Category: Other
Sri Lanka calls international partners to jointly operate Hambantota RO-RO hub
July 10, 2015 (LBO) – Sri Lanka calls for international partner to jointly operate a Roll-on-Roll-off (RO-RO) berth of Hambantota port considering the potentiality of developing it as a reshipping center.Cabinet Spokeman said, ships can easily reach East African countries and Western Australia directly from the Hambantota port which is situated between Singapore and Dubai […]
BRICS, emerging economies launch new development bank
July 10, 2015 (LBO) – Emerging economies, Brazil, Russia, India, China and South Africa (BRICS) launched a development bank and a currency pool, Thursday, foreign media reports said.“Countries attending a two-day summit in Russia for the world’s emerging economies, known as BRICS, have launched their biggest initiative to date: a development bank and a currency […]
Greek Banks extend daily limit on ATMs
July 09, 2015 (LBO) – The government of Greece has extended bank closures and a 66 US dollar daily limit on ATM withdrawals until Monday, Foreign Media reports said.The European Central Bank has decided not to increase support for Greek banks until the debt crisis is resolved, the report said. This is ahead of the […]
The NYSE resumes trading after technical failure; rejects reports of cyber attack
July 09, 2015 (LBO) – The New York Stock Exchange resumed its trading activities after the exchange facing a major technical failure that suspended trading on Wednesday afternoon.“The issue we are experiencing is an internal technical issue and is not the result of a cyber breach,” the NYSE said in a statement.“We chose to suspend […]
Chinese shares drop over 8-pct, amid regulators help
July 08, 2015 (LBO) – China’s main stock index, Shanghai Composite fell 8.2 percent at the start of trading Wednesday with the index dropping 4 percent to 3576.79, foreign media reports said. The smaller Shenzhen Composite fell 3.9 percent. The media report said, the slump came despite more moves by China’s regulators to try and […]
Asian stock markets back on track
July 07, 2015 (LBO) – Most of the Asian markets traded higher on Tuesday, following losses on Monday, foreign media reports said. Japan’s benchmark Nikkei 225 was up 1.4 percent to 20,389.47 in early trade while the euro also rebounded from Monday’s one week low to 1.1045 US dollars against the dollar. Hong Kong’s Hang […]
Greece referendum rejects reforms; Eurozone members to meet
July 06, 2015 (LBO) – European Commission after the result of the Greece referendum has called Eurozone members and the Heads of the EU institutions for an immediate discussion.Releasing a statement the European Commission said its President Jean-Claude Juncker will address the European Parliament in Strasbourg on Tuesday. “President Juncker is consulting tonight and tomorrow […]
Greece to default debt
June 30,2015 (LBO) – A senior government official of Greece has declared that Greece will not honor loan installment repayment of USD 1.8 falls due on Tuesday, media reports say. Analysts say this brings Greece a step closer to departure from Eurozone.Leaving the Eurozone is highly complicated, as the agreement that brought nations together to […]
Asia Misery Extended to European Markets
June 29,2015 (LBO) -The European markets fell sharply on Monday following the dramatic drop in Asia markets in earlier Monday, spooked by a possibility of Greece walking away from the debts.In France CAC40 fell by nearly 5%, in Germany DAX by 3% and in Britain FTSE 100 by 2.2%. The Greek debt crisis also hit […]
Sri Lanka signs articles of agreement for Asian Infrastructure Investment Bank
June 29, 2015 (LBO) – Sri Lanka on Monday signed the articles of agreement for the China led Asian Infrastructure Investment Bank which is expected to be operational by the year end. Representatives from 57 prospective founding members of the Asian Infrastructure Investment Bank including Sri Lanka gathered on 29 June 2015 in Beijing at […]
Designated envoys to Philippines and Vietnam visits Ceylon Chamber of Commerce
The Ceylon Chamber of Commerce recently, facilitated a meeting between Sri Lanka’s designated envoys to Vietnam and Philippines, respectively Hasanthi Dissanayake and Aruni Ranaraja and some local companies, who are doing business with the respective countries to discuss matters relating to trade and commercial ties between Sri Lankan and those two countries. During the discussion, […]
Sri Lanka to implement capital loan scheme for tea; guaranteed price for rubber
June 26, 2015 (LBO) – Sri Lanka’s cabinet has decided to implement a capital loan scheme for the tea industry and a guaranteed price scheme for the natural raw rubber. The capital loan scheme will be implement for all owners of tea industries through all State and Commercial Banks. The Cabinet has approved to provide […]