Tag: lbo.lk
Ford partners and JEN to support 50 families in Kilinochchi
Ford Motor Company, represented in Sri Lanka by Future Automobiles, a subsidiary of Softlogic Holdings, has awarded a grant to JEN (Japan Emergency NGO) to carry out an agricultural livelihood project in Kilinochchi. Utilising the funding from Ford, JEN will be able to assist people who have returned from displacement regain their livelihood through agriculture. […]
DIMO appoints 4 new directors to the Board
Diesel & Motor Engineering PLC (DIMO) recently appointed four new directors to its Board effective from 1st June 2016. The new directors are Mr Asite Talwatte, Mr Vijitha Bandara, Mr Wijith Pushpawela and Mr Chaminda Ranawana. Mr Asite Talwatte is the former Country Managing Partner at Ernst & Young, a position in which he served […]
‘t favor risk assets: Gross
Jun 13, 2016 (LBO) – Bill Gross, who runs the 1.4 billion dollar Janus Global Unconstrained Bond Fund, says the possibility of Brexit is another element that does not favor risk assets. “Risk assets are dependent upon growth, they’re dependent upon — even in the high-yield market — on relative stability and to the extent […]
Asian shares and sterling skid, yen firms
June 13 (Reuters) – Asian shares and sterling skidded in early Asian trade on Monday and the perceived safe-haven yen rose, as investors fretted ahead of this week’s central bank meetings as well as Britain’s June 23 referendum on whether to remain in the European Union. Also adding to the grim U.S. mood, an man […]
Sri Lankan rupee up as exporters, foreign investors convert dollars
June 10 (Reuters) – Sri Lankan rupee forwards edged up on Friday as dollar conversions by foreign investors and exporters surpassed importer demand for the U.S. currency, dealers said. The spot rupee, which was traded actively for a third straight day, also rose, dealers said. Dollar/rupee forwards, known as spot next, were at 145.02/12 per […]
Sri Lanka’s MICE tourism capacity could do better: Minister
Jun 10, 2016 (LBO) – Sri Lanka should look at increasing its potential as a venue for holding Meetings, Incentive travel, Conferences and Events (MICE) tourism, a minister said. “This is something we need to work on as our MICE tourism capacity is lagging behind,” John Amaratunge, minister of Tourism Development and Christian Religious Affairs, said. […]
Businesses consider co-working long-term solution, says Regus
June 09, 2016 (LBO) – Latest research by flexible workspace provider Regus shows that co-working is now considered a long-term option for businesses, instead of a temporary solution. Sharing an office space used to be seen as little more than a short-term answer for start-ups on a budget or entrepreneurs seeking company. However, of the […]
India plans expanded missile export drive, with China on its mind
June 9 (Reuters) – India has stepped up efforts to sell an advanced cruise missile system to Vietnam and has at least 15 more markets in its sights, a push experts say reflects concerns in New Delhi about China’s growing military assertiveness. Selling the supersonic BrahMos missile, made by an Indo-Russian joint venture, would mark […]
Sri Lanka approves funds for reservoirs and Southern roads
Jun 08, 2016 (LBO) – Sri Lanka’s cabinet has approved several reservoir and road development projects including the lower MalwathuOya reservoir and roads under the Southern transport projects. “The proposed lower MalwathuOya reservoir project will directly benefit people in Anuradhapura, Vavuniya, and Mannar districts and will facilitate 12,425 hectares of land under the Yoda Wewa and […]
Sunrise Engineering to power Sri Lanka with “Veefil”
Re-charging electric vehicle in 20 minutes is now possible Sunrise Engineering signed an exclusive distributor agreement with Tritium, the Australian designer and manufacturer of the “Veefil”, the world’s most technologically-advanced rapid charger for electric vehicles.. This partnership comes at a very crucial time where the absence of rapid charging infrastructure is deeply felt in the […]
Sri Lanka to issue certificates of absence for missing persons
Jun 08, 2016 (LBO) – The Cabinet of Ministers approved draft legislation enabling the issuance of Certificates of Absence enabling family of missing to address practical issues relating to their disappearance. The draft legislation which involves an amendment to the Registration of Deaths (Temporary Provisions) Act, No. 19 of 2010 will now be gazetted and the […]
World Bank downgrades 2016 global growth to 2.4-pct
June 08, 2016 (LBO) – The World Bank is downgrading its 2016 global growth forecast to 2.4 percent from the 2.9 percent pace projected in January, a statement said. “The move is due to sluggish growth in advanced economies, stubbornly low commodity prices, weak global trade, and diminishing capital flows,” the bank said issuing a […]