Tag: lbo
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 […]
Sri Lanka’s HSBC fires five senior managers for figure-fudging
Jun 20, 2016 (LBO) – HSBC Sri Lanka sacked five senior managers following an investigation into allegations that they fudged incentives-linked performance figures, a media report said. “HSBC Sri Lanka has made important senior management changes following an internal investigation,” a spokesperson said, according to a Sunday Times report. Among the terminated employees were two […]
UN launches worldwide search for young leaders to achieve Sustainable Development Goals
The United Nations today launched a new initiative to recognize exceptional young people who are leaders in the effort to end poverty, combat climate change and reduce inequalities. Spear-headed by the Office of the UN Secretary-General’s Envoy on Youth, the UN Young Leaders Initiative will recognize on an annual basis 17 young leaders who are driving […]
Asia stocks gain as Brexit fears ebb slightly, pound surges
June 20 (Reuters) – Asian stocks gained early on Monday as rising expectations of Britain voting to remain in the European Union lifted risk sentiment and the pound jumped against its peers. MSCI’s broadest index of Asia-Pacific shares outside Japan gained 0.4 percent. Japan’s Nikkei climbed 1.5 percent, helped by a retreat in the recently […]
Sri Lankan rupee 1-wk forwards trade steady amid cbank moral suasion
June 17 (Reuters) – Sri Lankan rupee one-week forwards traded steady on Friday, but dealers said the local currency was under pressure due to lack of exporter dollar conversions and moral suasion by the central bank, which is holding the currency at current levels. One-week dollar/rupee forwards, which have been acting as a proxy for […]
Asian shares face weekly losses, sterling rebounds in Brexit turmoil
TOKYO, June 17 (Reuters) – Asian shares rose on Friday, but remained on track for weekly losses in a week dominated by fears that British voters will opt to leave the European Union in next week’s referendum. Campaigning for the upcoming vote, which overshadowed this week’s central bank meetings, was temporarily halted after a […]