Tag: lbo
‘s progress, wants to increase aid: Ravi K
Aug 31, 2016 (LBO) – Sri Lanka’s Finance Minister says multilateral donor World Bank is keen to increase its aid following Sri Lanka rapidly achieving its development goals which were set at the time loans were granted to it. “The World Bank is very happy with the progress made so far in the projects that […]
Sri Lankan firms asked to implement ‘sourcing strategies’ during a Ceylon Chamber seminar
An expert asks Sri Lankan firms to have a sound ‘sourcing strategy’ in order to help improve the overall business performance by sourcing the rights products at the right price and at the right time. Tom Albrigston, a director at the Norway based Fair Deal AS, said it is important for firms to have an […]
Asia stocks bounce, dollar dips on Fed hike doubts
SYDNEY, Aug 30 (Reuters) – Asian shares bounced on Tuesday as doubts the Federal Reserve really would hike rates as soon as September undermined the dollar, while investors continued to count on more policy stimulus elsewhere in the world. MSCI’s broadest index of Asia-Pacific shares outside Japan added 0.4 percent, recouping around half of Monday’s […]
China to fund Ratnapura expressway project
Aug 29, 2016 (LBO) – The EXIM bank of China has agreed to fund civil work construction of the proposed Ratnapura Expressway (73.9 kilometers) from Kahathuduwa interchange on the Southern Expressway to Pelmandulla, a statement said. “Feasibility studies, preliminary design and environmental impact assessment are being carried out at present,” a statement on the latest […]
World Bank looks at further collaboration in Sri Lanka: South Asia VP
Aug 29, 2016 (LBO) – The World Bank says it will further support Sri Lanka’s journey towards higher growth and prosperity and this will require progress across all provinces. “I hope to continue discussions that I have previously had with government to further our collaboration. We look forward to continue supporting Sri Lanka’s ambitious development […]
USS Frank Cable Arrives in Sri Lanka today
Aug 29, 2016 (LBO) – The USS Frank Cable (AS-40) will arrive in Sri Lanka for a routine refueling and port visit on August 29. During the visit, sailors from the ship will enjoy shore leave and volunteer at an animal shelter, a statement said. USS Frank Cable (http://www.csp.navy.mil/frankcable/) is a submarine tender vessel stationed […]
Sri Lankan horse owners make their mark in Mysore
(PRESS RELEASE) – La Donna, the fashionably bred 3 year old bay, daughter of multidimensional, out of Forest Treasure, bred at the Usha Stud, set the Mysore Racetrack alight when she won the Srikantadatta Narasimharaaja Wadiyar Memorial Million on Friday 26th August. Owned by the Sri Lanka based Mr. and Mrs. Rienzie Edwards, the filly […]
‘ rate comments, dollar firms
SINGAPORE, Aug 29 (Reuters) – Most Asian share markets slipped on Monday while the U.S. dollar held firm on Monday after U.S. Federal Reserve Chair Janet Yellen indicated an interest rate increase remains on the cards for this year. MSCI’s broadest index of Asia-Pacific shares outside Japan slid 0.7 percent. Japan’s Nikkei, bucked the trend […]
Excise duty on diesel increased to Rs13 a litre; LIOC down 9.7 pct
Aug 26, 2016 (LBO) – Sri Lanka’s government has raised excise duty on diesel by 10 rupees a litre to 13 rupees, the Finance Ministry said in a statement. Although the excise duty on diesel was raised three days ago, no public announcement was made until Friday. The share price of LIOC fell to 37.80 […]
Huawei introduces “King of Fingerprint” series launching GR5 Mini in Sri Lanka
(PRESS RELEASE) – Huawei, the fastest growing smartphone in Sri Lanka announced the launch of its latest addition to the G Series family GR5 Mini to the country. Huawei together with its national distributor Singer Sri Lanka PLC will market the product through the island for an introductory price of LKR 29,999 enabling all Sri […]
Sri Lankan rupee steady; importer dollar demand offsets exporter selling
COLOMBO, Aug 24 (Reuters) – The Sri Lankan rupee was steady for an eighth session on Wednesday as exporter dollar sales were offset by importer demand for the greenback, with dealers hesitating to trade the local currency below 145.50 per dollar in anticipation of central bank intervention to defend the rupee, dealers said. The spot […]
Sri Lanka bottled water to have higher SLS standards
Aug 24, 2016 (LBO) – Sri Lanka’s Consumer Affairs Authority (CAA) will be enforcing plastic mineral water bottling standards starting September 1 following the authority detecting several brands using low quality bottles. “Low quality bottles affect the quality of water in bottles,” said Rishad Bathiudeen, minister of Industry and Commerce during a consumer review conducted […]