti-rabies vaccinations, 644 treatments for injured animals and […]
Sri Lanka to support China over South China Sea issue with Philippines
June 23 (Reuters) – China’s Foreign Ministry on Thursday brushed off doubts about how many countries have offered support for its position in a case brought by the Philippines over Chinese claims in the South China Sea, saying the number of nations was growing daily. China has stepped up its rhetoric ahead of an expected […]
Sri Lankan rupee 1-wk forwards edge up on dollar sales
June 23 (Reuters) – Sri Lankan rupee one-week forwards edged up on Thursday due to dollar selling by a state-run bank, while demand for the greenback from importers amid low liquidity weighed on the currency, dealers said. A decision by Moody’s to revise down the country’s sovereign rating outlook and lack of exporter conversions […]
Sri Lanka’s First VoLTE Service on Dialog’s LTE Networks
Dialog Axiata,Sri Lanka’s premier connectivity provider announced Wednesday 22nd June 2016, that the 4G-LTE Networks operated by the Dialog Group had been enabled with VoLTE (Voice over LTE) capability. The Dialog Group operates a Mobile 4G Network based on FD-LTE technology and a Fixed 4G Network based on TD-LTE. VoLTE is an acronym for Voice over LTE, which leverages […]
Fitch Downgrades NDB; Affirms 8 Sri Lanka Banks, Negative Outlook on DFCC, Sampath
Jun 23, 2016 (LBO) – Sri Lanka’s National Development Bank PLC’s (NDB) national long term rating has been downgraded to ‘A+(lka)’ from ‘AA(lka)’, Fitch rating said in a statement. The ratings on eight other Sri Lanka banks have been affirmed. The outlooks have been revised on DFCC Bank PLC’s (DFCC) and Sampath Bank PLC’s (Sampath) national longterm […]
Asia stocks, sterling rise as Brexit anxiety abates
June 23 (Reuters) – Asian shares edged up and sterling stood close to its peak for the year on Thursday, as investors were cautiously optimistic that British voters would opt to remain in the European Union at a referendum later in the session. Two opinion polls published late on Wednesday, a few hours before […]
POLL-Sri Lanka Central bank expected to keep policy rates steady
June 22 (Reuters) – Sri Lanka’s central bank is expected to keep its key interest rates steady for a fourth straight month on Friday, a Reuters poll showed, despite signs of rising inflation and stubbornly high private sector credit growth. The central bank has tightened monetary policy twice since December to fend off selling pressure […]
Thermo Plastics receives Marks and Spencer (UK) ECO Certification
Thermo Plastics (Pvt) Ltd, a leader in apparel packaging in Sri Lanka has once again been recognised for its commitment to the society and environment in which it operates, becoming the world’s first apparel shroud manufacturing plant to obtain Eco-factory accreditation by Marks & Spencer for fulfilling their plan A ECO attributes. As global warming […]