Tag: lbo
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 […]
Sri Lanka recall mid income housing projects in Kandy, Galle, and Homagama
Jun 22, 2016 (LBO) – Sri Lanka’s cabinet has decided to recall proposals for housing projects in Kundasale, Homagama, Galle, and Nittambuwa and grant fresh approvals for projects in Panadura and Yakkala, a statement said. “The Steering Committee appointed in this regard has recommended to implement housing projects in Panadura, Homagama (Jalthara Phase II), Yakkala, […]
Seylan launches 1st digitally assisted customer support channels via WhatsApp and Facebook
June 2016 Colombo: Reinforcing its credentials as a technology-savvy bank focusing on increasing customer convenience and engagement, Seylan Bank demonstrated its customer centric digital preparedness by launching Sri Lanka’s first social media-based customer support channels via WhatsApp and Facebook Messenger. Pre-empting how technology will redefine its relationship with its customers, Seylan Bank’s digital thrust has […]
Oil prices above USD50, buoyed by U.S. stock draw
June 22 (Reuters) – Oil prices rose in early Asian trading on Wednesday, with U.S. crude joining Brent above $50 a barrel after data from the American Petroleum Institute (API) showed a larger than expected draw on stocks. U.S. crude futures’ August contract, the new front month from Wednesday, had climbed 35 cents to $50.20 […]
Sri Lankan rupee 1-wk forwards fall on importer dollar demand; stocks slip
June 22 (Reuters) – Sri Lankan rupee one-week forwards fell on Wednesday on importer dollar demand amid low liquidity for the U.S. currency after Moody’s revised down its outlook on the island nation’s sovereign rating, dealers said. The local currency was also under pressure due to lack of exporter conversions, while moral suasion by […]
Sri Lanka consumer prices soar 5.3-pct in May
Jun 22, 2016 (LBO) – Sri Lanka’s inflation climbed for the fourth straight month in May after recording a fall of 0.7 percent in January, according to the National Consumer Price Index (NCPI) introduced in October last year with 2013 as the base. According to the Census and Statistics Department inflation was 5.3 percent in […]
Sri Lanka, UNDP promote social inclusion through language labs
Jun 21, 2016 (LBO) – Sri Lanka’s multicultural society should be regarded as a strength and not a weakness to promote national co-existence, a minister said. “Multiculturalism and pluralism is not a weakness but a strength to our country,” Mano Ganesan minister of national co-existence, dialogue and official languages said at the opening of the […]
Linea Aqua Reaffirms Carbon, Water & Waste Conscious Status
Jun 21, 2016 (LBO) – Sri Lanka’s Linea Aqua, a swimwear manufacturer, said that they have reinforced their standing in environmental sustainability by recertifying their Hanwella Factory as carbon, water and waste conscious for a second consecutive year. “The certifications were awarded following stringent conformity assessments that measured the factory’s greenhouse gas emissions, waste generation, […]
Asia shares pause, sterling stands tall as Brexit vote looms
June 21 (Reuters) – Asian shares got off to a tentative start on Tuesday, as investors paused after a rally triggered by growing expectations that British voters will opt to remain in the European Union in this week’s referendum. Two of the latest polls released over the weekend showed the “Remain” camp in the […]
Sri Lankan rupee 1-wk forwards weaker on importer dlr demand
June 20 (Reuters) – Sri Lankan rupee one-week forwards traded weaker on Monday due to importer dollar demand while dealers said the rupee was under pressure due to lack of exporter dollar conversions amid moral suasion by the central bank . One-week dollar/rupee forwards, which have been acting as a proxy for the spot rupee […]
Interview: PickMe has 4,000 vehicles on road, expands to Kandy
Jun 20, 2016 (LBO) – ‘PickMe,’ Sri Lanka’s own mobile taxi hailing solutions provider, says they have close to 4,000 vehicles on the road, with over 2,000 three wheelers, one thousand mini cars, and the rest categorized as sedan cars and vans. The startup, which successfully raised capital in three rounds of funding, has now […]