Tag: lbo
Brandix, IUCN collaborate to monitor Kelani River water
Dec 01, 2016 (LBO) – Sri Lankan apparel exporter Brandix will fund a project by the International Union for Conservation of Nature (IUCN) to monitor the water quality in the Kelani River Basin as a prelude to a larger initiative for the Basin’s management and conservation. “The first year of the project will encompass an assessment […]
‘s maintains stable outlook on Sri Lankan banking sector
Dec 01, 2016 (LBO) – Moody’s Investors Service has maintained its stable outlook on Sri Lanka’s banking system, as moderate economic growth and reduced external volatility should keep operating conditions for the country’s banks stable. “Continued strong loan growth may put downward pressure on asset quality and liquidity conditions, but nonperforming loan (NPL) ratios will […]
Comm Bank, Dunamis Capital and Aitken Spence win at CSE Masterminds 2016
(PRESS RELEASE) – Commercial Bank of Ceylon PLC won the inaugural capital market quiz organized by the Colombo Stock Exchange (CSE) recently. Dunamis Capital PLC and Aitken Spence PLC emerged as the First and Second Runners-Up of the competition, which was held at the CSE Trading Floor. The competition, for which entrance was exclusive and […]
Sri Lanka approves two wind power plants in Chunnakam
Dec 01, 2016 (LBO) – Sri Lanka’s cabinet has given the approval to award tenders establish two wind power plants of 10 megawatts each in Chunnakam. “The government has paid its attention on generating a larger portion of electricity requirement by renewable energy sources and it is proposed to establish solar and wind power plants,” […]
Oil, dollar and bond yields sharply higher after OPEC deal
TOKYO, Dec 1 (Reuters) – Crude prices, the dollar and bond yields were sharply elevated early on Thursday after OPEC agreed to a deal to reduce output to clear a supply glut that has crunched oil prices and stoked global deflationary pressures. The Organization of the Petroleum Exporting Countries on Wednesday agreed to its […]
Asia flat following a weaker Wall Street as Treasury yields hit 16-mth high
lbo.lk,lboSINGAPORE, Dec 2 (Reuters) – Asian shares were flat in early trade on Friday following mostly sluggish sessions on Wall Street and Europe, as 10-year U.S. Treasury yields surged to near 18-month highs and crude futures soared to 16-month highs. MSCI’s broadest index of Asia-Pacific shares outside Japan was little changed, but remained on […]
New legal framework for solar in Sri Lanka, no more licences
Nov 30, 2016 (LBO) – Sri Lanka’s power regulator, Public Utilities Commission of Sri Lanka (PUCSL), has decided to remove the legal barriers for consumers who wish to enter into electricity generation based on solar power. “It has been proposed to exempt the electricity consumers, who generate electricity in small scale through rooftop solar power […]
Sri Lanka tourist earnings up, slower growth in workers’ remittances
Nov 30, 2016 (LBO) – Sri Lanka’s earnings from tourism increased while slower growth was seen in workers’ remittances in October 2016, the Central Bank said. In the the first ten months of 2016 tourism earnings rose to 2,749.4 million dollars compared to 2,400.1 million in the same period of 2015, the Central Banks review […]
Licencing , regulation and supervision of companies carrying on Micro finance Business
(PRESS RELEASE) – The Microfinance Act, No. 6 of 2016 was enacted with the objective of providing a regulatory framework to cover microfinance institutions that are not regulated at present. The purpose of the Act is to improve the delivery of financial services to low income persons and micro enterprises, increase financial inclusion, strengthen the […]
Vote on Facebook for your favourite feature on Emirates Economy Class
(PRESS RELEASE) – Even among seasoned travellers, air travel invariably generates a conversation and now Emirates is engaging in one with its customers and fans in Sri Lanka via social media. The global connector of people, places and experiences has invited its Facebook fans in Sri Lanka to vote for one of three features that distinguish […]
Asia stocks edge up on U.S. growth data cues; dollar steady
HONG KONG, Nov 30 (Reuters) – Asian stocks edged higher on Wednesday reflecting upbeat U.S. growth news while oil steadied after a sharp drop overnight as OPEC struggled to agree on a glut-draining production cut. MSCI’s broadest index of Asia-Pacific shares outside Japan was up 0.1 percent in early trades. It is poised to post […]
Sri Lankan rupee edges down on importer dollar demand; stx up
COLOMBO, Nov 29 (Reuters) – The Sri Lankan rupee traded marginally weaker on Tuesday, hurt by dollar demand from importers amid fears that economic policies of U.S. President-elect Donald Trump may lead to a rise in the greenback and trigger foreign fund outflows. The market shrugged off the central bank’s key monetary policy decision on […]