Tag: lbo
Sri Lanka tourist arrivals up 11.8-pct in Aug 2016, China tops India
Sep 07, 2016 (LBO) – Tourist arrivals to Sri Lanka rose 11.8 percent in August to 186,288 visitors compared with the same month last year, official data show. Arrivals during the first eight months of the year were up 16 percent to 1,359,906 visitors. China continued it’s upward trend in August for a second consecutive […]
Asia stocks at 1-year high as soft US data quells Fed hike talk
TOKYO, Sept 7 (Reuters) – The dollar took a tumble and Asian stocks rose to one-year highs on Wednesday after surprisingly weak U.S. services sector activity put paid to already slim chances of an interest rate hike by the Federal Reserve as early as this month. MSCI’s broadest index of Asia-Pacific shares outside Japan rose […]
‘s Distilleries approves Melstacorp as holding company of group
Sep 07, 2016 (LBO) – Shareholders of the Distilleries Company (DCSL) at an Extraordinary General Meeting approved the special resolution to make Melstacorp Ltd the holding company of the group yesterday. The resolution was approved with 99.9987 percent voting for and 0.0013 percent voting against. The EGM was convened on the orders of the Commercial […]
Sri Lankan rupee firmer on dollar sales by exporters, banks
COLOMBO, Sept 6 (Reuters) – The Sri Lankan rupee edged up on Tuesday as dollar sales by exporters and banks on behalf of foreign investors to buy government securities helped the currency amid a lack of demand from importers for the greenback, dealers said. The spot rupee was at 145.43/48 per dollar, slightly firmer compared […]
‘s Lagarde urges action to deliver on G20’s Hangzhou commitments
Sept 06, 2016 (LBO) – Christine Lagarde, Managing Director of the International Monetary Fund (IMF), called on the leadership of the Group of 20 (G20) to implement plans for economic growth through monetary, fiscal and structural adjustments, and for the wider sharing of this growth, after Summit in Hangzhou, China. “I would like to warmly […]
Asian shares edge up as investors await RBA
TOKYO, Sept 6 (Reuters) – Asian shares edged up on Tuesday but were mostly in a holding pattern after Monday’s U.S. holiday, as investors awaited a policy decision from the Reserve Bank of Australia. European stocks touched an eight-month high in choppy trading then reversed as trading wound down in the absence of U.S. markets, […]
Uber launches cash payment for rides in Sri Lanka
Sep 06, 2016 (LBO) – Uber, the smartphone app that connects riders to drivers, has launched cash payments as an option in Colombo giving users options to choose between credit or debit cards or cash when paying. “We know that cash is still the dominant payment option for people around the world, especially in emerging […]
IFC ready to finance Sri Lankan private sector projects
Sep 01, 2016 (LBO) – The International Finance Corporation, a part of the World Bank group, is ready to finance Sri Lanka’s private sector projects by providing mid to long term loans through a multiple of financing methods, an official said. “The loan component for potential partners would start from around 3 million US dollars […]
‘s Dialog launches first VoLTE network on 4G
Sep 01, 2016 (LBO) – Sri Lanka’s Dialog Axiata, announced the launch of VoLTE (Voice over LTE), enabling ultra-high quality voice and video calls over its 4GLTE Networks today. VoLTE will be available at all locations covered by Dialog’s mobile 4G network in Sri Lanka, the company said in a statement. “The technology represents the […]
Sri Lanka approves 10 acres in Muthurajawela for solid waste energy
Aug 31, 2016 (LBO) – Sri Lanka’s cabinet has approved leasing out 10 acres of land for implementing a project for generating electricity through solid waste. “This can be used as a solution to the waste disposal issue,” a statement on approved cabinet decisions said. The land is owned by the Sri Lanka Land Reclamation […]
Sri Lankan rupee steady after cbank chief allays fears of upward pressure
COLOMBO, Aug 31 (Reuters) – The Sri Lankan rupee traded steady on Wednesday, a day after the country’s Central Bank Governor Indrajith Coomaraswamy said the currency was not under upward pressure as capital inflows had not been of sufficient magnitude to exert such pressure. Dealers said the rupee could appreciate if the central bank does […]
Ceylinco Life’s 6-month income up 14-pct to Rs 11 billion
(PRESS RELEASE) – Ceylinco Life has reported that total income grew 14 per cent to Rs 11.028 billion in the six months ending 30th June 2016, with robust growth in both gross written premium and income from investments enabling the life insurance leader to consolidate its position at the helm of the sector. Gross premium […]